XML 18 R7.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net income $ 1,387 $ 1,749
Adjustments to reconcile net income to net cash provided by operating activities:    
Net realized investment (gains) losses 48 (101)
Depreciation and amortization 577 581
Deferred federal income tax benefit (67) (10)
Amortization of deferred acquisition costs 3,558 3,420
Equity in (income) loss from other investments 32 (196)
Premiums receivable (324) (611)
Reinsurance recoverables (150) 212
Deferred acquisition costs (3,694) (3,619)
Claims and claim adjustment expense reserves 2,673 927
Unearned premium reserves 960 1,350
Other operating activities (382) 91
Net cash provided by operating activities 4,618 3,793
Cash flows from investing activities    
Proceeds from maturities of fixed maturities 5,241 4,895
Proceeds from sales of investments:    
Fixed maturities 1,994 1,801
Equity securities 76 99
Other investments 184 346
Purchases of investments:    
Fixed maturities (9,951) (8,234)
Equity securities (80) (62)
Real estate investments (33) (95)
Other investments (321) (369)
Net purchases of short-term securities (1,387) (617)
Securities transactions in course of settlement 522 432
Other investing activities (222) (243)
Net cash used in investing activities (3,977) (2,047)
Cash flows from financing activities    
Treasury stock acquired — share repurchase authorization (425) (1,125)
Treasury stock acquired — net employee share-based compensation (46) (47)
Dividends paid to shareholders (643) (633)
Payment of debt 0 (500)
Issuance of debt 490 492
Issuance of common stock — employee share options 72 206
Net cash used in financing activities (552) (1,607)
Effect of exchange rate changes on cash 0 (4)
Net increase in cash 89 135
Cash at beginning of year 494 373
Cash at end of period 583 508
Supplemental disclosure of cash flow information    
Income taxes paid 413 367
Interest paid $ 226 $ 231