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Consolidated Statement 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 $ 1,426 $ 3,216 $ 3,622
Adjustments to reconcile net income to net cash provided by operating activities:      
Net realized investment gains (55) (264) (17)
Depreciation and amortization 802 812 797
Deferred federal income tax expense 63 178 213
Amortization of deferred acquisition costs 3,876 3,802 3,813
Equity in (income) loss from other investments (281) (283) 126
Change in premiums receivable (237) (29) 364
Change in reinsurance recoverables 807 1,300 1,416
Change in deferred acquisition costs (3,881) (3,826) (3,797)
Change in claims and claim adjustment expense reserves (152) (1,968) (1,596)
Change in unearned premium reserves 188 63 (96)
Other operating activities (387) 53 (614)
Net cash provided by operating activities 2,169 3,054 4,231
Cash flows from investing activities      
Proceeds from maturities of fixed maturities 7,404 5,896 5,316
Proceeds from sales of investments, fixed maturities 1,161 3,713 2,805
Proceeds from sales of investments, equity securities 135 201 65
Proceeds from sales of investments, real estate 1 10  
Proceeds from sales of investments, other investments 594 717 511
Purchases of investments, fixed maturities (8,704) (6,785) (9,647)
Purchases of investments, equity securities (131) (61) (24)
Purchases of investments, real estate (66) (21) (15)
Purchases of investments, other investments (889) (514) (349)
Net sales (purchases) of short-term securities 2,018 (699) 370
Securities transactions in course of settlement   (30) 395
Other investing activities (371) (318) (326)
Net cash provided by (used in) investing activities 1,152 2,109 (899)
Cash flows from financing activities      
Payment of debt (8) (1,160) (143)
Issuance of debt   1,234 494
Dividends paid to shareholders (665) (673) (693)
Issuance of common stock - employee share options 314 408 180
Treasury stock acquired - share repurchase authorization (2,919) (4,998) (3,259)
Treasury stock acquired - net employee share-based compensation (46) (40) (29)
Excess tax benefits from share-based payment arrangements 18 8 8
Net cash used in financing activities (3,306) (5,221) (3,442)
Effect of exchange rate changes on cash (1) 3 15
Net increase (decrease) in cash 14 (55) (95)
Cash at beginning of year 200 255 350
Cash at end of year 214 200 255
Supplemental disclosure of cash flow information      
Income taxes paid 218 784 876
Interest paid $ 382 $ 397 $ 385