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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating Activities:    
Net earnings, including noncontrolling interests $ 552 $ 311
Adjustments:    
Depreciation and amortization 163 105
Annuity benefits 664 635
Realized (gains) losses on investing activities 28 (18)
Net sales of trading securities 116 5
Deferred annuity and life policy acquisition costs (192) (177)
Change in:    
Reinsurance and other receivables (868) (1,467)
Other assets (257) (59)
Insurance claims and reserves 507 1,372
Payable to reinsurers 189 272
Other liabilities 346 0
Managed investment entities’ assets/liabilities 104 14
Other operating activities, net (75) 0
Net cash provided by operating activities 1,277 993
Investing Activities:    
Purchases of fixed maturities (6,700) (7,163)
Purchases of equity securities (342) (73)
Purchases of mortgage loans (112) (149)
Purchases of equity index call options and other investments (695) (594)
Purchases of real estate, property and equipment (60) (46)
Proceeds from maturities and redemptions of fixed maturities 3,516 4,690
Proceeds from repayments of mortgage loans 87 191
Proceeds from sales of fixed maturities 275 179
Proceeds from sales of equity securities 150 97
Proceeds from sales and settlements of equity index call options and other investments 688 565
Proceeds from sales of real estate, property and equipment 3 54
Managed investment entities:    
Purchases of investments (1,674) (2,330)
Proceeds from sales and redemptions of investments 1,485 2,343
Other investing activities, net 4 6
Net cash used in investing activities (3,375) (2,230)
Financing Activities:    
Annuity receipts 3,925 3,432
Annuity surrenders, benefits and withdrawals (2,101) (1,725)
Net transfers from variable annuity assets 35 43
Additional long-term borrowings 0 345
Reductions of long-term debt 0 (355)
Issuances of managed investment entities’ liabilities 1,572 1,926
Retirements of managed investment entities’ liabilities (1,463) (1,998)
Issuances of Common Stock 26 30
Cash dividends paid on Common Stock (225) (212)
Other financing activities, net 0 (7)
Net cash provided by financing activities 1,769 1,479
Net Change in Cash and Cash Equivalents (329) 242
Cash and cash equivalents at beginning of period 2,338 2,107
Cash and cash equivalents at end of period $ 2,009 $ 2,349