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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities      
Net income $ 4,847 $ 2,160 $ 3,554
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and other non-cash items 647 511 483
Realized capital gains and losses (1,885) 877 (445)
Pension and other postretirement remeasurement gains and losses 114 468 (217)
Gain on disposition of operations (6) (6) (20)
Interest credited to contractholder funds 640 654 690
Impairment of goodwill and purchased intangibles 106 0 125
Changes in:      
Policy benefits and other insurance reserves (508) 469 302
Unearned premiums 801 915 463
Deferred policy acquisition costs (85) (296) (214)
Premium installment receivables, net (299) (396) (131)
Reinsurance recoverables, net 320 (656) (211)
Income taxes 487 (380) (52)
Other operating assets and liabilities (50) 855 (13)
Net cash provided by operating activities 5,129 5,175 4,314
Proceeds from sales      
Fixed income securities 29,849 33,183 25,341
Equity securities 5,277 6,859 6,504
Limited partnership interests 756 764 1,125
Other investments 303 533 274
Investment collections      
Fixed income securities 2,570 3,466 4,194
Mortgage loans 695 529 600
Other investments 254 488 642
Investment purchases      
Fixed income securities (31,317) (36,960) (31,145)
Equity securities (7,176) (5,936) (6,585)
Limited partnership interests (1,332) (1,679) (1,440)
Mortgage loans (844) (664) (646)
Other investments (666) (864) (999)
Change in short-term investments, net (767) (505) 2,610
Change in other investments, net 42 (98) (30)
Purchases of property and equipment, net (433) (277) (299)
Acquisition of operations (18) (558) (1,356)
Net cash used in investing activities (2,807) (1,719) (1,210)
Cash flows from financing activities      
Proceeds from issuance of long-term debt 491 498 0
Redemption and repayment of long-term debt (317) (400) 0
Proceeds from issuance of preferred stock 1,414 557 0
Redemption of preferred stock (1,132) (385) 0
Contractholder fund deposits 996 1,010 1,025
Contractholder fund withdrawals (1,662) (1,967) (1,890)
Dividends paid on common stock (653) (614) (525)
Dividends paid on preferred stock (134) (134) (116)
Treasury stock purchases (1,735) (2,303) (1,495)
Shares reissued under equity incentive plans, net 120 73 135
Other 129 91 (57)
Net cash used in financing activities (2,483) (3,574) (2,923)
Net (decrease) increase in cash (161) (118) 181
Cash at beginning of year 499 617 436
Cash at end of year $ 338 $ 499 $ 617