XML 46 R35.htm IDEA: XBRL DOCUMENT
v3.23.1

Nature of Operations, Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Nature of Operations, Basis of Presentation and Summary of Significant Accounting Policies [Abstract] |
Summary of Restated Consolidated Statements | LINCOLN NATIONAL CORPORATION CONSOLIDATED BALANCE SHEETS (in millions, except share data)
| As of December 31, 2021 |
| As |  |  |  |  |  |
| Previously |  | Restatement |  | As |
| Reported |  | Impacts |  | Restated |
ASSETS |  |  |  |  |  |  |  |  |
Investments: |  |  |  |  |  |  |  |  |
Fixed maturity available-for-sale securities, at fair value |  |  |  |  |  |  |  |  |
(amortized cost: 2021 - $105,142; allowance for credit losses: 2021 - $19) | $ | 118,746 |  | $ | (35 | ) | $ | 118,711 |
Trading securities |  | 4,482 |  |  | (22 | ) |  | 4,460 |
Equity securities |  | 318 |  |  | 57 |  |  | 375 |
Mortgage loans on real estate, net of allowance for credit losses |  |  |  |  |  |  |  |  |
(portion at fair value: 2021 - $739) |  | 17,991 |  |  | - |  |  | 17,991 |
Policy loans |  | 2,364 |  |  | - |  |  | 2,364 |
Derivative investments |  | 5,437 |  |  | 260 |  |  | 5,697 |
Other investments |  | 4,292 |  |  | (4 | ) |  | 4,288 |
Total investments |  | 153,630 |  |  | 256 |  |  | 153,886 |
Cash and invested cash |  | 2,612 |  |  | - |  |  | 2,612 |
Deferred acquisition costs and value of business acquired |  | 6,081 |  |  | 2 |  |  | 6,083 |
Accrued investment income |  | 1,189 |  |  | - |  |  | 1,189 |
Reinsurance recoverables, net of allowance for credit losses |  | 20,295 |  |  | - |  |  | 20,295 |
Goodwill |  | 1,778 |  |  | - |  |  | 1,778 |
Other assets |  | 19,133 |  |  | (614 | ) |  | 18,519 |
Separate account assets |  | 182,583 |  |  | - |  |  | 182,583 |
Total assets | $ | 387,301 |  | $ | (356 | ) | $ | 386,945 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |
Future contract benefits | $ | 41,030 |  | $ | - |  | $ | 41,030 |
Other contract holder funds |  | 111,702 |  |  | 8 |  |  | 111,710 |
Short-term debt |  | 300 |  |  | - |  |  | 300 |
Long-term debt |  | 6,325 |  |  | - |  |  | 6,325 |
Payables for collateral on investments |  | 8,946 |  |  | - |  |  | 8,946 |
Other liabilities |  | 16,143 |  |  | (846 | ) |  | 15,297 |
Separate account liabilities |  | 182,583 |  |  | - |  |  | 182,583 |
Total liabilities |  | 367,029 |  |  | (838 | ) |  | 366,191 |
Contingencies and Commitments (See Note 13) |  |  |  |  |  |  |  |  |
Stockholders’ Equity |  |  |  |  |  |  |  |  |
Preferred stock – 10,000,000 shares authorized |  | - |  |  | - |  |  | - |
Common stock – 800,000,000 shares authorized; |  |  |  |  |  |  |  |  |
177,193,515 shares issued and outstanding as of December 31, 2021 |  | 4,735 |  |  | - |  |  | 4,735 |
Retained earnings |  | 9,096 |  |  | 482 |  |  | 9,578 |
Accumulated other comprehensive income (loss) |  | 6,441 |  |  | - |  |  | 6,441 |
Total stockholders’ equity |  | 20,272 |  |  | 482 |  |  | 20,754 |
Total liabilities and stockholders’ equity | $ | 387,301 |  | $ | (356 | ) | $ | 386,945 |
LINCOLN NATIONAL CORPORATION CONSOLIDATED BALANCE SHEETS (in millions, except share data)
| As of December 31, 2022 |
| As |  |  |  |  |  |
| Previously |  | Restatement |  | As |
| Reported |  | Impacts |  | Restated |
ASSETS |  |  |  |  |  |  |  |  |
Investments: |  |  |  |  |  |  |  |  |
Fixed maturity available-for-sale securities, at fair value |  |  |  |  |  |  |  |  |
(amortized cost: 2022 - $111,707; allowance for credit losses: 2022 - $22) | $ | 99,736 |  | $ | - |  | $ | 99,736 |
