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Consolidated Statements Of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net income (loss) $ (1,319) $ 53 $ 634
Adjustments to reconcile net income (loss) to net cash used by operating activities:      
Accrued investment income 34 1 102
Premiums receivable 209 259 349
Deferred acquisition costs 61 61 100
Unearned premium revenue (624) (635) (906)
Prepaid reinsurance premiums 8 75 180
Reinsurance premiums payable (8) (39) (191)
Loss and loss adjustment expense reserves (293) (81) 196
Reinsurance recoverable on paid and unpaid losses (1) (11) 115
Insurance loss recoverable (514) (769) (1,987)
Payable to reinsurers on recoveries 8 (71) 126
Accrued interest payable (11) 1 (3)
Accounts receivable 7 5 41
Accrued expenses 16 11 (109)
Deferred fee revenue (2) (1) (34)
Current income taxes 86 501 (292)
Amortization of bond (premiums) discounts, net (8) (23) (59)
Depreciation 7 8 9
Amortization of medium-term notes (premiums) discounts, net (11) (5) (16)
Net investment losses related to other-than-temporary impairments 101 64 467
Realized (gains) losses and other settlements on insured derivatives   (607)  
Unrealized (gains) losses on insured derivatives 441 607 (1,650)
Net (gains) losses on financial instruments at fair value and foreign exchange 46 (430) (221)
Other net realized (gains) losses (235) 47 101
Deferred income tax benefit (935) (221) 1,091
(Gains) losses on extinguishment of debt (26) (60) (269)
Share-based compensation 13 2 6
Other operating (26) 2 28
Total adjustments to net income (loss) (1,657) (1,309) (2,826)
Net cash provided (used) by operating activities (2,976) (1,256) (2,192)
Cash flows from investing activities:      
Purchase of fixed-maturity securities (7,744) (9,967) (10,422)
Sale and redemption of fixed-maturity securities 11,321 11,896 12,677
Decrease in loans receivable 291 860  
Purchase of held-to-maturity investments   (157) (251)
Redemptions of held-to-maturity investments 196 756 750
Sale (purchase) of short-term investments, net 680 662 2,011
Sale (purchase) of other investments, net 73 53 217
Purchase of controlling interest in an affiliate, net of cash received   (27)  
Consolidation/deconsolidation of variable interest entities, net (432) 754  
(Payments) proceeds for derivative settlements (85) 17  
Collateral (to) from swap counterparty   166  
Capital expenditures (5) (5) (6)
Disposals of capital assets   3  
Net cash provided (used) by investing activities 4,295 5,011 4,976
Cash flows from financing activities:      
Proceeds from issuance of investment agreements 108 97 148
Payments for drawdowns of investment agreements (524) (767) (2,047)
Issuance of medium-term notes 24 25 176
Principal paydown of medium-term notes (137) (507) (2,345)
Principal paydown of variable interest entity notes (1,100) (1,793) (128)
Securities sold under agreements to repurchase (184) (31) (317)
Dividends paid   (1) (10)
Net proceeds from issuance of debt 105   279
Payments for retirement of debt (65) (393) (55)
Proceeds from bank loans     88
(Payments) proceeds for derivative settlements     46
Purchase of treasury stock (50) (31) (16)
Contribution from noncontrolling interest and redemption of subsidiary preferred stock, net 9 (29) (11)
Restricted stock awards settlements (2) 2 2
Collateral from reverse repurchase agreement counterparties     30
Collateral (to) from swap counterparty     (101)
Net cash provided (used) by financing activities (1,816) (3,428) (4,261)
Net increase (decrease) in cash and cash equivalents (497) 327 (1,477)
Cash and cash equivalents - beginning of period 1,130 803 2,280
Cash and cash equivalents - end of period 633 1,130 803
Supplemental cash flow disclosures:      
Income taxes refunded (74) (414) (209)
Interest paid:      
Investment agreements 33 92 133
Medium-term notes 36 64 96
Variable interest entity notes 273 290 105
Securities sold under agreements to repurchase 1 2 72
Other borrowings and deposits 4 7 8
Long-term debt 193 199 204
Noncash items:      
Share-based compensation 13 2 6
Dividends declared but not paid     $ 1