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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 earnings $ 3,304 $ 2,920 $ 4,604
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Change in receivables and advance premiums (32) (55) (91)
Capitalization of deferred policy acquisition costs (1,452) (1,504) (1,468)
Amortization of deferred policy acquisition costs 1,282 1,245 1,132
Increase in policy liabilities 2,104 2,343 2,890
Change in income tax liabilities (244) 64 (1,240)
Realized investment (gains) losses 135 430 151
Other, net 358 571 150
Net cash provided (used) by operating activities 5,455 6,014 6,128
Proceeds from investments sold or matured:      
Available-for-sale fixed maturity securities 5,284 7,888 4,680
Equity securities, FV-NI 650 429  
Equity securities, available for sale     902
Held-to-maturity fixed maturity securities 622 1,670 2,212
Commercial mortgage and other loans 1,814 936 303
Costs of investments acquired:      
Available for sale fixed maturity securities (6,934) (9,086) (9,867)
Equity securities, FV-NI (347) (440)  
Equity securities, available-for-sale     (446)
Commercial mortgage and other loans (4,401) (4,848) (2,115)
Other investments, net (653) (414) (206)
Settlement of derivatives, net (9) (241) (621)
Cash received (pledged or returned) as collateral, net 926 348 (205)
Other, net (123) 176 (68)
Net cash provided (used) by investing activities (3,171) (3,582) (5,431)
Cash flows from financing activities:      
Purchases of treasury stock (1,627) (1,301) (1,351)
Proceeds from borrowings 615 1,020 1,040
Principal payments under debt obligations 0 (550) (1,161)
Dividends paid to shareholders (771) (793) (661)
Change in investment-type contracts, net (1) (31) 35
Treasury stock reissued 49 58 33
Other, net 22 (19) 0
Net cash provided (used) by financing activities (1,713) (1,616) (2,065)
Effect of exchange rate changes on cash and cash equivalents (12) 30 0
Net change in cash and cash equivalents 559 846 (1,368)
Cash and cash equivalents, beginning of period 4,337 3,491 4,859
Cash and cash equivalents, end of period 4,896 4,337 3,491
Supplemental disclosures of cash flow information:      
Income taxes paid 1,384 998 780
Interest paid 190 181 196
Noncash interest 37 41 44
Impairment losses and loan loss reserves included in realized investment losses 31 81 37
Noncash financing activities:      
Lease obligations 132 11 12
Associate stock bonus      
Treasury stock issued for:      
Treasury stock issued 15 7 29
Shareholder dividend reinvestment      
Treasury stock issued for:      
Treasury stock issued 30 8 29
Share-based compensation grants      
Treasury stock issued for:      
Treasury stock issued $ 5 $ 2 $ 1