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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities    
Net income $ 211 $ 542
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization and other non-cash items (48) (58)
Realized capital gains and losses 66 (359)
Gain on disposition of operations (4) (2)
Interest credited to contractholder funds 520 546
Changes in:    
Policy benefits and other insurance reserves (454) (422)
Deferred policy acquisition costs 37 20
Reinsurance recoverables, net 25 17
Income taxes 108 128
Other operating assets and liabilities (72) (31)
Net cash provided by operating activities 389 381
Proceeds from sales    
Fixed income securities 5,116 6,758
Equity securities 842 511
Limited partnership interests 247 349
Mortgage loans 0 6
Other investments 37 18
Investment collections    
Fixed income securities 1,569 1,448
Mortgage loans 280 257
Other investments 107 59
Investment purchases    
Fixed income securities (5,771) (6,308)
Equity securities (841) (1,045)
Limited partnership interests (523) (481)
Mortgage loans (353) (475)
Other investments (148) (204)
Change in short-term investments, net (52) (88)
Change in policy loans and other investments, net (37) (17)
Disposition of operations 0 10
Net cash provided by investing activities 473 798
Cash flows from financing activities    
Contractholder fund deposits 641 674
Contractholder fund withdrawals (1,492) (1,755)
Dividends paid 0 (17)
Net cash used in financing activities (851) (1,098)
Net increase in cash 11 81
Cash at beginning of period 104 146
Cash at end of period $ 115 $ 227