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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating Activities:    
Net earnings, including noncontrolling interests $ 141 $ 155
Adjustments:    
Depreciation and amortization 71 38
Annuity benefits 182 196
Realized (gains) losses on investing activities 93 (17)
Net sales of trading securities 61 3
Deferred annuity and life policy acquisition costs (57) (67)
Change in:    
Reinsurance and other receivables 245 63
Other assets 26 (58)
Insurance claims and reserves (284) 57
Payable to reinsurers (82) (13)
Other liabilities (16) 45
Managed investment entities’ assets/liabilities 31 (487)
Other operating activities, net (20) 9
Net cash provided by (used in) operating activities 391 (76)
Investing Activities:    
Purchases of fixed maturities (2,464) (2,879)
Purchases of equity securities (212) (22)
Purchases of mortgage loans 0 (23)
Purchases of equity index call options and other investments (195) (181)
Purchases of real estate, property and equipment (23) (11)
Proceeds from maturities and redemptions of fixed maturities 962 1,511
Proceeds from repayments of mortgage loans 43 12
Proceeds from sales of fixed maturities 105 38
Proceeds from sales of equity securities 32 14
Proceeds from sales and settlements of equity index call options and other investments 208 174
Proceeds from sales of real estate, property and equipment 0 24
Managed investment entities:    
Purchases of investments (606) (910)
Proceeds from sales and redemptions of investments 478 1,058
Other investing activities, net 16 1
Net cash used in investing activities (1,656) (1,194)
Financing Activities:    
Annuity receipts 1,148 1,290
Annuity surrenders, benefits and withdrawals (647) (567)
Net transfers from variable annuity assets 11 17
Issuances of managed investment entities’ liabilities 775 537
Retirements of managed investment entities’ liabilities (684) (212)
Issuances of Common Stock 14 15
Cash dividends paid on Common Stock (31) (27)
Other financing activities, net 0 0
Net cash provided by financing activities 586 1,053
Net Change in Cash and Cash Equivalents (679) (217)
Cash and cash equivalents at beginning of period 2,338 2,107
Cash and cash equivalents at end of period $ 1,659 $ 1,890