XML 18 R8.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash Flows From Operating Activities    
Net Income $ 201 $ 188
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 14 12
Realized investment gains, net (160) (61)
Share-based compensation 8 7
Interest credited to contract holders' 13 13
Deferred income tax expense 35 12
Changes in:    
Investment income receivable 11 8
Premiums and reinsurance receivable (44) (23)
Deferred policy acquisition costs (25) (9)
Other assets (5) (12)
Loss and loss expense reserves 92 86
Life policy reserves 25 22
Unearned premiums 70 47
Other liabilities (139) (90)
Current income tax receivable/payable 40 65
Net cash provided by operating activities 136 265
Cash Flows From Investing Activities    
Sale of fixed maturities 12 14
Call or maturity of fixed maturities 249 368
Sale of equity securities 216 132
Purchase of fixed maturities (403) (496)
Purchase of equity securities (313) (129)
Investment in finance receivables (5) (6)
Collection of finance receivables 6 8
Investment in buildings and equipment, net (2) (3)
Change in other invested assets, net (6) 4
Net cash used in investing activities (246) (108)
Cash Flows From Financing Activities    
Payment of cash dividends to shareholders (77) (74)
Payments for Repurchase of Common Stock (15) 0
Repayments of Notes Payable (3) 0
Proceeds from stock options exercised 6 9
Contract holders' funds deposited 23 26
Contract holders' funds withdrawn (43) (39)
Excess tax benefits on stock-based compensation 0 2
Other (15) (12)
Net cash used in financing activities (124) (88)
Net change in cash and cash equivalents (234) 69
Cash and cash equivalents at beginning of year 777 544
Cash and cash equivalents at end of period 543 613
Supplemental Disclosures of Cash Flow Information:    
Income taxes paid (refunded) 0 (1)
Noncash Activities    
Conversion of securities 4 3
Equipment acquired under capital lease obligations 3 9
Cashless exercise of stock options 4 5
Other assets and other liabilities $ 73 $ 0