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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities:    
Net earnings $ 412 $ 457
Adjustments:    
Depreciation and amortization 39 53
Realized (gains) losses on investing activities 46 105
Net purchases of trading securities (2) 0
Change in:    
Reinsurance and other receivables (354) (462)
Other assets (40) (100)
Insurance claims and reserves 391 483
Payable to reinsurers 3 51
Other liabilities 24 13
Managed investment entities’ assets/liabilities 70 42
Other operating activities, net (71) (128)
Net cash provided by operating activities 518 514
Purchases of:    
Fixed maturities (851) (2,673)
Equity securities (76) (147)
Mortgage loans 0 (271)
Other investments (73) (68)
Real estate, property and equipment (33) (58)
Proceeds from:    
Maturities and redemptions of fixed maturities 705 1,677
Repayments of mortgage loans 32 99
Sales of fixed maturities 401 986
Sales of equity securities 67 63
Sales of other investments 43 116
Sales of real estate, property and equipment 2 24
Managed investment entities:    
Purchases of investments (951) (813)
Proceeds from sales and redemptions of investments 1,104 568
Other investing activities, net (2) (4)
Net cash provided by (used in) investing activities 368 (501)
Financing Activities:    
Reductions of long-term debt (21) (433)
Issuances of Common Stock 8 9
Repurchases of Common Stock (67) (5)
Cash dividends paid on Common Stock (446) (942)
Issuances of managed investment entities’ liabilities 617 619
Retirements of managed investment entities’ liabilities (861) (425)
Net cash used in financing activities (770) (1,177)
Net Change in Cash and Cash Equivalents 116 (1,164)
Cash and cash equivalents at beginning of period 872 2,131
Cash and cash equivalents at end of period $ 988 $ 967