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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash Flows from Operating Activities    
Net Income $ 1,017 $ 1,115
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 310 302
Realized investment (gains) losses (35) (94)
Deferred income taxes (17) (8)
Net changes in assets and liabilities, net of non-operating effects:    
Premiums, accounts and notes receivable (520) (1,007)
Reinsurance recoverables (4) (53)
Deferred policy acquisition costs (123) (112)
Other assets (83) 41
Insurance liabilities 607 542
Accounts payable, accrued expenses and other liabilities (58) 216
Current income taxes 54 117
Loss on extinguishment of debt 0 100
Other, net [1] 48 24
Net cash provided by (used in) operating activities [1] 1,196 1,183
Proceeds from investments sold:    
Fixed maturities and equity securities 712 1,177
Investment maturities and repayments:    
Fixed maturities and equity securities 738 691
Commercial mortgage loans 69 341
Other sales, maturities and repayments (primarily short-term and other long-term investments) 356 714
Investments purchased or originated:    
Fixed maturities and equity securities (1,701) (1,813)
Commercial mortgage loans (16) (312)
Other (primarily short-term and other long-term investments) (401) (541)
Property and equipment purchases (254) (246)
Acquisitions, net of cash acquired (4) (107)
Net cash provided by (used in) investing activities (501) (96)
Cash Flows from Financing Activities    
Deposits and interest credited to contractholder deposit funds 779 769
Withdrawals and benefit payments from contractholder deposit funds (703) (733)
Net change in short-term debt (111) (10)
Net proceeds on issuance of long-term debt 0 894
Repayment of long-term debt 0 (938)
Repurchase of common stock (139) (536)
Issuance of common stock 14 128
Other, net [1] (63) (94)
Net cash provided by (used in) financing activities [1] (223) (520)
Effect of foreign currency rate changes on cash and cash equivalents 14 (18)
Net increase (decrease) in cash and cash equivalents 486 549
Cash and cash equivalents, January 1 1,968 1,420
Cash and cash equivalents, June 30 2,454 1,969
Supplemental Disclosure of Cash Information:    
Income taxes paid, net of refunds 579 519
Interest paid $ 122 $ 122
[1] As required by the adoption of ASU 2016-09, the Company retrospectively reclassified $74 million of cash payments from operating to financing activities for the six months ended June 30, 2015. These payments were related to employee tax obligations associated with stock compensation. The comparable amount reported in financing activities for the six months ended June 30, 2016 was $68 million. See Note 2 for further discussion.