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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income (loss) $ 1,823 $ 1,643 $ 2,394
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Interest credited to policyholders’ account balances 2,499 2,083 1,410
Policy charges and fee income (2,495) (2,380) (2,454)
Net derivative (gains) losses 2,551 2,397 (907)
Credit and intent to sell losses on available for sale debt securities and loans 82 220 314
Investment (gains) losses, net 51 493 631
(Gains) losses on businesses held-for-sale (135) (1) 7
Realized and unrealized (gains) losses on trading securities (88) (77) 198
Non-cash long term incentive compensation expense 285 234 286
Amortization and depreciation 860 812 636
Remeasurement of liability for future policy benefits 6 75 66
Change in market risk benefits (1,971) (1,807) (1,280)
Equity (income) loss from limited partnerships (174) (125) (146)
Changes in:      
Net broker-dealer and customer related receivables/payables (446) (910) 189
Reinsurance recoverable (866) (1,471) (636)
Segregated cash and securities, net 368 655 (18)
Capitalization of deferred policy acquisition costs (1,177) (976) (841)
Future policy benefits 394 329 (495)
Current and deferred income taxes 322 (1,163) 470
Other, net 117 (239) (74)
Net cash provided by (used in) operating activities 2,006 (208) (250)
Proceeds from the sale/maturity/pre-payment of:      
Fixed maturities, available-for-sale 10,934 10,492 15,547
Fixed maturities, at fair value using the fair value option 875 483 525
Mortgage loans on real estate 1,170 446 1,154
Trading account securities 1,087 963 371
Short term investments 836 3,324 575
Other 777 738 573
Payment for the purchase/origination of:      
Fixed maturities, available-for-sale (21,058) (12,031) (18,502)
Fixed maturities, at fair value using the fair value option (1,253) (592) (488)
Mortgage loans on real estate (3,162) (2,246) (3,683)
Trading account securities (2,219) (1,301) (521)
Short term investments (423) (2,772) (1,502)
Other (278) (878) (1,173)
Purchase of business, net of cash acquired 0 0 40
Cash from the sale of business, net of cash sold 0 0 0
Cash settlements related to derivative instruments, net (3,131) (1,335) (316)
Investment in capitalized software, leasehold improvements and EDP equipment (153) (117) (167)
Other, net 143 (25) 80
Net cash provided by (used in) investing activities (15,855) (4,851) (7,487)
Policyholders’ account balances:      
Deposits 19,094 16,925 16,367
Withdrawals (10,518) (9,842) (6,962)
Transfers (to) from Separate Accounts 1,749 1,359 1,447
Payments of market risk benefits (683) (744) (601)
Repayment of short-term financings (254) (504) 147
Change in collateralized pledged assets (85) (49) 36
Change in collateralized pledged liabilities 4,849 2,354 (1,575)
(Decrease) increase in overdrafts payable 0 0 (25)
Issuance of long-term debt 0 497 0
Repayment of long term debt (565) 0 0
Repayment of acquisition-related debt obligation 0 0 (43)
Proceeds from collateralized loan obligations 52 40 0
Repayment of collateralized loan obligations (61) 0 0
Proceeds from notes issued by consolidated VIEs 552 362 6
Repayment of notes issued by consolidated VIEs (16) 0 0
Dividends paid on common stock (302) (301) (294)
Dividends paid on preferred stock (80) (80) (80)
Redemption of preferred stock (55) 0 0
Purchase of AllianceBernstein Units (35) 0 0
Purchase of AB Holding Units to fund long-term incentive compensation plan awards, net (157) (144) (211)
Purchase of treasury shares (1,014) (919) (849)
Purchases (redemptions) of noncontrolling interests of consolidated company-sponsored investment funds 340 274 52
Distribution to noncontrolling interest of consolidated subsidiaries (384) (334) (401)
Change in securities lending 21 116 0
Other, net (7) (10) 31
Net cash provided by (used in) financing activities 12,441 9,000 7,045
Effect of exchange rate changes on cash and cash equivalents (20) 23 (56)
Change in cash and cash equivalents (1,428) 3,964 (748)
Cash and cash equivalents, beginning of period 8,239 4,281 5,188
Change in cash of businesses held-for-sale 153 (6) (159)
Cash and cash equivalents, end of period 6,964 8,239 4,281
Supplemental cash flow information:      
Interest paid 318 344 263
Income taxes (refunded) paid (38) 266 89
Non-cash transactions from investing and financing activities:      
Securities received in exchange for the 2029 Notes [1] 547 0  
Issuance of long-term debt in exchange for the 2029 Notes [1] 600 0  
Deconsolidated trading securities [2] (1,153) 0  
Deconsolidated redeemable noncontrolling interests [2] (1,040) 0  
Transfer of assets to reinsurer $ 0 $ 0 $ (2,762)
[1] See Note 19 of the Notes to these Consolidated Financial Statements for details of the 2029 Trust Eligible Assets received in exchange for the 2029 Notes.
[2] See Note 24 of the Notes to these Consolidated Financial Statements for details of the deconsolidated funds.