| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash Flows from Operating Activities | ||||||||||||
Net income (loss) | ||||||||||||
886 | 1,641 | 2,079 | 1,192 | 1,154 | 1,515 | 1,244 | 1,313 | 221 | 902 | -485 | 57 | 1,215 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||||||||
Realized (gain) loss | ||||||||||||
-610 | 141 | -170 | -339 | -151 | - | -135 | 74 | -294 | 69 | 1,146 | 535 | -175 |
Trading securities purchases, sales and maturities, net | ||||||||||||
-2,510 | -118 | 121 | 168 | 146 | 309 | 151 | 222 | 88 | 47 | -3 | 205 | 352 |
(Gain) loss on early extinguishment of debt | ||||||||||||
- | - | - | - | - | - | - | -5 | -8 | -5 | 64 | 0 | 0 |
(Income) Loss attributable to equity method investments | ||||||||||||
- | - | - | - | - | - | - | - | -90 | 379 | 55 | - | - |
Amortization of deferred gain on business sold through reinsurance | ||||||||||||
31 | 9 | 23 | 73 | 74 | 74 | 74 | 74 | 75 | -75 | -76 | -76 | 84 |
Deferred acquisition costs, value of business acquired, deferred sales inducements and deferred front-end loads deferrals and interest, net of amortization | ||||||||||||
-409 | -81 | 16 | 143 | -119 | -517 | -529 | -219 | -152 | -140 | -316 | -262 | -893 |
Change in premiums and fees receivable | ||||||||||||
-105 | 87 | -34 | 54 | -97 | 53 | 40 | -28 | 73 | 14 | -128 | -69 | 21 |
Change in accrued investment income | ||||||||||||
29 | 17 | 16 | -8 | 21 | 20 | 14 | 34 | 48 | 44 | 75 | -11 | 23 |
Change in future contract benefits and other contract holder funds | ||||||||||||
-1,479 | -105 | -1,720 | -1,024 | 991 | 524 | -634 | -131 | 125 | 643 | -463 | 1,071 | - |
Change in future contract benefits | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 649 |
Change in other contract holder funds | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 177 |
Change in reinsurance related assets and liabilities | ||||||||||||
134 | -718 | -128 | -226 | 252 | 9 | -300 | -9 | 66 | -22 | -77 | 346 | -155 |
Change in accrued expenses | ||||||||||||
107 | -101 | 113 | -27 | - | - | - | - | - | - | - | - | - |
Change in federal income tax accruals | ||||||||||||
-227 | 154 | -1,119 | 69 | 61 | 229 | 377 | 192 | 318 | 394 | 9 | -504 | 585 |
Impairment of intangibles | ||||||||||||
- | - | 905 | - | - | - | - | - | 747 | 0 | 730 | 381 | 0 |
(Gain) loss on disposal of discontinued operations | ||||||||||||
- | - | - | - | - | - | - | -1 | -3 | 66 | -219 | -12 | -57 |
Proceeds From Reinsurance Recapture | ||||||||||||
- | - | - | - | - | 422 | - | - | - | - | - | - | - |
Other | ||||||||||||
-425 | -89 | -100 | -305 | -109 | 200 | -117 | 31 | -24 | -23 | 55 | 106 | -53 |
Net cash provided by (used in) operating activities | ||||||||||||
-2,686 | 1,943 | 788 | 1,272 | 2,243 | 2,526 | 799 | 1,269 | 1,276 | 1,720 | 937 | 1,259 | 1,955 |
Cash Flows from Investing Activities | ||||||||||||
Purchases of available-for-sale securities and equity securities | ||||||||||||
15,326 | 12,650 | 10,148 | 11,113 | 9,429 | 8,636 | 10,880 | 11,161 | 10,702 | 13,057 | 13,532 | 6,800 | 12,299 |
Sales of available-for-sale securities and equity securities | ||||||||||||
6,807 | 3,668 | 1,612 | 2,959 | 1,351 | 1,118 | 975 | 1,134 | 1,497 | 3,118 | 3,818 | 2,285 | 6,825 |
Maturities of available-for-sale securities | ||||||||||||
6,571 | 6,004 | 5,886 | 5,364 | 4,408 | 5,212 | 6,171 | 5,974 | 5,324 | 4,652 | 3,330 | 3,881 | 4,202 |
Purchase of common stock in acquisition, net of cash acquired | ||||||||||||
- | 1,410 | - | - | - | - | - | - | - | - | - | - | - |
Purchases of other investments | ||||||||||||
- | - | - | - | - | - | 2,543 | 2,345 | 3,282 | 3,581 | 4,261 | 3,510 | 2,568 |
Sales or maturities of other investments | ||||||||||||
- | - | - | - | - | - | 2,610 | 2,276 | 3,094 | 3,239 | 4,340 | 3,613 | 2,110 |
Increase (decrease) in payables for collateral on investments | ||||||||||||
