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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities      
Net income $ 2,469.8 $ 2,560.0 $ 2,569.7
Adjustments to reconcile net income to net cash provided by operating activities:      
Net realized gains on financial instruments (4.9) (157.5) (177.0)
Other-than-temporary impairment losses recognized in income 115.4 83.4 49.0
(Gain) loss on extinguishment of debt 0.0 (9.3) 81.1
Gain on disposal from discontinued operations 0.0 0.0 (3.2)
Loss (gain) on disposal of assets 4.5 16.0 (1.7)
Deferred income taxes 126.9 (65.9) 30.7
Amortization, net of accretion 807.8 802.1 744.5
Depreciation expense 104.0 105.8 106.5
Impairment of property and equipment 44.8 1.8 7.9
Share-based compensation 164.6 148.2 168.9
Excess tax benefits from share-based compensation (53.5) (95.8) (46.4)
Changes in operating assets and liabilities:      
Receivables, net (1,380.5) (42.9) (1,899.7)
Other invested assets (19.4) 5.9 (21.7)
Other assets (127.7) 33.8 405.5
Policy liabilities 321.7 193.0 1,240.6
Unearned income (173.6) 33.9 255.1
Accounts payable and accrued expenses 116.6 (219.3) (14.4)
Other liabilities 605.7 686.4 (7.9)
Income taxes 178.8 41.5 (34.0)
Other, net (96.5) (5.1) (84.2)
Net cash provided by operating activities 3,204.5 4,116.0 3,369.3
Investing activities      
Purchases of fixed maturity securities (10,157.7) (9,792.0) (9,613.4)
Proceeds from fixed maturity securities:      
Sales 8,636.0 8,909.2 8,066.0
Maturities, calls and redemptions 1,418.6 1,313.6 1,318.7
Purchases of equity securities (1,476.3) (1,561.4) (912.0)
Proceeds from sales of equity securities 1,592.8 1,471.1 746.5
Purchases of other invested assets (433.1) (505.8) (205.7)
Proceeds from sales of other invested assets 304.9 85.9 124.7
Changes in collateral and settlement of non-hedging derivatives (34.5) (36.5) (67.4)
Changes in securities lending collateral 222.0 214.4 (545.6)
Purchases of subsidiaries, net of cash acquired 0.0 (638.9) 0.0
Proceeds from sale of subsidiary, net of cash sold 0.0 0.0 740.0
Purchases of property and equipment (583.6) (638.2) (714.6)
Proceeds from sales of property and equipment 0.0 35.3 88.0
Other, net (3.0) (8.2) (0.1)
Net cash used in investing activities (513.9) (1,151.5) (974.9)
Financing activities      
Net (repayments of) proceeds from commercial paper borrowings (53.2) 682.2 (379.2)
Proceeds from long-term borrowings 0.0 1,226.5 2,700.0
Repayments of long-term borrowings 0.0 (2,697.2) (1,730.1)
Proceeds from short-term borrowings 2,400.0 2,760.0 2,050.0
Repayments of short-term borrowings (2,500.0) (2,620.0) (2,050.0)
Changes in securities lending payable (222.0) (214.4) 545.6
Changes in bank overdrafts 513.8 (243.8) 173.0
Premiums paid on equity call options 0.0 (16.7) 0.0
Proceeds from sale of put options 0.0 16.6 0.0
Repurchase and retirement of common stock 0.0 (1,515.8) (2,998.8)
Change in collateral and settlements of debt-related derivatives (360.4) 0.0 0.0
Cash dividends (684.0) (656.6) (480.7)
Proceeds from issuance of common stock under employee stock plans 119.4 186.0 301.3
Excess tax benefits from share-based compensation 53.5 95.8 46.4
Net cash used in financing activities (732.9) (2,997.4) (1,822.5)
Effect of foreign exchange rates on cash and cash equivalents 4.1 (5.3) (7.1)
Change in cash and cash equivalents 1,961.8 (38.2) 564.8
Cash and cash equivalents at beginning of year 2,113.5 2,151.7 1,586.9
Cash and cash equivalents at end of year $ 4,075.3 $ 2,113.5 $ 2,151.7