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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating Activities:    
Net earnings, including noncontrolling interests $ 678 $ 552
Adjustments:    
Depreciation and amortization 195 163
Annuity benefits 900 664
Realized (gains) losses on investing activities (223) 28
Net (purchases) sales of trading securities (2) 116
Deferred annuity and life policy acquisition costs (163) (192)
Change in:    
Reinsurance and other receivables (330) (868)
Other assets (281) (257)
Insurance claims and reserves 475 507
Payable to reinsurers 115 189
Other liabilities 417 346
Managed investment entities’ assets/liabilities (2) 104
Other operating activities, net (88) (75)
Net cash provided by operating activities 1,691 1,277
Investing Activities:    
Purchases of fixed maturities (5,533) (6,700)
Purchases of equity securities (161) (342)
Purchases of mortgage loans (181) (112)
Purchases of equity index call options and other investments (658) (695)
Purchases of real estate, property and equipment (33) (60)
Proceeds from maturities and redemptions of fixed maturities 3,411 3,516
Proceeds from repayments of mortgage loans 76 87
Proceeds from sales of fixed maturities 569 275
Proceeds from sales of equity securities 223 150
Proceeds from sales and settlements of equity index call options and other investments 486 688
Proceeds from sales of real estate, property and equipment 3 3
Managed investment entities:    
Purchases of investments (1,062) (1,674)
Proceeds from sales and redemptions of investments 1,081 1,485
Other investing activities, net 1 4
Net cash used in investing activities (1,778) (3,375)
Financing Activities:    
Annuity receipts 3,821 3,925
Annuity surrenders, benefits and withdrawals (2,502) (2,101)
Net transfers from variable annuity assets 45 35
Additional long-term borrowings 121 0
Issuances of managed investment entities’ liabilities 0 1,572
Retirements of managed investment entities’ liabilities (8) (1,463)
Issuances of Common Stock 29 26
Cash dividends paid on Common Stock (241) (225)
Net cash provided by financing activities 1,265 1,769
Net Change in Cash and Cash Equivalents 1,178 (329)
Cash and cash equivalents at beginning of period 1,515 2,338
Cash and cash equivalents at end of period $ 2,693 $ 2,009