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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 income $ 2,760 $ 1,534 $ 1,893
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion, net 98 207 183
Deferred income tax expense (benefit) (87) (321) (308)
Share-based compensation 152 146 135
Gain on disposal of business before affinity partner payment     (313)
Net realized investment (gains) losses (632) (22) (16)
Net trading (gains) losses 5 (10) (10)
Loss from equity method investments 75 66 95
Impairments and provision for loan and credit losses 4 24 22
Net (gains) losses of consolidated investment entities (20) 7 9
Changes in operating assets and liabilities, net of effects from acquisitions:      
Restricted and segregated investments 25 (500) 124
Deferred acquisition costs (156) 49 (112)
Policyholder account balances, future policy benefits and claims, net 2,086 3,054 358
Derivatives, net of collateral (570) (141) 415
Receivables (520) (648) 324
Brokerage deposits 26 346 (519)
Accounts payable and accrued expenses 300 129 46
Increase (Decrease) in Income Taxes (308) 25 32
Deferred taxes, Net 4 334 (18)
Other operating assets and liabilities of consolidated investment entities, net 20 (15) (12)
Other, net 63 359 13
Net Cash Provided by (Used in) Operating Activities 3,325 4,623 2,341
Available-for-Sale securities:      
Proceeds from sales 556 1,708 242
Maturities, sinking fund payments and calls 11,501 9,554 8,202
Purchases (14,718) (13,525) (11,911)
Proceeds from sales, maturities and repayments of mortgage loans 299 217 272
Funding of mortgage loans (263) (165) (354)
Proceeds from sales, maturities and collections of other investments 173 198 276
Purchase of other investments (97) (284) (288)
Purchase of investments by consolidated investment entities (1,603) (957) (644)
Proceeds from sales, maturities and repayments of investments by consolidated investment entities 1,047 606 684
Purchase of land, buildings, equipment and software (120) (147) (143)
Proceeds from disposal of business, net of cash and cash equivalents sold     934
Cash paid for written options with deferred premiums (552) (338) (308)
Cash received from written options with deferred premiums 106 133 170
Cash paid for acquisition of business, net of cash acquired (576)    
Cash paid for deposit receivable (377) (4) (349)
Cash received for deposit receivable 254 93 98
Other, net (10) 17 (115)
Net cash (used in) provided by investing activities (4,380) (2,894) (3,234)
Investment certificates:      
Proceeds from additions 2,733 4,259 5,110
Maturities, withdrawals and cash surrenders (4,190) (5,016) (5,489)
Policyholder account balances:      
Deposits and other additions 1,553 1,649 2,152
Net transfers to (from) separate accounts (273) (125) (86)
Surrenders and other benefits (1,365) (1,357) (1,728)
Change in banking deposits, net 4,016 3,616 3,788
Cash paid for purchased options with deferred premiums (156) (211) (396)
Cash received for purchased options with deferred premiums 1,350 40 206
Issuance of long-term debt, net of issuance costs 4 496 497
Repayments of long-term debt (9) (762) (313)
Dividends paid to shareholders (511) (497) (504)
Repurchase of common shares (2,030) (1,441) (1,943)
Exercise of stock options 1 3 3
Borrowings of Consolidated Investment Entities 1,756 382  
Repayments of debt by consolidated investment entities (1,142) (74) (84)
Other, net (14) (10) 1
Net cash provided by (used in) financing activities 1,723 952 1,214
Effect of exchange rate changes on cash (2) 9 9
Net increase (decrease) in cash and cash equivalents, including amounts restricted 666 2,690 330
Cash and cash equivalents, including amounts restricted at beginning of period 8,903 6,213 5,883
Cash and cash equivalents, including amounts restricted at end of period $ 9,569 $ 8,903 $ 6,213