XML 72 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net earnings $ 732 $ 892
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Change in receivables and advance premiums 171 203
Increase in deferred policy acquisition costs (26) (100)
Increase in policy liabilities 978 2,400
Change in income tax liabilities (320) 193
Realized investment (gains) losses 46 (156)
Other, net 34 400
Net cash provided (used) by operating activities 1,615 3,832
Securities available for sale:    
Fixed maturities sold 677 541
Fixed maturities matured or called 222 1,342
Perpetual securities matured or called 0 271
Securities held to maturity:    
Fixed maturities matured or called 4,450 5,011
Costs of investments acquired:    
Available for sale fixed maturities acquired (4,597) (3,160)
Held to maturity fixed maturities acquired 0 (160)
Settlement of derivatives, net (320) (851)
Cash received as collateral, net (2,677) (6,070)
Other, net 122 (9)
Net cash provided (used) by investing activities (2,123) (3,085)
Cash flows from financing activities:    
Purchases of treasury stock (421) (156)
Proceeds from borrowings 0 0
Principal payments under debt obligations 0 0
Dividends paid to shareholders (163) (159)
Change in investment-type contracts, net 536 134
Treasury stock reissued 16 19
Other, net 0 6
Net cash provided (used) by financing activities (32) (156)
Effect of exchange rate changes on cash and cash equivalents (9) (36)
Net change in cash and cash equivalents (549) 555
Cash and cash equivalents, beginning of period 2,543 2,041
Cash and cash equivalents, end of period 1,994 2,596
Supplemental disclosures of cash flow information:    
Income taxes paid 699 295
Interest paid 51 43
Noncash interest 30 [1] 28 [1]
Impairment losses included in realized investment losses 3 [2] 55 [2]
Noncash financing activities:    
Capitalized lease obligations 0 (1)
Associate stock bonus
   
Treasury stock issued for:    
Treasury stock issued 7 8
Shareholder dividend reinvestment
   
Treasury stock issued for:    
Treasury stock issued 7 6
Share-based compensation grants
   
Treasury stock issued for:    
Treasury stock issued $ 4 $ 4
[1] Consists primarily of accreted interest on discounted advance premiums
[2] Includes $0 and $1 for the three-month periods ended March 31, 2014 and 2013, respectively, for impairments due to severity and duration of decline in fair value and $3 and $54 for the three-month periods ended March 31, 2014 and 2013, respectively, from change in intent to sell securities