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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ 1,097 $ 1,608
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Interest credited to policyholders’ account balances 964 623
Policy charges and fee income (1,182) (1,270)
Net derivative (gains) losses 1,758 (2,017)
Credit and intent to sell losses on available for sale debt securities and loans 80 (1)
Investment (gains) losses, net 63 559
(Gains) losses on businesses held-for-sale 2 0
Realized and unrealized (gains) losses on trading securities (44) 196
Non-cash long-term incentive compensation expense 41 62
Amortization and depreciation 380 178
Remeasurement of liability for future policy benefits (3) 34
Change in market risk benefits (955) 347
Equity (income) loss from limited partnerships (61) (106)
Changes in:    
Net broker-dealer and customer related receivables/payables (686) 183
Reinsurance recoverable (801) (263)
Segregated cash and securities, net 643 (243)
Capitalization of deferred policy acquisition costs (450) (429)
Future policy benefits 40 (349)
Current and deferred income taxes [1] (1,177) 309
Other, net 65 39
Net cash provided by (used in) operating activities (226) (540)
Proceeds from the sale/maturity/pre-payment of:    
Fixed maturities, available-for-sale 4,790 12,532
Fixed maturities, at fair value using the fair value option 239 345
Mortgage loans on real estate 236 713
Trading account securities 480 93
Short term investments 2,402 106
Other 463 296
Payment for the purchase/origination of:    
Fixed maturities, available-for-sale (5,878) (13,977)
Fixed maturities, at fair value using the fair value option (309) (344)
Mortgage loans on real estate (1,114) (1,175)
Trading account securities (660) (87)
Short term investments (2,218) (325)
Other (388) (786)
Cash settlements related to derivative instruments, net (655) 666
Investment in capitalized software, leasehold improvements and EDP equipment (57) (19)
Other, net 152 214
Net cash provided by (used in) investing activities (2,517) (1,748)
Cash flows from financing activities:    
Deposits 9,060 7,214
Withdrawals (4,830) (3,056)
Transfers (to) from Separate Accounts 647 857
Payments of market risk benefits (375) (284)
Change in short-term financings (759) 153
Change in collateralized pledged assets (45) 65
Change in collateralized pledged liabilities 2,282 (1,529)
(Decrease) increase in overdrafts payable 0 (14)
Issuance of long-term debt 496 0
Proceeds from collateralized loan obligations 40 0
Proceeds from notes issued by consolidated VIEs 362 (43)
Dividends paid on common stock (150) (145)
Dividends paid on preferred stock (40) (40)
Purchases of AB Holding Units to fund long-term incentive compensation plan awards (19) (107)
Purchase of treasury shares (440) (499)
Purchases (redemptions) of noncontrolling interests of consolidated company-sponsored investment funds 63 (61)
Distribution to noncontrolling interest of consolidated subsidiaries (174) (238)
Changes in securities lending payable 29 0
Other, net (4) (12)
Net cash provided by (used in) financing activities 6,143 2,261
Effect of exchange rate changes on cash and cash equivalents 16 (52)
Change in cash and cash equivalents 3,416 (79)
Cash and cash equivalents, beginning of period 4,281 5,188
Change in cash of businesses held-for-sale (4) 0
Cash and cash equivalents, end of period 7,693 5,109
Non-cash transactions from investing and financing activities:    
Right-of-use assets obtained in exchange for lease obligations $ 31 $ 34
[1] Prior period amounts have been adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long Duration Contracts.