XML 66 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flows from operating activities:    
Net income $ 259 $ 13
Adjustments to reconcile net income to net cash from operating activities:    
Amortization of fixed maturity discounts and premiums and limited partnerships (59) (71)
Net investment losses (gains) (10) 225
Charges assessed to policyholders (590) (507)
Acquisition costs deferred (456) (485)
Amortization of deferred acquisition costs and intangibles 582 465
Goodwill impairment 89  
Deferred income taxes 14 (155)
Gain on sale of subsidiary (15)   
Net increase in trading securities, held-for-sale investments and derivative instruments 66 795
Stock-based compensation expense 20 23
Change in certain assets and liabilities:    
Accrued investment income and other assets (160) (152)
Insurance reserves 1,672 1,953
Current tax liabilities (190) 8
Other liabilities and other policy-related balances (795) (80)
Net cash from operating activities 427 2,032
Cash flows from investing activities:    
Fixed maturity securities 3,619 4,075
Commercial mortgage loans 559 633
Restricted commercial mortgage loans related to securitization entities 48 77
Proceeds from sales of investments:    
Fixed maturity and equity securities 3,956 3,446
Purchases and originations of investments:    
Fixed maturity and equity securities (8,942) (7,798)
Commercial mortgage loans (339) (202)
Other invested assets, net 531 (56)
Policy loans, net (8) (85)
Proceeds from sale of a subsidiary, net of cash transferred 64  
Payments for businesses purchased, net of cash acquired (18) (4)
Net cash from investing activities (530) 86
Cash flows from financing activities:    
Deposits to universal life and investment contracts 2,248 2,016
Withdrawals from universal life and investment contracts (2,057) (3,034)
Redemption and repurchase of non-recourse funding obligations (801) (112)
Proceeds from the issuance of long-term debt 361 545
Repayment and repurchase of long-term debt (222) (760)
Repayment of borrowings related to securitization entities (53) (77)
Repurchase of subsidiary shares   (71)
Dividends paid to noncontrolling interests (36) (35)
Other, net (103) 21
Net cash from financing activities (663) (1,507)
Effect of exchange rate changes on cash and cash equivalents 19 (95)
Net change in cash and cash equivalents (747) 516
Cash and cash equivalents at beginning of period 4,488 3,132
Cash and cash equivalents at end of period $ 3,741 $ 3,648