XML 239 R177.htm IDEA: XBRL DOCUMENT v3.25.0.1
Information Provided in Connection with Investments in Deferred Annuity Contracts and SignatureNotes Issued or Assumed by John Hancock Life Insurance Company (U.S.A.) - Consolidated Statement of Cash Flows (Details) - CAD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating activities    
Net income (loss) $ 5,878 $ 5,607
Adjustments:    
Equity in net income of unconsolidated subsidiaries 0 0
Increase (decrease) in insurance contract net liabilities 9,435 10,697
Decrease (increase) in investment contract liabilities 504 435
(Increase) decrease in reinsurance contract assets, excluding reinsurance transactions (613) 974
Amortization of (premium) discount on invested assets (290) (141)
Contractual service margin (“CSM”) amortization (2,376) (1,998)
Other amortization 869 581
Net realized and unrealized (gains) losses and impairment on assets (860) (2,845)
Deferred income tax expenses (recoveries) 311 470
Net loss on reinsurance transactions (pre-tax) (note 6) 71 0
Stock option expense 0 2
Cash provided by operating activities before undernoted items 12,929 13,782
Dividends from unconsolidated subsidiaries 0 0
Changes in policy related and operating receivables and payables 13,565 6,641
Cash provided by (used in) operating activities 26,494 20,423
Investing activities    
Purchases and mortgage advances (131,123) (84,021)
Disposals and repayments 112,671 70,281
Change in investment broker net receivables and payables 290 21
Net cash increase (decrease) from sale (purchase) of subsidiaries (297) (1)
Investment in common shares of subsidiaries 0 0
Capital contribution to unconsolidated subsidiaries 0 0
Return of capital from unconsolidated subsidiaries 0 0
Notes receivable from parent 0 0
Notes receivable from subsidiaries 0 0
Cash provided by (used in) investing activities (18,459) (13,720)
Financing activities    
Change in repurchase agreements and securities sold but not yet purchased 460 (693)
Issue of capital instruments, net 2,591 1,194
Redemption of capital instruments (1,886) (600)
Secured borrowing from securitization transactions 667 537
Changes in deposits from Bank clients, net 413 (895)
Lease payments (118) (98)
Shareholders’ dividends and other equity distributions (3,159) (2,972)
Common shares repurchased (3,272) (1,595)
Common shares issued, net 144 94
Contributions from (distributions to) non-controlling interests, net (14) (14)
Dividends paid to parent 0 0
Capital contributions by parent 0 0
Return of capital to parent 0 0
Notes payable to parent 0 0
Notes payable to subsidiaries 0 0
Cash provided by (used in) financing activities (4,174) (5,042)
Cash and short-term securities    
Increase (decrease) during the year 3,861 1,661
Effect of foreign exchange rate changes on cash and short-term securities 1,197 (412)
Balance, beginning of year 19,884 18,635
Balance, end of year 24,942 19,884
Cash and short-term securities    
Gross cash and short-term securities at beginning of period 20,338 19,153
Net payments in transit, included in other liabilities beginning balance (454) (518)
Balance, beginning of year 19,884 18,635
Gross cash and short-term securities at end of year 25,789 20,338
Net payments in transit, included in other liabilities ending balance (847) (454)
Balance, end of year 24,942 19,884
Supplemental disclosures on cash flow information    
Interest received 13,496 12,768
Interest paid 1,574 1,548
Income taxes paid (refund) 755 436
MFC (Guarantor)    
Operating activities    
Net income (loss) 5,385 5,103
Adjustments:    
Equity in net income of unconsolidated subsidiaries (5,117) (4,932)
Increase (decrease) in insurance contract net liabilities 0 0
Decrease (increase) in investment contract liabilities 0 0
(Increase) decrease in reinsurance contract assets, excluding reinsurance transactions 0 0
Amortization of (premium) discount on invested assets 0 0
Contractual service margin (“CSM”) amortization 0 0
Other amortization 11 10
Net realized and unrealized (gains) losses and impairment on assets (38) 3
Deferred income tax expenses (recoveries) 22 (11)
Net loss on reinsurance transactions (pre-tax) (note 6) 0  
Stock option expense   0
Cash provided by operating activities before undernoted items 263 173
Dividends from unconsolidated subsidiaries 7,150 5,600
Changes in policy related and operating receivables and payables 221 (4)
Cash provided by (used in) operating activities 7,634 5,769
Investing activities    
Purchases and mortgage advances 0 0
Disposals and repayments 0 0
Change in investment broker net receivables and payables 0 0
Net cash increase (decrease) from sale (purchase) of subsidiaries 0 0
Investment in common shares of subsidiaries (3,432) (1,843)
Capital contribution to unconsolidated subsidiaries 0 0
Return of capital from unconsolidated subsidiaries 0 0
Notes receivable from parent 0 0
Notes receivable from subsidiaries (135) (25)
Cash provided by (used in) investing activities (3,567) (1,868)
Financing activities    
Change in repurchase agreements and securities sold but not yet purchased 0 0
Issue of capital instruments, net 2,591 1,194
Redemption of capital instruments (1,277) (600)
Secured borrowing from securitization transactions 0 0
