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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net income $ 599 $ 1,721
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of deferred acquisition costs and value of business acquired 247 815
Amortization of deferred sales inducements 37 38
Accretion of net investment premiums, discounts and other (139) (60)
Payment at recapture of reinsurance agreement (723) 0
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions (90) (94)
Gain (Loss) on Investments and Derivatives (462) 1,682
Policy acquisition costs deferred (470) (521)
Changes in operating assets and liabilities:    
Accrued investment income (27) (99)
Interest sensitive contract liabilities 1,691 3,086
Future policy benefits, other policy claims and benefits, dividends payable to policyholders and reinsurance recoverable 338 973
Funds withheld assets and liabilities (856) (2,488)
Other assets and liabilities (144) 296
Net cash provided by operating activities 925 1,985
Sales, maturities and repayments of:    
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale 8,850 8,344
Proceeds from Sale and Maturity of Debt and Equity Securities, FV-NI, Held-for-investment 133 195
Proceeds from sale of equity securities 6 120
Mortgage loans 1,593 1,513
Proceeds from Investment Funds 465 309
Derivative instruments and other invested assets 1,331 1,008
Proceeds from Sale, Maturity and Collection of Short-term Investments 766 274
Purchases of:    
Payments to Acquire Debt Securities, Available-for-sale (14,071) (11,413)
Payments to Acquire Trading Securities Held-for-investment (188) (425)
Equity securities (481) (421)
Mortgage loans (2,971) (5,013)
Payments to Acquire Investment Funds (970) (765)
Derivative instruments and other invested assets (1,451) (853)
Payments to Acquire Short-term Investments (449) (653)
Cash Divested from Deconsolidation 3 0
Other investing activities, net 341 521
Net cash used in investing activities (7,099) (7,259)
Cash flows from financing activities    
Issuance of common stock 350 0
Repayment of short-term debt 75 0
Proceeds from long-term debt 499 0
Deposits on investment-type policies and contracts 13,994 8,879
Withdrawals on investment-type policies and contracts (5,320) (4,846)
Payments for coinsurance agreements on investment-type contracts, net (17) (39)
Capital contributions from noncontrolling interests 240 0
Capital distributions to noncontrolling interests (46) 0
Net change in cash collateral posted for derivative transactions and securities to repurchase (487) (1,354)
Issuance of preferred stock, net of expenses 583 1,172
Preferred stock dividends 67 17
Repurchase of common stock (425) (548)
Other financing activities, net 131 (51)
Net cash provided by financing activities 10,334 5,904
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (28) 0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 4,132 630
Cash and cash equivalents at beginning of year [1] 4,642 3,405
Cash and cash equivalents at end of period [1] 8,774 4,035
Non-cash transactions    
Deposits on investment-type policies and contracts through reinsurance agreements 29,876 619
Withdrawals on investment-type policies and contracts through reinsurance agreements 3,313 2,764
Reinsurance Settlements [Member]    
Non-cash transactions    
Transfer to Investments 53 56
Transfer from Investments 4,298 0
Pension Risk Transfer Premiums [Member]    
Non-cash transactions    
Transfer to Investments 829 4,506
Related Party    
Adjustments to reconcile net income to net cash provided by operating activities:    
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions (72) (95)
Gain (Loss) on Investments and Derivatives (15) 26
Changes in operating assets and liabilities:    
Accrued investment income (18) (3)
Interest sensitive contract liabilities 135 338
Future policy benefits, other policy claims and benefits, dividends payable to policyholders and reinsurance recoverable 209 223
Funds withheld assets and liabilities (644) (1,261)
Sales, maturities and repayments of:    
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale 238 101
Proceeds from Sale and Maturity of Debt and Equity Securities, FV-NI, Held-for-investment 31 65
Mortgage loans 0 4
Proceeds from Investment Funds 408 196
Proceeds from Sale, Maturity and Collection of Short-term Investments 28 0
Purchases of:    
Payments to Acquire Debt Securities, Available-for-sale (1,526) (1,065)
Payments to Acquire Trading Securities Held-for-investment (150) (6)
Mortgage loans (17) (366)
Payments to Acquire Investment Funds (914) (637)
Payments to Acquire Short-term Investments (28) 0
Cash flows from financing activities    
Deposits on investment-type policies and contracts 63 130
Withdrawals on investment-type policies and contracts (292) (332)
Non-cash transactions    
Deposits on investment-type policies and contracts through reinsurance agreements 252 159
Withdrawals on investment-type policies and contracts through reinsurance agreements 1,063 1,351
Related Party | Reinsurance Settlements [Member]    
Non-cash transactions    
Transfer to Investments 0 97
Related Party | Investment funds    
Non-cash transactions    
Transfer to Investments 1,147 0
Related Party | Trading securities    
Non-cash transactions    
Transfer to Investments $ 516 $ 0
[1] 1 Includes cash and cash equivalents and restricted cash.