v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities      
Net Income (Loss) $ 6,509 $ (3,507) $ 4,267
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by Operating Activities:      
Equity-based compensation 1,026 540 1,181
Net investment income (1,140) (1,306) (3,699)
Net recognized (gains) losses on investments and derivatives (2,073) 5,735 (3,165)
Depreciation and amortization 803 529 27
Net amortization of net investment premiums, discount and other 81 285 0
Policy acquisition costs deferred (1,570) (1,127) 0
Other non-cash amounts included in net income (loss), net (415) 321 642
Changes in consolidation (54) (482) (48)
Changes in operating assets and liabilities:      
Purchases of investments by Funds and VIEs (5,744) (7,139) (4,725)
Proceeds from sale of investments by Funds and VIEs 5,464 3,995 3,534
Interest sensitive contract liabilities 3,917 (1,337) 0
Future policy benefits, market risk benefits and reinsurance recoverable 4,333 3,901 0
Other assets and liabilities, net (4,815) 3,381 3,050
Net cash provided by operating activities 6,322 3,789 1,064
Cash Flows from Investing Activities      
Purchases of investments and contributions to equity method investments (4,650) (3,992) 0
Purchases of available-for-sale securities (37,263) (36,684) 0
Purchases of mortgage loans (20,972) (12,951) 0
Purchases of investment funds (2,678) (6,308) (1,024)
Purchases of U.S. Treasury securities (490) (4,939) (4,491)
Purchases of derivatives instruments and other investments (5,637) (3,008) 0
Sales, maturities and repayments of investments and distributions from equity method investments 29,052 34,295 4,032
Cash acquired through merger 0 10,420 0
Other investing activities, net 231 (277) (69)
Net cash used in investing activities (42,407) (23,444) (1,552)
Cash Flows from Financing Activities      
Issuance of debt 4,912 5,745 1,334
Repayment of debt (3,780) (4,033) (1,968)
Redemption of subsidiary equity interests (575) 0 0
Repurchase of common stock (561) (635) (299)
Common stock dividends (1,012) (962) (517)
Preferred stock dividends (22) 0 (37)
Distributions paid to non-controlling interests (766) (1,050) (1,498)
Contributions from non-controlling interests 2,863 4,816 2,280
Distributions to redeemable non-controlling interests (1,072) (776) 0
Proceeds from issuance of Class A units of SPAC, net of underwriting and offering costs 0 0 1,001
Issuance of Mandatory Convertible Preferred stock, net of issuance costs 1,398 0 0
Deposits on investment-type policies and contracts 53,660 33,920 0
Withdrawals on investment-type policies and contracts (14,125) (10,209) 0
Subsidiary issuance of equity interests to non-controlling interests 632 0 0
Net change in cash collateral posted for derivative transactions and securities to repurchase 829 (330) 0
Other financing activities, net 257 2,224 (187)
Net cash provided by financing activities 42,638 28,710 109
Effect of exchange rate changes on cash and cash equivalents 10 (15) 0
Net Increase (Decrease) in Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, and Cash and Cash Equivalents Held at Consolidated Variable Interest Entities 6,563 9,040 (379)
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, and Cash and Cash Equivalents Held at Consolidated Variable Interest Entities, Beginning of Period 11,128 2,088 2,467
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, and Cash and Cash Equivalents Held at Consolidated Variable Interest Entities, End of Period 17,691 11,128 2,088
Supplemental Disclosure of Cash Flow Information      
Cash paid for taxes 358 1,007 121
Cash paid for interest 720 566 556
Noncash Investing and Financing Activities      
Purchases of U.S. Treasury securities (490) (4,939) (4,491)
Issuance of debt 4,912 5,745 1,334
Distributions paid to non-controlling interests 766 1,050 1,498
Contributions from non-controlling interests 2,863 4,816 2,280
Distributions to redeemable non-controlling interests 1,072 776 0
Investments, at fair value (2,784) (16,570) 0
Other assets (7) (216) 0
Debt, at fair value 0 7,919 0
Notes payable 2,717 2,611 0
Other liabilities 28 610 0
