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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating Activities:      
Net earnings, including noncontrolling interests $ 370 $ 406 $ 453
Adjustments:      
Depreciation and amortization 132 144 142
Annuity benefits 732 648 531
Realized (gains) losses on investing activities 100 (58) (230)
Net (purchases) sales of trading securities 10 (109) 2
Deferred annuity and life policy acquisition costs (224) (198) (222)
Change in:      
Reinsurance and other receivables (10) (199) 176
Other assets (13) (87) (149)
Insurance claims and reserves 451 587 (200)
Payable to reinsurers (54) 134 51
Other liabilities 27 (63) 280
Managed investment entities’ assets/liabilities (190) 2 (98)
Other operating activities, net 26 15 24
Net cash provided by operating activities 1,357 1,222 760
Investing Activities:      
Purchases of fixed maturities (7,201) (6,846) (6,690)
Purchases of equity securities (570) (471) (461)
Purchases of mortgage loans (213) (450) (274)
Purchases of real estate, property and equipment (102) (47) (52)
Purchases of businesses 0 (267) 0
Proceeds from maturities and redemptions of fixed maturities 3,333 2,988 3,236
Proceeds from repayments of mortgage loans 265 116 102
Proceeds from sales of fixed maturities 321 287 275
Proceeds from sales of equity securities 364 155 434
Proceeds from sales of real estate, property and equipment 117 14 34
Proceeds from sales of businesses 7 0 0
Cash and cash equivalents of businesses acquired (sold) (49) 1,078 (5)
Managed investment entities:      
Purchases of investments (1,530) (1,692) (1,426)
Proceeds from sales and redemptions of investments 855 1,417 1,904
Other investing activities, net (174) 99 8
Net cash used in investing activities (4,577) (3,619) (2,915)
Financing Activities:      
Annuity receipts 4,485 3,696 4,233
Annuity surrenders, benefits and withdrawals (2,025) (1,773) (1,588)
Net transfers from variable annuity assets 43 43 32
Additional long-term borrowings 145 145 0
Reductions of long-term debt (192) (2) (40)
Issuances of managed investment entities’ liabilities 1,026 1,400 1,192
Retirements of managed investment entities’ liabilities (136) (1,094) (1,560)
Issuances of Common Stock 61 47 54
Repurchases of Common Stock (126) (191) (70)
Cash dividends paid on Common Stock (176) (167) (160)
Other financing activities, net (8) (3) (4)
Net cash provided by (used in) financing activities 3,097 2,101 2,089
Net Change in Cash and Cash Equivalents (123) (296) (66)
Cash and cash equivalents at beginning of year 1,343 1,639 1,705
Cash and cash equivalents at end of year $ 1,220 $ 1,343 $ 1,639