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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash Flows From Operating Activities      
Net Income $ 1,216 $ 1,997 $ 287
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 81 72 63
Investment gains and losses, net (851) (1,640) 408
Share-based compensation 31 30 28
Interest credited to contract holders 43 44 47
Deferred income tax expense 136 343 (47)
Changes in:      
Investment income receivable (3) (1) 2
Premiums and reinsurance receivable (23) (174) (109)
Deferred policy acquisition costs (39) (61) (48)
Other assets (26) (22) (1)
Loss and loss expense reserves 599 163 434
Life policy and investment contract reserves 116 107 96
Unearned premiums 172 184 112
Other liabilities (5) 74 0
Current income tax receivable/payable 44 92 (91)
Net cash provided by operating activities 1,491 1,208 1,181
Cash Flows From Investing Activities      
Sale of fixed maturities 179 102 36
Call or maturity of fixed maturities 912 1,241 1,127
Sale of equity securities 515 203 403
Purchase of fixed maturities (1,382) (1,742) (1,510)
Purchase of equity securities (699) (382) (441)
Investment in finance receivables (50) (34) (33)
Collection of finance receivables 35 29 25
Investment in buildings and equipment (20) (24) (20)
Change in other invested assets, net (50) (72) (38)
Net cash used in investing activities (560) (679) (451)
Cash Flows From Financing Activities      
Payment of cash dividends to shareholders (375) (355) (336)
Shares acquired - share repurchase authorization (261) (67) (125)
Changes in note payable 15 7 8
Proceeds from stock options exercised   11 9
Contract holders' funds deposited 85 86 84
Contract holders' funds withdrawn (159) (174) (183)
Other (110) (54) (60)
Net cash used in financing activities (798) (546) (603)
Net change in cash and cash equivalents 133 (17) 127
Cash and cash equivalents at beginning of year 767 784 657
Cash and cash equivalents at end of year 900 767 784
Supplemental Disclosures of Cash Flow Information      
Interest paid 53 53 53
Income taxes paid 84 34 98
Noncash Activities      
Equipment acquired under finance lease obligations 19 14 21
Share-based compensation 19 9 5
Other assets and other liabilities $ 57 $ 29 $ 48