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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities    
Net income $ 2,573 $ 2,654
Adjustments to reconcile net income to net cash provided by operating activities:    
Net realized investment gains [1] (35) (57)
Depreciation and amortization 620 653
Deferred federal income tax expense 105 93
Amortization of deferred acquisition costs 2,913 2,899
Equity in income from other investments (214) (412)
Premiums receivable (300) (334)
Reinsurance recoverables 247 403
Deferred acquisition costs (2,998) (2,993)
Claims and claim adjustment expense reserves (874) (298)
Unearned premium reserves 542 379
Other operating activities 95 181
Net cash provided by operating activities 2,674 3,168
Cash flows from investing activities    
Proceeds from maturities of fixed maturities 8,805 7,975
Proceeds from sales of investments:    
Fixed maturities 1,555 927
Equity securities 38 128
Real estate investments 15 5
Other investments 505 612
Purchases of investments:    
Fixed maturities (9,972) (8,237)
Equity securities (31) (47)
Real estate investments (116) (41)
Other investments (389) (406)
Net purchases of short-term securities (782) (1,163)
Securities transactions in course of settlement 103 119
Acquisition, net of cash acquired   (12)
Other investing activities (222) (262)
Net cash used in investing activities (491) (402)
Cash flows from financing activities    
Issuance of debt 392  
Treasury stock acquired - share repurchase authorization (2,150) (2,275)
Treasury stock acquired - net employee share-based compensation (73) (56)
Dividends paid to shareholders (557) (549)
Issuance of common stock - employee share options 142 154
Excess tax benefits from share-based payment arrangements 42 38
Net cash used in financing activities (2,204) (2,688)
Effect of exchange rate changes on cash (9) (5)
Net increase (decrease) in cash (30) 73
Cash at beginning of year 374 294
Cash at end of period 344 367
Supplemental disclosure of cash flow information    
Income taxes paid 882 785
Interest paid $ 217 $ 217
[1] Total other-than-temporary impairment (OTTI) losses were $(14) million and $(8) million for the three months ended September 30, 2015 and 2014, respectively, and $(26) million and $(16) million for the nine months ended September 30, 2015 and 2014, respectively. Of total OTTI, credit losses of $(14) million and $(10) million for the three months ended September 30, 2015 and 2014, respectively, and $(23) million and $(20) million for the nine months ended September 30, 2015 and 2014, respectively, were recognized in net realized investment gains. In addition, unrealized gains (losses) from other changes in total OTTI of $0 million and $2 million for the three months ended September 30, 2015 and 2014, respectively, and $(3) million and $4 million for the nine months ended September 30, 2015 and 2014, respectively, were recognized in other comprehensive income (loss) as part of changes in net unrealized gains on investment securities having credit losses recognized in the consolidated statement of income.