Changes in deposits from Bank clients, net 0 0
Lease payments 0 0
Shareholders’ dividends and other equity distributions (3,159) (2,972)
Common shares repurchased (3,272) (1,595)
Common shares issued, net 144 94
Contributions from (distributions to) non-controlling interests, net 0 0
Dividends paid to parent 0 0
Capital contributions by parent 0 0
Return of capital to parent 0 0
Notes payable to parent 0 0
Notes payable to subsidiaries 938 4
Cash provided by (used in) financing activities (4,035) (3,875)
Cash and short-term securities    
Increase (decrease) during the year 32 26
Effect of foreign exchange rate changes on cash and short-term securities 8 (3)
Balance, beginning of year 86 63
Balance, end of year 126 86
Cash and short-term securities    
Gross cash and short-term securities at beginning of period 86 63
Net payments in transit, included in other liabilities beginning balance 0 0
Balance, beginning of year 86 63
Gross cash and short-term securities at end of year 126 86
Net payments in transit, included in other liabilities ending balance 0 0
Balance, end of year 126 86
Supplemental disclosures on cash flow information    
Interest received 831 650
Interest paid 475 418
Income taxes paid (refund) 8 2
JHUSA (Issuer)    
Operating activities    
Net income (loss) 1,059 809
Adjustments:    
Equity in net income of unconsolidated subsidiaries (550) (811)
Increase (decrease) in insurance contract net liabilities 441 455
Decrease (increase) in investment contract liabilities 70 (112)
(Increase) decrease in reinsurance contract assets, excluding reinsurance transactions (136) 28
Amortization of (premium) discount on invested assets 37 30
Contractual service margin (“CSM”) amortization (441) (455)
Other amortization 147 147
Net realized and unrealized (gains) losses and impairment on assets 587 471
Deferred income tax expenses (recoveries) 49 (141)
Net loss on reinsurance transactions (pre-tax) (note 6) 33  
Stock option expense   (3)
Cash provided by operating activities before undernoted items 1,296 418
Dividends from unconsolidated subsidiaries 689 386
Changes in policy related and operating receivables and payables 1,387 (649)
Cash provided by (used in) operating activities 3,372 155
Investing activities    
Purchases and mortgage advances (19,159) (15,165)
Disposals and repayments 16,485 16,159
Change in investment broker net receivables and payables (22) 12
Net cash increase (decrease) from sale (purchase) of subsidiaries 0 0
Investment in common shares of subsidiaries 0 0
Capital contribution to unconsolidated subsidiaries (2) (1)
Return of capital from unconsolidated subsidiaries 17 5
Notes receivable from parent 0 0
Notes receivable from subsidiaries 0 0
Cash provided by (used in) investing activities (2,681) 1,010
Financing activities    
Change in repurchase agreements and securities sold but not yet purchased 0 0
Issue of capital instruments, net 0 0
Redemption of capital instruments (609) 0
Secured borrowing from securitization transactions 0 0
Changes in deposits from Bank clients, net 0 0
Lease payments (3) (3)
Shareholders’ dividends and other equity distributions 0 0
Common shares repurchased 0 0
Common shares issued, net 0 0
Contributions from (distributions to) non-controlling interests, net 0 0
Dividends paid to parent 595 679
Capital contributions by parent 0 0
Return of capital to parent 0 0
Notes payable to parent 0 0
Notes payable to subsidiaries 0 0
Cash provided by (used in) financing activities (17) 676
Cash and short-term securities    
Increase (decrease) during the year 674 1,841
Effect of foreign exchange rate changes on cash and short-term securities 363 (52)
Balance, beginning of year 4,004 2,215
Balance, end of year 5,041 4,004
Cash and short-term securities    
Gross cash and short-term securities at beginning of period 4,329 2,614
Net payments in transit, included in other liabilities beginning balance (325) (399)
Balance, beginning of year 4,004 2,215
Gross cash and short-term securities at end of year 5,436 4,329
Net payments in transit, included in other liabilities ending balance (395) (325)
Balance, end of year 5,041 4,004
Supplemental disclosures on cash flow information    
Interest received 3,872 3,369
Interest paid 69 115
Income taxes paid (refund) 1 (1)
Other subsidiaries    
Operating activities    
Net income (loss) 6,160 6,247
Adjustments:    
Equity in net income of unconsolidated subsidiaries (1,059) (809)
Increase (decrease) in insurance contract net liabilities 8,994 10,242
Decrease (increase) in investment contract liabilities 434 547
(Increase) decrease in reinsurance contract assets, excluding reinsurance transactions (477) 946
Amortization of (premium) discount on invested assets (327) (171)
Contractual service margin (“CSM”) amortization (1,935) (1,543)
Other amortization 711 424
Net realized and unrealized (gains) losses and impairment on assets (1,409) (3,319)
Deferred income tax expenses (recoveries) 240 622
Net loss on reinsurance transactions (pre-tax) (note 6) 38  
Stock option expense   5
Cash provided by operating activities before undernoted items 11,370 13,191
Dividends from unconsolidated subsidiaries (595) (679)
