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CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)
In Millions
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash Flows from Operating Activities  
Net Income$ 1,226$ 1,554
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities  
Increase in Unpaid Losses and Loss Expenses, Net728213
Increase in Unearned Premiums, Net944
Decrease in Premiums Receivable101127
Change in Income Tax Payable or Recoverable(193)216
Amortization of Premiums and Discounts on Fixed Maturities111116
Depreciation4147
Realized Investment Gains, Net(300)(271)
Other, Net(118)(128)
Net Cash Provided by Operating Activities1,6901,878
Cash Flows from Investing Activities  
Proceeds from Fixed Maturities - Sales1,1841,793
Proceeds from Fixed Maturities - Maturities, Calls and Redemptions2,4502,079
Proceeds from Sales of Equity Securities10393
Purchases of Fixed Maturities(3,660)(3,950)
Purchases of Equity Securities(67)(108)
Investments in Other Invested Assets, Net19866
Increase in Short Term Investments, Net(378)(109)
Increase in Net Payable from Security Transactions Not Settled91112
Purchases of Property and Equipment, Net(30)(38)
Other, Net0(1)
Net Cash Used in Investing Activities(109)(63)
Cash Flows from Financing Activities  
Increase in Funds Held Under Deposit Contracts823
Proceeds from Issuance of Common Stock Under Stock-Based Employee Compensation Plans6354
Repurchase of Shares(1,327)(1,509)
Dividends Paid to Shareholders(340)(357)
Net Cash Used in Financing Activities(1,596)(1,789)
Net Increase (Decrease) in Cash(15)26
Cash at Beginning of Year7051
Cash at End of Period$ 55$ 77