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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows From Operating Activities    
Net Income (Loss) $ 1,323 $ (317)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 46 42
Investment gains and losses, net (1,011) 669
Share-based compensation 17 16
Interest credited to contract holders 23 23
Deferred income tax expense 206 (140)
Changes in:    
Investment income receivable (2) 2
Premiums and reinsurance receivable (365) (232)
Deferred policy acquisition costs (94) (59)
Other assets (23) (25)
Loss and loss expense reserves 273 316
Life policy and investment contract reserves 55 65
Unearned premiums 457 319
Other liabilities 23 (51)
Current income tax receivable/payable (11) (14)
Net cash provided by operating activities 917 614
Cash Flows From Investing Activities    
Sale of fixed maturities 73 87
Call or maturity of fixed maturities 690 563
Sale of equity securities 110 222
Purchase of fixed maturities (1,228) (757)
Purchase of equity securities (152) (371)
Investment in finance receivables (22) (23)
Collection of finance receivables 18 15
Investment in building and equipment (9) (10)
Change in other invested assets, net (6) 32
Net cash used in investing activities (526) (242)
Cash Flows From Financing Activities    
Payment of cash dividends to shareholders (195) (185)
Shares acquired - share repurchase authorization (28) (256)
Changes in note payable 5 83
Proceeds from stock options exercised 8 4
Contract holders' funds deposited 47 44
Contract holders' funds withdrawn (75) (83)
Other (50) (40)
Net cash used in financing activities (288) (433)
Net change in cash and cash equivalents 103 (61)
Cash and cash equivalents at beginning of year 900 767
Cash and cash equivalents at end of year 1,003 706
Supplemental Disclosures of Cash Flow Information:    
Interest Paid 26 27
Income taxes paid 113 31
Noncash Activities    
Equipment acquired under finance lease obligations 8 9
Share-based compensation 21 3
Other assets and other liabilities $ 83 $ 48