Trading securities |  | 3,498 |  |  | - |  |  | 3,498 |
Equity securities |  | 427 |  |  | - |  |  | 427 |
Mortgage loans on real estate, net of allowance for credit losses |  |  |  |  |  |  |  |  |
(portion at fair value: 2022 - $487) |  | 18,301 |  |  | - |  |  | 18,301 |
Policy loans |  | 2,359 |  |  | - |  |  | 2,359 |
Derivative investments |  | 3,736 |  |  | (142 | ) |  | 3,594 |
Other investments |  | 3,739 |  |  | - |  |  | 3,739 |
Total investments |  | 131,796 |  |  | (142 | ) |  | 131,654 |
Cash and invested cash |  | 3,343 |  |  | - |  |  | 3,343 |
Deferred acquisition costs and value of business acquired |  | 13,588 |  |  | - |  |  | 13,588 |
Accrued investment income |  | 1,253 |  |  | - |  |  | 1,253 |
Reinsurance recoverables, net of allowance for credit losses |  | 19,882 |  |  | - |  |  | 19,882 |
Goodwill |  | 1,144 |  |  | - |  |  | 1,144 |
Other assets |  | 20,895 |  |  | (187 | ) |  | 20,708 |
Separate account assets |  | 143,536 |  |  | - |  |  | 143,536 |
Total assets | $ | 335,437 |  | $ | (329 | ) | $ | 335,108 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Liabilities |  |  |  |  |  |  |  |  |
Future contract benefits | $ | 42,151 |  | $ | - |  | $ | 42,151 |
Other contract holder funds |  | 120,800 |  |  | - |  |  | 120,800 |
Short-term debt |  | 500 |  |  | - |  |  | 500 |
Long-term debt |  | 5,955 |  |  | - |  |  | 5,955 |
Payables for collateral on investments |  | 6,712 |  |  | - |  |  | 6,712 |
Other liabilities |  | 11,682 |  |  | (797 | ) |  | 10,885 |
Separate account liabilities |  | 143,536 |  |  | - |  |  | 143,536 |
Total liabilities |  | 331,336 |  |  | (797 | ) |  | 330,539 |
Contingencies and Commitments (See Note 13) |  |  |  |  |  |  |  |  |
Stockholders’ Equity |  |  |  |  |  |  |  |  |
Preferred stock – 10,000,000 shares authorized: |  |  |  |  |  |  |  |  |
Series C preferred stock – 20,000 shares authorized, issued and |  |  |  |  |  |  |  |  |
outstanding as of December 31, 2022 |  | 493 |  |  | - |  |  | 493 |
Series D preferred stock – 20,000 shares authorized, issued and |  |  |  |  |  |  |  |  |
outstanding as of December 31, 2022 |  | 493 |  |  | - |  |  | 493 |
Common stock – 800,000,000 shares authorized; |  |  |  |  |  |  |  |  |
169,220,511 shares issued and outstanding as of December 31, 2022 |  | 4,544 |  |  | - |  |  | 4,544 |
Retained earnings |  | 6,239 |  |  | 468 |  |  | 6,707 |
Accumulated other comprehensive income (loss) |  | (7,668 | ) |  | - |  |  | (7,668 | )
Total stockholders’ equity |  | 4,101 |  |  | 468 |  |  | 4,569 |
Total liabilities and stockholders’ equity | $ | 335,437 |  | $ | (329 | ) | $ | 335,108 |
LINCOLN NATIONAL CORPORATION CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (in millions, except per share data)
| For the Year Ended |
| December 31, 2021 |
| As |  |  |  |  |  |
| Previously |  | Restatement |  | As |
| Reported |  | Impacts |  | Restated |
Revenues |  |  |  |  |  |  |  |  |
Insurance premiums | $ | 5,617 |  | $ | - |  | $ | 5,617 |
Fee income |  | 6,887 |  |  | 18 |  |  | 6,905 |
Net investment income |  | 6,115 |  |  | (4 | ) |  | 6,111 |
Realized gain (loss) |  | (212 | ) |  | 626 |  |  | 414 |
Amortization of deferred gain on business sold through reinsurance |  | 46 |  |  | (8 | ) |  | 38 |
Other revenues |  | 777 |  |  | - |  |  | 777 |
Total revenues |  | 19,230 |  |  | 632 |  |  | 19,862 |
Expenses |  |  |  |  |  |  |  |  |
Interest credited |  | 2,915 |  |  | 18 |  |  | 2,933 |
Benefits |  | 8,529 |  |  | - |  |  | 8,529 |
