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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities    
Net income $ 303 $ 727
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Deferred income tax benefit (41) (72)
Trading portfolio activity 2 (1)
Net investment losses (gains) 120 (20)
Equity method investees 12 48
Net amortization of investments (51) (64)
Depreciation and amortization 46 52
Changes in:    
Receivables, net (271) 207
Accrued investment income (6) (18)
Deferred acquisition costs (36) (37)
Insurance reserves 1,479 337
Other, net (149) (179)
Net cash flows provided by operating activities 1,408 980
Dispositions:    
Fixed maturity securities - sales 5,023 4,872
Fixed maturity securities - maturities, calls and redemptions 2,706 2,116
Equity securities 275 171
Limited partnerships 281 417
Mortgage loans 41 109
Purchases:    
Fixed maturity securities (8,466) (7,053)
Equity securities (373) (140)
Limited partnerships (144) (167)
Mortgage loans (154) (193)
Change in other investments (4) (8)
Change in short term investments 403 (180)
Purchases of property and equipment (16) (20)
Other, net 21 16
Net cash flows used by investing activities (407) (60)
Cash Flows from Financing Activities    
Dividends paid to common stockholders (850) (834)
Proceeds from the issuance of debt 495 496
Repayment of debt (419) (520)
Purchase of treasury stock (18) (18)
Other, net (9) (11)
Net cash flows used by financing activities (801) (887)
Effect of foreign exchange rate changes on cash 0 (3)
Net change in cash 200 30
Cash, beginning of year 242 310
Cash, end of period $ 442 $ 340