XML 33 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES    
NET INCOME $ 395 $ 229
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 30 32
Realized gains on investments, net (77) (29)
Stock-based compensation 14 12
Interest credited to contract holders 31 25
Deferred income tax expense 15 4
Changes in:    
Investment income receivable 0 3
Premiums and reinsurance receivable (148) (129)
Deferred policy acquisition costs (60) (37)
Other assets (5) (4)
Loss and loss expense reserves 77 5
Life policy reserves 53 53
Unearned premiums 234 185
Other liabilities 15 33
Current income tax receivable (36) 51
Net cash provided by operating activities 538 433
CASH FLOWS FROM INVESTING ACTIVITIES    
Sale of fixed maturities 28 131
Call or maturity of fixed maturities 711 689
Sale of equity securities 178 165
Purchase of fixed maturities (1,016) (914)
Purchase of equity securities (216) (325)
Investment in buildings and equipment, net (5) (5)
Investment in finance receivables (26) (24)
Collection of finance receivables 22 24
Change in other invested assets, net 4 2
Net cash used in investing activities (320) (257)
CASH FLOWS FROM FINANCING ACTIVITIES    
Payment of cash dividends to shareholders (195) (191)
Proceeds from stock options exercised 17 6
Contract holders' funds deposited 64 79
Contract holders' funds withdrawn (78) (83)
Excess tax benefits on stock-based compensation 10 1
Other (12) (10)
Net cash used in financing activities (194) (198)
Net change in cash and cash equivalents 24 (22)
Cash and cash equivalents at beginning of year 487 438
Cash and cash equivalents at end of period 511 416
Supplemental disclosures of cash flow information:    
Interest paid 27 28
Income taxes paid 169 8
Non-cash activities:    
Conversion of securities 59 21
Equipment acquired under capital lease obligations 21 20
Cashless exercise of stock options $ 22 $ 7