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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 income (loss) $ 11,275 $ 9,923 $ (5,829)
Income (loss) from discontinued operations, net of income taxes 1 0 (4)
Noncash revenues, expenses, gains and losses included in income (loss):      
Net (gains) losses on sales of securities available for sale and other assets 959 (2,099) (1,179)
Net (gain) loss on divestitures and other 82 (3,044) 8,525
Loss on extinguishment of debt 303 389 12
Unrealized gains in earnings - net (1,392) (1,889) (735)
Equity in (income) loss from equity method investments, net of dividends or distributions (164) 3 246
Depreciation and other amortization 4,848 4,633 4,120
Impairments of assets 26 46 98
Changes in operating assets and liabilities:      
Insurance reserves (2,332) 5,127 461
Premiums and other receivables and payables - net (10,193) (655) 2,586
Reinsurance assets, net 2,843 (1,241) (693)
Capitalization of deferred policy acquisition costs (4,649) (4,906) (4,292)
Current and deferred income taxes - net 2,260 1,314 (2,434)
Other, net 340 (1,322) 156
Total adjustments (7,069) (3,644) 6,871
Net cash provided by operating activities 4,207 6,279 1,038
Sales or distributions of:      
Available for sale securities 21,660 26,098 23,103
Other securities 3,060 975 2,533
Other invested assets 2,891 6,258 3,896
Divestitures, net 0 4,683 2,173
Maturities of fixed maturity securities available for sale 18,485 34,765 27,620
Principal payments received on and sales of mortgage and other loans receivable 9,435 8,267 7,805
Purchases of:      
Available for sale securities (38,885) (74,204) (58,284)
Other securities (3,714) (2,034) (617)
Other invested assets (2,346) (3,168) (3,522)
Mortgage and other loans receivable (14,364) (9,013) (5,990)
Net change in short-term investments 595 5,088 (4,925)
Other, net (443) (995) 6
Net cash used in investing activities (3,626) (3,280) (6,202)
Proceeds from (payments for)      
Policyholder contract deposits 26,508 25,424 22,385
Policyholder contract withdrawals (20,722) (22,481) (17,854)
Issuance of debt 7,477 107 4,196
Repayments of debt (9,455) (4,147) (1,923)
Borrowings under delayed draw term loan agreement 1,500 0 0
Purchase of common stock (5,200) (2,592) (500)
Dividends paid on preferred stock (29) (29) (29)
Dividends paid on common stock (982) (1,083) (1,103)
Other, net 545 1,222 541
Net cash provided by (used in) financing activities (676) (3,735) 5,058
Effect of exchange rate changes on cash and restricted cash (117) (67) 49
Net decrease in cash and restricted cash (211) (803) (57)
Cash and restricted cash at beginning of year 2,427 3,230 3,287
Cash and restricted cash at end of year 2,216 2,427 3,230
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:      
Cash 2,043 [1] 2,198 [1] 2,827
Total cash and restricted cash shown in the Consolidated Statements of Cash Flows 2,216 2,427 3,230
Cash paid during the period for:      
Interest 1,127 1,348 1,147
Taxes 746 862 975
Non-cash investing activities:      
Fixed maturity securities available for sale received in connection with pension risk transfer transactions 1,121 2,284 1,140
Fixed maturity securities received in connection with reinsurance transactions 110 161 362
Fixed maturity securities transferred in connection with reinsurance transactions (224) (837) (266)
Non-cash financing activities:      
Interest credited to policyholder contract deposits included in financing activities 3,606 3,586 3,734
Fee income debited to policyholder contract deposits included in financing activities (1,694) (1,690) (1,710)
Consolidated VIE      
Proceeds from (payments for)      
Issuance of debt 933 4,338 2,128
Repayments of debt (1,251) (4,494) (2,783)
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:      
Cash 71 96  
Short-term investments      
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:      
Restricted cash 140 [2] 197 [2] 180
Other assets      
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:      
Restricted cash $ 33 [2] $ 32 [2] $ 223
[1] See Note 9 for details of balances associated with variable interest entities.
[2] Includes funds held for tax sharing payments to AIG Parent, security deposits, and replacement reserve deposits related to real estate.