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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities    
Net income $ 1,189 $ 1,372
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 693 897
Realized investment losses (gains), net 88 (10)
Deferred income tax (benefit) (161) (162)
Debt extinguishment costs 185 0
Net changes in assets and liabilities, net of non-operating effects:    
Accounts receivable (1,056) (396)
Inventories 96 440
Deferred policy acquisition costs (138) (51)
Reinsurance recoverable and Other assets (210) 124
Insurance liabilities 341 360
Pharmacy and service costs payable 408 444
Accounts payable and Accrued expenses and other liabilities 308 91
Other, net 144 83
NET CASH PROVIDED BY OPERATING ACTIVITIES  1,887 3,192
Proceeds from investments sold:    
Debt securities and equity securities 756 1,471
Investment maturities and repayments:    
Debt securities and equity securities 408 319
Commercial mortgage loans 5 89
Other sales, maturities and repayments (primarily short-term and other long-term investments) 346 367
Investments purchased or originated:    
Debt securities and equity securities (1,174) (1,088)
Commercial mortgage loans 0 (95)
Other (primarily short-term and other long-term investments) (380) (388)
Property and equipment purchases, net (267) (194)
Acquisitions, net of cash acquired 0 (6)
Other, net 37 0
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES  (269) 475
Cash Flows from Financing Activities    
Deposits and interest credited to contractholder deposit funds 267 247
Withdrawals and benefit payments from contractholder deposit funds (255) (251)
Net change in short-term debt (180) (1,048)
Payments for debt extinguishment (192) 0
Repayment of long-term debt (4,209) (1,000)
Net proceeds on issuance of long-term debt 3,470 0
Repurchase of common stock (956) (462)
Issuance of common stock 153 53
Other, net 84 (73)
NET CASH (USED IN) FINANCING ACTIVITIES  (1,818) (2,534)
Effect of foreign currency rate changes on cash, cash equivalents and restricted cash (37) (12)
Net (decrease) increase in cash, cash equivalents and restricted cash (237) 1,121
Cash, cash equivalents, and restricted cash January 1, [1] 5,411 3,855
Cash, cash equivalents and restricted cash, March 31, 5,174 4,976
Cash reclassified to assets of business held for sale (597) 0
Cash, cash equivalents, and restricted cash March 31, per Consolidated Balance Sheets [2] 4,577 4,976
Supplemental Disclosure of Cash Information:    
Income taxes paid, net of refunds 81 29
Interest paid $ 395 $ 377
[1] Includes restricted cash of $26 million reported in Other assets, $23 million reported in Long-term investments, and $743 million reported in Assets of business held for sale as of January 1, 2020.
[2] Includes restricted cash of $125 million reported in Other long-term investments as of March 31, 2020.