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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities      
Net income $ 2,365 $ 1,737 $ 2,085
Adjustments to reconcile net income to net cash provided by operating activities      
Net realized gains (530) (34) (395)
Additional Cash Flow Elements, Operating Activities      
Amortization of deferred policy acquisition costs 1,680 1,706 1,622
Additions to deferred policy acquisition costs (1,751) (1,666) (1,635)
Depreciation and amortization 680 562 451
Loss on extinguishment of debt 0 0 (90)
Loss on sale of business 21 48 0
Other operating activities, net (133) 85 76
Increase in reinsurance recoverables (582) (540) (81)
Net change in accrued and deferred income taxes 85 459 886
Increase in insurance liabilities 2,416 1,426 768
Net change in other assets and other liabilities (158) 88 (378)
Cash provided by operating activities 4,093 3,871 3,489
Proceeds from the sale/maturity/prepayment of:      
Fixed maturities, available-for-sale 22,457 19,534 18,499
Proceeds from Sale and Maturity of Marketable Securities 626 1,485 1,553
Mortgage loans 1,506 948 771
Partnerships 537 167 238
Payments for the purchase of:      
Fixed maturities, available-for-sale (21,754) (21,112) (19,881)
Equity securities at fair value (1,420) (962) (1,316)
Mortgage loans (2,386) (1,264) (1,275)
Partnerships (1,317) (491) (303)
Net proceeds from (payments for) derivatives (7) 112 32
Net additions to property and equipment (133) (114) (105)
Net proceeds from (payments for) short-term investments (417) (368) 1,491
Other investing activities, net (169) (1) 49
Proceeds from businesses sold, net of cash transferred 11 0 0
Amounts paid for business acquired, net of cash acquired 0 0 (1,901)
Net cash used for investing activities (2,466) (2,066) (2,148)
Financing Activities      
Deposits and other additions to investment and universal life-type contracts 89 60 123
Withdrawals and other deductions from investment and universal life-type contracts (75) (102) (124)
Net decrease in securities loaned or sold under agreements to repurchase 0 (587) (323)
Repayment of debt 0 (500) (1,583)
Proceeds from the issuance of debt 588 0 1,376
Net issuance (return of) shares under incentive and stock compensation plans 25 (21) (6)
Treasury stock acquired (1,702) (150) (200)
Payments for Repurchase of Preferred Stock and Preference Stock (21) (21) (21)
Dividends paid on common stock (485) (457) (433)
Net cash used for financing activities (1,581) (1,778) (1,191)
Foreign exchange rate effect on cash (6) 8 (9)
Net increase in cash and restricted cash, including cash classified within assets held for sale 40 35 141
Less: Net increase (decrease) in cash classified as assets held for sale (58) 58 0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total 98 (23) 141
Cash and restricted cash — beginning of period 239 262 121
Cash and restricted cash — end of period 337 239 262
Supplemental Disclosure of Cash Flow Information      
Income tax paid (received) 496 (71) (396)
Interest paid $ 214 $ 232 $ 261