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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities      
Net income $ 1,000 $ 813 $ 899
Adjustments to reconcile net income to net cash flows provided by operating activities:      
Deferred Income Tax Expense (Benefit) (46) (20) 168
Trading portfolio activity (16) 0 9
Net investment (gains) losses (29) 52 (93)
Equity method investees 11 330 84
Net amortization of investments (89) (70) (40)
Depreciation and amortization 68 79 88
Changes in:      
Receivables, net 137 (229) 92
Accrued investment income (3) 19 (4)
Deferred acquisition costs (26) (6) (24)
Insurance reserves 358 482 22
Other, net (225) (223) 53
Net cash flows provided by operating activities 1,140 1,227 1,254
Dispositions:      
Fixed maturity securities - sales 5,842 8,408 5,438
Fixed maturity securities - maturities, calls and redemptions 2,997 2,370 3,641
Equity securities 214 89 46
Limited partnerships 479 343 192
Mortgage loans 143 128 26
Purchases:      
Fixed maturity securities (8,661) (10,785) (9,065)
Equity securities (186) (258) (166)
Limited partnerships (198) (419) (171)
Mortgage loans (298) (128) (274)
Change in other investments (11) (12) (3)
Change in short term investments (535) 168 (6)
Purchases of property and equipment (26) (99) (102)
Other, net 15 18 20
Net cash flows used by investing activities (225) (177) (424)
Cash Flows from Financing Activities      
Dividends paid to common stockholders (929) (896) (842)
Proceeds from the issuance of debt 496 0 496
Repayment of debt (520) (180) (391)
Purchase of treasury stock (23) 0 0
Other, net (12) (9) (18)
Net cash flows used by financing activities (988) (1,085) (755)
Effect of foreign exchange rate changes on cash 5 (10) 9
Net change in cash (68) (45) 84
Cash, beginning of year 310 355 271
Cash, end of period $ 242 $ 310 $ 355