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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows From Operating Activities      
Net Income (Loss) $ 1,843 $ (487) $ 2,968
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and other 112 127 118
Investment gains and losses, net (1,108) 1,493 (2,353)
Interest credited 45 43 45
Deferred income tax expense 223 (355) 483
Changes in:      
Premiums and reinsurance receivable (264) (340) (240)
Deferred policy acquisition costs (80) (96) (78)
Other assets (30) 28 (11)
Loss and loss expense reserves 650 1,095 559
Life policy and investment contract reserves 99 78 76
Unearned premiums 430 418 311
Other liabilities 90 88 128
Current income tax receivable/payable 42 (40) (25)
Net cash provided by operating activities 2,052 2,052 1,981
Cash Flows From Investing Activities      
Sale, call or maturity of fixed maturities 1,136 1,113 1,461
Sale of equity securities 206 430 136
Purchase of fixed maturities (2,554) (1,901) (2,388)
Purchase of equity securities (220) (466) (313)
Changes in finance receivables (15) 7 (2)
Investment in buildings and equipment (18) (15) (15)
Change in other invested assets, net (143) (101) 64
Net cash used in investing activities (1,608) (933) (1,057)
Cash Flows From Financing Activities      
Payment of cash dividends to shareholders (454) (423) (395)
Shares acquired - share repurchase authorization (67) (410) (144)
Changes in note payable (25) (4) 0
Proceeds from stock options exercised 9 10 13
Contract holders' funds deposited 83 70 85
Contract holders' funds withdrawn (218) (144) (146)
Other (129) (93) (98)
Net cash used in financing activities (801) (994) (685)
Net change in cash and cash equivalents (357) 125 239
Cash and cash equivalents at beginning of year 1,264 1,139 900
Cash and cash equivalents at end of year 907 1,264 1,139
Supplemental Disclosures of Cash Flow Information      
Interest paid 54 53 52
Income taxes paid 136 165 257
Noncash Activities      
Equipment acquired under finance lease obligations 20 17 12
Share-based compensation 19 27 26
Other assets and other liabilities $ 77 $ 115 $ 87