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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows From Operating Activities    
Net Income (Loss) $ (273) $ 620
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 29 23
Investment gains and losses, net 674 (501)
Share-based compensation 11 9
Interest credited to contract holders 12 11
Deferred income tax expense (128) 112
Changes in:    
Investment income receivable (3) 2
Premiums and reinsurance receivable (182) (166)
Deferred policy acquisition costs (68) (49)
Other assets (20) (33)
Loss and loss expense reserves 61 204
Life policy and investment contract reserves 17 15
Unearned premiums 289 221
Other liabilities (136) (80)
Current income tax receivable/payable (85) (34)
Net cash provided by operating activities 198 354
Cash Flows From Investing Activities    
Sale of fixed maturities 55 30
Call or maturity of fixed maturities 296 300
Sale of equity securities 56 65
Purchase of fixed maturities (460) (467)
Purchase of equity securities (90) (78)
Investment in finance receivables (3) (12)
Collection of finance receivables 9 8
Investment in building and equipment (4) (5)
Change in other invested assets, net (21) 6
Net cash used in investing activities (162) (153)
Cash Flows From Financing Activities    
Payment of cash dividends to shareholders (99) (95)
Shares acquired - share repurchase authorization (45) (28)
Changes in note payable (5) 3
Proceeds from stock options exercised 4 4
Contract holders' funds deposited 18 27
Contract holders' funds withdrawn (32) (33)
Other (29) (32)
Net cash used in financing activities (188) (154)
Net change in cash and cash equivalents (152) 47
Cash and cash equivalents at beginning of year 1,139 900
Cash and cash equivalents at end of year 987 947
Supplemental Disclosures of Cash Flow Information:    
Income taxes paid 121 66
Noncash Activities    
Equipment acquired under finance lease obligations 2 3
Share-based compensation 16 16
Other assets and other liabilities $ 10 $ 44