Commissions and other expenses |  | 5,791 |  |  | 3 |  |  | 5,794 |
Interest and debt expense |  | 270 |  |  | - |  |  | 270 |
Spark program expense |  | 87 |  |  | - |  |  | 87 |
Total expenses |  | 17,592 |  |  | 21 |  |  | 17,613 |
Income (loss) before taxes |  | 1,638 |  |  | 611 |  |  | 2,249 |
Federal income tax expense (benefit) |  | 233 |  |  | 129 |  |  | 362 |
Net income (loss) |  | 1,405 |  |  | 482 |  |  | 1,887 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |
Unrealized investment gains (losses) |  | (2,535 | ) |  | - |  |  | (2,535 | )
Foreign currency translation adjustment |  | (2 | ) |  | - |  |  | (2 | )
Funded status of employee benefit plans |  | 47 |  |  | - |  |  | 47 |
Total other comprehensive income (loss), net of tax |  | (2,490 | ) |  | - |  |  | (2,490 | )
Comprehensive income (loss) | $ | (1,085 | ) | $ | 482 |  | $ | (603 | )
Net Income (Loss) Per Common Share |  |  |  |  |  |  |  |  |
Basic | $ | 7.50 |  | $ | 2.57 |  | $ | 10.07 |
Diluted | $ | 7.43 |  | $ | 2.55 |  | $ | 9.98 |
Cash Dividends Declared Per Common Share | $ | 1.71 |  | $ | - |  | $ | 1.71 |
LINCOLN NATIONAL CORPORATION CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (in millions, except per share data)
| For the Year Ended |
| December 31, 2022 |
| As |  |  |  |  |  |
| Previously |  | Restatement |  | As |
| Reported |  | Impacts |  | Restated |
Revenues |  |  |  |  |  |  |  |  |
Insurance premiums | $ | 6,087 |  | $ | - |  | $ | 6,087 |
Fee income |  | 6,054 |  |  | - |  |  | 6,054 |
Net investment income |  | 5,511 |  |  | 4 |  |  | 5,515 |
Realized gain (loss) |  | 336 |  |  | 9 |  |  | 345 |
Amortization of deferred gain on business sold through reinsurance |  | 74 |  |  | (32 | ) |  | 42 |
Other revenues |  | 722 |  |  | 1 |  |  | 723 |
Total revenues |  | 18,784 |  |  | (18 | ) |  | 18,766 |
Expenses |  |  |  |  |  |  |  |  |
Interest credited |  | 2,870 |  |  | - |  |  | 2,870 |
Benefits |  | 12,546 |  |  | - |  |  | 12,546 |
Commissions and other expenses |  | 5,095 |  |  | 1 |  |  | 5,096 |
Interest and debt expense |  | 283 |  |  | - |  |  | 283 |
Spark program expense |  | 167 |  |  | - |  |  | 167 |
Impairment of intangibles |  | 634 |  |  | - |  |  | 634 |
Total expenses |  | 21,595 |  |  | 1 |  |  | 21,596 |
Income (loss) before taxes |  | (2,811 | ) |  | (19 | ) |  | (2,830 | )
Federal income tax expense (benefit) |  | (584 | ) |  | (5 | ) |  | (589 | )
Net income (loss) |  | (2,227 | ) |  | (14 | ) |  | (2,241 | )
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |
Unrealized investment gains (losses) |  | (14,030 | ) |  | - |  |  | (14,030 | )
Foreign currency translation adjustment |  | (20 | ) |  | - |  |  | (20 | )
Funded status of employee benefit plans |  | (59 | ) |  | - |  |  | (59 | )
Total other comprehensive income (loss), net of tax |  | (14,109 | ) |  | - |  |  | (14,109 | )
Comprehensive income (loss) | $ | (16,336 | ) | $ | (14 | ) | $ | (16,350 | )
Net Income (Loss) Per Common Share |  |  |  |  |  |  |  |  |
Basic | $ | (13.02 | ) | $ | (0.09 | ) | $ | (13.11 | )
Diluted | $ | (13.10 | ) | $ | (0.09 | ) | $ | (13.19 | )
Cash Dividends Declared Per Common Share | $ | 1.80 |  | $ | - |  | $ | 1.80 |
LINCOLN NATIONAL CORPORATION CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (in millions)
| For the Year Ended |
| December 31, 2021 |
| As |  |  |  |  |  |
| Previously |  | Restatement |  | As |
| Reported |  | Impacts |  | Restated |
Common Stock |  |  |  |  |  |  |  |  |
