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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities      
Net income $ 1,202 $ 690 $ 1,000
Adjustments to reconcile net income to net cash flows provided by operating activities:      
Deferred income tax expense (benefit) 47 (49) (46)
Trading portfolio activity 20 (5) (16)
Net investment (gains) losses (120) 54 (29)
Equity method investees (127) (8) 11
Net amortization of investments (81) (67) (89)
Depreciation and amortization 54 60 68
Changes in:      
Receivables, net (1,358) (409) 137
Accrued investment income 3 16 (3)
Deferred acquisition costs (30) (43) (26)
Insurance reserves 2,463 1,681 358
Other, net (76) (145) (225)
Net cash flows provided by operating activities 1,997 1,775 1,140
Dispositions:      
Fixed maturity securities - sales 3,816 5,904 5,842
Fixed maturity securities - maturities, calls and redemptions 4,464 3,760 2,997
Equity securities 316 355 214
Limited partnerships 246 373 479
Mortgage loans 190 74 143
Purchases:      
Fixed maturity securities (9,307) (10,269) (8,661)
Equity securities (304) (452) (186)
Limited partnerships (440) (224) (198)
Mortgage loans (95) (172) (298)
Change in other investments (6) (8) (11)
Change in short term investments (83) (39) (535)
Purchases of property and equipment (26) (23) (26)
Other, net 1 16 15
Net cash flows used by investing activities (1,228) (705) (225)
Cash Flows from Financing Activities      
Dividends paid to common stockholders (621) (950) (929)
Proceeds from the issuance of debt 0 495 496
Repayment of debt 0 (419) (520)
Purchase of treasury stock (18) (18) (23)
Other, net (9) (10) (12)
Net cash flows used by financing activities (648) (902) (988)
Effect of foreign exchange rate changes on cash (4) 9 5
Net change in cash 117 177 (68)
Cash, beginning of year 419 242 310
Cash, end of period $ 536 $ 419 $ 242