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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net income $ 3,641 $ 2,195
Adjustments to reconcile net income to net cash provided by operating activities:    
Gains on investment securities, net (696) (23)
Equity in net earnings (68) (16)
Stock-based compensation 129 119
Depreciation 390 382
Amortization 66 53
Benefit for deferred income taxes (3) (21)
Changes in operating assets and liabilities, net of effect of businesses acquired and dispositions:    
Receivables (82) 179
Other assets (1,547) 334
Benefits payable 2,204 1,358
Other liabilities 1,257 168
Unearned revenues 40 (9)
Other 25 53
Net cash provided by operating activities 5,356 4,772
Cash flows from investing activities    
Acquisitions, net of cash acquired (709) 0
Purchases of property and equipment (668) (506)
Purchases of investment securities (7,230) (4,130)
Maturities of investment securities 3,500 1,281
Proceeds from sales of investment securities 2,097 2,878
Net cash used in investing activities (3,010) (477)
Cash flows from financing activities    
(Withdrawals) receipts from contract deposits, net (274) 11
Proceeds from issuance of senior notes, net 1,088 987
Proceeds (repayments) from issuance of commercial paper, net 21  
Proceeds (repayments) from issuance of commercial paper, net   (358)
Proceeds from term loan 1,000 0
Repayments of Notes Payable 0 (650)
Change in book overdraft (11) 102
Common stock repurchases (30) (1,010)
Dividends paid (239) (216)
Proceeds from stock option exercises and other, net 30 23
Net cash provided by (used in) financing activities 1,585 (1,111)
Increase in cash and cash equivalents 3,931 3,184
Cash and cash equivalents at beginning of period 4,054 2,343
Cash and cash equivalents at end of period 7,985 5,527
Supplemental cash flow disclosures:    
Interest payments 159 136
Income tax payments, net $ 778 $ 578