| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net income | ||||||
2,185 | 1,053 | 1,358 | 773 | 578 | 471 | |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Amortization of deferred acquisition costs and value of business acquired | ||||||
958 | 174 | 344 | - | - | - | |
Amortization of deferred sales inducements | ||||||
74 | 54 | 63 | 36 | - | - | |
Policy acquisition costs deferred | ||||||
645 | 2,481 | 493 | 601 | 288 | 250 | |
Deferred income tax expense (benefit) | ||||||
- | - | - | - | - | 137 | |
Changes in operating assets and liabilities: | ||||||
Net cash provided by operating activities | ||||||
2,656 | 2,874 | 3,170 | 1,199 | 1,049 | 599 | |
Cash flows from investing activities | ||||||
Sales, maturities and repayments of: | ||||||
Purchases of: | ||||||
Cash Divested from Deconsolidation | ||||||
0 | 296 | 0 | 0 | - | - | |
Net cash used in investing activities | ||||||
-9,956 | -8,173 | -5,769 | -2,661 | -52 | 1,332 | |
Cash flows from financing activities | ||||||
Proceeds from short-term debt | ||||||
475 | 183 | 0 | 0 | - | - | |
Proceeds from long-term debt | ||||||
0 | 998 | 0 | 0 | - | - | |
Proceeds from Noncontrolling Interests | ||||||
575 | 0 | 0 | - | - | - | |
Net cash provided by financing activities | ||||||
8,537 | 3,707 | 5,048 | 1,155 | -944 | -2,295 | |
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | ||||||
0 | 0 | 32 | -13 | -4 | 0 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | ||||||
1,237 | -1,592 | 2,481 | -320 | 49 | -364 | |
Supplementary information | ||||||
Cash paid (refunded) for taxes | ||||||
36 | 52 | -64 | -31 | 34 | 59 | |
Cash paid for interest | ||||||
49 | 26 | 0 | 9 | 22 | 56 | |
Non-cash transactions | ||||||
Deposits on investment-type policies and contracts through reinsurance agreements | ||||||
782 | 26,532 | 663 | 3,441 | 1,182 | 418 | |
Withdrawals on investment-type policies and contracts through reinsurance agreements | ||||||
3,393 | 1,843 | 482 | 448 | 373 | 219 | |
Investments received from settlements on reinsurance agreements | ||||||
- | - | - | - | - | 6 | |
Investment Funds Acquired | ||||||
- | - | - | - | 473 | 0 | |
Issuance of capital for payment of liabilities | ||||||
- | - | - | - | - | 199 | |
Reinsurance, Reduction in Invested Assets and Liabilities | ||||||
- | - | - | - | 920 | 0 | |
Consolidated Entity Excluding Variable Interest Entities (VIE) | ||||||
Amortization of deferred acquisition costs and value of business acquired | ||||||
958 | 174 | 344 | 304 | - | - | |
Amortization of deferred sales inducements | ||||||
74 | 54 | 63 | 39 | - | - | |
Net accretion of net investment premiums, discounts and other | ||||||
94 | 178 | 192 | 172 | - | - | |
Reinsurance Agreement Payments | ||||||
- | - | 0 | 0 | - | - | |
Stock-based compensation | ||||||
- | - | - | 84 | - | - | |
Net investment (income) loss (related party: 2019 – $(171), 2018 – $(103) and 2017 – $(63)) | ||||||
167 | 84 | 53 | 25 | - | - | |
Net recognized (gains) losses on investments and derivatives | ||||||
2,479 | -1,095 | 2,180 | 342 | - | - | |
Deferred Policy Acquisition Cost, Capitalization | ||||||
645 | 919 | 493 | 601 | - | - | |
Accrued investment income (related party: 2019 – $(2), 2018 – $(15) and 2017 – $0) | ||||||
128 | 66 | 91 | 34 | - | - | |
Interest sensitive contract liabilities (related party: 2019 – $471, 2018 – $30 and 2017 – $0) | ||||||
4,003 | -365 | 2,564 | 956 | - | - | |
Future policy benefits, other policy claims and benefits, dividends payable to policyholders and reinsurance recoverable (related party: 2019 – $295, 2018 – $109 and 2017 – $0) | ||||||
1,171 | 2,457 | 2,019 | 331 | - | - | |
Funds withheld assets and liabilities (related party: 2019 – $(1,317), 2018 – $113 and 2017 – $0) | ||||||
2,582 | -270 | 419 | 128 | - | - | |
Other assets and liabilities | ||||||
-367 | 240 | -283 | 42 | - | - | |
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale | ||||||
