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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net loss $ (1,700) $ (1,046)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation, amortization and other non-cash items 539 646
Net (gains) losses on investments and derivatives 223 1,167
Pension and other postretirement remeasurement (gains) losses 56 91
Changes in:    
Policy benefits and other insurance reserves 3,068 3,464
Unearned premiums 2,216 2,255
Deferred policy acquisition costs (385) (567)
Premium installment receivables, net (934) (1,022)
Reinsurance recoverables, net 534 99
Income taxes (532) (555)
Other operating assets and liabilities (82) (381)
Net cash provided by operating activities 3,003 4,151
Proceeds from sales    
Fixed income securities 17,443 25,577
Equity securities 4,755 8,767
Limited partnership interests 590 786
Other investments 153 1,034
Investment collections    
Fixed income securities 1,384 526
Mortgage loans 66 92
Other investments 76 144
Investment purchases    
Fixed income securities (23,708) (30,103)
Equity securities (2,316) (7,613)
Limited partnership interests (639) (860)
Mortgage loans (138) (104)
Other investments (234) (269)
Change in short-term and other investments, net 851 1,094
Purchases of property and equipment, net (196) (352)
Proceeds from sale of property and equipment 19 0
Net cash used in investing activities (1,894) (1,281)
Cash flows from financing activities    
Proceeds from issuance of debt 743 0
Repayment of debt (750) 0
Proceeds from issuance of preferred stock 587 0
Redemption of preferred stock (575) 0
Contractholder fund deposits 99 102
Contractholder fund withdrawals (23) (31)
Dividends paid on common stock (692) (698)
Dividends paid on preferred stock (71) (79)
Treasury stock purchases (335) (2,150)
Shares reissued under equity incentive plans, net 17 61
Other 15 (52)
Net cash used in financing activities (985) (2,847)
Net increase in cash 124 23
Cash at beginning of period 736 763
Cash at end of period $ 860 $ 786