Balance as of beginning-of-year | $ | 5,082 |  | $ | - |  | $ | 5,082 |
Stock compensation/issued for benefit plans |  | 85 |  |  | - |  |  | 85 |
Retirement of common stock/cancellation of shares |  | (432 | ) |  | - |  |  | (432 | )
Balance as of end-of-year |  | 4,735 |  |  | - |  |  | 4,735 |
Retained Earnings |  |  |  |  |  |  |  |  |
Balance as of beginning-of-year |  | 8,686 |  |  | - |  |  | 8,686 |
Net income (loss) |  | 1,405 |  |  | 482 |  |  | 1,887 |
Retirement of common stock |  | (673 | ) |  | - |  |  | (673 | )
Common stock dividends declared |  | (322 | ) |  | - |  |  | (322 | )
Balance as of end-of-year |  | 9,096 |  |  | 482 |  |  | 9,578 |
Accumulated Other Comprehensive Income (Loss) |  |  |  |  |  |  |  |  |
Balance as of beginning-of-year |  | 8,931 |  |  | - |  |  | 8,931 |
Other comprehensive income (loss), net of tax |  | (2,490 | ) |  | - |  |  | (2,490 | )
Balance as of end-of-year |  | 6,441 |  |  | - |  |  | 6,441 |
Total stockholders’ equity as of end-of-year | $ | 20,272 |  | $ | 482 |  | $ | 20,754 |
| For the Year Ended |
| December 31, 2022 |
| As |  |  |  |  |  |
| Previously |  | Restatement |  | As |
| Reported |  | Impacts |  | Restated |
Preferred Stock |  |  |  |  |  |  |  |  |
Balance as of beginning-of-year | $ | - |  | $ | - |  | $ | - |
Issuance of Series C preferred stock |  | 493 |  |  | - |  |  | 493 |
Issuance of Series D preferred stock |  | 493 |  |  | - |  |  | 493 |
Balance as of end-of-year |  | 986 |  |  | - |  |  | 986 |
Common Stock |  |  |  |  |  |  |  |  |
Balance as of beginning-of-year |  | 4,735 |  |  | - |  |  | 4,735 |
Stock compensation/issued for benefit plans |  | 40 |  |  | - |  |  | 40 |
Retirement of common stock/cancellation of shares |  | (231 | ) |  | - |  |  | (231 | )
Balance as of end-of-year |  | 4,544 |  |  | - |  |  | 4,544 |
Retained Earnings |  |  |  |  |  |  |  |  |
Balance as of beginning-of-year |  | 9,096 |  |  | 482 |  |  | 9,578 |
Net income (loss) |  | (2,227 | ) |  | (14 | ) |  | (2,241 | )
Retirement of common stock |  | (319 | ) |  | - |  |  | (319 | )
Common stock dividends declared |  | (311 | ) |  | - |  |  | (311 | )
Balance as of end-of-year |  | 6,239 |  |  | 468 |  |  | 6,707 |
Accumulated Other Comprehensive Income (Loss) |  |  |  |  |  |  |  |  |
Balance as of beginning-of-year |  | 6,441 |  |  | - |  |  | 6,441 |
Other comprehensive income (loss), net of tax |  | (14,109 | ) |  | - |  |  | (14,109 | )
Balance as of end-of-year |  | (7,668 | ) |  | - |  |  | (7,668 | )
Total stockholders’ equity as of end-of-year | $ | 4,101 |  | $ | 468 |  | $ | 4,569 |
LINCOLN NATIONAL CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions)
| For the Year Ended |
| December 31, 2021 |
| As |  |  |  |  |  |
| Previously |  | Restatement |  | As |
| Reported |  | Impacts |  | Restated |
Cash Flows from Operating Activities |  |  |  |  |  |  |  |  |
Net income (loss) | $ | 1,405 |  | $ | 482 |  | $ | 1,887 |
Adjustments to reconcile net income (loss) to net cash provided by |  |  |  |  |  |  |  |  |
(used in) operating activities: |  |  |  |  |  |  |  |  |
Realized (gain) loss |  | 212 |  |  | (626 | ) |  | (414 | )
Sales and maturities (purchases) of trading securities, net |  | (108 | ) |  | 21 |  |  | (87 | )
Amortization of deferred gain on business sold through reinsurance |  | (46 | ) |  | 8 |  |  | (38 | )
Change in: |  |  |  |  |  |  |  |  |
Deferred acquisition costs, value of business acquired, deferred sales |  |  |  |  |  |  |  |  |
