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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash Flows from Operating Activities    
Net Income $ 514 $ 531
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 158 151
Realized investment (gains) losses 32 (73)
Deferred income taxes 11 15
Net changes in assets and liabilities, net of non-operating effects:    
Premiums, accounts and notes receivable (237) (549)
Reinsurance recoverables 24 (11)
Deferred policy acquisition costs (62) (76)
Other assets (57) (101)
Insurance liabilities 507 455
Accounts payable, accrued expenses and other liabilities (263) 157
Current income taxes 262 221
Other, net [1] 5 17
Net cash provided by (used in) operating activities [1] 894 737
Proceeds from investments sold:    
Fixed maturities and equity securities 361 393
Investment maturities and repayments:    
Fixed maturities and equity securities 255 284
Commercial mortgage loans 18 166
Other sales, maturities and repayments (primarily short-term and other long-term investments) 102 488
Investments purchased or originated:    
Fixed maturities and equity securities (758) (648)
Commercial mortgage loans (1) (90)
Other (primarily short-term and other long-term investments) (198) (420)
Property and equipment purchases (112) (115)
Acquisitions, net of cash acquired 0 (107)
Net cash provided by (used in) investing activities (333) (49)
Cash Flows from Financing Activities    
Deposits and interest credited to contractholder deposit funds 383 386
Withdrawals and benefit payments from contractholder deposit funds (343) (361)
Net change in short-term debt (6) (5)
Net proceeds on issuance of long-term debt 0 894
Repurchase of common stock (139) (413)
Issuance of common stock 10 99
Other, net [1] (51) (70)
Net cash provided by (used in) financing activities [1] (146) 530
Effect of foreign currency rate changes on cash and cash equivalents 18 (18)
Net increase (decrease) in cash and cash equivalents 433 1,200
Cash and cash equivalents, January 1 1,968 1,420
Cash and cash equivalents, March 31 2,401 2,620
Supplemental Disclosure of Cash Information:    
Income taxes paid, net of refunds 37 49
Interest paid $ 69 $ 69
[1] As required by the adoption of ASU 2016-09, the Company retrospectively reclassified $73 million of cash payments from operating to financing activities for the three months ended March 31, 2015. These payments were related to employee tax obligations associated with stock compensation. The comparable amount reported in financing activities for the three months ended March 31, 2016 was $67 million. See Note 2 for further discussion.