Consolidated Statements of Cash Flows - USD ($)
$ in Millions |
12 Months Ended |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
| Cash flows from operating activities: |
|
|
|
|
|
| Net earnings |
$ 4,322
|
|
$ 45,353
|
|
$ 24,427
|
| Adjustments to reconcile net earnings to operating cash flows: |
|
|
|
|
|
| Investment gains/losses |
22,155
|
|
(1,410)
|
|
(7,553)
|
| Depreciation and amortization |
9,779
|
|
9,188
|
|
8,901
|
| Other |
2,957
|
|
458
|
|
(161)
|
| Changes in operating assets and liabilities: |
|
|
|
|
|
| Losses and loss adjustment expenses |
3,449
|
|
25,027
|
|
4,372
|
| Deferred charges reinsurance assumed |
1,174
|
|
(7,231)
|
|
(360)
|
| Unearned premiums |
1,794
|
|
1,761
|
|
968
|
| Receivables and originated loans |
(3,443)
|
|
(1,990)
|
|
(3,302)
|
| Other assets |
(1,832)
|
|
(1,665)
|
|
(373)
|
| Other liabilities |
2,002
|
|
1,194
|
|
1,684
|
| Income taxes |
(4,957)
|
|
(24,957)
|
|
4,044
|
| Net cash flows from operating activities |
37,400
|
|
45,728
|
|
32,647
|
| Cash flows from investing activities: |
|
|
|
|
|
| Purchases of U.S. Treasury Bills and fixed maturity securities |
(141,844)
|
|
(158,492)
|
|
(96,568)
|
| Purchases of equity securities |
(43,210)
|
|
(20,326)
|
|
(16,508)
|
| Sales of U.S. Treasury Bills and fixed maturity securities |
39,693
|
|
49,327
|
|
18,757
|
| Redemptions and maturities of U.S. Treasury Bills and fixed maturity securities |
113,045
|
|
86,727
|
|
26,177
|
| Sales and redemptions of equity securities |
18,783
|
|
19,512
|
|
28,464
|
| Purchases of loans and finance receivables |
(1,771)
|
|
(1,435)
|
|
(307)
|
| Collections of loans and finance receivables |
342
|
|
1,702
|
|
490
|
| Acquisitions of businesses, net of cash acquired |
(3,279)
|
|
(2,708)
|
|
(31,399)
|
| Purchases of property, plant and equipment and equipment held for lease |
(14,537)
|
|
(11,708)
|
|
(12,954)
|
| Other |
(71)
|
|
(3,608)
|
|
(377)
|
| Net cash flows from investing activities |
(32,849)
|
|
(41,009)
|
|
(84,225)
|
| Cash flows from financing activities: |
|
|
|
|
|
| Changes in short term borrowings, net |
(1,943)
|
|
2,079
|
|
130
|
| Acquisition of treasury stock |
(1,346)
|
|
|
|
|
| Other |
(343)
|
|
(121)
|
|
112
|
| Net cash flows from financing activities |
(5,812)
|
|
(1,398)
|
|
12,791
|
| Effects of foreign currency exchange rate changes |
(140)
|
|
248
|
|
(172)
|
| Increase (decrease) in cash and cash equivalents and restricted cash |
(1,401)
|
|
3,569
|
|
(38,959)
|
| Cash and cash equivalents and restricted cash at beginning of year |
32,212
|
|
28,643
|
|
67,602
|
| Cash and cash equivalents and restricted cash at end of year |
30,811
|
|
32,212
|
|
28,643
|
| Restricted cash, included in other assets at end of year |
450
|
|
629
|
|
595
|
| Insurance and Other [Member] |
|
|
|
|
|
| Cash flows from financing activities: |
|
|
|
|
|
| Proceeds from borrowings |
2,409
|
|
2,645
|
|
14,172
|
| Repayments of borrowings |
(7,395)
|
|
(5,465)
|
|
(2,577)
|
| Cash and cash equivalents at end of year |
27,749
|
[1] |
28,673
|
[1] |
24,109
|
| Railroad, Utilities and Energy [Member] |
|
|
|
|
|
| Cash flows from financing activities: |
|
|
|
|
|
| Proceeds from borrowings |
7,019
|
|
3,013
|
|
3,077
|
| Repayments of borrowings |
(4,213)
|
|
(3,549)
|
|
(2,123)
|
| Cash and cash equivalents at end of year |
$ 2,612
|
[1] |
$ 2,910
|
[1] |
$ 3,939
|
|
|