XML 69 R7.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net earnings $ 1,803 $ 2,248
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Change in receivables and advance premiums 98 (2)
Increase in deferred policy acquisition costs (152) (135)
Increase in policy liabilities 2,696 2,674
Change in income tax liabilities (43) (270)
Realized investment (gains) losses (26) (72)
Other, net 394 [1] 134
Net cash provided (used) by operating activities 4,770 4,577
Securities available for sale:    
Fixed maturities sold 1,829 1,773
Fixed maturities matured or called 705 723
Perpetual securities sold 0 60
Perpetual securities matured or called 394 0
Equity securities sold 1 0
Securities held to maturity:    
Fixed maturities matured or called 678 8,456
Costs of investments acquired:    
Available for sale fixed maturities acquired (3,919) (8,959)
Available for sale equity securities acquired (67) 0
Held to maturity fixed maturities acquired 0 (3,564)
Other investments, net (27) (3,690)
Settlement of derivatives, net (2,242) (367)
Cash received (pledged or returned) as collateral, net (1,404) 1,414
Other, net (31) 10
Net cash provided (used) by investing activities (4,083) (4,144)
Cash flows from financing activities:    
Purchases of treasury stock (1,081) (698)
Proceeds from borrowings 998 0
Principal payments under debt obligations (1,272) (335)
Dividends paid to shareholders (489) (486)
Change in investment-type contracts, net 213 1,166
Treasury stock reissued 28 25
Other, net (223) [1] 6
Net cash provided (used) by financing activities (1,826) (322)
Effect of exchange rate changes on cash and cash equivalents 1 12
Net change in cash and cash equivalents (1,138) 123
Cash and cash equivalents, beginning of period 4,658 2,543
Cash and cash equivalents, end of period 3,520 2,666
Supplemental disclosures of cash flow information:    
Income taxes paid 996 1,412
Interest paid 188 171
Noncash interest 36 66
Impairment losses included in realized investment losses [2] 143 31
Capital lease obligations incurred 2 0
Associate stock bonus    
Treasury stock issued for:    
Treasury stock issued 26 26
Shareholder dividend reinvestment    
Treasury stock issued for:    
Treasury stock issued 19 19
Share-based compensation grants    
Treasury stock issued for:    
Treasury stock issued 4 $ 4
8.50% senior notes due May 2019    
Extinguishment of debt, make-whole premium $ 230  
[1] Operating activities excludes and financing activities includes a cash outflow of $230 for the make-whole payment associated with the early extinguishment of debt
[2] Includes $6 and $0 for the three-month periods and $12 and $31 for the nine-month periods ended September 30, 2015 and 2014, respectively, from change in intent to sell securities; and $131 for the three- and nine-month periods ended September 30, 2015, for credit-related impairment