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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net income $ 244 $ 1,799
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other non-cash items 571 318
Realized capital (gains) losses (902) (242)
Pension and other postretirement remeasurement (gains) losses (444) 391
Amortization of deferred gain on reinsurance (4) (2)
Interest credited to contractholder funds 261 332
Loss on disposition of operations, net of tax 3,971 0
Changes in:    
Policy benefits and other insurance reserves 854 (594)
Unearned premiums 599 143
Deferred policy acquisition costs (273) (42)
Premium installment receivables, net (335) 81
Reinsurance recoverables, net (1,032) (56)
Income taxes 165 257
Other operating assets and liabilities (759) 491
Net cash provided by operating activities 2,916 2,876
Proceeds from sales    
Fixed income securities 16,493 19,952
Equity securities 1,867 6,473
Limited partnership interests 352 862
Other investments 637 135
Investment collections    
Fixed income securities 1,390 1,054
Mortgage loans 480 156
Other investments 243 81
Investment purchases    
Fixed income securities (16,733) (24,214)
Equity securities (1,322) (2,907)
Limited partnership interests (576) (513)
Mortgage loans (4) (196)
Other investments (1,251) (199)
Change in short-term and other investments, net 1,941 (1,477)
Purchases of property and equipment, net (197) (166)
Acquisition of operations, net of cash acquired (3,481) 1
Other 4 0
Net cash used in investing activities (157) (958)
Cash flows from financing activities    
Redemption and repayment of long-term debt (422) 0
Redemption of preferred stock (250) (288)
Contractholder fund deposits 499 494
Contractholder fund withdrawals (711) (791)
Dividends paid on common stock (409) (331)
Dividends paid on preferred stock (57) (56)
Treasury stock purchases (1,031) (821)
Shares reissued under equity incentive plans, net 85 52
Other (26) 32
Net cash used in financing activities (2,322) (1,709)
Net increase in cash, including cash classified as assets held for sale 437 209
Cash from continuing operations at beginning of period 311 273
Cash classified as assets held for sale at beginning of period 66 65
Less: Cash classified as assets held for sale at end of period 158 66
Cash from continuing operations at end of period $ 656 $ 481