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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Adjustments to reconcile net income to net cash provided by operating activities:    
Net Cash Provided by (Used in) Operating Activities $ 2,330 $ 2,579
Cash flows from investing activities:    
Sales of fixed maturity securities available-for-sale 7,235 3,835
Maturities of fixed maturity securities available-for-sale 545 406
Sales of equity securities 3 180
Principal payments and sales of mortgage loans on real estate 417 283
Cash invested in policy loans 12 15
Purchases of fixed maturity securities available-for-sale 9,885 4,875
Purchases of equity securities (1) (21)
Cash invested in mortgage loans on real estate (783) (604)
Principal payments on policy loans 8 6
Cash invested in funds withheld at interest 52 49
Proceeds from sale of businesses, net of cash transferred of $43 (19) 0
Purchases of property and equipment (10) (11)
Change in short-term investments 223 (19)
Change in other invested assets 112 (158)
Net cash provided by (used in) investing activities (2,173) (1,024)
Cash flows from financing activities:    
Dividends to stockholders (95) (87)
Proceeds from issuance of common stock, net 0 481
Repayment of collateral finance and securitization notes (65) (160)
Proceeds from long-term debt issuance 0 598
Debt issuance costs 0 (5)
Principal payments of long-term debt (401) (1)
Purchases of treasury stock (2) (162)
Exercise of stock options, net 0 1
Change in cash collateral for derivative positions and other arrangements 184 93
Deposits on universal life and other investment type policies and contracts 599 1,004
Withdrawals on universal life and other investment type policies and contracts (520) (429)
Net cash provided by (used in) financing activities (300) 1,333
Effect of exchange rate changes on cash (11) (24)
Cash and cash equivalents, beginning of period 3,408 1,449
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total (154) 2,864
Cash and cash equivalents, end of period $ 3,254 $ 4,313