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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income (loss) $ 646 $ (1,387)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other non-cash items 236 260
Net (gains) losses on investments and derivatives 267 (505)
Pension and other postretirement remeasurement (gains) losses (247) (310)
Amortization of deferred gain on reinsurance 0 (2)
Interest credited to contractholder funds 8 94
Loss on disposition of operations, net of tax 0 3,998
Changes in:    
Accident, health and other policy benefits (121) 817
Unearned premiums 392 33
Deferred policy acquisition costs (99) (26)
Premium installment receivables, net (502) (124)
Reinsurance recoverables, net 334 (1,201)
Income taxes 92 181
Other operating assets and liabilities (574) (440)
Net cash provided by operating activities 432 1,388
Proceeds from sales    
Fixed income securities 12,400 10,290
Equity securities 5,216 992
Limited partnership interests 300 152
Other investments 208 328
Investment collections    
Fixed income securities 104 737
Mortgage loans 3 134
Other investments 49 109
Investment purchases    
Fixed income securities (13,220) (7,968)
Equity securities (3,624) (539)
Limited partnership interests (216) (322)
Mortgage loans (37) 0
Other investments (186) (603)
Change in short-term and other investments, net 114 744
Purchases of property and equipment, net (130) (61)
Acquisition of operations, net of cash acquired 0 (3,480)
Net cash provided by investing activities 981 513
Cash flows from financing activities    
Redemption and repayment of long-term debt 0 (422)
Redemption of preferred stock 0 (250)
Contractholder fund deposits 34 252
Contractholder fund withdrawals (9) (374)
Dividends paid on common stock (230) (164)
Dividends paid on preferred stock (26) (27)
Treasury stock purchases (802) (467)
Shares reissued under equity incentive plans, net 17 4
Other (30) (32)
Net cash used in financing activities (1,046) (1,480)
Net increase in cash, including cash classified as assets held for sale 367 421
Cash from continuing operations at beginning of period 763 311
Cash classified as assets held for sale at beginning of period 0 66
Less: Cash classified as assets held for sale at end of period 0 89
Cash from continuing operations at end of period $ 1,130 $ 709