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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net income $ 2,023 $ 2,329
Adjustments to reconcile net income to net cash provided by operating activities:    
Net realized investment (gains) losses 211 (113)
Depreciation and amortization 639 662
Deferred federal income tax expense (benefit) (130) 61
Amortization of deferred acquisition costs 4,081 3,742
Equity in income from other investments (319) (774)
Premiums receivable (861) (462)
Reinsurance recoverables 185 20
Deferred acquisition costs (4,419) (3,955)
Claims and claim adjustment expense reserves 1,694 2,299
Unearned premium reserves 2,033 1,460
Other operating activities (12) 313
Net cash provided by operating activities 5,125 5,582
Cash flows from investing activities    
Proceeds from maturities of fixed maturities 5,481 6,523
Proceeds from sales of investments:    
Fixed maturities 3,951 2,864
Equity securities 104 74
Real estate investments 10 7
Other investments 242 275
Purchases of investments:    
Fixed maturities (12,100) (14,356)
Equity securities (112) (375)
Real estate investments (28) (22)
Other investments (414) (336)
Net sales (purchases) of short-term securities (107) 754
Securities transactions in the course of settlement 214 407
Acquisitions, net of cash acquired (4) (38)
Other investing activities (291) (199)
Net cash used in investing activities (3,054) (4,422)
Cash flows from financing activities    
Treasury stock acquired — share repurchase authorizations (1,500) (1,356)
Treasury stock acquired — net employee share-based compensation (60) (43)
Dividends paid to shareholders (656) (655)
Issuance of debt 0 739
Issuance of common stock — employee share options 205 256
Net cash used in financing activities (2,011) (1,059)
Effect of exchange rate changes on cash (48) (4)
Net increase in cash 12 97
Cash at beginning of year 761 721
Cash at end of period 773 818
Supplemental disclosure of cash flow information    
Income taxes paid 663 543
Interest paid $ 234 $ 222