v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Cash flows from operating activities:      
Net earnings $ 1,019 $ 29  
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:      
Change in receivables and advance premiums (30) (37)  
Capitalization of deferred policy acquisition costs (272) (246)  
Amortization of deferred policy acquisition costs 221 216 $ 874
Change in policy liabilities 519 (136)  
Change in income tax liabilities 224 117  
Net investment (gains) losses (49) 963  
Other, net (664) (317)  
Net cash provided (used) by operating activities 968 589  
Proceeds from investments sold or matured:      
Fixed maturity securities available-for-sale 1,563 5,935  
Equity securities 251 96  
Fixed maturity securities held-to-maturity 33 0  
Commercial mortgage and other loans 454 500  
Costs of investments acquired:      
Fixed maturity securities available-for-sale (2,766) (6,624)  
Equity securities (245) (101)  
Commercial mortgage and other loans (495) (392)  
Other investments, net (1,321) (697)  
Settlement of derivatives, net 16 18  
Cash received (pledged or returned) as collateral, net 2,578 984  
Other, net 176 (78)  
Net cash provided (used) by investing activities 244 (359)  
Cash flows from financing activities:      
Purchases of treasury stock (1,000) (900)  
Principal payments under debt obligations (400) 0  
Dividends paid to shareholders (304) (306)  
Change in investment-type contracts, net (70) (58)  
Treasury stock reissued 4 4  
Other, net 8 (1)  
Net cash provided (used) by financing activities (1,762) (1,261)  
Effect of foreign exchange rate changes on cash and cash equivalents (41) 33  
Net change in cash and cash equivalents (591) (998)  
Cash and cash equivalents, beginning of period 6,245 6,229 6,229
Cash and cash equivalents, end of period 5,654 5,231 $ 6,245
Supplemental disclosures of cash flow information:      
Income taxes paid (18) (1)  
Interest paid 51 40  
Noncash interest 10 10  
Noncash real estate acquired in satisfaction of debt 0 71  
Noncash financing activities:      
Lease obligations 20 10  
Associate stock bonus      
Treasury stock issued for:      
Treasury stock issued 5 5  
Shareholder dividend reinvestment      
Treasury stock issued for:      
Treasury stock issued 11 11  
Share-based compensation grants      
Treasury stock issued for:      
Treasury stock issued $ 6 $ 7