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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows from Operating Activities    
Net Income $ 1,469 $ 1,659
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 460 451
Realized investment (gains) losses (110) (104)
Deferred income taxes 63 44
Net changes in assets and liabilities, net of non-operating effects:    
Premiums, accounts and notes receivable 184 (1,051)
Reinsurance recoverables 132 61
Deferred policy acquisition costs (167) (145)
Other assets (32) (89)
Insurance liabilities 1,098 620
Accounts payable, accrued expenses and other liabilities 9 219
Current income taxes (57) 36
Loss on extinguishment of debt 0 100
Other, net [1] 25 (4)
Net cash provided by (used in) operating activities [1] 3,074 1,797
Proceeds from investments sold:    
Fixed maturities and equity securities 1,012 1,452
Investment maturities and repayments:    
Fixed maturities and equity securities 1,178 1,018
Commercial mortgage loans 117 458
Other sales, maturities and repayments (primarily short-term and other long-term investments) 904 1,006
Investments purchased or originated:    
Fixed maturities and equity securities (2,894) (2,686)
Commercial mortgage loans (121) (389)
Other (primarily short-term and other long-term investments) (1,317) (689)
Property and equipment purchases (362) (357)
Acquisitions, net of cash acquired (5) (110)
Other, net (101) 0
Net cash provided by (used in) investing activities (1,589) (297)
Cash Flows from Financing Activities    
Deposits and interest credited to contractholder deposit funds 1,133 1,092
Withdrawals and benefit payments from contractholder deposit funds (1,042) (1,053)
Net change in short-term debt (143) (15)
Net proceeds on issuance of long-term debt 0 894
Repayment of long-term debt 0 (938)
Repurchase of common stock (139) (536)
Issuance of common stock 23 136
Other, net [1] (87) (83)
Net cash provided by (used in) financing activities [1] (255) (503)
Effect of foreign currency rate changes on cash and cash equivalents 26 (36)
Net increase (decrease) in cash and cash equivalents 1,256 961
Cash and cash equivalents, January 1 1,968 1,420
Cash and cash equivalents, September 30 3,224 2,381
Supplemental Disclosure of Cash Information:    
Income taxes paid, net of refunds 904 881
Interest paid $ 192 $ 192
[1] As required by the adoption of ASU 2016-09, the Company retrospectively reclassified $78 million of cash payments from operating to financing activities for the nine months ended September 30, 2015. These payments were related to employee tax obligations associated with stock compensation. The comparable amount reported in financing activities for the nine months ended September 30, 2016 was $69 million. See Note 2 for further discussion.