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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Cash flows from operating activities      
Net income $ 549 $ 1,292  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and other non-cash items 155 157  
Realized capital (gains) losses 462 (662)  
Pension and other postretirement remeasurement (gains) losses 318 15  
Gain on disposition of operations (1) (1)  
Interest credited to contractholder funds 132 162  
Increase (Decrease) in Future Policy Benefit Reserves and Other Insurance Liabilities (654) (114)  
Changes in:      
Unearned premiums (272) (201)  
Deferred policy acquisition costs 38 33  
Premium installment receivables, net 26 (39)  
Reinsurance recoverables, net 24 179  
Income taxes 28 303  
Other operating assets and liabilities 222 (410)  
Net cash provided by operating activities 1,027 714  
Proceeds from sales      
Fixed income securities 12,114 9,034  
Equity securities 5,250 633  
Limited partnership interests 749 241  
Other investments 116 44  
Investment collections      
Fixed income securities 555 628  
Mortgage loans 118 104  
Other investments 61 68  
Investment purchases      
Fixed income securities (14,667) (9,056)  
Equity securities (1,619) (871)  
Limited partnership interests (357) (282)  
Mortgage loans (142) (114)  
Other investments (129) (89)  
Change in short-term investments, net (1,953) (552)  
Change in other investments, net 37 47  
Purchases of property and equipment, net (65) (80)  
Acquisition of operations 0 (18)  
Net cash provided by (used in) investing activities 68 (263)  
Cash flows from financing activities      
Redemption of preferred stock (288)   $ 0
Contractholder fund deposits 246 254  
Contractholder fund withdrawals (471) (458)  
Dividends paid on common stock (159) (158)  
Dividends paid on preferred stock (29) (31)  
Treasury stock purchases (414) 0  
Shares reissued under equity incentive plans, net 8 (5)  
Other 12 (1)  
Net cash used in financing activities (1,095) (399)  
Net increase in cash 0 52  
Cash at beginning of period 338 499 499
Cash at end of period $ 338 $ 551 $ 338