XML 30 R7.htm IDEA: XBRL DOCUMENT v3.19.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities    
Net income $ 1,292 $ 1,006
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other non-cash items 157 122
Realized capital gains and losses (662) 134
Pension and other postretirement remeasurement gains and losses 15 14
Gain on disposition of operations (1) (1)
Interest credited to contractholder funds 162 161
Changes in:    
Policy benefits and other insurance reserves (114) (364)
Unearned premiums (201) (204)
Deferred policy acquisition costs 33 10
Premium installment receivables, net (39) (58)
Reinsurance recoverables, net 179 (12)
Income taxes 303 189
Other operating assets and liabilities (410) (371)
Net cash provided by operating activities 714 626
Proceeds from sales    
Fixed income securities 9,034 10,619
Equity securities 633 1,138
Limited partnership interests 241 53
Other investments 44 76
Investment collections    
Fixed income securities 628 583
Mortgage loans 104 46
Other investments 68 122
Investment purchases    
Fixed income securities (9,056) (9,789)
Equity securities (871) (1,535)
Limited partnership interests (282) (415)
Mortgage loans (114) (192)
Other investments (89) (330)
Change in short-term investments, net (552) (1,533)
Change in other investments, net 47 (27)
Purchases of property and equipment, net (80) (62)
Acquisition of operations (18) (5)
Net cash used in investing activities (263) (1,251)
Cash flows from financing activities    
Proceeds from issuance of long-term debt 0 498
Proceeds from issuance of preferred stock 0 558
Contractholder fund deposits 254 253
Contractholder fund withdrawals (458) (492)
Dividends paid on common stock (158) (132)
Dividends paid on preferred stock (31) (29)
Treasury stock purchases 0 (270)
Shares reissued under equity incentive plans, net (5) 10
Other (1) 62
Net cash (used in) provided by financing activities (399) 458
Net increase (decrease) in cash 52 (167)
Cash at beginning of period 499 617
Cash at end of period $ 551 $ 450