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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities:    
Net earnings $ 622 $ 1,640
Adjustments:    
Depreciation and amortization 78 160
Annuity benefits 0 377
Realized (gains) losses on investing activities 136 (1,111)
Net purchases of trading securities (2) (6)
Deferred annuity and life policy acquisition costs 0 (98)
Change in:    
Reinsurance and other receivables (1,830) (987)
Other assets (163) 238
Insurance claims and reserves 1,737 1,204
Payable to reinsurers 446 339
Other liabilities 16 88
Managed investment entities’ assets/liabilities 133 (78)
Other operating activities, net (130) (341)
Net cash provided by operating activities 1,043 1,425
Purchases of:    
Fixed maturities (3,733) (6,907)
Equity securities (194) (110)
Mortgage loans (273) (179)
Equity index options and other investments (96) (313)
Real estate, property and equipment (72) (53)
Businesses (10) 0
Proceeds from:    
Maturities and redemptions of fixed maturities 2,126 4,075
Repayments of mortgage loans 117 27
Sales of fixed maturities 1,068 690
Sales of equity securities 112 462
Sales and settlements of equity index options and other investments 128 562
Sales of real estate, property and equipment 31 25
Sales of businesses 0 3,547
Cash and cash equivalents of businesses sold 0 (2,060)
Managed investment entities:    
Purchases of investments (1,061) (1,480)
Proceeds from sales and redemptions of investments 801 1,579
Other investing activities, net (6) 32
Net cash used in investing activities (1,062) (103)
Financing Activities:    
Reductions of long-term debt (436) 0
Issuances of Common Stock 12 60
Repurchases of Common Stock (10) (318)
Cash dividends paid on Common Stock (989) (1,482)
Annuity receipts 0 2,403
Ceded annuity receipts 0 (311)
Annuity surrenders, benefits and withdrawals 0 (1,931)
Ceded annuity surrenders, benefits and withdrawals 0 282
Net transfers from variable annuity assets 0 34
Issuances of managed investment entities’ liabilities 666 1,665
Retirements of managed investment entities’ liabilities (561) (1,701)
Net cash used in financing activities (1,318) (1,299)
Net Change in Cash and Cash Equivalents (1,337) 23
Cash and cash equivalents at beginning of period 2,131 2,810
Cash and cash equivalents at end of period $ 794 $ 2,833