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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities    
Net income $ 975 $ 695
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other non-cash items 122 119
Realized capital gains and losses 134 (134)
Gain on disposition of operations (1) (2)
Interest credited to contractholder funds 161 173
Changes in:    
Policy benefits and other insurance reserves (364) 183
Unearned premiums (204) (248)
Deferred policy acquisition costs 10 14
Premium installment receivables, net (58) (19)
Reinsurance recoverables, net (12) 11
Income taxes 181 284
Other operating assets and liabilities (318) (219)
Net cash provided by operating activities 626 857
Proceeds from sales    
Fixed income securities 10,619 7,083
Equity securities 1,138 2,601
Limited partnership interests 53 210
Other investments 76 24
Investment collections    
Fixed income securities 583 1,029
Mortgage loans 46 223
Other investments 122 174
Investment purchases    
Fixed income securities (9,789) (8,800)
Equity securities (1,535) (2,383)
Limited partnership interests (415) (268)
Mortgage loans (192) (86)
Other investments (330) (219)
Change in short-term investments, net (1,533) 1,572
Change in other investments, net (27) (10)
Purchases of property and equipment, net (62) (74)
Acquisition of operations (5) (1,356)
Net cash used in investing activities (1,251) (280)
Cash flows from financing activities    
Proceeds from issuance of long-term debt 498 0
Proceeds from issuance of preferred stock 558 0
Contractholder fund deposits 253 257
Contractholder fund withdrawals (492) (483)
Dividends paid on common stock (132) (122)
Dividends paid on preferred stock (29) (29)
Treasury stock purchases (270) (264)
Shares reissued under equity incentive plans, net 10 67
Other 62 3
Net cash provided by (used in) financing activities 458 (571)
Net (decrease) increase in cash (167) 6
Cash at beginning of period 617 436
Cash at end of period $ 450 $ 442