| In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 |
| | Source | Source | Source | Source |
| Operating activities | | | | |
| Net income | | | | |
| Adjustments: | | | | |
| Increase in insurance contract liabilities | | | | |
| Increase in investment contract liabilities | | | | |
| Increase of reinsurance assets | | | | |
| Amortization of (premium) discount on invested assets | | | | |
| Other amortization | | | | |
| Net realized and unrealized (gains) losses and impairment on assets | | | | |
| Deferred income tax expense (recovery) | | | | |
| Stock option expense | | | | |
| Cash provided by (used in) operating activities before undernoted items | | | | |
| Changes in policy related and operating receivables and payables | | | | |
| Cash provided by (used in) operating activities | | | | |
| Investing activities | | | | |
| Purchases and mortgage advances | | | | |
| Disposals and repayments | | | | |
| Change in investment broker net receivables and payables | | | | |
| Net cash flows from acquisition and disposal of subsidiaries and businesses | | | | |
| Cash provided by (used in) investing activities | | | | |
| Financing activities | | | | |
| Issue of long-term debt, net (note 9) | | | | |
| Redemption of long-term debt (note 9) | | | | |
| Issue of capital instruments, net (note 10) | | | | |
| Redemption of capital instruments (note 10) | | | | |
| Secured borrowings (note 3 (f)) | | | | |
| Change in repurchase agreements and securities sold but not yet purchased | | | | |
| Changes in deposits from Bank clients, net | | | | |
| Lease payments | | | | |
| Shareholders' dividends and other equity distributions | | | | |
| Common shares repurchased (note 11) | | | | |
| Common shares issued, net (note 11) | | | | |
| Preferred shares and other equity issued, net (note 11) | | | | |
| Preferred shares redeemed, net (note 11) | | | | |
| Contributions from (distributions to) non-controlling interests, net | | | | |
| Cash provided by (used in) financing activities | | | | |
| Cash and short-term securities | | | | |
| Increase (decrease) during the year | | | | |
| Effect of foreign exchange rate changes on cash and short-term securities | | | | |
| Net cash and short-term securities, January 1 | | | | |
| Net cash and short-term securities, December 31 | | | | |
| Cash and short-term securities | | | | |
| Gross cash and short-term securities, beginning of year | | | | |
| Net payments in transit, included in other liabilities, end of year | | | | |
| Gross cash and short-term securities, end of year | | | | |
| Net cash and short-term securities, January 1 | | | | |
| Net payments in transit, included in other liabilities, end of year | | | | |
| Net cash and short-term securities, December 31 | | | | |
| Supplemental disclosures on cash flow information | | | | |
| Interest received | | | | |
| Interest paid | 981 | 1,188 | 1,299 | 1,212 |
| |
| Income taxes paid | | | | |