v3.26.3
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2026
Mar. 31, 2026
Sep. 30, 2025
Mar. 31, 2025
Sep. 30, 2026
Sep. 30, 2025
Dec. 31, 2025
Cash flows from operating activities:              
Net earnings $ 303 $ 1,019 $ 1,639 $ 29 $ 2,147 $ 2,267  
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:              
Change in receivables         10 (28)  
Capitalization of deferred policy acquisition costs         (836) (796)  
Amortization of deferred policy acquisition costs 220   218   659 655 $ 874
Change in policy liabilities         (70) (732)  
Change in income tax liabilities         20 92  
Net investment (gains) losses 1,072   (275)   1,176 1,109  
Other, net         (829) (327)  
Net cash provided (used) by operating activities         2,277 2,240  
Proceeds from investments sold or matured:              
Fixed maturity securities available-for-sale         9,764 9,566  
Equity securities         707 355  
Fixed maturity securities held-to-maturity         35 2  
Commercial mortgage and other loans         1,860 1,421  
Costs of investments acquired:              
Fixed maturity securities available-for-sale         (11,659) (10,760)  
Equity securities         (713) (369)  
Commercial mortgage and other loans         (1,116) (1,068)  
Other investments, net         (1,314) (1,109)  
Settlement of derivatives, net         72 13  
Cash received (pledged or returned) as collateral, net         2,951 3,375  
Other, net         (115) (224)  
Net cash provided (used) by investing activities         472 1,202  
Cash flows from financing activities:              
Purchases of treasury stock         (2,787) (2,729)  
Proceeds from borrowings         911 1,039  
Principal payments under debt obligations         (400) (84)  
Dividends paid to shareholders         (898) (906)  
Change in investment-type contracts, net         (223) (198)  
Treasury stock reissued         10 5  
Other, net         (2) (12)  
Net cash provided (used) by financing activities         (3,389) (2,885)  
Effect of foreign exchange rate changes on cash and cash equivalents         18 (18)  
Net change in cash and cash equivalents         (622) 539  
Cash and cash equivalents, beginning of period   $ 6,245   $ 6,229 6,245 6,229 6,229
Cash and cash equivalents, end of period $ 5,623   $ 6,768   5,623 6,768 $ 6,245
Supplemental disclosures of cash flow information:              
Income taxes paid         554 602  
Interest paid         162 133  
Noncash interest         31 25  
Noncash real estate acquired in satisfaction of debt         0 247  
Noncash financing activities:              
Lease obligations         38 25  
Associate stock bonus              
Treasury stock issued for:              
Treasury stock issued         16 17  
Shareholder dividend reinvestment              
Treasury stock issued for:              
Treasury stock issued         31 33  
Share-based compensation grants              
Treasury stock issued for:              
Treasury stock issued         $ 6 $ 7