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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities    
Net income (loss) $ 312 $ (61)
Adjustments to reconcile net income (loss) to net cash flows provided by operating activities:    
Deferred income tax expense (benefit) 30 (37)
Trading portfolio activity (8) 7
Net investment (gains) losses (57) 216
Equity method investees 14 98
Net amortization of investments (24) (15)
Depreciation and amortization 14 16
Changes in:    
Receivables, net (700) (229)
Accrued investment income (19) (8)
Deferred acquisition costs (32) (27)
Insurance reserves 605 510
Other, net (53) (258)
Net cash flows provided by operating activities 82 212
Dispositions:    
Fixed maturity securities - sales 907 823
Fixed maturity securities - maturities, calls and redemptions 1,084 799
Equity securities 119 98
Limited partnerships 49 204
Mortgage loans 42 15
Purchases:    
Fixed maturity securities (2,203) (1,818)
Equity securities (81) (220)
Limited partnerships (61) (32)
Mortgage loans (16) (61)
Change in other investments (2) (6)
Change in short term investments 573 1,267
Purchases of property and equipment (3) (3)
Other, net 0 21
Net cash flows provided by investing activities 408 1,087
Cash Flows from Financing Activities    
Dividends paid to common stockholders (310) (649)
Purchase of treasury stock (3) (18)
Other, net (8) (8)
Net cash flows used by financing activities (321) (675)
Effect of foreign exchange rate changes on cash 0 (9)
Net change in cash 169 615
Cash, beginning of year 419 242
Cash, end of period $ 588 $ 857