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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities    
Net income $ 1,032 $ 1,245
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other non-cash items 179 189
Realized capital gains and losses (247) (294)
Loss on extinguishment of debt 0 1
Loss on disposition of operations 0 50
Interest credited to contractholder funds 384 519
Changes in:    
Policy benefits and other insurance reserves 526 103
Unearned premiums 244 287
Deferred policy acquisition costs (132) (77)
Premium installment receivables, net (158) (152)
Reinsurance recoverables, net (144) (39)
Income taxes (283) (195)
Other operating assets and liabilities (98) (436)
Net cash provided by operating activities 1,303 1,201
Proceeds from sales    
Fixed income securities 16,012 14,205
Equity securities 2,074 2,744
Limited partnership interests 591 802
Mortgage loans 0 10
Other investments 132 81
Investment collections    
Fixed income securities 2,243 1,730
Mortgage loans 357 726
Other investments 177 107
Investment purchases    
Fixed income securities (16,482) (15,802)
Equity securities (1,920) (2,668)
Limited partnership interests (563) (653)
Mortgage loans (509) (109)
Other investments (518) (395)
Change in short-term investments, net (391) (60)
Change in other investments, net (16) 49
Purchases of property and equipment, net (133) (124)
Disposition of operations 0 378
Net cash provided by investing activities 1,054 1,021
Cash flows from financing activities    
Repayments of long-term debt (9) (355)
Proceeds from issuance of preferred stock 0 965
Contractholder fund deposits 527 666
Contractholder fund withdrawals (1,152) (1,922)
Dividends paid on common stock (243) (238)
Dividends paid on preferred stock (58) (25)
Treasury stock purchases (1,424) (1,257)
Shares reissued under equity incentive plans, net 109 149
Excess tax benefits on share-based payment arrangements 43 18
Other (2) (9)
Net cash used in financing activities (2,209) (2,008)
Net increase in cash 148 214
Cash at beginning of period 657 675
Cash at end of period $ 805 $ 889