v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Cash flows from operating activities:              
Net earnings $ 825 $ 1,019 $ 599 $ 29 $ 1,844 $ 628  
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:              
Change in receivables and advance premiums         (32) (48)  
Capitalization of deferred policy acquisition costs         (546) (503)  
Amortization of deferred policy acquisition costs 218   221   439 437 $ 874
Change in policy liabilities         431 (195)  
Change in income tax liabilities         (128) (267)  
Net investment (gains) losses 153   421   104 1,384  
Other, net         (1,032) (448)  
Net cash provided (used) by operating activities         1,080 988  
Proceeds from investments sold or matured:              
Fixed maturity securities available-for-sale         7,336 7,816  
Equity securities         463 240  
Fixed maturity securities held-to-maturity         34 2  
Commercial mortgage and other loans         1,239 1,075  
Costs of investments acquired:              
Fixed maturity securities available-for-sale         (9,003) (9,412)  
Equity securities         (457) (249)  
Commercial mortgage and other loans         (914) (799)  
Other investments, net         (1,587) (1,012)  
Settlement of derivatives, net         58 26  
Cash received (pledged or returned) as collateral, net         3,673 3,523  
Other, net         193 (36)  
Net cash provided (used) by investing activities         1,035 1,174  
Cash flows from financing activities:              
Purchases of treasury stock         (1,984) (1,729)  
Proceeds from borrowings         911 1,039  
Principal payments under debt obligations         (400) 0  
Dividends paid to shareholders         (603) (607)  
Change in investment-type contracts, net         (138) (123)  
Treasury stock reissued         7 2  
Other, net         3 (5)  
Net cash provided (used) by financing activities         (2,204) (1,423)  
Effect of foreign exchange rate changes on cash and cash equivalents         (36) (3)  
Net change in cash and cash equivalents         (125) 736  
Cash and cash equivalents, beginning of period   $ 6,245   $ 6,229 6,245 6,229 6,229
Cash and cash equivalents, end of period $ 6,120   $ 6,965   6,120 6,965 $ 6,245
Supplemental disclosures of cash flow information:              
Income taxes paid         504 605  
Interest paid         114 92  
Noncash interest         10 10  
Noncash real estate acquired in satisfaction of debt         0 247  
Noncash financing activities:              
Lease obligations         32 19  
Associate stock bonus              
Treasury stock issued for:              
Treasury stock issued         11 12  
Shareholder dividend reinvestment              
Treasury stock issued for:              
Treasury stock issued         21 22  
Share-based compensation grants              
Treasury stock issued for:              
Treasury stock issued         $ 6 $ 7