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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 income (loss) $ 225 $ 52
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Realized (gain) loss 181 24
Trading securities purchases, sales and maturities, net 98 235
Amortization of deferred gain on business sold through reinsurance (9) (11)
Change in:    
Deferred acquisition costs, value of business acquired, deferred sales inducements and deferred front-end loads deferrals and interest, net of amortization 54 (169)
Premiums and fees receivable (167) (97)
Accrued investment income (41) (37)
Insurance liabilities and reinsurance-related balances (764) 736
Accrued expenses (40) (317)
Federal income tax accruals 37 (18)
Other (216) 57
Net cash provided by (used in) operating activities (642) 455
Cash Flows from Investing Activities    
Purchases of available-for-sale securities and equity securities (3,834) (3,590)
Sales of available-for-sale securities and equity securities 571 395
Maturities of available-for-sale securities 1,913 1,317
Purchases of alternative investments (163) (79)
Sales and repayments of alternative investments 54 55
Issuance of mortgage loans on real estate (888) (839)
Repayment and maturities of mortgage loans on real estate 403 227
Issuance (repayment) of policy loans, net (76) (94)
Net change in collateral on investments, derivatives and related settlements 1,341 3,411
Other (33) (61)
Net cash provided by (used in) investing activities (712) 742
Cash Flows from Financing Activities    
Payment of long-term debt, including current maturities   (300)
Issuance of long-term debt, net of issuance costs   499
Deposits of fixed account values, including the fixed portion of variable 3,136 3,917
Withdrawals of fixed account values, including the fixed portion of variable (1,777) (1,684)
Transfers to and from separate accounts, net (122) 323
Common stock issued for benefit plans 7 (9)
Repurchase of common stock (105) (225)
Dividends paid to common stockholders (80) (79)
Other (63)
Net cash provided by (used in) financing activities 996 2,442
Net increase (decrease) in cash, invested cash and restricted cash (358) 3,639
Cash, invested cash and restricted cash as of beginning-of-year 1,708 2,563
Cash, invested cash and restricted cash as of end-of-period $ 1,350 $ 6,202