XML 55 R7.htm IDEA: XBRL DOCUMENT v3.19.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Statement of Cash Flows [Abstract]    
Net income $ 1,430 $ 1,559
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation, amortization and accretion, net 132 152
Deferred income tax expense (benefit) (239) 8
Share-based compensation 100 105
Net realized investment (gains) losses (15) (16)
Net trading (gains) losses (8) (9)
Loss from equity method investments 54 44
Other than Temporary Impairments and Provision for Loan Losses 20 0
Net (gains) losses of consolidated investment entities 8 (29)
Changes in operating assets and liabilities:    
Restricted and segregated investments 124 349
Deferred acquisition costs (40) (61)
Policyholder account balances, future policy benefits and claims, net 1,068 (523)
Derivatives, net of collateral 71 353
Receivables 205 (264)
Brokerage deposits (492) (488)
Accounts payable and accrued expenses (43) (98)
Change in Other Operating Assets and Liabilities of Consolidated Investment Entities (12) 0
Other, net 211 27
Net cash provided by (used in) operating activities 2,574 1,109
Available-for-Sale securities:    
Proceeds from sales 219 412
Maturities, sinking fund payments and calls 6,107 5,127
Purchases (7,508) (6,463)
Proceeds from sales, maturities and repayments of mortgage loans 188 236
Funding of mortgage loans (197) (164)
Proceeds from sales, maturities and collections of other investments 215 607
Purchase of other investments (227) (538)
Purchase of investments by consolidated investment entities (524) (327)
Proceeds from sales, maturities and repayments of investments by consolidated investment entities 521 920
Purchase of land, buildings, equipment and software (100) (117)
Payments for Derivative Instrument, Investing Activities (124) (82)
Proceeds from Derivative Instrument, Investing Activities 71 100
Change In Reinsurance Deposit, Net (274) 0
Other, net (103) (60)
Net cash provided by (used in) investing activities (1,736) (349)
Investment certificates:    
Proceeds from additions 4,029 4,440
Maturities, withdrawals and cash surrenders (4,184) (3,497)
Policyholder account balances:    
Deposits and other additions 1,620 1,511
Net transfers from (to) separate accounts (46) (89)
Surrenders and other benefits (1,320) (1,406)
Change in banking deposits, net 2,543 0
Cash paid for purchased options with deferred premiums (158) (182)
Cash received from purchased options with deferred premiums 220 161
Proceeds from Debt, Net of Issuance Costs 497 0
Repayments of long-term debt (310) (9)
Dividends paid to shareholders (380) (380)
Repurchase of common shares (1,392) (1,192)
Exercise of stock options 2 2
Borrowings of Consolidated Investment Entities 0 566
Repayments of debt by consolidated investment entities (57) (1,132)
Proceeds from (Payments for) Other Financing Activities 0 3
Net cash provided by (used in) financing activities 1,064 (1,204)
Effect of exchange rate changes on cash (15) (3)
Cash and Cash Equivalents including Disposal Group, Period Increase (Decrease) 1,887 (447)
Less: Cash and Cash Equivalents of Disposal Group, Period Increase (Decrease) 204 0
Net increase (decrease) in cash and cash equivalents, including amounts restricted and cash balances classified as assets held-for-sale 1,683 (447)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning of Period 5,883 5,144
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, End of Period $ 7,566 $ 4,697