Jackson Financial Inc
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 26, 2025
JXN$138.01+1.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net income (loss) | $976 | $954 | $6,229 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Net realized losses (gains) on investments | 11 | 554 | 359 |
| Net losses (gains) on derivatives | 6,801 | 5,310 | 2,664 |
| Net losses (gains) on funds withheld reinsurance treaties | 1,052 | 1,801 | (2,186) |
| Net (gain) loss on market risk benefits | (3,809) | (3,897) | (3,536) |
| (Gain) loss from updating future policy benefits cash flow assumptions, net | 46 | 102 | (34) |
| Interest credited on other contract holder funds, gross | 1,110 | 1,145 | 866 |
| Mortality, expense and surrender charges | (545) | (528) | (530) |
| Amortization of discount and premium on investments | (33) | (27) | 11 |
| Deferred income tax expense (benefit) | 294 | (207) | 1,547 |
| Share-based compensation expense | 191 | 107 | 131 |
| Change in: | |||
| Accrued investment income | (17) | 2 | (11) |
| Deferred acquisition costs | 415 | 622 | 601 |
| Funds withheld, net of reinsurance | 211 | (20) | (73) |
| Future policy benefits | (777) | (731) | (1,137) |
| Other assets and liabilities, net | (133) | 123 | 305 |
| Net cash provided by (used in) operating activities | 5,793 | 5,310 | 5,206 |
| Cash flows from investing activities: | |||
| Sales, maturities and repayments of: | |||
| Debt securities | 10,524 | 11,488 | 11,535 |
| Equity securities | 289 | 316 | 84 |
| Mortgage loans | 1,783 | 2,492 | 1,695 |
| Purchases of: | |||
| Debt securities | (11,718) | (8,231) | (11,606) |
| Equity securities | (16) | (200) | (249) |
| Mortgage loans | (1,132) | (1,605) | (1,816) |
| Settlements related to derivatives and collateral on investments | (6,481) | (5,475) | (674) |
| Other investing activities | (339) | 623 | (343) |
| Net cash provided by (used in) investing activities | (7,090) | (592) | (1,374) |
Consolidated Statements of Cash Flows (continued)
| Years Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from financing activities: | |||
| Policyholders' account balances: | |||
| Deposits | 20,122 | 14,189 | 18,456 |
| Withdrawals | (39,372) | (29,112) | (25,173) |
| Net transfers to separate accounts | 19,892 | 10,017 | 5,685 |
| Proceeds from (payments on) repurchase agreements and securities lending | 1,532 | (1,025) | (541) |
| Net proceeds from (payments on) Federal Home Loan Bank notes | 450 | 250 | — |
| Proceeds from debt | — | — | 750 |
| Payments on debt | (5) | (603) | (825) |
| Debt issuance costs | — | — | (7) |
| Issuance of debt of consolidated investment entities | 948 | 297 | — |
| Repayments of debt of consolidated investment entities | (526) | (351) | — |
| Contributions from partners of consolidated investments | 29 | 111 | — |
| Distributions from partners of consolidated investments | — | (92) | — |
| Dividends on common stock | (211) | (201) | (186) |
| Dividends on preferred stock | (44) | (35) | — |
| Purchase of treasury stock | (442) | (306) | (321) |
| Issuance of preferred stock | — | 533 | — |
| Net cash provided by (used in) financing activities | 2,373 | (6,328) | (2,162) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 1,076 | (1,610) | 1,670 |
| Cash, cash equivalents, and restricted cash at beginning of period | 2,691 | 4,301 | 2,631 |
| Total cash, cash equivalents, and restricted cash at end of period | $3,767 | $2,691 | $4,301 |
| Supplemental cash flow information | |||
| Income taxes paid (received) | $(8) | $(21) | $(5) |
| Interest paid | $263 | $183 | $107 |
| Non-cash investing activities | |||
| Debt securities acquired from exchanges, payments-in-kind, and similar transactions | $50 | $144 | $506 |
| Other invested assets acquired from stock splits and stock distributions | $— | $317 | $112 |
| Non-cash financing activities | |||
| Non-cash dividend equivalents on stock based awards | $(5) | $(8) | $(13) |
| Reconciliation to Consolidated Balance Sheets | |||
| Cash and cash equivalents | $3,767 | $2,688 | $4,298 |
| Restricted cash (included in Other assets) | — | 3 | 3 |
| Total cash, cash equivalents, and restricted cash | $3,767 | $2,691 | $4,301 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.