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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2024
Sep. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:              
Net income (loss) $ 150 $ 565 $ 195 $ 760 $ 788 $ 1,796 $ 1,624
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:              
Interest credited to policyholders’ account balances 678 599 579 1,178 1,879 2,493 2,041
Policy charges and fee income (636)   (614)        
Net derivative (gains) losses (799)   1,376        
Credit and intent to sell losses on available for sale debt securities and loans 0   20        
Investment (gains) losses, net 14   19        
(Gains) losses on businesses held-for-sale 0   (1)        
Realized and unrealized (gains) losses on trading securities 1   (37)        
Loss on novation 499   0        
AB Retirement plan losses 21   0        
Non-cash long term incentive compensation expense 26   25        
Amortization and depreciation 213   241 434 646 868 821
Remeasurement of liability for future policy benefits (2) (7) 5 (2) (3) (6) 86
Change in market risk benefits 672 (132) (1,088) (1,220) (1,123) (1,940) (1,815)
Equity (income) loss from limited partnerships (28)   (50)        
Changes in:              
Net broker-dealer and customer related receivables/payables 248   (24)        
Reinsurance recoverable (307)   (377) (628) (614) (868) (1,469)
Segregated cash and securities, net (272)   2        
Capitalization of deferred policy acquisition costs (282)   (270)        
Future policy benefits 28   117       329
Current and deferred income taxes 6   79 149 176 315 (1,168)
Other, net (72)   (166)   257 132 (187)
Net cash provided by (used in) operating activities 158   31 923 1,606 2,006 (208)
Proceeds from the sale/maturity/pre-payment of:              
Fixed maturities, available-for-sale 4,470   1,906        
Fixed maturities, at fair value using the fair value option 131   199        
Mortgage loans on real estate 349   256        
Trading account securities 168   251        
Short term investments 34   282        
Other 130   142        
Payment for the purchase/origination of:              
Fixed maturities, available-for-sale (4,989)   (3,153)        
Fixed maturities, at fair value using the fair value option (190)   (216)        
Mortgage loans on real estate (841)   (658)        
Trading account securities (216)   (504)        
Short term investments (48)   (258)        
Other (297)   (81)        
Cash settlements related to derivative instruments, net 200   (1,179)        
Investment in capitalized software, leasehold improvements and EDP equipment (10)   (63)        
Other, net (90)   394        
Net cash provided by (used in) investing activities (1,199)   (2,682)        
Policyholders’ account balances:              
Deposits 6,722   4,239        
Withdrawals (2,059)   (2,572)        
Transfers (to) from Separate Accounts 484   401        
Payments of market risk benefits (154)   (202)        
Repayment of short-term financings 0   (254)        
Change in collateralized pledged assets 8   (171)        
Change in collateralized pledged liabilities (2,871)   3,663        
(Decrease) increase in overdrafts payable 0   46        
Issuance of long-term debt 495   0        
Proceeds from collateralized loan obligations 34   5        
Repayment of collateralized loan obligations (24)   0        
Proceeds from notes issued by consolidated VIEs 461   0        
Repayment of notes issued by consolidated VIEs (465)   0        
Dividends paid on common stock (74)   (73)        
Dividends paid on preferred stock (14)   (14)        
Purchase of AB Holding Units to fund long-term incentive compensation plan awards, net (30)   (6)        
Purchase of treasury shares (262)   (253)        
Purchases (redemptions) of noncontrolling interests of consolidated company-sponsored investment funds 92   203        
Distribution to noncontrolling interest of consolidated subsidiaries (130)   (99)        
Change in securities lending 9   31        
Other, net 6   1        
Net cash provided by (used in) financing activities 2,228   4,945        
Effect of exchange rate changes on cash and cash equivalents 13   (10)        
Change in cash and cash equivalents 1,200   2,284        
Cash and cash equivalents, beginning of period 6,964 $ 10,357 8,239 $ 8,239 $ 8,239 8,239  
Change in cash of businesses held-for-sale 0   (166)        
Cash and cash equivalents, end of period 8,164   10,357     $ 6,964 $ 8,239
Non-cash transactions from investing and financing activities:              
Right-of-use assets obtained in exchange for lease obligations $ 15   $ 205