XML 22 R8.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities      
Net income $ 1,877 $ 2,171 $ 2,850
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and other non-cash items 382 371 366
Realized capital gains and losses 90 (30) (694)
Loss on extinguishment of debt 0 0 1
(Gain) loss on disposition of operations (5) (3) 74
Interest credited to contractholder funds 726 761 919
Changes in:      
Policy benefits and other insurance reserves 631 473 541
Unearned premiums 362 638 766
Deferred policy acquisition costs (165) (239) (220)
Premium installment receivables, net (42) (134) (257)
Reinsurance recoverables, net (264) (178) (1,068)
Income taxes 417 (119) 205
Other operating assets and liabilities (16) (95) (247)
Net cash provided by operating activities 3,993 3,616 3,236
Proceeds from sales      
Fixed income securities 25,061 28,693 34,609
Equity securities 5,546 3,754 6,755
Limited partnership interests 881 1,101 1,473
Mortgage loans 0 6 10
Other investments 262 545 406
Investment collections      
Fixed income securities 4,533 4,432 3,736
Mortgage loans 501 538 1,106
Other investments 421 293 191
Investment purchases      
Fixed income securities (27,990) (30,758) (38,759)
Equity securities (5,950) (4,960) (5,443)
Limited partnership interests (1,450) (1,343) (1,398)
Mortgage loans (646) (687) (501)
Other investments (885) (902) (972)
Change in short-term investments, net (2,446) 385 272
Change in other investments, net (51) (52) 46
Purchases of property and equipment, net (313) (303) (288)
Disposition (acquisition) of operations 0 0 378
Net cash (used in) provided by investing activities (2,526) 742 1,621
Cash flows from financing activities      
Proceeds from issuance of long-term debt 1,236 0 0
Repayments of long-term debt (17) (20) (1,006)
Proceeds from issuance of preferred stock 0 0 965
Contractholder fund deposits 1,049 1,052 1,184
Contractholder fund withdrawals (2,087) (2,327) (3,446)
Dividends paid on common stock (486) (483) (477)
Dividends paid on preferred stock (116) (116) (87)
Treasury stock purchases (1,337) (2,808) (2,301)
Shares reissued under equity incentive plans, net 164 130 266
Excess tax benefits on share-based payment arrangements 32 45 41
Other 36 7 (14)
Net cash used in financing activities (1,526) (4,520) (4,875)
Net decrease in cash (59) (162) (18)
Cash at beginning of year 495 657 675
Cash at end of year $ 436 $ 495 $ 657