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Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions | 3 Months Ended
--- | ---
Mar. 31, 2024 | Mar. 31, 2023
Statement of Cash Flows [Abstract] |  |
Net cash provided by (used in) operating activities | $ (530) | $ (500)
Cash flows from investing activities |  |
Sales, maturities and repayments of fixed maturity securities | 2,277 | 1,474
Sales, maturities and repayments of equity securities | 24 | 2
Sales, maturities and repayments of mortgage loans | 281 | 262
Sales, maturities and repayments of limited partnerships and limited liability companies | 78 | 37
Purchases of fixed maturity securities | (2,438) | (1,840)
Purchases of equity securities | (1) | (5)
Purchases of mortgage loans | (448) | (173)
Purchases of limited partnerships and limited liability companies | (79) | (121)
Cash received in connection with freestanding derivatives | 3,564 | 1,106
Cash paid in connection with freestanding derivatives | (3,174) | (1,758)
Net change in policy loans | (320) | 9
Net change in short-term investments | (187) | (299)
Net change in other invested assets | (202) | (19)
Net cash provided by (used in) investing activities | (625) | (1,325)
Cash flows from financing activities |  |
Policyholder account balances: Deposits | 7,814 | 6,864
Policyholder account balances: Withdrawals | (6,447) | (5,298)
Net change in payables for collateral under securities loaned and other transactions | (17) | (159)
Dividends on preferred stock | (26) | (26)
Treasury stock acquired in connection with share repurchases | (62) | (62)
Financing element on certain derivative instruments and other derivative related transactions, net | (122) | 91
Other, net | (13) | (15)
Net cash provided by (used in) financing activities | 1,127 | 1,395
Change in cash, cash equivalents and restricted cash | (28) | (430)
Cash, cash equivalents and restricted cash, beginning of period | 3,851 | 4,115
Cash, cash equivalents and restricted cash, end of period | 3,823 | 3,685
Supplemental disclosures of cash flow information |  |
Net cash paid (received) for interest | 6 | 6
Net cash paid (received) for income tax | $ 4 | $ (9)

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