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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net income $ 1,523 $ 1,551
Adjustments to reconcile net income to net cash provided by operating activities:    
Net realized losses (gains) on financial instruments 24 (78)
Depreciation and amortization 270 289
Deferred income taxes 57 55
Share-based compensation 67 70
Changes in operating assets and liabilities:    
Receivables, net (639) (753)
Other invested assets 63 (21)
Other assets (525) (125)
Policy liabilities 692 791
Unearned income (109) 96
Accounts Payable and Other Operating Liabilities 588 (354)
Income taxes 491 115
Other, net 13 (6)
Net cash provided by operating activities 2,515 1,630
Investing activities    
Payments to acquire investments 3,896 6,069
Proceeds from sale of investments 2,728 5,236
Maturities, calls and redemptions from investments 597 393
Purchases of subsidiaries, net of cash acquired (1,908) 0
Purchases of property and equipment (204) (234)
Other, net (101) 22
Net cash used in investing activities (2,784) (652)
Financing activities    
Net proceeds from commercial paper borrowings 905 178
Proceeds from long-term borrowings 300 2
Repayments of long-term borrowings (52) (63)
Proceeds from short-term borrowings 1,075 2,710
Repayments of short-term borrowings (700) (2,760)
Repurchase and retirement of common stock (529) (294)
Cash dividends (240) (206)
Proceeds from issuance of common stock under employee stock plans 44 76
Taxes paid through withholding of common stock under employee stock plans (107) (78)
Other, net (17) 6
Net cash provided by (used in) financing activities 679 (429)
Effect of foreign exchange rates on cash and cash equivalents (2) (1)
Change in cash and cash equivalents 408 548
Cash and cash equivalents at beginning of period 4,937 3,934
Cash and cash equivalents at end of period $ 5,345 $ 4,482