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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net income $ 6,439 $ 2,709
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other non-cash items 374 404
Net (gains) losses on investments and derivatives 241 24
Pension and other postretirement remeasurement (gains) losses (30) 15
Gain on disposition of operations (1,610) 0
Changes in:    
Claims and claims expense and other insurance reserves 1,129 2,921
Unearned premiums 2,212 2,378
Deferred policy acquisition costs (297) (315)
Premium installment receivables, net (1,113) (1,094)
Reinsurance recoverables, net (394) (324)
Income taxes 286 346
Other operating assets and liabilities (116) 162
Net cash provided by operating activities 7,121 7,226
Proceeds from sales    
Fixed income securities 57,477 26,841
Equity securities 5,646 2,137
Limited partnership interests 941 409
Other investments 2 169
Investment collections    
Fixed income securities 489 1,260
Mortgage loans 64 74
Other investments 32 35
Investment purchases    
Fixed income securities (60,481) (33,023)
Equity securities (6,447) (1,631)
Limited partnership interests (961) (915)
Mortgage loans (117) (17)
Other investments (253) (125)
Change in short-term and other investments, net (4,600) (1,653)
Purchases of property and equipment, net (139) (160)
Proceeds from sale of property and equipment 0 18
Proceeds from disposition of operations, net of cash transferred 3,041 0
Net cash used in investing activities (5,306) (6,581)
Cash flows from financing activities    
Proceeds from issuance of debt 0 495
Redemption and repayment of debt 0 (350)
Contractholder fund deposits 30 98
Contractholder fund withdrawals (15) (26)
Dividends paid on common stock (773) (719)
Dividends paid on preferred stock (88) (88)
Treasury stock purchases (799) 0
Shares reissued under equity incentive plans, net 38 149
Other 19 4
Net cash used in financing activities (1,588) (437)
Net increase in cash 227 208
Cash at beginning of period 704 722
Less: Cash classified as assets held for sale at end of period 0 114
Cash at end of period $ 931 $ 816