inducements and deferred front-end loads deferrals and interest, net |  |  |  |  |  |  |  |  |
of amortization |  | 315 |  |  | (3 | ) |  | 312 |
Premiums and fees receivable |  | (93 | ) |  | - |  |  | (93 | )
Accrued investment income |  | 16 |  |  | - |  |  | 16 |
Insurance liabilities and reinsurance-related balances |  | (1,954 | ) |  | (1 | ) |  | (1,955 | )
Accrued expenses |  | 389 |  |  | 3 |  |  | 392 |
Federal income tax accruals |  | 232 |  |  | 129 |  |  | 361 |
Other |  | (217 | ) |  | 4 |  |  | (213 | )
Net cash provided by (used in) operating activities |  | 151 |  |  | 17 |  |  | 168 |
Cash Flows from Investing Activities |  |  |  |  |  |  |  |  |
Purchases of available-for-sale securities and equity securities |  | (16,893 | ) |  | (22 | ) |  | (16,915 | )
Sales of available-for-sale securities and equity securities |  | 2,268 |  |  | - |  |  | 2,268 |
Maturities of available-for-sale securities |  | 9,621 |  |  | - |  |  | 9,621 |
Purchases of alternative investments |  | (757 | ) |  | - |  |  | (757 | )
Sales and repayments of alternative investments |  | 377 |  |  | - |  |  | 377 |
Issuance of mortgage loans on real estate |  | (3,084 | ) |  | 5 |  |  | (3,079 | )
Repayment and maturities of mortgage loans on real estate |  | 1,881 |  |  | - |  |  | 1,881 |
Repayment (issuance) of policy loans, net |  | 62 |  |  | - |  |  | 62 |
Net change in collateral on investments, derivatives and related settlements |  | 3,261 |  |  | - |  |  | 3,261 |
Other |  | (303 | ) |  | - |  |  | (303 | )
Net cash provided by (used in) investing activities |  | (3,567 | ) |  | (17 | ) |  | (3,584 | )
Cash Flows from Financing Activities |  |  |  |  |  |  |  |  |
Payment related to modification or early extinguishment of debt |  | (8 | ) |  | - |  |  | (8 | )
Payment related to sale-leaseback transactions |  | (59 | ) |  | - |  |  | (59 | )
Proceeds from certain financing arrangements |  | 159 |  |  | - |  |  | 159 |
Deposits of fixed account values, including the fixed portion of variable |  | 12,639 |  |  | 4 |  |  | 12,643 |
Withdrawals of fixed account values, including the fixed portion of variable |  | (6,607 | ) |  | 53 |  |  | (6,554 | )
Transfers from (to) separate accounts, net |  | (340 | ) |  | (57 | ) |  | (397 | )
Common stock issued for benefit plans |  | 20 |  |  | - |  |  | 20 |
Repurchase of common stock |  | (1,105 | ) |  | - |  |  | (1,105 | )
Dividends paid to common stockholders |  | (319 | ) |  | - |  |  | (319 | )
Other |  | (60 | ) |  | - |  |  | (60 | )
Net cash provided by (used in) financing activities |  | 4,320 |  |  | - |  |  | 4,320 |
Net increase (decrease) in cash, invested cash and restricted cash |  | 904 |  |  | - |  |  | 904 |
Cash, invested cash and restricted cash as of beginning-of-year |  | 1,708 |  |  | - |  |  | 1,708 |
Cash, invested cash and restricted cash as of end-of-year | $ | 2,612 |  | $ | - |  | $ | 2,612 |
LINCOLN NATIONAL CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions)
| For the Year Ended |
| December 31, 2022 |
| As |  |  |  |  |  |
| Previously |  | Restatement |  | As |
| Reported |  | Impacts |  | Restated |
Cash Flows from Operating Activities |  |  |  |  |  |  |  |  |
Net income (loss) | $ | (2,227 | ) | $ | (14 | ) | $ | (2,241 | )
Adjustments to reconcile net income (loss) to net cash provided by |  |  |  |  |  |  |  |  |
(used in) operating activities: |  |  |  |  |  |  |  |  |
Realized (gain) loss |  | (336 | ) |  | (9 | ) |  | (345 | )
Sales and maturities (purchases) of trading securities, net |  | 300 |  |  | - |  |  | 300 |
