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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows From Operating Activities    
Net Income $ 1,371 $ 739
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 54 48
Investment gains and losses, net (1,103) (367)
Share-based compensation 23 22
Interest credited to contract holders' 31 37
Deferred income tax expense 236 130
Changes in:    
Investment income receivable 7 5
Premiums and reinsurance receivable (156) (114)
Deferred policy acquisition costs (69) (53)
Other assets (36) (22)
Loss and loss expense reserves 72 305
Life policy and investment contract reserves 79 68
Unearned premiums 255 187
Other liabilities 39 (37)
Current income tax receivable/payable 77 (122)
Net cash provided by operating activities 880 826
Cash Flows From Investing Activities    
Sale of fixed maturities 61 6
Call or maturity of fixed maturities 988 920
Sale of equity securities 194 293
Purchase of fixed maturities (1,345) (1,250)
Purchase of equity securities (341) (311)
Investment in finance receivables (25) (25)
Collection of finance receivables 20 18
Investment in buildings and equipment (22) (14)
Change in other invested assets, net (56) (17)
Net cash used in investing activities (526) (380)
Cash Flows From Financing Activities    
Payment of cash dividends to shareholders (265) (251)
Shares acquired - share repurchase authorization (5) (125)
Changes in note payable 6 6
Proceeds from stock options exercised 9 7
Contract holders' funds deposited 67 62
Contract holders' funds withdrawn (133) (133)
Other (30) (53)
Net cash used in financing activities (351) (487)
Net change in cash and cash equivalents 3 (41)
Cash and cash equivalents at beginning of year 784 657
Cash and cash equivalents at end of period 787 616
Supplemental Disclosures of Cash Flow Information:    
Interest paid 27 27
Income taxes paid 3 82
Noncash Activities    
Equipment acquired under capital lease obligations 6 14
Cashless exercise of stock options 9 4
Other assets and other liabilities $ 65 $ 38