v3.26.3
Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating Activities:    
Net earnings $ 721 $ 543
Adjustments:    
Depreciation and amortization 71 64
Realized gains on investing activities (96) (19)
Net sales of trading securities 14 6
Change in:    
Reinsurance and other receivables (2,226) (2,272)
Other assets (60) 14
Insurance claims and reserves 2,034 1,765
Payable to reinsurers 284 386
Other liabilities 240 173
Managed investment entities’ assets/liabilities (4) 104
Other operating activities, net (7) (15)
Net cash provided by operating activities 971 749
Purchases of:    
Fixed maturities (2,915) (1,493)
Equity securities (107) (20)
Mortgage loans (15) (279)
Other investments (125) (171)
Real estate, property and equipment (85) (99)
Businesses 0 (7)
Proceeds from:    
Maturities and redemptions of fixed maturities 1,722 1,636
Repayments of mortgage loans 185 94
Sales of fixed maturities 102 78
Sales of equity securities 123 83
Sales of other investments 129 38
Sales of real estate, property and equipment 94 2
Cash and cash equivalents of businesses acquired 0 3
Managed investment entities:    
Purchases of investments (1,313) (1,577)
Proceeds from sales and redemptions of investments 918 1,640
Other investing activities, net (2) 1
Net cash used in investing activities (1,289) (71)
Financing Activities:    
Additional long-term borrowings 0 344
Issuances of Common Stock 7 9
Repurchases of Common Stock (112) (98)
Cash dividends paid on Common Stock (343) (367)
Issuances of managed investment entities’ liabilities 1,365 2,454
Retirements of managed investment entities’ liabilities (978) (2,584)
Net cash used in financing activities (61) (242)
Net Change in Cash and Cash Equivalents (379) 436
Cash and cash equivalents at beginning of period 1,727 1,406
Cash and cash equivalents at end of period $ 1,348 $ 1,842