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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net (loss) income $ (213) $ (1,342) $ 1,581
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation, amortization and other non-cash items 704 847 1,086
Net (gains) losses on investments and derivatives 300 1,072 (1,279)
Pension and other postretirement remeasurement (gains) losses 9 116 (644)
Amortization of deferred gain on reinsurance 0 0 (4)
Loss on disposition of operations, net of tax 0 0 4,031
Changes in:      
Policy benefits and other insurance reserves 2,202 4,445 2,444
Unearned premiums 2,385 2,539 1,608
Deferred policy acquisition costs (489) (713) (624)
Premium installment receivables, net (861) (1,038) (498)
Reinsurance recoverables, net 807 451 (1,570)
Income taxes (229) (715) 353
Other operating assets and liabilities (387) (541) (1,368)
Net cash provided by operating activities 4,228 5,121 5,116
Proceeds from sales      
Fixed income securities 22,973 31,494 31,774
Equity securities 5,400 10,969 4,513
Limited partnership interests 710 970 886
Other investments 594 1,071 1,406
Investment collections      
Fixed income securities 1,641 728 2,284
Mortgage loans 81 163 860
Other investments 152 167 550
Investment purchases      
Fixed income securities (29,431) (36,920) (33,857)
Equity securities (2,935) (9,294) (6,409)
Limited partnership interests (890) (1,258) (1,766)
Mortgage loans (145) (104) (221)
Other investments (292) (295) (1,647)
Change in short-term and other investments, net (617) 792 4,017
Purchases of property and equipment, net (267) (420) (345)
Proceeds from sale of property and equipment 27 209 0
Acquisition of operations, net of cash acquired 0 0 (3,593)
Proceeds from disposition of operations, net of cash transferred 0 0 2,058
Net cash (used in) provided by investing activities (2,999) (1,728) 510
Cash flows from financing activities      
Proceeds from issuance of debt 743 0 0
Redemption and repayment of debt (750) 0 (436)
Proceeds from issuance of preferred stock 587 0 0
Redemption of preferred stock (575) 0 (450)
Contractholder fund deposits 130 133 826
Contractholder fund withdrawals (35) (49) (1,140)
Dividends paid on common stock (925) (926) (885)
Dividends paid on preferred stock (107) (105) (114)
Treasury stock purchases (335) (2,520) (3,120)
Shares reissued under equity incentive plans, net 73 82 114
Other (49) (35) (35)
Net cash used in financing activities (1,243) (3,420) (5,240)
Net (decrease) increase in cash, including cash classified as assets held for sale (14) (27) 386
Cash from continuing operations at beginning of period 736 763 311
Cash classified as assets held for sale at beginning of period 0 0 66
Less: Cash classified as assets held for sale at end of period 0 0 0
Cash from continuing operations at end of period $ 722 $ 736 $ 763