Amortization of deferred gain on business sold through reinsurance |  | (74 | ) |  | 32 |  |  | (42 | )
Impairment of intangibles |  | 634 |  |  | - |  |  | 634 |
Change in: |  |  |  |  |  |  |  |  |
Deferred acquisition costs, value of business acquired, deferred sales |  |  |  |  |  |  |  |  |
inducements and deferred front-end loads deferrals and interest, net |  |  |  |  |  |  |  |  |
of amortization |  | 115 |  |  | 3 |  |  | 118 |
Premiums and fees receivable |  | (54 | ) |  | - |  |  | (54 | )
Accrued investment income |  | (67 | ) |  | - |  |  | (67 | )
Insurance liabilities and reinsurance-related balances |  | 5,956 |  |  | 2 |  |  | 5,958 |
Accrued expenses |  | (89 | ) |  | - |  |  | (89 | )
Federal income tax accruals |  | (530 | ) |  | (5 | ) |  | (535 | )
Other |  | 405 |  |  | (6 | ) |  | 399 |
Net cash provided by (used in) operating activities |  | 4,033 |  |  | 3 |  |  | 4,036 |
Cash Flows from Investing Activities |  |  |  |  |  |  |  |  |
Purchases of available-for-sale securities and equity securities |  | (14,813 | ) |  | - |  |  | (14,813 | )
Sales of available-for-sale securities and equity securities |  | 2,297 |  |  | - |  |  | 2,297 |
Maturities of available-for-sale securities |  | 5,453 |  |  | - |  |  | 5,453 |
Purchases of alternative investments |  | (664 | ) |  | - |  |  | (664 | )
Sales and repayments of alternative investments |  | 446 |  |  | - |  |  | 446 |
Issuance of mortgage loans on real estate |  | (2,503 | ) |  | (4 | ) |  | (2,507 | )
Repayment and maturities of mortgage loans on real estate |  | 2,255 |  |  | - |  |  | 2,255 |
Repayment (issuance) of policy loans, net |  | 5 |  |  | - |  |  | 5 |
Net change in collateral on investments, derivatives and related settlements |  | (4,071 | ) |  | 1 |  |  | (4,070 | )
Other |  | (48 | ) |  | - |  |  | (48 | )
Net cash provided by (used in) investing activities |  | (11,643 | ) |  | (3 | ) |  | (11,646 | )
Cash Flows from Financing Activities |  |  |  |  |  |  |  |  |
Payment of long-term debt, including current maturities |  | (300 | ) |  | - |  |  | (300 | )
Issuance of long-term debt, net of issuance costs |  | 296 |  |  | - |  |  | 296 |
Payment related to sale-leaseback transactions |  | (70 | ) |  | - |  |  | (70 | )
Proceeds from certain financing arrangements |  | 186 |  |  | - |  |  | 186 |
Deposits of fixed account values, including the fixed portion of variable |  | 15,229 |  |  | - |  |  | 15,229 |
Withdrawals of fixed account values, including the fixed portion of variable |  | (6,913 | ) |  | - |  |  | (6,913 | )
Transfers from (to) separate accounts, net |  | (195 | ) |  | - |  |  | (195 | )
Common stock issued for benefit plans |  | (16 | ) |  | - |  |  | (16 | )
Issuance of preferred stock, net of issuance costs |  | 986 |  |  | - |  |  | 986 |
Repurchase of common stock |  | (550 | ) |  | - |  |  | (550 | )
Dividends paid to common stockholders |  | (310 | ) |  | - |  |  | (310 | )
Other |  | (2 | ) |  | - |  |  | (2 | )
Net cash provided by (used in) financing activities |  | 8,341 |  |  | - |  |  | 8,341 |
Net increase (decrease) in cash, invested cash and restricted cash |  | 731 |  |  | - |  |  | 731 |
Cash, invested cash and restricted cash as of beginning-of-year |  | 2,612 |  |  | - |  |  | 2,612 |
Cash, invested cash and restricted cash as of end-of-year | $ | 3,343 |  | $ | - |  | $ | 3,343 |

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794 + Details
Name: | us-gaap_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration