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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities    
Net income $ 741 $ 1,002
Adjustments to reconcile net income (loss) to net cash provided by operating activities    
Net realized capital losses (gains) 122 (243)
Amortization of deferred policy acquisition costs 866 747
Additions to deferred policy acquisition costs (856) (799)
Depreciation and amortization 269 221
Other operating activities, net 95 64
Change in assets and liabilities:    
Decrease in reinsurance recoverables (123) 57
Net change in accrued and deferred income taxes 175 277
Increase in insurance liabilities 597 565
Net change in other assets and other liabilities (619) (887)
Net cash provided by operating activities 1,267 1,004
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 9,023 10,770
Fixed maturities, fair value option 9 4
Equity securities, at fair value 1,353 1,024
Mortgage loans 536 346
Partnerships 43 122
Payments for the purchase of:    
Fixed maturities, available-for-sale (8,362) (11,027)
Equity securities, at fair value (671) (951)
Mortgage loans (762) (280)
Partnerships (187) (167)
Net proceeds from derivatives 139 45
Net additions of property and equipment (51) (44)
Net proceeds from short-term investments (883) 2,090
Other investing activities, net 28 (1)
Payments to Acquire Businesses, Net of Cash Acquired 0 1,901
Net cash provided by investing activities 215 30
Financing Activities    
Deposits and other additions to investment and universal life-type contracts 29 106
Withdrawals and other deductions from investment and universal life-type contracts (26) (77)
Net increase (decrease) in securities loaned or sold under agreements to repurchase (418) (178)
Repayment of debt (500) (413)
Net return of shares under incentive and stock compensation plans (28) (39)
Treasury stock acquired (150) (27)
Dividends paid on preferred stock (10) (11)
Dividends paid on common stock (224) (216)
Net cash provided by (used for) financing activities (1,327) (855)
Foreign exchange rate effect on cash (45) (17)
Net increase in cash and restricted cash 110 162
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 262 121
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 372 283
Supplemental Disclosure of Cash Flow Information    
Income tax paid 3 1
Interest paid $ 124 $ 137