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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net income $ 753 $ 535
Adjustments to reconcile net income (loss) to net cash provided by operating activities    
Net realized losses (gains) (28) 7
Amortization of deferred policy acquisition costs 545 491
Additions to deferred policy acquisition costs (601) (548)
Depreciation and amortization 127 129
Other operating activities, net 119 122
Additional Cash Flow Elements, Operating Activities    
Increase (Decrease) in Reinsurance Recoverable 11 29
Net change in accrued and deferred income taxes 102 90
Increase in insurance liabilities 870 761
Increase (Decrease) in Premiums Receivable (396) (334)
Net change in other assets and other liabilities (405) (411)
Net cash provided by operating activities 1,097 871
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, AFS 1,548 2,228
Fixed maturities, at fair value using the fair value option 0 0
Equity securities, at fair value 176 1,422
Mortgage loans 165 204
Limited partnership and other alternative investments 32 96
Payments for the purchase of:    
Fixed maturities, AFS (2,752) (2,767)
Payments for the purchase of Fair Value Option Fixed Maturity Securties 0 0
Equity securities, at fair value (5) (891)
Mortgage loans (268) (252)
Limited partnership and other alternative investments (156) (273)
Payments for (Proceeds from) Derivative Instrument, Investing Activities 0 (23)
Net additions of property and equipment (50) (49)
Net proceeds from (payments for) short-term investments 875 (180)
Other investing activities, net 0 (7)
Net cash used for investing activities (435) (446)
Financing Activities    
Deposits and other additions to investment and universal life-type contracts 37 18
Withdrawals and other deductions from investment and universal life-type contracts (43) (42)
ProceedsPaymentsIssuanceReturnOfSharesUnderIncentiveAndShareBasedCompensationPlans (27) (32)
Treasury stock acquired (350) (350)
Dividends paid on preferred stock (5) (5)
Dividends paid on common stock (141) (134)
Net cash used for financing activities (529) (545)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations 0 (6)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total 133 (126)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 189 344
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 322 218
Supplemental Disclosure of Cash Flow Information    
Income tax paid 2 0
Interest paid $ 52 $ 61