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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities    
Net income $ 1,940 $ 1,037
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other non-cash items 358 285
Realized capital gains and losses (318) 92
Gain on disposition of operations (15) (4)
Interest credited to contractholder funds 522 558
Changes in:    
Policy benefits and other insurance reserves 1,276 978
Unearned premiums 525 540
Deferred policy acquisition costs (176) (159)
Premium installment receivables, net (267) (236)
Reinsurance recoverables, net (1,017) (420)
Income taxes 119 30
Other operating assets and liabilities 267 41
Net cash provided by operating activities 3,214 2,742
Proceeds from sales    
Fixed income securities 19,508 19,132
Equity securities 5,179 4,069
Limited partnership interests 767 634
Other investments 170 206
Investment collections    
Fixed income securities 3,038 3,430
Mortgage loans 477 403
Other investments 458 281
Investment purchases    
Fixed income securities (23,935) (22,282)
Equity securities (5,296) (4,113)
Limited partnership interests (1,082) (1,128)
Mortgage loans (311) (460)
Other investments (700) (674)
Change in short-term investments, net 2,257 94
Change in other investments, net (28) (60)
Purchases of property and equipment, net (216) (190)
Acquisition of operations (1,356) 0
Net cash used in investing activities (1,070) (658)
Cash flows from financing activities    
Repayments of long-term debt 0 (16)
Contractholder fund deposits 767 785
Contractholder fund withdrawals (1,416) (1,537)
Dividends paid on common stock (391) (364)
Dividends paid on preferred stock (87) (87)
Treasury stock purchases (848) (1,154)
Shares reissued under equity incentive plans, net 132 123
Excess tax benefits on share-based payment arrangements 0 25
Other (47) 35
Net cash used in financing activities (1,890) (2,190)
Net increase (decrease) in cash 254 (106)
Cash at beginning of period 436 495
Cash at end of period $ 690 $ 389