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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net (loss) income $ 500 $ 2,468 $ 1,791
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Loss from discontinued operations     32
Net (gain) loss from securities transactions (1,206) 926 (570)
Purchases of securities (2,158) (1,945) (4,948)
Proceeds from Sale of Securities 4,172 4,040 3,648
Payments to cover securities sold, not yet purchased (2,775) (2,336) (938)
Proceeds from securities sold, not yet purchased 4,025 2,913 1,523
Changes in receivables and payables relating to securities transactions (2,035) (1,880) (220)
Changes in derivative assets and liabilities 321 (433) 1,181
(Gain) loss on disposition of assets, net (141) 17 (253)
Depreciation and amortization 517 510 519
Deferred taxes (168) (49) (89)
Inventory write-down 59 59  
Other, net 50 12 18
Changes in other operating assets and liabilities:      
Accounts receivable, net (110) 28 (33)
Inventories (83) 147 (20)
Other assets 24 30 356
Accounts payable 77 (162) 145
Accrued expenses and other liabilities 252 175 (20)
Net cash provided by (used in) operating activities 321 (416) (1,460)
Cash flows from investing activities:      
Capital expenditures (305) (199) (250)
Turnaround expenditures (5) (159) (38)
Acquisition of businesses, net of cash acquired (20) (8) (39)
Purchases of investments   (337) (50)
Proceeds from sale of investments 445 98 458
Proceeds from disposition of businesses and assets 414 25 505
Other, net (1) (1)  
Net cash provided by (used in) investing activities 528 (581) 586
Cash flows from financing activities:      
Investment segment contributions from non-controlling interests 74 13 220
Partnership contributions 835 102 55
Partnership distributions (134) (526) (112)
Purchase of additional interests in consolidated subsidiaries     (241)
Dividends and distributions to non-controlling interests in subsidiaries (101) (36) (119)
Proceeds from Holding Company senior unsecured notes 1,214 866 2,507
Repayments of Holding Company senior unsecured notes (1,205) (1,350) (1,700)
Proceeds from subsidiary borrowings 1,165 1,946 810
Repayments of subsidiary borrowings (1,545) (1,644) (847)
Other, net (10) (24) (7)
Net cash provided by (used in) financing activities 293 (653) 566
Effect of exchange rate changes on cash and cash equivalents and restricted cash and restricted cash equivalents 3 (4) (2)
Add back change in cash and restricted cash of assets held for sale     (83)
Net increase (decrease) in cash and cash equivalents and restricted cash and restricted cash equivalents 1,145 (1,654) (393)
Cash and cash equivalents and restricted cash and restricted cash equivalents, beginning of period 3,291 4,945 5,338
Cash and cash equivalents and restricted cash and restricted cash equivalents, end of period $ 4,436 $ 3,291 $ 4,945