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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities    
Net income $ 3,607 $ 2,328
Adjustments to reconcile net income to net cash flows from operating activities    
Net realized (gains) losses (35) (84)
Amortization of premiums/discounts on fixed maturities 454 526
Amortization of purchased intangibles 253 194
Deferred income taxes 46 (151)
Unpaid losses and loss expenses 436 2,789
Unearned premiums 779 340
Future policy benefits 170 186
Insurance and reinsurance balances payable 574 247
Accounts payable, accrued expenses, and other liabilities (172) (828)
Income taxes payable 182 (262)
Insurance and reinsurance balances receivable (1,074) (339)
Reinsurance recoverable on losses and loss expenses (195) (976)
Reinsurance recoverable on policy benefits (24) (10)
Deferred policy acquisition costs (270) (256)
Prepaid reinsurance premiums (129) (14)
Other (705) (279)
Net cash flows from operating activities 3,897 3,411
Cash flows from investing activities    
Purchases of fixed maturities available for sale (16,788) (18,478)
Purchases of fixed maturities held to maturity (380) (262)
Purchases of equity securities (148) (125)
Sales of fixed maturities available for sale 9,041 9,215
Sales of equity securities 247 152
Maturities and redemptions of fixed maturities available for sale 5,482 7,699
Maturities and redemptions of fixed maturities held to maturity 1,001 644
Net change in short-term investments 64 44
Net derivative instruments settlements (46) (170)
Private equity contribution (1,112) (485)
Private equity distribution 743 744
Other (231) (319)
Net cash flows used for investing activities (2,127) (1,341)
Cash flows from financing activities    
Dividends paid on Common Shares (1,001) (978)
Common Shares repurchased (732) (707)
Proceeds from issuance of long-term debt (2,001) (500)
Proceeds from issuance of repurchase agreements 1,572 1,798
Proceeds from Issuance of Long-term Debt 2,171 0
Repayment of repurchase agreements (1,566) (1,793)
Proceeds from share-based compensation plans 86 109
Policyholder contract deposits 269 312
Policyholder contract withdrawals (222) (211)
Net cash flows used for financing activities (1,424) (1,970)
Effect of foreign currency rate changes on cash and restricted cash (40) 5
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect 306 105
Cash and Restricted Cash - Beginning of year 851 1,088
Cash and Restricted Cash - end of Year 1,157 1,193
Supplemental cash flow information    
Taxes paid 313 652
Interest paid $ 403 $ 404