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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating Activities:    
Net earnings, including noncontrolling interests $ 535 $ 349
Adjustments:    
Depreciation and amortization 72 106
Annuity benefits 650 442
Realized (gains) losses on investing activities (241) 64
Net sales of trading securities 0 83
Deferred annuity and life policy acquisition costs (120) (127)
Change in:    
Reinsurance and other receivables 85 72
Other assets (298) (16)
Insurance claims and reserves (92) (268)
Payable to reinsurers 3 (22)
Other liabilities 329 55
Managed investment entities’ assets/liabilities (3) 138
Other operating activities, net (43) (53)
Net cash provided by operating activities 877 823
Investing Activities:    
Purchases of fixed maturities (3,761) (4,549)
Purchases of equity securities (80) (248)
Purchases of mortgage loans (43) (90)
Purchases of equity index call options and other investments (467) (446)
Purchases of real estate, property and equipment (20) (44)
Proceeds from maturities and redemptions of fixed maturities 2,347 2,283
Proceeds from repayments of mortgage loans 38 68
Proceeds from sales of fixed maturities 459 203
Proceeds from sales of equity securities 139 106
Proceeds from sales and settlements of equity index call options and other investments 329 446
Proceeds from sales of real estate, property and equipment 2 1
Managed investment entities:    
Purchases of investments (697) (1,261)
Proceeds from sales and redemptions of investments 702 1,035
Other investing activities, net 0 11
Net cash used in investing activities (1,052) (2,485)
Financing Activities:    
Annuity receipts 2,744 2,547
Annuity surrenders, benefits and withdrawals (1,668) (1,372)
Net transfers from variable annuity assets 28 21
Additional long-term borrowings 121 0
Issuances of managed investment entities’ liabilities 0 1,572
Retirements of managed investment entities’ liabilities (5) (1,461)
Issuances of Common Stock 19 21
Cash dividends paid on Common Stock (205) (194)
Net cash provided by financing activities 1,034 1,134
Net Change in Cash and Cash Equivalents 859 (528)
Cash and cash equivalents at beginning of period 1,515 2,338
Cash and cash equivalents at end of period $ 2,374 $ 1,810