XML 21 R10.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Adjustments to reconcile net income to net cash provided by operating activities:    
Net Cash Provided by (Used in) Operating Activities $ 3,821 $ 2,779
Cash flows from investing activities:    
Sales of fixed maturity securities available-for-sale 9,673 5,088
Maturities of fixed maturity securities available-for-sale 682 670
Sales of equity securities 26 181
Principal payments and sales of mortgage loans on real estate 728 378
Principal payments on policy loans 32 66
Purchases of fixed maturity securities available-for-sale 13,698 7,532
Purchases of equity securities (21) (22)
Cash invested in mortgage loans on real estate (980) (631)
Cash invested in policy loans 8 6
Cash invested in funds withheld at interest 60 71
Purchase of business, net of cash acquired of $53 (156) 0
Proceeds from sale of businesses, net of cash transferred of $43 19 0
Purchases of property and equipment (15) (17)
Change in short-term investments 379 (85)
Change in other invested assets (93) (233)
Net cash provided by (used in) investing activities (3,492) (2,214)
Cash flows from financing activities:    
Dividends to stockholders (145) (134)
Proceeds from issuance of common stock, net 0 481
Repayment of collateral finance and securitization notes (74) (188)
Proceeds from long-term debt issuance 0 598
Debt issuance costs 0 (5)
Principal payments of long-term debt (402) (2)
Purchases of treasury stock (48) (162)
Exercise of stock options, net 0 1
Change in cash collateral for derivative positions and other arrangements 29 28
Change in deposit asset on reinsurance 14 0
Deposits on investment-type policies and contracts 857 1,259
Withdrawals on investment-type policies and contracts (908) (642)
Net cash provided by (used in) financing activities (677) 1,234
Effect of exchange rate changes on cash (33) 8
Change in cash and cash equivalents (381) 1,807
Cash and cash equivalents, beginning of period 3,408 1,449
Cash and cash equivalents, end of period 3,027 3,256
Supplemental disclosures of cash flow information:    
Interest paid 121 117
Income taxes paid (received), net of refunds 313 58
Transfer of invested assets 1,798 0
Non-cash financing activities:    
Non-cash deposits on reinsurance 1,581 0
Assets acquired, excluding cash acquired (847) 0
Liabilities assumed (691) 0
Assets disposed, net of cash transferred 512 0
Liabilities disposed $ 504 $ 0