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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows From Operating Activities    
Net Income $ 167 $ 1,371
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 62 54
Investment gains and losses, net 137 (1,103)
Share-based compensation 24 23
Interest credited to contract holders' 33 31
Deferred income tax expense (65) 236
Changes in:    
Investment income receivable 2 7
Premiums and reinsurance receivable (93) (156)
Deferred policy acquisition costs (46) (69)
Other assets (25) (36)
Loss and loss expense reserves 600 72
Life policy and investment contract reserves 94 79
Unearned premiums 236 255
Other liabilities (34) 39
Current income tax receivable/payable 27 77
Net cash provided by operating activities 1,119 880
Cash Flows From Investing Activities    
Sale of fixed maturities 100 61
Call or maturity of fixed maturities 756 988
Sale of equity securities 471 194
Purchase of fixed maturities (1,092) (1,345)
Purchase of equity securities (640) (341)
Investment in finance receivables (33) (25)
Collection of finance receivables 26 20
Investment in building and equipment (16) (22)
Change in other invested assets, net 16 (56)
Net cash used in investing activities (412) (526)
Cash Flows From Financing Activities    
Payment of cash dividends to shareholders (280) (265)
Shares acquired - share repurchase authorization (256) (5)
Changes in note payable 84 6
Proceeds from stock options exercised 5 9
Contract holders' funds deposited 64 67
Contract holders' funds withdrawn (123) (133)
Other (54) (30)
Net cash used in financing activities (560) (351)
Net change in cash and cash equivalents 147 3
Cash and cash equivalents at beginning of year 767 784
Cash and cash equivalents at end of year 914 787
Supplemental Disclosures of Cash Flow Information:    
Interest Paid 27 27
Income taxes paid 42 3
Noncash Activities    
Equipment acquired under finance lease obligations 13 6
Cashless exercise of stock options 3 9
Other assets and other liabilities $ 63 $ 65