ALLSTATE CORP

For the period ended Dec 31, 2023. Filed Feb 21, 2024.

About this filing

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.

FY2023 · Filed Feb 21, 2024

ALL$261.12+2.9%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Cash Flows

The Allstate Corporation and Subsidiaries Consolidated Statements of Cash Flows

	Years Ended December 31,
($ in millions)	2023	2022	2021
Cash flows from operating activities
Net (loss) income	$(213)	$(1,342)	$1,581
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, amortization and other non-cash items	704	847	1,086
Net (gains) losses on investments and derivatives	300	1,072	(1,279)
Pension and other postretirement remeasurement (gains) losses	9	116	(644)
Amortization of deferred gain on reinsurance	—	—	(4)
Loss on disposition of operations, net of tax	—	—	4,031
Changes in:
Policy benefits and other insurance reserves	2,202	4,445	2,444
Unearned premiums	2,385	2,539	1,608
Deferred policy acquisition costs	(489)	(713)	(624)
Premium installment receivables, net	(861)	(1,038)	(498)
Reinsurance recoverables, net	807	451	(1,570)
Income taxes	(229)	(715)	353
Other operating assets and liabilities	(387)	(541)	(1,368)
Net cash provided by operating activities	4,228	5,121	5,116
Cash flows from investing activities
Proceeds from sales
Fixed income securities	22,973	31,494	31,774
Equity securities	5,400	10,969	4,513
Limited partnership interests	710	970	886
Other investments	594	1,071	1,406
Investment collections
Fixed income securities	1,641	728	2,284
Mortgage loans	81	163	860
Other investments	152	167	550
Investment purchases
Fixed income securities	(29,431)	(36,920)	(33,857)
Equity securities	(2,935)	(9,294)	(6,409)
Limited partnership interests	(890)	(1,258)	(1,766)
Mortgage loans	(145)	(104)	(221)
Other investments	(292)	(295)	(1,647)
Change in short-term and other investments, net	(617)	792	4,017
Purchases of property and equipment, net	(267)	(420)	(345)
Proceeds from sale of property and equipment	27	209	—
Acquisition of operations, net of cash acquired	—	—	(3,593)
Proceeds from disposition of operations, net of cash transferred	—	—	2,058
Net cash (used in) provided by investing activities	(2,999)	(1,728)	510
Cash flows from financing activities
Proceeds from issuance of debt	743	—	—
Redemption and repayment of debt	(750)	—	(436)
Proceeds from issuance of preferred stock	587	—	—
Redemption of preferred stock	(575)	—	(450)
Contractholder fund deposits	130	133	826
Contractholder fund withdrawals	(35)	(49)	(1,140)
Dividends paid on common stock	(925)	(926)	(885)
Dividends paid on preferred stock	(107)	(105)	(114)
Treasury stock purchases	(335)	(2,520)	(3,120)
Shares reissued under equity incentive plans, net	73	82	114
Other	(49)	(35)	(35)
Net cash used in financing activities	(1,243)	(3,420)	(5,240)
Net (decrease) increase in cash, including cash classified as assets held for sale	(14)	(27)	386
Cash from continuing operations at beginning of period	736	763	311
Cash classified as assets held for sale at beginning of period	—	—	66
Less: Cash classified as assets held for sale at end of period	—	—	—
Cash from continuing operations at end of period	$722	$736	$763

102 www.allstate.com

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.