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Unaudited Interim Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 2,804 $ (270)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Realized investment (gains) losses, net (2,079) (1,667)
Policy charges and fee income (589) (701)
Interest credited to policyholders’ account balances 768 392
Depreciation and amortization 30 329
(Gains) losses on assets supporting experience-rated contractholder liabilities, net 261 838
Change in:    
Deferred policy acquisition costs 48 217
Future policy benefits and other insurance liabilities 1,662 2,825
Income taxes 582 (115)
Derivatives, net (5,222) 15,388
Other, net (1,562) (2,470)
Cash flows from (used in) operating activities (3,297) 14,766
Proceeds from the sale/maturity/prepayment of:    
Fixed maturities, available-for-sale 21,470 9,997
Fixed maturities, held-to-maturity 11 40
Fixed maturities, trading 2,092 121
Assets supporting experience-rated contractholder liabilities 4,859 7,219
Equity securities 938 523
Commercial mortgage and other loans 1,834 1,593
Policy loans 637 572
Other invested assets 684 533
Short-term investments 9,504 8,713
Payments for the purchase/origination of:    
Fixed maturities, available-for-sale (13,166) (13,379)
Fixed maturities, trading (5,220) (103)
Assets supporting experience-rated contractholder liabilities (5,104) (7,908)
Equity securities (867) (616)
Commercial mortgage and other loans (1,717) (1,632)
Policy loans (403) (505)
Other invested assets (731) (905)
Short-term investments (7,040) (11,131)
Derivatives, net (1,235) 1,106
Other, net (70) (18)
Cash flows from (used in) investing activities 6,476 (5,780)
CASH FLOWS FROM FINANCING ACTIVITIES    
Policyholders’ account deposits 7,836 14,444
Policyholders’ account withdrawals (7,782) (9,354)
Net change in securities sold under agreements to repurchase and cash collateral for loaned securities (337) 59
Cash dividends paid on Common Stock (471) (448)
Net change in financing arrangements (maturities 90 days or less) 61 630
Common Stock acquired (359) (485)
Common Stock reissued for exercise of stock options 59 45
Proceeds from the issuance of debt (maturities longer than 90 days) 64 1,550
Repayments of debt (maturities longer than 90 days) (117) (1)
Repayments of notes issued by consolidated VIEs 0 (16)
Other, net 376 (65)
Cash flows from (used in) financing activities (670) 6,359
Effect of foreign exchange rate changes on cash balances (213) (22)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS 2,296 15,323
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS, BEGINNING OF YEAR 13,855 16,474
CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS, END OF PERIOD 16,151 31,797
NON-CASH TRANSACTIONS DURING THE PERIOD    
Treasury Stock shares issued for stock-based compensation programs 127 140
RECONCILIATION TO THE UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION    
Cash and cash equivalents 16,099 [1] 31,646
Restricted cash and restricted cash equivalents (included in “Other assets”) 52 151
Total cash, cash equivalents, restricted cash and restricted cash equivalents $ 16,151 $ 31,797
[1] See Note 4 for details of balances associated with variable interest entities.