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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net earnings $ 4,778 $ 3,304 $ 2,920
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Change in receivables and advance premiums 52 (32) (55)
Capitalization of deferred policy acquisition costs (1,142) (1,452) (1,504)
Amortization of deferred policy acquisition costs 1,214 1,282 1,245
Increase in policy liabilities 2,023 2,104 2,343
Change in income tax liabilities (1,419) (244) 64
Net investment (gains) losses 270 135 430
Other, net 182 358 571
Net cash provided (used) by operating activities 5,958 5,455 6,014
Proceeds from investments sold or matured:      
Available-for-sale fixed maturity securities 3,725 5,284 7,888
Equity securities 234 650 429
Held-to-maturity fixed maturity securities 4 622 1,670
Commercial mortgage and other loans 2,085 1,814 936
Costs of investments acquired:      
Available for sale fixed maturity securities (4,772) (6,934) (9,086)
Equity securities (498) (347) (440)
Commercial mortgage and other loans (3,263) (4,401) (4,848)
Other investments, net (860) (653) (414)
Settlement of derivatives, net 18 (9) (241)
Cash received (pledged or returned) as collateral, net (1,027) 926 348
Other, net (265) (123) 176
Net cash provided (used) by investing activities (4,619) (3,171) (3,582)
Cash flows from financing activities:      
Purchases of treasury stock (1,537) (1,627) (1,301)
Proceeds from borrowings 1,545 615 1,020
Principal payments under debt obligations (350) 0 (550)
Dividends paid to shareholders (769) (771) (793)
Change in investment-type contracts, net (11) (1) (31)
Treasury stock reissued 34 49 58
Other, net (27) 22 (19)
Net cash provided (used) by financing activities (1,115) (1,713) (1,616)
Effect of exchange rate changes on cash and cash equivalents 21 (12) 30
Net change in cash and cash equivalents 245 559 846
Cash and cash equivalents, beginning of period 4,896 4,337 3,491
Cash and cash equivalents, end of period 5,141 4,896 4,337
Supplemental disclosures of cash flow information:      
Income taxes paid 800 1,384 998
Interest paid 210 190 181
Noncash interest 32 37 41
Noncash financing activities:      
Lease obligations 56 132 11
Associate stock bonus      
Treasury stock issued for:      
Treasury stock issued 19 15 7
Shareholder dividend reinvestment      
Treasury stock issued for:      
Treasury stock issued 29 30 8
Share-based compensation grants      
Treasury stock issued for:      
Treasury stock issued $ 6 $ 5 $ 2