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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities      
Net income $ 996 $ 319 $ 561
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization and other non-cash items (64) (64) (74)
Realized capital gains and losses (49) 77 (265)
Gain on disposition of operations (7) (5) (3)
Interest credited to contractholder funds 639 677 717
Changes in:      
Policy benefits and other insurance reserves (529) (611) (559)
Deferred policy acquisition costs 31 54 27
Reinsurance recoverables, net 56 30 16
Income taxes (308) 135 27
Other operating assets and liabilities (159) (117) (41)
Net cash provided by operating activities 606 495 406
Proceeds from sales      
Fixed income securities 3,916 5,999 8,267
Equity securities 1,536 1,298 636
Limited partnership interests 539 371 481
Mortgage loans 0 0 6
Other investments 45 44 24
Investment collections      
Fixed income securities 1,733 2,085 1,993
Mortgage loans 566 363 446
Other investments 208 169 69
Investment purchases      
Fixed income securities (4,698) (7,072) (8,272)
Equity securities (1,385) (1,234) (1,264)
Limited partnership interests (631) (677) (663)
Mortgage loans (503) (517) (615)
Other investments (238) (211) (220)
Change in short-term investments, net (12) (19) 77
Change in policy loans and other investments, net (37) (26) (39)
Disposition of operations 0 0 20
Net cash provided by investing activities 1,039 573 946
Cash flows from financing activities      
Contractholder fund deposits 808 854 901
Contractholder fund withdrawals (1,823) (2,028) (2,278)
Proceeds from issuance of notes to related parties 0 140 0
Dividends paid (600) 0 (17)
Return of capital 0 0 0
Other (23) 0 0
Net cash used in financing activities (1,638) (1,034) (1,394)
Net increase (decrease) in cash 7 34 (42)
Cash at beginning of year 138 104 146
Cash at end of year $ 145 $ 138 $ 104