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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities    
Net income $ 246 $ 677
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other non-cash items 91 87
Realized capital gains and losses 149 (139)
(Gain) loss on disposition of operations (2) 1
Interest credited to contractholder funds 190 199
Changes in:    
Policy benefits and other insurance reserves 459 115
Unearned premiums (205) (117)
Deferred policy acquisition costs (7) (35)
Premium installment receivables, net 11 (66)
Reinsurance recoverables, net (40) (24)
Income taxes (26) 59
Other operating assets and liabilities (152) (191)
Net cash provided by operating activities 714 566
Proceeds from sales    
Fixed income securities 6,216 9,453
Equity securities 1,664 1,152
Limited partnership interests 180 296
Other investments 94 47
Investment collections    
Fixed income securities 949 1,213
Mortgage loans 79 114
Other investments 43 60
Investment purchases    
Fixed income securities (5,401) (9,210)
Equity securities (1,733) (1,172)
Limited partnership interests (270) (365)
Mortgage loans (44) (202)
Other investments (253) (193)
Change in short-term investments, net (1,357) (63)
Change in other investments, net (19) 2
Purchases of property and equipment, net (52) (59)
Net cash provided by investing activities 96 1,073
Cash flows from financing activities    
Repayments of long-term debt (16) 0
Contractholder fund deposits 261 261
Contractholder fund withdrawals (492) (572)
Dividends paid on common stock (115) (118)
Dividends paid on preferred stock (29) (29)
Treasury stock purchases (456) (1,010)
Shares reissued under equity incentive plans, net 30 64
Excess tax benefits on share-based payment arrangements 12 26
Other 31 (2)
Net cash used in financing activities (774) (1,380)
Net increase in cash 36 259
Cash at beginning of period 495 657
Cash at end of period $ 531 $ 916