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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows From Operating Activities    
Net Income $ 1,476 $ 167
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 69 62
Investment gains and losses, net (933) 137
Share-based compensation 25 24
Interest credited to contract holders 33 33
Deferred income tax expense 182 (65)
Changes in:    
Investment income receivable (6) 2
Premiums and reinsurance receivable (280) (93)
Deferred policy acquisition costs (84) (46)
Other assets (12) (25)
Loss and loss expense reserves 546 600
Life policy and investment contract reserves 76 94
Unearned premiums 382 236
Other liabilities 95 (34)
Current income tax receivable/payable (51) 27
Net cash provided by operating activities 1,518 1,119
Cash Flows From Investing Activities    
Sale of fixed maturities 88 100
Call or maturity of fixed maturities 1,049 756
Sale of equity securities 123 471
Purchase of fixed maturities (1,831) (1,092)
Purchase of equity securities (276) (640)
Investment in finance receivables (30) (33)
Collection of finance receivables 28 26
Investment in building and equipment (12) (16)
Change in other invested assets, net (30) 16
Net cash used in investing activities (891) (412)
Cash Flows From Financing Activities    
Payment of cash dividends to shareholders (295) (280)
Shares acquired - share repurchase authorization (40) (256)
Changes in note payable 5 84
Proceeds from stock options exercised 10 5
Contract holders' funds deposited 64 64
Contract holders' funds withdrawn (104) (123)
Other (82) (54)
Net cash used in financing activities (442) (560)
Net change in cash and cash equivalents 185 147
Cash and cash equivalents at beginning of year 900 767
Cash and cash equivalents at end of year 1,085 914
Supplemental Disclosures of Cash Flow Information:    
Interest Paid 26 27
Income taxes paid 205 42
Noncash Activities    
Equipment acquired under finance lease obligations 9 13
Share-based compensation 22 3
Other assets and other liabilities $ 137 $ 63