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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows From Operating Activities      
Net Income $ 2,946 $ 1,216 $ 1,997
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 93 81 72
Investment gains and losses, net (2,353) (851) (1,640)
Share-based compensation 33 31 30
Interest credited to contract holders 45 43 44
Deferred income tax expense 477 136 343
Changes in:      
Investment income receivable (8) (3) (1)
Premiums and reinsurance receivable (240) (23) (174)
Deferred policy acquisition costs (73) (39) (61)
Other assets (11) (26) (22)
Loss and loss expense reserves 559 599 163
Life policy and investment contract reserves 99 116 107
Unearned premiums 311 172 184
Other liabilities 128 (5) 74
Current income tax receivable/payable (25) 44 92
Net cash provided by operating activities 1,981 1,491 1,208
Cash Flows From Investing Activities      
Sale of fixed maturities 118 179 102
Call or maturity of fixed maturities 1,343 912 1,241
Sale of equity securities 136 515 203
Purchase of fixed maturities (2,388) (1,382) (1,742)
Purchase of equity securities (313) (699) (382)
Investment in finance receivables (39) (50) (34)
Collection of finance receivables 37 35 29
Investment in buildings and equipment (15) (20) (24)
Change in other invested assets, net 64 (50) (72)
Net cash used in investing activities (1,057) (560) (679)
Cash Flows From Financing Activities      
Payment of cash dividends to shareholders (395) (375) (355)
Shares acquired - share repurchase authorization (144) (261) (67)
Changes in note payable 0 15 7
Proceeds from stock options exercised 13 7 11
Contract holders' funds deposited 85 85 86
Contract holders' funds withdrawn (146) (159) (174)
Other (98) (110) (54)
Net cash used in financing activities (685) (798) (546)
Net change in cash and cash equivalents 239 133 (17)
Cash and cash equivalents at beginning of year 900 767 784
Cash and cash equivalents at end of year 1,139 900 767
Supplemental Disclosures of Cash Flow Information      
Interest paid 52 53 53
Income taxes paid 257 84 34
Noncash Activities      
Equipment acquired under finance lease obligations 12 19 14
Share-based compensation 26 19 9
Other assets and other liabilities $ 87 $ 57 $ 29