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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net income (loss) $ 297 $ 927 $ (67)
Less loss from discontinued operations, net of taxes 0 9 29
Adjustments to reconcile net income (loss) to net cash from operating activities:      
Gain on sale of businesses     (26)
Amortization of fixed maturity securities discounts and premiums (122) (147) (138)
Net investment (gains) losses 146 (265) (72)
Charges assessed to policyholders (697) (713) (782)
Acquisition costs deferred (83) (88) (150)
Amortization of deferred acquisition costs and intangibles 391 435 498
Deferred income taxes 5 (368) 145
Trading securities, limited partnerships and derivative instruments (249) 703 709
Stock-based compensation expense 37 42 32
Change in certain assets and liabilities:      
Accrued investment income and other assets (168) 30 (358)
Insurance reserves 1,555 1,625 1,315
Current tax liabilities (52) (4) 32
Other liabilities, policy and contract claims and other policy-related balances 573 368 705
Net cash from (used by) operating activities 1,633 2,554 1,872
Cash flows used by investing activities:      
Fixed maturity securities 3,756 4,766 3,889
Commercial mortgage loans 701 579 700
Restricted commercial mortgage loans related to securitization entities 45 22 32
Proceeds from sales of investments:      
Fixed maturity and equity securities 6,192 4,226 5,629
Purchases and originations of investments:      
Fixed maturity and equity securities (10,706) (8,888) (11,529)
Commercial mortgage loans (1,047) (806) (649)
Other invested assets, net 402 (701) (154)
Policy loans, net 35 48 (77)
Proceeds from sale of businesses, net of cash transferred     39
Payments for businesses purchased, net of cash acquired   (5)  
Net cash from (used by) investing activities (622) (759) (2,120)
Cash flows used by financing activities:      
Deposits to universal life and investment contracts 1,193 857 1,349
Withdrawals from universal life and investment contracts (2,355) (2,397) (2,004)
Redemption and repurchase of non-recourse funding obligations     (1,620)
Proceeds from issuance of long-term debt 441    
Repayment and repurchase of long-term debt (600)   (382)
Repayment of borrowings related to securitization entities (40) (34) (42)
Repurchase of subsidiary shares (105) (33)  
Return of capital to noncontrolling interests     (70)
Dividends paid to noncontrolling interests (97) (107) (138)
Other, net (58) (54) (44)
Net cash from (used by) financing activities (1,621) (1,768) (2,951)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (88) 64 (10)
Net change in cash, cash equivalents and restricted cash (698) 91 (3,209)
Cash, cash equivalents and restricted cash at beginning of period 2,875 2,784 5,993
Cash, cash equivalents and restricted cash at end of period $ 2,177 $ 2,875 $ 2,784