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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Statement of Cash Flows [Abstract]      
Net income (loss) $ (759) $ (1,884) $ (339)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Interest credited to policyholders’ account balances 1,118 1,149 979
Policy charges and fee income (3,464) (3,487) (3,515)
Net derivative (gains) losses 1,541 3,831 1,034
Credit losses on AFS debt securities and loans 58 0 37
Investment (gains) losses, net (845) (206) (40)
Realized and unrealized (gains) losses on trading securities (106) (429) 221
Non-cash long-term incentive compensation expense 29 3 218
Amortization of deferred cost of reinsurance asset 0 (7) 1,882
Amortization and depreciation 1,249 391 360
Cash received on the recapture of captive reinsurance 0 0 1,273
Equity (income) loss from limited partnerships (74) (73) (120)
Changes in:      
Net broker-dealer and customer related receivables/payables 0 4 838
Reinsurance recoverable (283) (183) (390)
Segregated cash and securities, net 0 0 (345)
Capitalization of deferred policy acquisition costs (565) (648) (592)
Future policy benefits 1,857 1,084 (330)
Current and deferred income taxes (306) (329) (563)
Other, net (218) 178 810
Net cash provided by (used in) operating activities (768) (606) 1,418
Proceeds from the sale/maturity/prepayment of:      
Fixed maturities, available-for-sale 18,453 12,450 8,935
Mortgage loans on real estate 630 952 768
Trading account securities 1,913 10,209 9,298
Real estate joint ventures 55 5 139
Short-term investments 1,494 2,548 2,315
Other 973 253 190
Payment for the purchase/origination of:      
Fixed maturities, available-for-sale (26,402) (28,537) (11,110)
Mortgage loans on real estate (1,747) (1,240) (1,642)
Trading account securities (534) (1,067) (11,404)
Short-term investments (1,098) (2,762) (1,852)
Other (1,174) (408) (170)
Cash settlements related to derivative instruments, net 1,204 (961) 805
Issuance of loans to affiliates 0 (900) (1,100)
Repayments of loans to affiliates 300 300 900
Cash disposed due to distribution of disposed subsidiary 0 0 (672)
Investment in capitalized software, leasehold improvements and EDP equipment (66) (65) (115)
Other, net (406) (55) (91)
Net cash provided by (used in) investing activities (6,405) (9,278) (4,806)
Cash flows from financing activities:      
Deposits 10,928 12,283 9,365
Withdrawals (4,370) (4,641) (4,496)
Transfer (to) from Separate Accounts 2,517 1,869 1,809
Change in short-term financings 0 0 (26)
Change in collateralized pledged assets (140) (69) 1
Change in collateralized pledged liabilities 859 1,359 (291)
(Decrease) increase in overdrafts payable 0 0 3
Shareholder dividend paid (2,149) (1,005) (1,672)
Repurchase of AB Holding Units 0 0 (267)
Purchase (redemption) of noncontrolling interests of consolidated company-sponsored investment funds 9 19 (472)
Distribution to noncontrolling interest of consolidated subsidiaries 0 0 (610)
Proceeds from loans from affiliates 0 0 572
Repayment of loans from affiliates 0 (572) 0
Increase (decrease) in securities sold under agreement to repurchase 0 (573) (1,314)
Other, net 70 84 11
Net cash provided by (used in) financing activities 7,724 8,754 2,613
Effect of exchange rate changes on cash and cash equivalents 0 0 (12)
Change in cash and cash equivalents 551 (1,130) (787)
Cash and cash equivalents, beginning of year 1,492 2,622 3,409
Cash and cash equivalents, end of year 2,043 1,492 2,622
Cash and cash equivalents of disposed subsidiary:      
Beginning of year 0 0 1,009
End of year 0 0 0
Supplemental cash flow information:      
Interest paid 0 (4) 0
Income taxes (refunded) paid (323) (252) (8)
Cash flows of disposed subsidiary:      
Net cash provided by (used in) operating activities 0 0 1,137
Net cash provided by (used in) investing activities 0 0 (102)
Net cash provided by (used in) financing activities 0 0 (1,360)
Effect of exchange rate changes on cash and cash equivalents 0 0 (12)
Non-cash transactions:      
(Settlement) issuance of long-term debt 0 0 (202)
Transfer of assets to reinsurer 0 0 (604)
Repayments of loans from affiliates $ 0 $ 0 $ 300