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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities      
Net income $ 2,171 $ 2,850 $ 2,280
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and other non-cash items 371 366 368
Realized capital gains and losses (30) (694) (594)
Loss on extinguishment of debt 0 1 491
(Gain) loss on disposition of operations (3) 74 688
Interest credited to contractholder funds 761 919 1,278
Changes in:      
Policy benefits and other insurance reserves 473 541 (55)
Unearned premiums 638 766 602
Deferred policy acquisition costs (239) (220) (268)
Premium installment receivables, net (134) (257) (205)
Reinsurance recoverables, net (178) (1,068) (729)
Income taxes (119) 205 573
Other operating assets and liabilities (95) (247) (187)
Net cash provided by operating activities 3,616 3,236 4,242
Proceeds from sales      
Fixed income securities 28,693 34,609 21,243
Equity securities 3,754 6,755 3,173
Limited partnership interests 1,101 1,473 1,045
Mortgage loans 6 10 24
Other investments 545 406 151
Investment collections      
Fixed income securities 4,432 3,736 5,908
Mortgage loans 538 1,106 1,020
Other investments 293 191 275
Investment purchases      
Fixed income securities (30,758) (38,759) (24,087)
Equity securities (4,960) (5,443) (3,677)
Limited partnership interests (1,343) (1,398) (1,312)
Mortgage loans (687) (501) (538)
Other investments (902) (972) (1,084)
Change in short-term investments, net 385 272 (427)
Change in other investments, net (52) 46 97
Purchases of property and equipment, net (303) (288) (207)
Disposition (acquisition) of operations 0 378 (24)
Net cash provided by investing activities $ 742 1,621 1,580
Cash flows from financing activities      
Proceeds from issuance of long-term debt 0 2,271
Repayments of long-term debt $ (20) (1,006) (2,627)
Proceeds from issuance of preferred stock 0 965 781
Contractholder fund deposits 1,052 1,184 2,174
Contractholder fund withdrawals (2,327) (3,446) (6,556)
Dividends paid on common stock (483) (477) (352)
Dividends paid on preferred stock (116) (87) (6)
Treasury stock purchases (2,808) (2,301) (1,834)
Shares reissued under equity incentive plans, net 130 266 170
Excess tax benefits on share-based payment arrangements 45 41 38
Other 7 (14) (12)
Net cash used in financing activities (4,520) (4,875) (5,953)
Net decrease in cash (162) (18) (131)
Cash at beginning of year 657 675 806
Cash at end of year $ 495 $ 657 $ 675