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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows From Operating Activities    
Net Income (Loss) $ (317) $ 1,123
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 42 36
Investment gains and losses, net 669 (1,022)
Share-based compensation 16 16
Interest credited to contract holders' 23 21
Deferred income tax expense (140) 218
Changes in:    
Investment income receivable 2 2
Premiums and reinsurance receivable (232) (231)
Deferred policy acquisition costs (59) (68)
Other assets (25) (47)
Loss and loss expense reserves 316 25
Life policy and investment contract reserves 65 52
Unearned premiums 319 292
Other liabilities (51) (8)
Current income tax receivable/payable (14) 67
Net cash provided by operating activities 614 476
Cash Flows From Investing Activities    
Sale of fixed maturities 87 52
Call or maturity of fixed maturities 563 625
Sale of equity securities 222 142
Purchase of fixed maturities (757) (765)
Purchase of equity securities (371) (212)
Investment in finance receivables (23) (17)
Collection of finance receivables 15 13
Investment in building and equipment (10) (13)
Change in other invested assets, net 32 (41)
Net cash used in investing activities (242) (216)
Cash Flows From Financing Activities    
Payment of cash dividends to shareholders (185) (175)
Shares acquired - share repurchase authorization (256) 0
Changes in note payable 83 5
Proceeds from stock options exercised 4 7
Contract holders' funds deposited 44 44
Contract holders' funds withdrawn (83) (93)
Other (40) (29)
Net cash used in financing activities (433) (241)
Net change in cash and cash equivalents (61) 19
Cash and cash equivalents at beginning of year 767 784
Cash and cash equivalents at end of year 706 803
Supplemental Disclosures of Cash Flow Information:    
Interest Paid 27 27
Income taxes paid 31 13
Noncash Activities    
Equipment acquired under finance lease obligations 9 7
Cashless exercise of stock options 3 7
Other assets and other liabilities $ 48 $ 28