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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating Activities:    
Net earnings, including noncontrolling interests $ 326 $ 141
Adjustments:    
Depreciation and amortization 34 71
Annuity benefits 311 182
Realized (gains) losses on investing activities (184) 93
Net sales of trading securities 1 61
Deferred annuity and life policy acquisition costs (64) (57)
Change in:    
Reinsurance and other receivables 128 245
Other assets (271) 26
Insurance claims and reserves (112) (284)
Payable to reinsurers (22) (82)
Other liabilities 304 (16)
Managed investment entities’ assets/liabilities 16 31
Other operating activities, net (13) (20)
Net cash provided by operating activities 454 391
Investing Activities:    
Purchases of fixed maturities (1,801) (2,464)
Purchases of equity securities (35) (212)
Purchases of mortgage loans (38) 0
Purchases of equity index call options and other investments (220) (195)
Purchases of real estate, property and equipment (10) (23)
Proceeds from maturities and redemptions of fixed maturities 1,032 962
Proceeds from repayments of mortgage loans 29 43
Proceeds from sales of fixed maturities 201 105
Proceeds from sales of equity securities 95 32
Proceeds from sales and settlements of equity index call options and other investments 79 208
Proceeds from sales of real estate, property and equipment 1 0
Managed investment entities:    
Purchases of investments (391) (606)
Proceeds from sales and redemptions of investments 373 478
Other investing activities, net 1 16
Net cash used in investing activities (684) (1,656)
Financing Activities:    
Annuity receipts 1,395 1,148
Annuity surrenders, benefits and withdrawals (782) (647)
Net transfers from variable annuity assets 13 11
Additional long-term borrowings 121 0
Issuances of managed investment entities’ liabilities 0 775
Retirements of managed investment entities’ liabilities (3) (684)
Issuances of Common Stock 7 14
Cash dividends paid on Common Stock (36) (31)
Net cash provided by financing activities 715 586
Net Change in Cash and Cash Equivalents 485 (679)
Cash and cash equivalents at beginning of period 1,515 2,338
Cash and cash equivalents at end of period $ 2,000 $ 1,659