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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities    
Net income $ 4,347 $ 4,136
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,089 2,724
Realized investment losses (gains), net 18 (84)
Deferred income tax (benefit) (340) (400)
Debt extinguishment costs 199 0
Net changes in assets and liabilities, net of non-operating effects:    
Accounts receivable (2,810) (1,171)
Inventories 5 661
Deferred policy acquisition costs (244) (162)
Reinsurance recoverable and Other assets (468) (92)
Insurance liabilities 740 590
Pharmacy and service costs payable 2,084 210
Accounts payable and Accrued expenses and other liabilities (32) 23
Other, net 468 257
NET CASH PROVIDED BY OPERATING ACTIVITIES  6,056 6,692
Proceeds from investments sold:    
Debt securities and equity securities 2,038 2,639
Investment maturities and repayments:    
Debt securities and equity securities 1,097 1,281
Commercial mortgage loans 14 174
Other sales, maturities and repayments (primarily short-term and other long-term investments) 1,086 978
Investments purchased or originated:    
Debt securities and equity securities (3,317) (3,347)
Commercial mortgage loans (55) (221)
Other (primarily short-term and other long-term investments) (1,434) (1,214)
Property and equipment purchases, net (775) (740)
Acquisitions, net of cash acquired (135) (6)
Other, net 37 (7)
NET CASH (USED IN) INVESTING ACTIVITIES  (1,444) (463)
Cash Flows from Financing Activities    
Deposits and interest credited to contractholder deposit funds 769 731
Withdrawals and benefit payments from contractholder deposit funds (736) (845)
Net change in short-term debt 592 (479)
Net proceeds on issuance of term loan 1,398 0
Payments for debt extinguishment (212) 0
Repayment of long-term debt (6,897) (3,340)
Net proceeds on issuance of long-term debt 3,465 0
Repurchase of common stock (2,352) (1,540)
Issuance of common stock 239 101
Other, net (78) (108)
NET CASH (USED IN) FINANCING ACTIVITIES  (3,812) (5,480)
Effect of foreign currency rate changes on cash, cash equivalents and restricted cash (7) (27)
Net increase in cash, cash equivalents and restricted cash 793 722
Cash, cash equivalents and restricted cash January 1, [1] 5,411 3,855
Cash, cash equivalents and restricted cash, September 30, 6,204 4,577
Cash reclassified to assets of business held for sale (798) 0
Cash, cash equivalents, and restricted cash September 30, per Consolidated Balance Sheets [2] 5,406 4,577
Supplemental Disclosure of Cash Information:    
Income taxes paid, net of refunds 1,408 1,607
Interest paid $ 1,112 $ 1,257
[1] Includes restricted cash of $26 million reported in Other assets, $23 million in Long-term investments, and $743 million reported in Assets of business held for sale as of January 1, 2020.
[2] See table below for Cash, cash equivalents and restricted cash reconciliation as of September 30, 2020 and September 30, 2019.