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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net earnings $ 1,293 $ 566
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Change in receivables and advance premiums (19) 15
Capitalization of deferred policy acquisition costs (262) (325)
Amortization of deferred policy acquisition costs 311 333
Increase in policy liabilities 204 368
Change in income tax liabilities 331 153
Net investment (gains) losses (307) 463
Other, net (185) (159)
Net cash provided (used) by operating activities 1,366 1,414
Proceeds from investments sold or matured:    
Available-for-sale fixed maturity securities 651 726
Equity securities 123 3
Commercial mortgage and other loans 725 408
Costs of investments acquired:    
Available for sale fixed maturity securities (2,475) (1,817)
Equity securities (126) (6)
Commercial mortgage and other loans (956) (1,787)
Other investments, net (201) (361)
Settlement of derivatives, net 116 13
Cash received (pledged or returned) as collateral, net 1,206 1,160
Other, net (32) (55)
Net cash provided (used) by investing activities (969) (1,716)
Cash flows from financing activities:    
Purchases of treasury stock (650) (449)
Proceeds from borrowings 400 545
Principal payments under debt obligations 0 (350)
Dividends paid to shareholders (219) (195)
Change in investment-type contracts, net (12) (5)
Treasury stock reissued 9 9
Other, net 2 (1)
Net cash provided (used) by financing activities (470) (446)
Effect of exchange rate changes on cash and cash equivalents (78) 0
Net change in cash and cash equivalents (151) (748)
Cash and cash equivalents, beginning of period 5,141 4,896
Cash and cash equivalents, end of period 4,990 4,148
Supplemental disclosures of cash flow information:    
Income taxes paid (20) 2
Interest paid 35 39
Noncash interest 27 15
Noncash financing activities:    
Lease obligations 20 13
Associate stock bonus    
Treasury stock issued for:    
Treasury stock issued 7 5
Shareholder dividend reinvestment    
Treasury stock issued for:    
Treasury stock issued 8 7
Share-based compensation grants    
Treasury stock issued for:    
Treasury stock issued $ 4 $ 5