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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net earnings $ 155 $ 945
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 285 235
Equity in earnings of unconsolidated affiliates (1) (16)
Loss on sales of investments and other assets and asset impairments, net 396 71
Interest credited/index credits to contractholder account balances 857 (827)
Change in market risk benefits, net 29 (119)
Deferred policy acquisition costs and deferred sales inducements (518) (371)
Charges assessed to contractholders for mortality and admin (122) (107)
Non-cash lease costs 69 71
Operating lease payments (76) (75)
Distributions from unconsolidated affiliates, return on investment 89 38
Stock-based compensation cost 28 24
Change in NAV of limited partnerships, net (96) (172)
Change in valuation of derivatives, equity and preferred securities, net (385) 1,072
Changes in assets and liabilities, net of effects from acquisitions:    
Change in insurance recoverable (27) 209
Change in future policy benefits 421 330
Change in funds withheld from reinsurers 1,980 617
Net decrease in trade receivables 10 27
Net decrease in reserve for title claim losses (29) (39)
Net change in income taxes 7 146
Net change in other assets and other liabilities 67 (564)
Net cash provided by operating activities 3,139 1,495
Cash flows from investing activities:    
Proceeds from sales, calls and maturities of investment securities 2,228 3,541
Proceeds from sales of property and equipment 0 5
Additions to property and equipment and capitalized software (69) (77)
Purchases of investment securities (7,170) (6,958)
Net proceeds from sales and maturities (purchases) of short-term investment securities 1,628 (1,644)
Collections of notes receivable 0 4
Additions to notes receivable (8) (94)
Acquisitions and dispositions (293) (20)
Additional investments in unconsolidated affiliates (736) (741)
Distributions from unconsolidated affiliates, return of investment 187 93
Net other investing activities 2 0
Net cash used in investing activities (4,231) (5,891)
Cash flows from financing activities:    
Debt offering 500 0
Debt costs/equity issuance additions (9) 0
F&G Credit Agreement repayments, net (35) 0
Dividends paid (243) (245)
Subsidiary dividends paid to non-controlling interest shareholders (15) (8)
Exercise of stock options 0 8
Additional investment in consolidated subsidiary (20) 0
Net change in secured trust deposits 24 239
Payment of contingent consideration for prior period acquisitions (5) (3)
Contractholder account deposits 3,847 4,513
Contractholder account withdrawals (2,080) (1,744)
F&G repurchases of FG stock (16) 0
Purchases of treasury stock (6) (298)
Net cash provided by financing activities 1,942 2,462
Net increase (decrease) in cash and cash equivalents 850 (1,934)
Cash and cash equivalents at beginning of period 2,286 4,360
Cash and cash equivalents at end of period $ 3,136 $ 2,426