Non-controlling interest 5 6,128 0
Equity 95 0 0
Deferred tax assets 0 0 347
Due to affiliates 0 0 (288)
Additional paid in capital 0 0 (59)
Non-Controlling Interest in Apollo Operating Group 0 0 187
Reconciliation of Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, and Cash and Cash Equivalents Held at Consolidated Variable Interest Entities to the Consolidated Statements of Financial Condition:      
Restricted cash and cash equivalents 1,763 1,676 708
Total Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, and Cash and Cash Equivalents Held at Consolidated Variable Interest Entities 17,691 11,128 2,088
VIE, Primary Beneficiary      
Cash Flows from Investing Activities      
Purchases of U.S. Treasury securities 0 (1,509) (3,141)
Cash Flows from Financing Activities      
Issuance of debt 3,944 5,757 1,334
Distributions paid to non-controlling interests (86) (1,180) (980)
Contributions from non-controlling interests 1,861 5,077 2,280
Distributions to redeemable non-controlling interests (1,072) 0 1,001
Noncash Investing and Financing Activities      
Purchases of U.S. Treasury securities 0 (1,509) (3,141)
Proceeds from maturities of U.S. Treasury Securities - Asset Management 0 2,673 2,796
Issuance of debt 3,944 5,757 1,334
Principal repayment of debt (3,834) (4,032) (1,950)
Distributions paid to non-controlling interests 86 1,180 980
Contributions from non-controlling interests 1,861 5,077 2,280
Distributions to redeemable non-controlling interests 1,072 0 (1,001)
Reconciliation of Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, and Cash and Cash Equivalents Held at Consolidated Variable Interest Entities to the Consolidated Statements of Financial Condition:      
Cash and cash equivalents 160 472 463
Consolidated Entity, Excluding VIE      
Reconciliation of Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, and Cash and Cash Equivalents Held at Consolidated Variable Interest Entities to the Consolidated Statements of Financial Condition:      
Cash and cash equivalents 15,768 8,980 917
Asset Management      
Noncash Investing and Financing Activities      
Contributions to principal investments 0 0 58
Distributions from principal investments 1 7 93
Purchases of other investments, at fair value 10 9 0
Acquisition of goodwill and intangibles 0 335 0
Capital increases related to equity-based compensation 867 413 1,152
Purchase of limited partnership interests 0 0 570
Issuance of restricted shares 41 36 79
Asset Management | VIE, Primary Beneficiary      
Noncash Investing and Financing Activities      
Purchases of investments (5,743) (7,190) (4,725)
Proceeds from sale of investments 5,464 4,192 3,534
Reconciliation of Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, and Cash and Cash Equivalents Held at Consolidated Variable Interest Entities to the Consolidated Statements of Financial Condition:      
Cash and cash equivalents 62 110  
Retirement Services      
Noncash Investing and Financing Activities      
Investments received from settlements on reinsurance agreements 1,129 36 0
Reduction in investments relating to recapture of reinsurance agreement 482 0 0
Investments received at inception of reinsurance agreements 2,158 0 0
Investments received from pension group annuity premiums 4,776 4,185 0
Assets contributed to consolidated VIEs 0 8,007 0
Investments exchanged with third-party cedants 145 612 0
Deposits on investment-type policies and contracts through reinsurance agreements 99 878 0
Withdrawals on investment-type policies and contracts through reinsurance agreements 12,430 9,131 0
Borrowings of variable interest entities settled with investments 52 0 0
Retirement Services | VIE, Primary Beneficiary      
Noncash Investing and Financing Activities      
Purchases of investments (4,224) (4,495) 0
Proceeds from sale of investments 468 1,763 $ 0
Reconciliation of Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, and Cash and Cash Equivalents Held at Consolidated Variable Interest Entities to the Consolidated Statements of Financial Condition:      
Cash and cash equivalents $ 98 $ 362