| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
Net income (loss) | ||||||
-1,436 | 2,154 | 1,257 | 1,649 | 650 | ||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
Interest credited to policyholders’ account balances | ||||||
1,241 | 1,090 | 995 | 967 | 934 | ||
Policy charges and fee income | ||||||
3,738 | 3,824 | 3,693 | 3,729 | 3,628 | ||
Net derivative (gains) losses | ||||||
-4,000 | -231 | 214 | -1,848 | -1,404 | ||
Investment (gains) losses, net | ||||||
206 | -86 | -191 | 1,983 | -15 | ||
Loss on businesses held for sale | ||||||
-133 | 0 | 0 | - | - | ||
Realized and unrealized (gains) losses on trading securities | ||||||
502 | -237 | 266 | -63 | -128 | ||
Non-cash long term incentive compensation expense | ||||||
278 | 228 | 247 | 213 | 176 | ||
Non-cash pension plan restructuring | ||||||
0 | 109 | 0 | 0 | - | ||
Amortization and depreciation | ||||||
-657 | -257 | -399 | -758 | 9 | ||
Change in goodwill | ||||||
0 | 0 | 369 | 0 | - | ||
Equity (income) loss from limited partnerships | ||||||
92 | 119 | 155 | 59 | - | ||
Changes in: | ||||||
Distributions from joint ventures and limited partnerships | ||||||
- | - | - | - | 199 | ||
Net broker-dealer and customer related receivables/payables | ||||||
403 | -838 | 278 | -608 | 39 | ||
Reinsurance recoverable | ||||||
146 | 191 | -124 | -24 | - | ||
Segregated cash and securities, net | ||||||
-75 | 345 | -130 | 381 | 89 | ||
Capitalization of deferred policy acquisition costs | ||||||
754 | 702 | 687 | 697 | 292 | ||
Future policy benefits | ||||||
947 | -399 | 1,097 | 272 | 668 | ||
Current and deferred income taxes | ||||||
-108 | 633 | -10 | -217 | -168 | ||
Other, net | ||||||
162 | 222 | -251 | -428 | 159 | ||
Net cash provided by (used in) operating activities | ||||||
-216 | 61 | -243 | -236 | -192 | ||
Cash flows from investing activities: | ||||||
Proceeds from the sale/maturity/prepayment of: | ||||||
Fixed maturities, available for sale | ||||||
13,327 | 10,631 | 11,339 | 8,606 | 5,349 | ||
Mortgage loans on real estate | ||||||
952 | 768 | 934 | 676 | 609 | ||
Trading account securities | ||||||
10,717 | 9,340 | 11,231 | 7,841 | 19,864 | ||
Real estate held for the production of income | ||||||
- | - | - | 1,828 | - | ||
Real estate joint ventures | ||||||
5 | 139 | 0 | 136 | - | ||
Short term investments | ||||||
2,643 | 6,267 | 4,556 | 3,605 | - | ||
Other | ||||||
306 | 330 | 228 | 64 | 181 | ||
Payment for the purchase/origination of: | ||||||
Fixed maturities, available-for-sale | ||||||
29,610 | 12,794 | 15,166 | 10,688 | 5,179 | ||
Mortgage loans on real estate | ||||||
1,240 | 1,642 | 2,108 | 3,278 | 1,311 | ||
Trading account securities | ||||||
1,123 | 11,401 | 13,328 | 10,283 | 21,053 | ||
Real estate | ||||||
- | - | - | 1 | 20 | ||
Real estate joint ventures | ||||||
- | - | - | 51 | - | ||
Short term investments | ||||||
2,776 | 5,058 | 4,897 | 4,090 | - | ||
Other | ||||||
430 | 233 | 296 | 192 | 148 | ||
Cash settlements related to derivative instruments | ||||||
954 | -583 | 2,166 | 195 | -602 | ||
Purchase of business, net of cash acquired | ||||||
0 | 0 | 130 | 21 | - | ||
Repayments of loans to affiliates | ||||||
0 | 1,230 | 15 | 0 | 90 | ||
Issuance of loans to affiliates | ||||||
- | - | - | -12 | 275 | ||
Change in short-term investments | ||||||
- | - | - | - | 961 | ||
