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Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities      
Net income (loss) $ 6,971 $ 2,786 $ (2,278)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization expenses 679 585 520
Amortization of premiums and accretion of discounts associated with investments, net (477) (1,078) (967)
(Gains) losses on investments and derivatives and from sales of businesses, net (3,181) 854 7,715
(Income) loss from equity method investements, net of dividends or distributions 315 48 1,279
Interest credited to policyholder account balances 5,603 4,925 4,852
Interest credited to bank deposits 95 137 163
Universal life and investment-type product policy fees (7,806) (6,037) (5,218)
Change in trading and other securities 648 (1,369) (1,152)
Change in residential mortgage loans held-for-sale, net (4,530) (487) (800)
Change in mortgage servicing rights (60) (165) (687)
Change in accrued investment income 525 (206) (110)
Change in premiums, reinsurance and other receivables 58 (1,023) (1,653)
Change in deferred policy acquisition costs, net (1,397) (541) (1,837)
Change in income tax recoverable (payable) 2,022 1,292 (2,614)
Change in other assets 2,360 1,948 (660)
Change in insurance-related liabilities and policy-related balances 7,068 6,489 6,401
Change in other liabilities 1,136 (315) 865
Other, net 261 153 (16)
Net cash provided by operating activities 10,290 7,996 3,803
Cash flows from investing activities      
Sales, maturities and repayments of fixed maturity securities 104,302 86,529 64,428
Sales, maturities and repayments of equity securities 2,006 1,371 2,545
Sales, maturities and repayments of mortgage loans 13,486 6,361 5,769
Sales, maturities and repayments of real estate and real estate joint ventures 1,296 322 43
Sales, maturities and repayments of other limited partnership interests 1,121 522 947
Purchases of fixed maturity securities (116,939) (100,713) (83,940)
Purchases of equity securities (1,481) (949) (1,986)
Purchases of mortgage loans (14,694) (8,967) (4,692)
Purchases of real estate and real estate joint ventures (1,534) (786) (579)
Purchases of other limited partnership interests (1,147) (1,008) (803)
Cash received in connection with freestanding derivatives 2,815 1,814 3,292
Cash paid in connection with freestanding derivatives (3,478) (2,548) (5,393)
Sales of businesses, net of cash and cash equivalents disposed of $54, $0 and $180, respectively 126 0 (50)
Sale of interest in joint venture 265 0 0
Disposal of subsidiary 4 0 (19)
Purchases of businesses, net of cash and cash equivalents acquired of $70, $4,175 and $0, respectively (163) (3,021) 0
Net change in policy loans (66) (225) (259)
Net change in short-term investments (7,949) 3,033 5,534
Net change in other invested assets (36) 137 1,388
Other, net (169) (186) (160)
Net cash used in investing activities (22,235) (18,314) (13,935)
Cash flows from financing activities      
Policyholder account balances: Deposits 91,946 74,296 77,517
Policyholder account balances: Withdrawals (87,625) (69,739) (79,799)
Net change in payables for collateral under securities loaned and other transactions 6,444 3,076 (6,863)
Net change in bank deposits 96 (32) 3,164
Net change in short-term debt 380 (606) (1,747)
Long-term debt issued 1,346 5,090 2,961
Long-term debt repaid (2,042) (1,061) (555)
Collateral financing arrangements issued 0 0 105
Collateral financing arrangements repaid (502) 0 0
Cash received in connection with collateral financing arrangements 100 0 775
Cash paid in connection with collateral financing arrangements (63) 0 (400)
Junior subordinated debt securities issued 0 0 500
Debt issuance costs (1) (14) (30)
Common stock issued, net of issuance costs 2,950 3,529 0
Stock options exercised 88 52 8
Redemption of convertible preferred stock (2,805) 0 0
Preferred stock redemption premium (146) 0 0
Common stock issued to settle stock forward contracts 0 0 1,035
Dividends on preferred stock (122) (122) (122)
Dividends on common stock (787) (784) (610)
Other, net 125 (304) (42)
Net cash provided by (used in) financing activities 9,382 13,381 (4,103)
Effect of change in foreign currency exchange rates on cash and cash equivalents balances (22) (129) 108
Change in cash and cash equivalents (2,585) 2,934 (14,127)
Cash and cash equivalents, beginning of year 13,046 10,112 24,239
Cash and cash equivalents, end of year 10,461 13,046 10,112
Cash and cash equivalents, subsidiaries held-for-sale, beginning of year 89 88 108
Cash and cash equivalents, subsidiaries held-for-sale, end of year 0 89 88
Cash and cash equivalents, from continuing operations, beginning of year 12,957 10,024 24,131
Cash and cash equivalents, from continuing operations, end of year 10,461 12,957 10,024
Supplemental disclosures of cash flow information:      
Net cash paid (received) during the year for Interest 1,565 1,489 989
Net cash paid (received) during the year for Income tax 676 (23) 397
Business acquisitions:      
Assets acquired 327 125,728 0
Liabilities assumed (94) (109,306) 0
Redeemable and non-redeemable noncontrolling interests assumed 0 (130) 0
Net assets acquired 233 16,292 0
Cash paid, excluding transaction costs of $0, $88 and $0, respectively (233) (7,196) 0
Other purchase price adjustments 0 98 0
Securities issued 0 9,194 0
Remarketing of debt securities:      
Fixed maturity securities redeemed 0 0 32
Long-term debt issued 0 0 1,035
Junior subordinated debt securities redeemed 0 0 1,067
Purchase money mortgages on sales of real estate joint ventures 0 2 93
Real estate and real estate joint ventures acquired in satisfaction of debt 292 93 211
Collateral financing arrangements repaid $ 148 $ 0 $ 0