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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities    
Net income $ 2,071 $ 2,573
Adjustments to reconcile net income to net cash provided by operating activities:    
Net realized investment gains [1] (33) (35)
Depreciation and amortization 624 620
Deferred federal income tax expense 29 105
Amortization of deferred acquisition costs 2,972 2,913
Equity in income from other investments (114) (214)
Premiums receivable (340) (300)
Reinsurance recoverables 248 247
Deferred acquisition costs (3,096) (2,998)
Claims and claim adjustment expense reserves (139) (874)
Unearned premium reserves 725 542
Other operating activities 116 95
Net cash provided by operating activities 3,063 2,674
Cash flows from investing activities    
Proceeds from maturities of fixed maturities 6,648 8,805
Proceeds from sales of investments:    
Fixed maturities 865 1,555
Equity securities 71 38
Real estate investments 69 15
Other investments 569 505
Purchases of investments:    
Fixed maturities (9,004) (9,972)
Equity securities (36) (31)
Real estate investments (30) (116)
Other investments (422) (389)
Net purchases of short-term securities (135) (782)
Securities transactions in course of settlement 511 103
Other investing activities (240) (222)
Net cash used in investing activities (1,134) (491)
Cash flows from financing activities    
Treasury stock acquired - share repurchase authorization (1,650) (2,150)
Treasury stock acquired - net employee share-based compensation (71) (73)
Dividends paid to shareholders (569) (557)
Payment of debt (400)  
Issuance of debt 491 392
Issuance of common stock - employee share options 164 142
Excess tax benefits from share-based payment arrangements   42
Net cash used in financing activities (2,035) (2,204)
Effect of exchange rate changes on cash (5) (9)
Net decrease in cash (111) (30)
Cash at beginning of year 380 374
Cash at end of period 269 344
Supplemental disclosure of cash flow information    
Income taxes paid 648 882
Interest paid $ 223 $ 217
[1] Total other-than-temporary impairment (OTTI) losses were $(4) million and $(14) million for the three months ended September 30, 2016 and 2015, respectively, and $(36) million and $(26) million for the nine months ended September 30, 2016 and 2015, respectively. Of total OTTI, credit losses of $(4) million and $(14) million for the three months ended September 30, 2016 and 2015, respectively, and $(26) million and $(23) million for the nine months ended September 30, 2016 and 2015, respectively, were recognized in net realized investment gains. In addition, unrealized gains (losses) from other changes in total OTTI of $0 million for both of the three months ended September 30, 2016 and 2015, and $(10) million and $(3) million for the nine months ended September 30, 2016 and 2015, 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.