XML 112 R8.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows From Operating Activities      
Net Income $ 1,997 $ 287 $ 1,045
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 72 63 55
Investment gains and losses, net (1,640) 408 (148)
Share-based compensation 30 28 26
Interest credited to contract holders' 44 47 48
Deferred income tax expense 343 (47) (444)
Changes in:      
Investment income receivable (1) 2 0
Premiums and reinsurance receivable (174) (109) 77
Deferred policy acquisition costs (61) (48) (36)
Other assets (22) (1) (43)
Loss and loss expense reserves 163 434 188
Life policy and investment contract reserves 107 96 96
Unearned premiums 184 112 97
Other liabilities 74 0 24
Current income tax receivable/payable 92 (91) 67
Net cash provided by operating activities 1,208 1,181 1,052
Cash Flows From Investing Activities      
Sale of fixed maturities 102 36 23
Call or maturity of fixed maturities 1,241 1,127 1,172
Sale of equity securities 203 403 523
Purchase of fixed maturities (1,742) (1,510) (1,723)
Purchase of equity securities (382) (441) (513)
Investment in finance receivables (34) (33) (32)
Collection of finance receivables 29 25 23
Investment in buildings and equipment (24) (20) (16)
Change in other invested assets, net (72) (38) (15)
Net cash used in investing activities (679) (451) (558)
Cash Flows From Financing Activities      
Payment of cash dividends to shareholders (355) (336) (400)
Shares acquired - share repurchase authorization (67) (125) (92)
Changes in note payable 7 8 4
Proceeds from stock options exercised 11 9 13
Contract holders' funds deposited 86 84 79
Contract holders' funds withdrawn (174) (183) (164)
Other (54) (60) (54)
Net cash used in financing activities (546) (603) (614)
Net change in cash and cash equivalents (17) 127 (120)
Cash and cash equivalents at beginning of year 784 657 777
Cash and cash equivalents at end of year 767 784 657
Supplemental Disclosures of Cash Flow Information      
Interest paid 53 53 52
Income taxes paid 34 98 60
Noncash Activities      
Conversion of securities 0 0 5
Equipment acquired under finance lease obligations 14 21 14
Cashless exercise of stock options 9 5 7
Other assets and other liabilities $ 29 $ 48 $ 75