XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Adjustments to reconcile net income to net cash flows from operating activities    
Net realized (gains) losses $ 484 $ 936
Market risk benefits gains (losses) 154 (85)
Amortization of premiums/discounts on fixed maturities (80) 185
Amortization of purchased intangibles 226 211
Equity in net income of partially-owned entities (610) (180)
Deferred income taxes 39 55
Unpaid losses and loss expenses 3,270 4,805
Unearned premiums 2,085 1,904
Future policy benefits 570 117
Insurance and reinsurance balances payable 23 544
Accounts payable, accrued expenses, and other liabilities (392) 337
Income taxes payable (6) (108)
Insurance and reinsurance balances receivable (1,618) (1,756)
Reinsurance recoverable (388) (1,850)
Deferred policy acquisition costs (832) (355)
Other 796 (95)
Net cash flows from operating activities 9,446 8,600
Cash flows from investing activities    
Purchases of fixed maturities available for sale (21,613) (23,533)
Purchases of fixed maturities held to maturity (208) (454)
Purchases of equity securities (968) (837)
Sales of fixed maturities available for sale 11,293 14,142
Sales of equity securities 531 4,453
Maturities and redemptions of fixed maturities available for sale 5,107 7,882
Maturities and redemptions of fixed maturities held to maturity 708 1,357
Net change in short-term investments 484 (1,106)
Net derivative instruments settlements (56) (52)
Private equity contribution (1,313) (2,194)
Private equity distribution 938 649
Payments to Acquire Businesses, Net of Cash Acquired 216 (5,095)
Other (553) (414)
Net cash flows used for investing activities (5,434) (5,202)
Cash flows from financing activities    
Dividends paid on Common Shares (1,044) (1,030)
Common Shares repurchased (1,848) (2,783)
Proceeds from issuance of repurchase agreements 3,778 3,552
Repayment of long-term debt (475) 0
Repayment of repurchase agreements (3,832) (2,554)
Proceeds from share-based compensation plans 140 198
Policyholder contract deposits 415 321
Policyholder contract withdrawals (269) (285)
Payment, Tax Withholding, Share-based Payment Arrangement (100) (100)
Proceeds from (Payments for) Other Financing Activities (90) (49)
Net cash flows used for financing activities (3,325) (2,730)
Effect of foreign currency rate changes on cash and restricted cash (36) (215)
Net increase (decrease) in cash and restricted cash 651 453
Cash and restricted cash - beginning of period 2,127 1,811
Cash and restricted cash - end of period 2,778 2,264
Supplemental cash flow information    
Taxes paid 1,101 964
Interest paid 345 339
Net income $ 5,725 $ 3,935