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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net loss $ (1,696) $ (372)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation, amortization and other non-cash items 363 452
Net (gains) losses on investments and derivatives 137 1,000
Pension and other postretirement remeasurement (gains) losses (93) 12
Changes in:    
Policy benefits and other insurance reserves 2,917 1,222
Unearned premiums 1,032 1,201
Deferred policy acquisition costs (162) (315)
Premium installment receivables, net (532) (664)
Reinsurance recoverables, net 468 645
Income taxes (538) (288)
Other operating assets and liabilities (126) (788)
Net cash provided by operating activities 1,770 2,105
Proceeds from sales    
Fixed income securities 12,454 19,928
Equity securities 4,183 7,622
Limited partnership interests 516 633
Other investments 81 926
Investment collections    
Fixed income securities 992 259
Mortgage loans 36 60
Other investments 53 110
Investment purchases    
Fixed income securities (15,875) (22,907)
Equity securities (1,717) (6,028)
Limited partnership interests (424) (590)
Mortgage loans (100) (89)
Other investments (140) (232)
Change in short-term and other investments, net (986) 398
Purchases of property and equipment, net (141) (228)
Proceeds from sale of property and equipment 19 0
Net cash used in investing activities (1,049) (138)
Cash flows from financing activities    
Proceeds from issuance of debt 743 0
Repayment of debt (750) 0
Proceeds from issuance of preferred stock 587 0
Redemption of preferred stock (575) 0
Contractholder fund deposits 66 69
Contractholder fund withdrawals (16) (21)
Dividends paid on common stock (459) (466)
Dividends paid on preferred stock (53) (53)
Treasury stock purchases (307) (1,485)
Shares reissued under equity incentive plans, net 10 55
Other (4) (63)
Net cash used in financing activities (758) (1,964)
Net (decrease) increase in cash (37) 3
Cash at beginning of period 736 763
Cash at end of period $ 699 $ 766