XML 18 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows From Operating Activities    
Net Income $ 739 $ 403
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 48 40
Gain (Loss) on Sale of Investments (367) (156)
Share-based compensation 22 19
Interest credited to contract holders' 37 36
Deferred income tax expense 130 32
Changes in:    
Investment income receivable 5 6
Premiums and reinsurance receivable (114) (66)
Deferred policy acquisition costs (53) (44)
Other assets (22) (34)
Loss and loss expense reserves 305 265
Life policy and investment contract reserves 68 71
Unearned premiums 187 168
Other liabilities (37) (46)
Current income tax receivable/payable (122) 52
Net cash provided by operating activities 826 746
Cash Flows From Investing Activities    
Sale of fixed maturities 6 20
Call or maturity of fixed maturities 920 815
Sale of equity securities 293 290
Purchase of fixed maturities (1,250) (1,155)
Purchase of equity securities (311) (399)
Investment in finance receivables (25) (21)
Collection of finance receivables 18 17
Investment in buildings and equipment (14) (14)
Change in other invested assets, net (17) (12)
Net cash used in investing activities (380) (459)
Cash Flows From Financing Activities    
Payment of cash dividends to shareholders (251) (239)
Shares acquired - share repurchase authorization (125) (70)
Changes in note payable 6 (3)
Proceeds from stock options exercised 7 10
Contract holders' funds deposited 62 60
Contract holders' funds withdrawn (133) (119)
Other (53) (29)
Net cash used in financing activities (487) (390)
Net change in cash and cash equivalents (41) (103)
Cash and cash equivalents at beginning of year 657 777
Cash and cash equivalents at end of period 616 674
Supplemental Disclosures of Cash Flow Information:    
Interest paid 27 26
Income taxes paid 82 44
Noncash Activities    
Conversion of securities 0 5
Equipment acquired under capital lease obligations 14 10
Cashless exercise of stock options 4 6
Other assets and other liabilities $ 38 $ 74