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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities      
Net income $ 2,252 $ 3,189 $ 1,877
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and other non-cash items 511 483 382
Realized capital gains and losses 877 (445) 90
Gain on disposition of operations (6) (20) (5)
Interest credited to contractholder funds 654 690 726
Goodwill impairment 0 125 0
Changes in:      
Policy benefits and other insurance reserves 469 302 631
Unearned premiums 915 463 362
Deferred policy acquisition costs (296) (214) (165)
Premium installment receivables, net (396) (131) (42)
Reinsurance recoverables, net (656) (211) (264)
Income taxes (356) (245) 417
Other operating assets and liabilities 1,207 328 (16)
Net cash provided by operating activities 5,175 4,314 3,993
Proceeds from sales      
Fixed income securities 33,183 25,341 25,061
Equity securities 6,859 6,504 5,546
Limited partnership interests 764 1,125 881
Other investments 533 274 262
Investment collections      
Fixed income securities 3,466 4,194 4,533
Mortgage loans 529 600 501
Other investments 488 642 421
Investment purchases      
Fixed income securities (36,960) (31,145) (27,990)
Equity securities (5,936) (6,585) (5,950)
Limited partnership interests (1,679) (1,440) (1,450)
Mortgage loans (664) (646) (646)
Other investments (864) (999) (885)
Change in short-term investments, net (505) 2,610 (2,446)
Change in other investments, net (98) (30) (51)
Purchases of property and equipment, net (277) (299) (313)
Acquisition of operations (558) (1,356) 0
Net cash used in investing activities (1,719) (1,210) (2,526)
Cash flows from financing activities      
Proceeds from issuance of long-term debt 498 0 1,236
Redemption and repayment of long-term debt (400) 0 (17)
Proceeds from issuance of preferred stock 557 0 0
Redemption of preferred stock (385) 0 0
Contractholder fund deposits 1,010 1,025 1,049
Contractholder fund withdrawals (1,967) (1,890) (2,087)
Dividends paid on common stock (614) (525) (486)
Dividends paid on preferred stock (134) (116) (116)
Treasury stock purchases (2,303) (1,495) (1,337)
Shares reissued under equity incentive plans, net 73 135 164
Excess tax benefits on share-based payment arrangements 0 0 32
Other 91 (57) 36
Net cash used in financing activities (3,574) (2,923) (1,526)
Net (decrease) increase in cash (118) 181 (59)
Cash at beginning of year 617 436 495
Cash at end of year $ 499 $ 617 $ 436