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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 1,654 $ 937
(Income) loss from discontinued operations 0 0
Noncash revenues, expenses, gains and losses included in income (loss):    
Net gains on sales of securities available for sale and other assets (265) (22)
Net (gain) loss on sale of divested businesses 216 (6)
(Gains) losses on extinguishment of debt 17 (2)
Unrealized (gains) losses in earnings - net (2,549) 367
Equity in (income) loss from equity method investments, net of dividends or distributions 167 (83)
Depreciation and other amortization 1,878 1,299
Impairments of assets 25 125
Changes in operating assets and liabilities:    
Insurance reserves 1,651 596
Premiums and other receivables and payables - net (62) 315
Reinsurance assets and funds held under reinsurance treaties (2,131) (2,495)
Capitalization of deferred policy acquisition costs (1,379) (1,420)
Current and deferred income taxes - net 842 167
Other, net (78) (754)
Total adjustments (1,668) (1,913)
Net cash used in operating activities (14) (976)
Sales or distribution of:    
Available for sale securities 7,040 6,370
Other securities 1,577 1,034
Other invested assets 1,447 1,118
Maturities of fixed maturity securities available for sale 6,768 4,957
Principal payments received on and sales of mortgage and other loans receivable 1,014 861
Purchases of:    
Available for sale securities (15,121) (12,757)
Other securities (317) (287)
Other invested assets (717) (567)
Mortgage and other loans receivable (1,733) (1,504)
Net change in short-term investments (6,023) (1,221)
Other, net 5,432 17
Net cash used in investing activities (633) (1,979)
Proceeds from (payments for)    
Policyholder contract deposits 4,979 5,629
Policyholder contract withdrawals (4,337) (4,195)
Issuance of long-term debt and debt of consolidated investment entities 673 1,449
Repayments of long-term debt and debt of consolidated investment entities (884) (589)
Borrowings under syndicated credit facility 1,300 0
Issuance of preferred stock, net of issuance costs 0 485
Purchase of common stock (500) 0
Dividends paid on preferred stock (7) 0
Dividends paid on common stock (276) (278)
Other, net (288) 263
Net cash provided by financing activities 660 2,764
Effect of exchange rate changes on cash and restricted cash 10 12
Net increase (decrease) in cash and restricted cash 23 (179)
Cash and restricted cash at beginning of year 3,287 3,358
Change in cash of businesses held for sale 9 0
Cash and restricted cash at end of year $ 3,319 $ 3,179