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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows From Operating Activities    
Net Income (Loss) $ (1,499) $ 1,476
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 81 69
Investment gains and losses, net 2,513 (933)
Share-based compensation 29 25
Interest credited to contract holders 34 33
Deferred income tax expense (571) 182
Changes in:    
Investment income receivable (8) (6)
Premiums and reinsurance receivable (354) (280)
Deferred policy acquisition costs (118) (84)
Other assets (6) (12)
Loss and loss expense reserves 808 546
Life policy and investment contract reserves 52 76
Unearned premiums 527 382
Other liabilities 3 95
Current income tax receivable/payable (70) (51)
Net cash provided by operating activities 1,421 1,518
Cash Flows From Investing Activities    
Sale of fixed maturities 93 88
Call or maturity of fixed maturities 818 1,049
Sale of equity securities 333 123
Purchase of fixed maturities (1,445) (1,831)
Purchase of equity securities (380) (276)
Investment in finance receivables (18) (30)
Collection of finance receivables 30 28
Investment in building and equipment (12) (12)
Change in other invested assets, net (65) (30)
Net cash used in investing activities (646) (891)
Cash Flows From Financing Activities    
Payment of cash dividends to shareholders (316) (295)
Shares acquired - share repurchase authorization (399) (40)
Changes in note payable (10) 5
Proceeds from stock options exercised 8 10
Contract holders' funds deposited 54 64
Contract holders' funds withdrawn (98) (104)
Other (70) (82)
Net cash used in financing activities (831) (442)
Net change in cash and cash equivalents (56) 185
Cash and cash equivalents at beginning of year 1,139 900
Cash and cash equivalents at end of year 1,083 1,085
Supplemental Disclosures of Cash Flow Information:    
Interest Paid 27 26
Income taxes paid 144 205
Noncash Activities    
Equipment acquired under finance lease obligations 13 9
Share-based compensation 24 22
Other assets and other liabilities $ 203 $ 137