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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities      
Net Income $ 1,314.2 $ 824.2 $ 793.0
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities      
Change in Receivables 566.0 678.0 242.9
Deferral of Acquisition Costs 34.1 78.0 29.9
Change in Insurance Reserves and Liabilities (282.0) 74.2 1,481.8
Change in Income Taxes (58.8) 295.3 (31.3)
Change in Other Accrued Liabilities (113.9) 11.3 160.1
Non-cash Components of Net Investment Income (247.0) (254.7) (120.5)
Net Investment (Gain) Loss 15.7 (76.7) (1,199.1)
Depreciation 110.5 119.8 113.6
Cash Related to Reinsurance Transaction 0.0 (456.8) (1,087.2)
Amortization of the Cost of Reinsurance 63.8 79.1 2.6
Other, Net 16.1 15.8 83.5
Net Cash Provided by Operating Activities 1,418.7 1,387.5 469.3
Cash Flows from Investing Activities      
Proceeds from Sales of Fixed Maturity Securities 559.5 442.5 990.8
Proceeds from Maturities of Fixed Maturity Securities 1,532.5 2,611.4 2,052.4
Proceeds from Sales and Maturities of Other Investments 445.9 403.1 237.0
Purchase of Fixed Maturity Securities (2,835.3) (4,106.3) (3,169.6)
Purchase of Other Investments (482.9) (606.8) (440.6)
Net Sales (Purchases) of Short-term Investments (22.6) 76.5 (133.1)
Net Increase (Decrease) in Payables for Collateral on Investments (50.8) (50.7) 314.5
Net Purchases of Property and Equipment (102.2) (110.3) (119.1)
Net Cash Used by Investing Activities (955.9) (1,340.6) (267.7)
Cash Flows from Financing Activities      
Short-term Debt Repayment 0.0 0.0 (400.0)
Issuance of Long-term Debt 349.2 588.1 494.1
Long-term Debt Repayment (364.0) (500.0) (80.0)
Cost Related to Early Retirement of Debt 3.6 62.8 0.0
Issuance of Common Stock 4.0 3.4 4.4
Repurchase of Common Stock (200.1) (50.0) 0.0
Dividends Paid to Stockholders (254.2) (239.4) (231.9)
Proceeds from Policyholder Account Deposits 119.8 128.1 138.4
Payments for Policyholder Account Withdrawals (72.0) (80.7) (74.3)
Cash Received Related to Active Life Volatility Cover Agreement 5.2 40.4 62.1
Other, Net (2.9) 4.0 (1.5)
Net Cash Used by Financing Activities (418.6) (168.9) (88.7)
Net Increase (Decrease) in Cash and Bank Deposits 44.2 (122.0) 112.9
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning Balance 75.0 197.0 84.1
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance $ 119.2 $ 75.0 $ 197.0