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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows From Operating Activities    
Net Income (Loss) $ 225 $ (266)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other 40 37
Investment gains and losses, net (93) 674
Interest credited to contract holders 10 12
Deferred income tax expense 27 (126)
Changes in:    
Premiums and reinsurance receivable (229) (182)
Deferred policy acquisition costs (36) (67)
Other assets (24) (20)
Loss and loss expense reserves 293 61
Life policy and investment contract reserves 25 7
Unearned premiums 201 289
Other liabilities (121) (136)
Current income tax receivable/payable (68) (85)
Net cash provided by operating activities 250 198
Cash Flows From Investing Activities    
Sale, call or maturity of fixed maturities 303 351
Sale of equity securities 4 56
Purchase of fixed maturities (606) (460)
Purchase of equity securities (22) (90)
Changes in finance receivables (3) 6
Investment in building and equipment (4) (4)
Change in other invested assets, net (34) (21)
Net cash used in investing activities (362) (162)
Cash Flows From Financing Activities    
Payment of cash dividends to shareholders (106) (99)
Shares acquired - share repurchase authorization (25) (45)
Changes in note payable 0 (5)
Proceeds from stock options exercised 5 4
Contract holders' funds deposited 20 18
Contract holders' funds withdrawn (58) (32)
Other (33) (29)
Net cash used in financing activities (197) (188)
Net change in cash and cash equivalents (309) (152)
Cash and cash equivalents at beginning of year 1,264 1,139
Cash and cash equivalents at end of period 955 987
Supplemental Disclosures of Cash Flow Information:    
Interest paid 1 0
Income taxes paid 76 121
Noncash Activities    
Equipment acquired under finance lease obligations 1 2
Share-based compensation 11 16
Other assets and other liabilities $ 96 $ 10