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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net income (loss) $ 4,565 $ (79)
Adjustments to reconcile net income to net cash flows from operating activities    
Net realized (gains) losses (854) 928
Amortization of premiums/discounts on fixed maturities 147 192
Amortization of purchased intangibles 145 145
Deferred income taxes (28) (302)
Unpaid losses and loss expenses 2,165 3,172
Unearned premiums 1,533 538
Future policy benefits 110 87
Insurance and reinsurance balances payable 796 118
Accounts payable, accrued expenses, and other liabilities (630) (304)
Income taxes payable 50 2
Insurance and reinsurance balances receivable (1,180) (645)
Reinsurance recoverable (47) (71)
Deferred policy acquisition costs (198) (62)
Other (1,347) (22)
Net cash flows from operating activities 5,227 3,697
Cash flows from investing activities    
Purchases of fixed maturities available for sale (15,217) (13,058)
Purchases of fixed maturities held to maturity (211) (42)
Purchases of equity securities (642) (2,824)
Sales of fixed maturities available for sale 3,469 7,734
Sales of equity securities 614 1,353
Maturities and redemptions of fixed maturities available for sale 9,410 5,220
Maturities and redemptions of fixed maturities held to maturity 1,163 642
Net change in short-term investments (120) 173
Net derivative instruments settlements (87) (18)
Private equity contribution (873) (546)
Private equity distribution 640 443
Payment, including deposit, for Huatai Group Interest (65) (1,550)
Other (106) (221)
Net cash flows used for investing activities (2,025) (2,694)
Cash flows from financing activities    
Dividends paid on Common Shares (703) (678)
Common Shares repurchased (2,440) (333)
Proceeds from issuance of repurchase agreements 550 1,402
Repayment of repurchase agreements (550) (1,402)
Proceeds from share-based compensation plans 178 74
Policyholder contract deposits and other 268 215
Policyholder contract withdrawals and other (245) (173)
Proceeds from (Payments for) Other Financing Activities (80) (3)
Net cash flows used for financing activities (3,022) (898)
Effect of foreign currency rate changes on cash and restricted cash (18) (42)
Net increase (decrease) in cash and restricted cash 162 63
Cash and restricted cash - beginning of period 1,836 1,646
Cash and restricted cash - end of period 1,998 1,709
Supplemental cash flow information    
Taxes paid 631 442
Interest paid $ 271 $ 286