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Consolidated Statements of Cash Flows
$ in Millions
12 Months Ended
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Dec. 31, 2013
USD ($)
Operating activities      
Net income $ 2,560.0 $ 2,569.7 $ 2,489.7
Adjustments to reconcile net income to net cash provided by operating activities:      
Net realized gains on investments (157.5) (177.0) (271.9)
Other-than-temporary impairment losses recognized in income 83.4 49.0 98.9
(Gain) loss on extinguishment of debt (9.3) 81.1 145.3
(Gain) loss on disposal from discontinued operations 0.0 (3.2) 221.8
Loss (gain) on disposal of assets 16.0 (1.7) 3.9
Deferred income taxes (65.9) 30.7 59.1
Amortization, net of accretion 802.1 744.5 800.9
Depreciation expense 105.8 106.5 107.9
Impairment of property and equipment 1.8 7.9 47.7
Share-based compensation 148.2 168.9 146.0
Excess tax benefits from share-based compensation (95.8) (46.4) (30.1)
Changes in operating assets and liabilities:      
Receivables, net (42.9) (1,899.7) (418.3)
Other invested assets 5.9 (21.7) (15.1)
Other assets 33.8 405.5 (33.6)
Policy liabilities 193.0 1,240.6 (345.8)
Unearned income 33.9 255.1 (73.8)
Accounts payable and accrued expenses (219.3) (14.4) 303.6
Other liabilities 686.4 (7.9) (154.6)
Income taxes 41.5 (34.0) 9.3
Other, net (5.1) (84.2) (38.6)
Net cash provided by operating activities 4,116.0 3,369.3 3,052.3
Investing activities      
Purchases of fixed maturity securities (9,792.0) (9,613.4) (13,704.5)
Proceeds from fixed maturity securities:      
Sales 8,909.2 8,066.0 10,977.9
Maturities, calls and redemptions 1,313.6 1,318.7 1,836.8
Purchases of equity securities (1,561.4) (912.0) (820.3)
Proceeds from sales of equity securities 1,471.1 746.5 721.0
Purchases of other invested assets (505.8) (205.7) (251.5)
Proceeds from sales of other invested assets 85.9 124.7 127.1
Settlement of non-hedging derivatives (36.5) (67.4) (109.8)
Changes in securities lending collateral 214.4 (545.6) (405.1)
Purchases of subsidiaries, net of cash acquired (638.9) 0.0 0.0
Proceeds from sale of subsidiary, net of cash sold 0.0 740.0 0.0
Purchases of property and equipment (638.2) (714.6) (646.5)
Proceeds from sales of property and equipment 35.3 88.0 39.2
Other, net (8.2) (0.1) 1.3
Net cash used in investing activities (1,151.5) (974.9) (2,234.4)
Financing activities      
Net proceeds from (repayments of) commercial paper borrowings 682.2 (379.2) (191.7)
Proceeds from long-term borrowings 1,226.5 2,700.0 1,250.0
Repayments of long-term borrowings (2,697.2) (1,730.1) (1,801.9)
Proceeds from short-term borrowings 2,760.0 2,050.0 1,100.0
Repayments of short-term borrowings (2,620.0) (2,050.0) (950.0)
Changes in securities lending payable (214.4) 545.6 405.0
Changes in bank overdrafts (243.8) 173.0 9.9
Premiums paid on equity call options (16.7) 0.0 (25.8)
Proceeds from sale of put options 16.6 0.0 0.0
Repurchase and retirement of common stock (1,515.8) (2,998.8) (1,620.1)
Cash dividends (656.6) (480.7) (448.0)
Proceeds from issuance of common stock under employee stock plans 186.0 301.3 524.7
Excess tax benefits from share-based compensation 95.8 46.4 30.1
Net cash used in financing activities (2,997.4) (1,822.5) (1,717.8)
Effect of foreign exchange rates on cash and cash equivalents (5.3) (7.1) 2.2
Change in cash and cash equivalents (38.2) 564.8 (897.7)
Cash and cash equivalents at beginning of year 2,151.7 1,586.9 2,484.6
Cash and cash equivalents at end of year 2,113.5 2,151.7 1,586.9
Less cash and cash equivalents of discontinued operations at year end 0.0 0.0 (4.8)
Cash and cash equivalents of continuing operations at end of year $ 2,113.5 $ 2,151.7 $ 1,582.1