12,762 | 12,121 | - | - | - | - | |
Trading securities (related party: 2019 – $40, 2018 – $30 and 2017 – $55) | ||||||
272 | 348 | 156 | 356 | - | - | |
Mortgage loans (related party: 2019 – $4, 2018 – $13 and 2017 – $0) | ||||||
2,070 | 1,373 | 1,669 | 1,176 | - | - | |
Investment funds (related party: 2019 – $291, 2018 – $305 and 2017 – $349) | ||||||
416 | 481 | 496 | 420 | - | - | |
Derivative instruments and other invested assets (related party: 2019 – $0, 2018 – $2 and 2017 – $0) | ||||||
1,503 | 1,859 | 1,503 | 468 | - | - | |
Real estate | ||||||
0 | 0 | 4 | 36 | - | - | |
Proceeds from Sale, Maturity and Collection of Short-term Investments | ||||||
398 | 538 | 351 | 870 | - | - | |
Payments to Acquire Debt Securities, Available-for-sale | ||||||
17,237 | 15,435 | 18,883 | 11,797 | - | - | |
Trading securities (related party: 2019 – $(6), 2018 – $(4) and 2017 – $0) | ||||||
495 | 54 | 89 | 473 | - | - | |
Payments to Acquire Marketable Securities | ||||||
- | - | 847 | 714 | - | - | |
Mortgage loans (related party: 2019 – $(366), 2018 – $(389) and 2017 – $0) | ||||||
6,391 | 5,745 | 2,428 | 1,157 | - | - | |
Investment funds (related party: 2019 – $(746), 2018 – $(1,140) and 2017 – $(509)) | ||||||
902 | 1,375 | 660 | 535 | - | - | |
Derivative instruments and other invested assets (related party: 2019 – $(100), 2018 – $(150) and 2017 – $0) | ||||||
1,299 | 1,348 | 738 | 686 | - | - | |
Real estate | ||||||
0 | 0 | 76 | 39 | - | - | |
Payments to Acquire Short-term Investments | ||||||
802 | 478 | 421 | 873 | - | - | |
Cash settlement of derivatives | ||||||
- | - | - | -34 | - | - | |
Other investing activities, net | ||||||
45 | 94 | -503 | 185 | - | - | |
Capital contributions | ||||||
- | - | - | 1 | - | - | |
Repayment of short-term debt | ||||||
0 | 183 | 0 | 0 | - | - | |
Deposits on investment-type policies and contracts (related party: 2019 – $146, 2018 – $151 and 2017 – $0) | ||||||
11,569 | 10,262 | 9,056 | 5,791 | - | - | |
Withdrawals on investment-type policies and contracts (related party: 2019 – $(455), 2018 – $(252) and 2017 – $0) | ||||||
6,548 | 6,205 | 4,843 | 4,617 | - | - | |
Payments for coinsurance agreements on investment-type contracts, net | ||||||
44 | 2 | 33 | 89 | - | - | |
Net change in cash collateral posted for derivative transactions and securities to repurchase | ||||||
-2,286 | 1,354 | -940 | -516 | - | - | |
Proceeds from Issuance of Preferred Stock and Preference Stock | ||||||
1,172 | 0 | 0 | - | - | - | |
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | ||||||
36 | 0 | 0 | - | - | - | |
Repurchase of common stock | ||||||
832 | 105 | 10 | 20 | - | - | |
Other financing activities, net | ||||||
-80 | 113 | -62 | 73 | - | - | |
Ceding commission on reinsurance agreements settled in investments | ||||||
0 | 394 | - | - | - | - | |
Reinsurance agreement | ||||||
Reinsurance Agreement Payments | ||||||
0 | 660 | - | - | - | - | |
Ceding commission on reinsurance agreements settled in investments | ||||||
0 | 266 | 0 | 0 | - | - | |
Variable Interest Entities | ||||||
Net recognized (gains) losses on investments and derivatives | ||||||
5 | -17 | 36 | -25 | - | - | |
Other Noncash Income (Expense) | ||||||
2 | 0 | -3 | -31 | - | - | |
Sales, maturities and repayments of investments (related party: 2019 – $90, 2018 – $203 and 2017 – $85) | ||||||
101 | 217 | 95 | 504 | - | - | |
Purchases of investments (related party: 2019 – $(92), 2018 – $(31) and 2017 – $(23)) | ||||||
110 | 83 | 23 | 19 | - | - | |
Repayment on borrowings | ||||||
- | - | - | 500 | - | - | |
Related Party | ||||||
Transfer to Investments | ||||||
0 | 115 | 0 | 0 | - | - | |
Transfer from Investments | ||||||
0 | 95 | 26 | 0 | - | - | |
Reinsurance Settlements [Member] | ||||||
Transfer to Investments | ||||||
56 | 52 | 73 | 47 | - | - | |
Pension Risk Transfer Premiums [Member] | ||||||
Transfer to Investments | ||||||
5,235 | 435 | 334 | 0 | - | - | |