XML 31 R9.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net earnings $ 4,201 $ 4,325 $ 4,778
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Change in receivables and advance premiums 2 75 58
Capitalization of deferred policy acquisition costs (1,054) (1,063) (1,142)
Amortization of deferred policy acquisition costs 1,152 1,170 1,214
Increase in policy liabilities 661 976 2,023
Change in income tax liabilities (558) 118 (1,419)
Net investment (gains) losses (363) (468) 270
Other, net (162) (82) 176
Net cash provided (used) by operating activities 3,879 5,051 5,958
Proceeds from investments sold or matured:      
Available-for-sale fixed maturity securities 4,418 4,157 3,725
Equity securities 570 264 234
Held-to-maturity fixed maturity securities 3 4 4
Commercial mortgage and other loans 2,190 4,099 2,085
Costs of investments acquired:      
Available for sale fixed maturity securities (3,514) (5,813) (4,772)
Equity securities (461) (492) (498)
Commercial mortgage and other loans (3,897) (5,282) (3,263)
Other investments, net (227) (1,066) (860)
Settlement of derivatives, net (61) 199 18
Cash received (pledged or returned) as collateral, net (673) 1,511 (1,027)
Other, net 112 41 (265)
Net cash provided (used) by investing activities (1,540) (2,378) (4,619)
Cash flows from financing activities:      
Purchases of treasury stock (2,401) (2,301) (1,537)
Proceeds from borrowings 1,277 1,153 1,545
Principal payments under debt obligations (1,416) (700) (350)
Dividends paid to shareholders (979) (855) (769)
Change in investment-type contracts, net (83) (36) (11)
Treasury stock reissued 17 26 34
Other, net 34 (26) (27)
Net cash provided (used) by financing activities (3,551) (2,739) (1,115)
Effect of exchange rate changes on cash and cash equivalents 104 (24) 21
Net change in cash and cash equivalents (1,108) (90) 245
Cash and cash equivalents, beginning of period 5,051 5,141 4,896
Cash and cash equivalents, end of period 3,943 5,051 5,141
Supplemental disclosures of cash flow information:      
Income taxes paid 961 880 800
Interest paid 211 213 210
Noncash interest 14 24 32
Noncash financing activities:      
Lease obligations 102 46 56
Associate stock bonus      
Treasury stock issued for:      
Treasury stock issued 14 19 19
Shareholder dividend reinvestment      
Treasury stock issued for:      
Treasury stock issued 37 32 29
Share-based compensation grants      
Treasury stock issued for:      
Treasury stock issued $ 6 $ 4 $ 6