Changes in policy related and operating receivables and payables 11,957 7,294
Cash provided by (used in) operating activities 22,732 19,806
Investing activities    
Purchases and mortgage advances (111,964) (68,856)
Disposals and repayments 96,186 54,122
Change in investment broker net receivables and payables 312 9
Net cash increase (decrease) from sale (purchase) of subsidiaries (297) (1)
Investment in common shares of subsidiaries 0 0
Capital contribution to unconsolidated subsidiaries 0 0
Return of capital from unconsolidated subsidiaries 0 0
Notes receivable from parent (938) (4)
Notes receivable from subsidiaries 0 0
Cash provided by (used in) investing activities (16,701) (14,730)
Financing activities    
Change in repurchase agreements and securities sold but not yet purchased 460 (693)
Issue of capital instruments, net 0 0
Redemption of capital instruments 0 0
Secured borrowing from securitization transactions 667 537
Changes in deposits from Bank clients, net 413 (895)
Lease payments (115) (95)
Shareholders’ dividends and other equity distributions 0 0
Common shares repurchased 0 0
Common shares issued, net 3,432 1,843
Contributions from (distributions to) non-controlling interests, net (14) (14)
Dividends paid to parent (7,839) (5,986)
Capital contributions by parent 2 1
Return of capital to parent (17) (5)
Notes payable to parent 135 25
Notes payable to subsidiaries 0 0
Cash provided by (used in) financing activities (2,876) (5,282)
Cash and short-term securities    
Increase (decrease) during the year 3,155 (206)
Effect of foreign exchange rate changes on cash and short-term securities 826 (357)
Balance, beginning of year 15,794 16,357
Balance, end of year 19,775 15,794
Cash and short-term securities    
Gross cash and short-term securities at beginning of period 15,923 16,476
Net payments in transit, included in other liabilities beginning balance (129) (119)
Balance, beginning of year 15,794 16,357
Gross cash and short-term securities at end of year 20,227 15,923
Net payments in transit, included in other liabilities ending balance (452) (129)
Balance, end of year 19,775 15,794
Supplemental disclosures on cash flow information    
Interest received 10,582 10,166
Interest paid 2,819 2,432
Income taxes paid (refund) 746 435
Consolidation adjustments    
Operating activities    
Net income (loss) (6,726) (6,552)
Adjustments:    
Equity in net income of unconsolidated subsidiaries 6,726 6,552
Increase (decrease) in insurance contract net liabilities 0 0
Decrease (increase) in investment contract liabilities 0 0
(Increase) decrease in reinsurance contract assets, excluding reinsurance transactions 0 0
Amortization of (premium) discount on invested assets 0 0
Contractual service margin (“CSM”) amortization 0 0
Other amortization 0 0
Net realized and unrealized (gains) losses and impairment on assets 0 0
Deferred income tax expenses (recoveries) 0 0
Net loss on reinsurance transactions (pre-tax) (note 6) 0  
Stock option expense   0
Cash provided by operating activities before undernoted items 0 0
Dividends from unconsolidated subsidiaries (7,244) (5,307)
Changes in policy related and operating receivables and payables 0 0
Cash provided by (used in) operating activities (7,244) (5,307)
Investing activities    
Purchases and mortgage advances 0 0
Disposals and repayments 0 0
Change in investment broker net receivables and payables 0 0
Net cash increase (decrease) from sale (purchase) of subsidiaries 0 0
Investment in common shares of subsidiaries 3,432 1,843
Capital contribution to unconsolidated subsidiaries 2 1
Return of capital from unconsolidated subsidiaries (17) (5)
Notes receivable from parent 938 4
Notes receivable from subsidiaries 135 25
Cash provided by (used in) investing activities 4,490 1,868
Financing activities    
Change in repurchase agreements and securities sold but not yet purchased 0 0
Issue of capital instruments, net 0 0
Redemption of capital instruments 0 0
Secured borrowing from securitization transactions 0 0
Changes in deposits from Bank clients, net 0 0
Lease payments 0 0
Shareholders’ dividends and other equity distributions 0 0
Common shares repurchased 0 0
Common shares issued, net (3,432) (1,843)
Contributions from (distributions to) non-controlling interests, net 0 0
Dividends paid to parent 7,244 5,307
Capital contributions by parent (2) (1)
Return of capital to parent 17 5
Notes payable to parent (135) (25)
Notes payable to subsidiaries (938) (4)
Cash provided by (used in) financing activities 2,754 3,439
Cash and short-term securities    
Increase (decrease) during the year 0 0
Effect of foreign exchange rate changes on cash and short-term securities 0 0
Balance, beginning of year 0 0
Balance, end of year 0 0
Cash and short-term securities    
Gross cash and short-term securities at beginning of period 0 0
Net payments in transit, included in other liabilities beginning balance 0 0
Balance, beginning of year 0 0
Gross cash and short-term securities at end of year 0 0
Net payments in transit, included in other liabilities ending balance 0 0
Balance, end of year 0 0
Supplemental disclosures on cash flow information    
Interest received (1,789) (1,417)
Interest paid (1,789) (1,417)
Income taxes paid (refund) $ 0 $ 0