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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income (loss) $ (1,348) $ 788
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Interest credited to policyholders’ account balances 2,272 1,879
Policy charges and fee income (1,733) (1,857)
Net derivative (gains) losses 1,692 2,298
Credit and intent to sell losses on available for sale debt securities and loans 43 63
Investment (gains) losses, net 1,212 38
(Gains) losses on businesses held-for-sale 0 (135)
Realized and unrealized (gains) losses on trading securities (89) (114)
Loss on novation 499 0
AB Retirement plan losses 18 0
Non-cash long term incentive compensation expense 64 78
Amortization and depreciation 652 646
Remeasurement of liability for future policy benefits 44 (3)
Change in market risk benefits (287) (1,123)
Equity (income) loss from limited partnerships (142) (94)
Changes in:    
Net broker-dealer and customer related receivables/payables (204) (505)
Reinsurance recoverable and related balances, net (806) (614)
Segregated cash and securities, net 75 321
Capitalization of deferred policy acquisition costs (857) (852)
Future policy benefits 4 359
Current and deferred income taxes (753) 176
Other, net 512 257
Net cash provided by (used in) operating activities 868 1,606
Proceeds from the sale/maturity/pre-payment of:    
Fixed maturities, available-for-sale 14,228 7,668
Fixed maturities, at fair value using the fair value option 560 630
Mortgage loans on real estate 1,328 1,010
Trading account securities 370 998
Short term investments 137 757
Other 471 488
Payment for the purchase/origination of:    
Fixed maturities, available-for-sale (20,108) (14,781)
Fixed maturities, at fair value using the fair value option (953) (663)
Mortgage loans on real estate (3,406) (2,124)
Trading account securities (757) (2,074)
Short term investments (106) (389)
Other (331) (66)
Cash settlements related to derivative instruments, net 485 (1,974)
Investment in capitalized software, leasehold improvements and EDP equipment (50) (127)
Other, net (353) 328
Net cash provided by (used in) investing activities (8,485) (10,319)
Policyholders’ account balances:    
Deposits 20,504 13,856
Withdrawals (8,179) (7,700)
Transfers (to) from Separate Accounts 1,425 1,280
Payments of market risk benefits (516) (545)
Repayment of short-term financings 0 (254)
Change in collateralized pledged assets 53 (61)
Change in collateralized pledged liabilities 3,482 4,703
Issuance of long-term debt 495 0
Repayment of long term debt (500) (565)
Proceeds from collateralized loan obligations 46 0
Repayment of collateralized loan obligations (52)
Proceeds from notes issued by consolidated VIEs 1,260 169
Repayment of notes issued by consolidated VIEs (842)
Dividends paid on common stock (237) (227)
Dividends paid on preferred stock (48) (54)
Redemption of preferred stock (439) 0
Purchase of AllianceBernstein Units (758) (12)
Purchase of AB Holding Units to fund long-term incentive compensation plan awards, net (48) (78)
Purchase of treasury shares (1,173) (754)
Purchases (redemptions) of noncontrolling interests of consolidated company-sponsored investment funds 147 399
Distribution to noncontrolling interest of consolidated subsidiaries (306) (278)
Change in securities lending (60) 11
Other, net (32) 2
Net cash provided by (used in) financing activities 14,222 9,892
Effect of exchange rate changes on cash and cash equivalents 35 8
Change in cash and cash equivalents 6,640 1,187
Cash and cash equivalents, beginning of period 6,964 8,239
Change in cash of businesses held-for-sale 0 153
Cash and cash equivalents, end of period 13,604 9,579
Non-cash transactions from investing and financing activities:    
Right-of-use assets obtained in exchange for lease obligations 67 231
Transfer of securities to reinsurer (8,777) 0
Transfer of policy loans to reinsurer $ (2,533) $ 0