- | - | - | - | - | - | -943 | 448 | 2,074 | -248 | -1,799 | 2,571 | -369 |
Sale of business, net | ||||||||||||
- | -12 | - | - | 75 | - | - | - | - | 321 | 327 | 648 | 64 |
Purchases of alternative investments | ||||||||||||
433 | 314 | 357 | 302 | 324 | 370 | - | - | - | - | - | - | - |
Sales and repayments of alternative investments | ||||||||||||
131 | 178 | 184 | 238 | 177 | 238 | - | - | - | - | - | - | - |
Issuance of mortgage loans on real estate | ||||||||||||
4,262 | 2,927 | 2,058 | 2,155 | 1,959 | 1,374 | - | - | - | - | - | - | - |
Repayment and maturities of mortgage loans on real estate | ||||||||||||
1,163 | 1,085 | 1,184 | 942 | 853 | 1,009 | - | - | - | - | - | - | - |
Issuance (repayment) of policy loans, net | ||||||||||||
-32 | -21 | -51 | -92 | -125 | -8 | - | - | - | - | - | - | - |
Net change in collateral on investments, derivatives and related settlements | ||||||||||||
79 | 735 | -429 | 415 | 578 | 1,052 | - | - | - | - | - | - | - |
Other | ||||||||||||
261 | 193 | 113 | 106 | 78 | 62 | 100 | 183 | 130 | 74 | 75 | 117 | -74 |
Net cash provided by (used in) investing activities | ||||||||||||
-5,499 | -5,815 | -4,188 | -3,666 | -4,223 | -1,805 | -4,710 | -3,857 | -2,125 | -5,630 | -7,852 | 2,571 | -1,961 |
Cash Flows from Financing Activities | ||||||||||||
Payment of long-term debt, including current maturities | ||||||||||||
308 | 537 | - | 600 | 250 | 500 | - | 320 | 525 | 405 | 522 | 300 | 658 |
Notes issued | ||||||||||||
744 | 1,094 | - | 395 | 298 | - | 393 | 300 | 298 | 749 | 788 | 450 | 1,422 |
Payment related to early extinguishment of debt | ||||||||||||
42 | 23 | - | 59 | - | - | - | - | - | - | - | - | - |
Proceeds from sale-leaseback transactions | ||||||||||||
- | 88 | 62 | 85 | 47 | 83 | - | - | - | - | - | - | - |
Payments related to sale-leaseback transactions | ||||||||||||
83 | - | - | - | - | - | - | - | - | - | - | - | - |
Proceeds from certain financing arrangements | ||||||||||||
107 | - | - | - | - | - | - | - | - | - | - | - | - |
Increase (decrease) in commercial paper, net | ||||||||||||
- | - | - | - | - | - | - | - | -100 | 1 | -216 | 50 | 265 |
Deposits of fixed account values, including the fixed portion of variable | ||||||||||||
16,069 | 13,638 | 10,797 | 10,053 | 10,769 | 10,388 | 10,492 | 10,694 | 10,953 | 11,080 | 11,378 | 9,840 | 9,519 |
Withdrawals of fixed account values, including the fixed portion of variable | ||||||||||||
5,849 | 6,007 | 5,825 | 5,505 | 6,126 | 5,840 | 5,296 | 5,691 | 5,050 | 5,305 | 5,530 | 5,998 | -6,733 |
Transfers to and from separate accounts, net | ||||||||||||
1,362 | 2,469 | 1,787 | 1,308 | 2,474 | 2,509 | 3,001 | 2,091 | 2,325 | 2,957 | 2,248 | 2,204 | -2,448 |
Common stock issued for benefit plans | ||||||||||||
20 | 6 | -46 | -26 | -47 | -32 | -35 | 1 | -3 | -1 | 0 | -49 | 98 |
Payment of funding agreements | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 550 | 0 |
Issuance (redemption) of Series B preferred stock and issuance (repurchase and cancellation) of associated common stock warrants | ||||||||||||
- | - | - | - | - | - | - | - | - | -998 | 950 | 0 | 0 |
Issuance of common stock | ||||||||||||
- | - | - | - | - | - | - | - | - | 368 | 652 | 0 | 0 |
Repurchase of common stock | ||||||||||||
550 | 900 | 725 | 879 | 900 | 650 | 450 | 492 | 575 | 25 | 0 | 476 | 986 |
Dividends paid to common stockholders | ||||||||||||
303 | 289 | 262 | 238 | 204 | 170 | 128 | 91 | 61 | 42 | 79 | 430 | 430 |
Net cash provided by (used in) financing activities | ||||||||||||
8,403 | 4,589 | 2,306 | 1,970 | 1,207 | 834 | 2,045 | 2,308 | 2,618 | 2,467 | 5,173 | 431 | 49 |
Net increase (decrease) in cash, invested cash and restricted cash | ||||||||||||
218 | 717 | -1,094 | -424 | -773 | 1,555 | -1,866 | -280 | 1,769 | -1,443 | -1,742 | 4,261 | 43 |