XML 25 R8.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net (loss) income $ (1,061) $ 775
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, amortization and other non-cash items 646 818
Net (gains) losses on investments and derivatives 1,167 (1,011)
Pension and other postretirement remeasurement (gains) losses 91 (404)
Amortization of deferred gain on reinsurance 0 (5)
Loss on disposition of operations, net of tax 0 3,754
Changes in:    
Policy benefits and other insurance reserves 3,520 2,771
Unearned premiums 2,256 1,490
Deferred policy acquisition costs (562) (492)
Premium installment receivables, net (1,022) (606)
Reinsurance recoverables, net 56 (1,973)
Income taxes (559) 31
Other operating assets and liabilities (381) (903)
Net cash provided by operating activities 4,151 4,245
Proceeds from sales    
Fixed income securities 25,577 22,610
Equity securities 8,767 3,151
Limited partnership interests 786 574
Other investments 1,034 696
Investment collections    
Fixed income securities 526 1,965
Mortgage loans 92 747
Other investments 144 421
Investment purchases    
Fixed income securities (30,103) (22,682)
Equity securities (7,613) (1,790)
Limited partnership interests (860) (927)
Mortgage loans (104) (97)
Other investments (269) (1,470)
Change in short-term and other investments, net 1,094 854
Purchases of property and equipment, net (352) (286)
Acquisition of operations, net of cash acquired 0 (3,481)
Other 0 4
Net cash (used in) provided by investing activities (1,281) 289
Cash flows from financing activities    
Redemption and repayment of long-term debt 0 (422)
Redemption of preferred stock 0 (450)
Contractholder fund deposits 102 741
Contractholder fund withdrawals (31) (1,036)
Dividends paid on common stock (698) (650)
Dividends paid on preferred stock (79) (87)
Treasury stock purchases (2,150) (2,257)
Shares reissued under equity incentive plans, net 61 108
Other (52) (12)
Net cash used in financing activities (2,847) (4,065)
Net increase in cash, including cash classified as assets held for sale 23 469
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 0 156
Cash from continuing operations at end of period $ 786 $ 690