Investment in capitalized software, leasehold improvements and EDP equipment | ||||||
93 | 123 | 102 | 97 | 83 | ||
Other, net | ||||||
220 | 86 | -201 | -384 | -194 | ||
Net cash provided by (used in) investing activities | ||||||
-8,496 | -2,049 | -9,689 | -5,768 | -2,141 | ||
Change in short-term investments | ||||||
- | - | - | - | 961 | ||
Cash flows from financing activities: | ||||||
Deposits | ||||||
12,843 | 9,994 | 9,916 | 10,001 | 5,255 | ||
Withdrawals | ||||||
4,619 | 4,600 | 4,010 | 2,976 | 2,934 | ||
Transfers (to) from Separate Accounts | ||||||
1,769 | 1,724 | 1,486 | 1,432 | 2,001 | ||
Proceeds from loans from affiliates | ||||||
0 | 0 | 731 | 0 | 694 | ||
Change in short-term financings | ||||||
-546 | -1,310 | 600 | -176 | 30 | ||
Change in collateralized pledged assets | ||||||
-71 | 31 | 1,044 | -991 | -45 | ||
Change in collateralized pledged liabilities | ||||||
-1,361 | 576 | -1,246 | -15 | 515 | ||
(Decrease) increase in overdrafts payable | ||||||
-60 | 3 | 63 | -85 | 80 | ||
Shareholder dividends paid | ||||||
285 | 157 | 0 | 0 | - | ||
Repayment of loans from affiliates | ||||||
0 | 3,000 | 56 | 1,752 | 1,454 | ||
Issuance of long-term debt | ||||||
0 | 4,057 | 0 | 0 | - | ||
Repayment of long-term debt | ||||||
300 | 0 | 0 | - | - | ||
Issuance of preferred stock | ||||||
775 | 0 | 0 | - | - | ||
Purchase of AllianceBernstein Units | ||||||
0 | 1,340 | 0 | 0 | - | ||
Purchases of AB Holding Units to fund long-term incentive compensation plan awards | ||||||
172 | 267 | 220 | 236 | - | ||
Purchase of treasury shares | ||||||
1,350 | 648 | 0 | 0 | - | ||
Repurchase of AB Holding units from noncontrolling interest | ||||||
- | - | - | - | 214 | ||
Purchases (redemptions) of noncontrolling interests of consolidated company-sponsored investment funds | ||||||
-169 | 472 | -120 | 137 | - | ||
Distribution to noncontrolling interest of consolidated subsidiaries | ||||||
256 | 346 | 348 | 294 | 337 | ||
Increase (decrease) in securities sold under agreement to repurchase | ||||||
-573 | -1,314 | -1,706 | 227 | -79 | ||
Repayments of long-term debt | ||||||
- | - | - | - | -200 | ||
Purchase of shares in consolidated subsidiaries | ||||||
- | - | - | -79 | -612 | ||
Purchase of shares in consolidated subsidiaries | ||||||
0 | 0 | 55 | 0 | - | ||
Capital contribution from parent company | ||||||
0 | 8 | 318 | 0 | - | ||
Other, net | ||||||
20 | -132 | -59 | 4 | 4 | ||
Net cash provided by (used in) financing activities | ||||||
8,705 | 1,655 | 9,070 | 5,111 | 2,898 | ||
Effect of exchange rate changes on cash and cash equivalents | ||||||
8 | -12 | 22 | -10 | -10 | ||
Change in cash and cash equivalents | ||||||
1 | -345 | -840 | -903 | 555 | ||
Change in cash of businesses held for sale | ||||||
-65 | 0 | 0 | - | - | ||
Non-cash transactions: | ||||||
Interest paid | ||||||
273 | 178 | 119 | 119 | 120 | ||
Income taxes (refunded) paid | ||||||
-506 | 57 | 31 | 31 | 94 | ||
Non-cash transactions: | ||||||
Capital contribution from parent company | ||||||
0 | 622 | 0 | 0 | - | ||
(Settlement) issuance of long-term debt | ||||||
0 | -202 | 202 | 0 | - | ||
Transfer of assets to reinsurer | ||||||
0 | -604 | 0 | 0 | - | ||
Contribution of 0.5% minority interest in AXA Financial | ||||||
0 | 65 | 0 | 0 | - | ||
Repayment of loans from affiliates | ||||||
0 | -622 | 0 | 0 | - | ||