XML 35 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities      
Net income $ 3,189 $ 1,877 $ 2,171
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and other non-cash items 483 382 371
Realized capital gains and losses (445) 90 (30)
Gain on disposition of operations (20) (5) (3)
Interest credited to contractholder funds 690 726 761
Goodwill impairment 125 0 0
Changes in:      
Policy benefits and other insurance reserves 302 631 473
Unearned premiums 463 362 638
Deferred policy acquisition costs (214) (165) (239)
Premium installment receivables, net (131) (42) (134)
Reinsurance recoverables, net (211) (264) (178)
Income taxes (245) 417 (119)
Other operating assets and liabilities 328 (16) (95)
Net cash provided by operating activities 4,314 3,993 3,616
Proceeds from sales      
Fixed income securities 25,341 25,061 28,693
Equity securities 6,504 5,546 3,754
Limited partnership interests 1,125 881 1,101
Mortgage loans 0 0 6
Other investments 274 262 545
Investment collections      
Fixed income securities 4,194 4,533 4,432
Mortgage loans 600 501 538
Other investments 642 421 293
Investment purchases      
Fixed income securities (31,145) (27,990) (30,758)
Equity securities (6,585) (5,950) (4,960)
Limited partnership interests (1,440) (1,450) (1,343)
Mortgage loans (646) (646) (687)
Other investments (999) (885) (902)
Change in short-term investments, net 2,610 (2,446) 385
Change in other investments, net (30) (51) (52)
Purchases of property and equipment, net (299) (313) (303)
Acquisition of operations (1,356) 0 0
Net cash (used in) provided by investing activities (1,210) (2,526) 742
Cash flows from financing activities      
Proceeds from issuance of long-term debt 0 1,236 0
Repayments of long-term debt 0 (17) (20)
Contractholder fund deposits 1,025 1,049 1,052
Contractholder fund withdrawals (1,890) (2,087) (2,327)
Dividends paid on common stock (525) (486) (483)
Dividends paid on preferred stock (116) (116) (116)
Treasury stock purchases (1,495) (1,337) (2,808)
Shares reissued under equity incentive plans, net 135 164 130
Excess tax benefits on share-based payment arrangements 0 32 45
Other (57) 36 7
Net cash used in financing activities (2,923) (1,526) (4,520)
Net increase (decrease) in cash 181 (59) (162)
Cash at beginning of year 436 495 657
Cash at end of year $ 617 $ 436 $ 495