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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Dec. 31, 2020
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Statement of Cash Flows [Abstract]            
Net cash flows provided by (used in) operating activities       $ (1,792) $ (664)  
Fixed-maturity securities:            
Purchases       (1,025) (856)  
Sales $ 0   $ 137 222 627  
Maturities and paydowns       757 642  
Short-term investments with original maturities of over three months:            
Purchases       0 (238)  
Sales       0 41  
Maturities and paydowns       32 198  
Net sales (purchases) of short-term investments with original maturities of less than three months       125 415  
Paydowns of financial guaranty variable interest entities’ assets       45 67  
Purchases of other invested assets       (44) (12)  
Return of capital from and sales of other invested assets       61 21  
Other       (4) 1  
Net cash flows provided by (used in) investing activities       169 906  
Financing activities            
Dividends paid       (51) (53)  
Repurchases of common shares       (305) (320)  
Net paydowns of financial guaranty variable interest entities’ liabilities       (38) (63)  
Issuance of long-term debt, net of issuance costs       889 0  
Redemptions and purchases of debt, including make-whole       (620) (22)  
Other       7 (12)  
Cash flows from consolidated investment vehicles:            
Proceeds from issuance of collateralized loan obligations       2,079 361  
Repayment of collateralized loan obligations       (365) 0  
Proceeds from issuance of warehouse financing debt       1,008 47  
Repayment of warehouse financing debt       (1,061) 0  
Contributions from noncontrolling interests to consolidated investment vehicles       33 69  
Distributions to noncontrolling interests from consolidated investment vehicles       (10) (19)  
Net cash flows provided by (used in) financing activities       1,566 (12)  
Effect of foreign exchange rate changes       (1) (7)  
Increase (decrease) in cash and restricted cash       (58) 223  
Cash and restricted cash at beginning of period   $ 406   298 183 $ 183
Cash and restricted cash at end of period 240 298 406 240 406 298
Supplemental cash flow information            
Income taxes       1 1  
Interest on long-term debt       50 49  
Reconciliation of cash and restricted cash to the condensed consolidated balance sheets:            
Cash 101 162 223 101 223 162
Restricted cash (included in other assets) 1   1 1 1  
Cash of consolidated investment vehicles (Note 9) 138   182 138 182  
Cash and restricted cash at end of period $ 240 $ 298 $ 406 $ 240 $ 406 $ 298