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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows From Operating Activities    
Net Income (Loss) $ (1,081) $ 1,323
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 55 46
Investment gains and losses, net 1,829 (1,011)
Share-based compensation 20 17
Interest credited to contract holders 23 23
Deferred income tax expense (391) 206
Changes in:    
Investment income receivable 3 (2)
Premiums and reinsurance receivable (427) (365)
Deferred policy acquisition costs (130) (94)
Other assets (29) (23)
Loss and loss expense reserves 364 273
Life policy and investment contract reserves 35 55
Unearned premiums 596 457
Other liabilities (31) 23
Current income tax receivable/payable (81) (11)
Net cash provided by operating activities 755 917
Cash Flows From Investing Activities    
Sale of fixed maturities 190 73
Call or maturity of fixed maturities 512 690
Sale of equity securities 178 110
Purchase of fixed maturities (942) (1,228)
Purchase of equity securities (218) (152)
Investment in finance receivables (10) (22)
Collection of finance receivables 21 18
Investment in building and equipment (8) (9)
Change in other invested assets, net (47) (6)
Net cash used in investing activities (324) (526)
Cash Flows From Financing Activities    
Payment of cash dividends to shareholders (208) (195)
Shares acquired - share repurchase authorization (196) (28)
Changes in note payable (10) 5
Proceeds from stock options exercised 6 8
Contract holders' funds deposited 34 47
Contract holders' funds withdrawn (62) (75)
Other (36) (50)
Net cash used in financing activities (472) (288)
Net change in cash and cash equivalents (41) 103
Cash and cash equivalents at beginning of year 1,139 900
Cash and cash equivalents at end of year 1,098 1,003
Supplemental Disclosures of Cash Flow Information:    
Interest Paid 26 26
Income taxes paid 142 113
Noncash Activities    
Equipment acquired under finance lease obligations 6 8
Share-based compensation 24 21
Other assets and other liabilities $ 180 $ 83