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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities    
Net income $ 2,143 $ 1,723
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other non-cash items 317 248
Realized capital gains and losses (986) 159
Pension and other postretirement remeasurement gains and losses 140 7
Gain on disposition of operations (3) (3)
Interest credited to contractholder funds 318 326
Impairment of purchased intangibles 55 0
Changes in:    
Policy benefits and other insurance reserves 211 (22)
Unearned premiums 214 211
Deferred policy acquisition costs (27) (80)
Premium installment receivables, net (209) (185)
Reinsurance recoverables, net 235 (9)
Income taxes 159 (238)
Other operating assets and liabilities (505) (47)
Net cash provided by operating activities 2,062 2,090
Proceeds from sales    
Fixed income securities 17,811 19,515
Equity securities 2,098 3,576
Limited partnership interests 391 182
Other investments 223 135
Investment collections    
Fixed income securities 1,243 1,442
Mortgage loans 294 315
Other investments 138 235
Investment purchases    
Fixed income securities (17,436) (20,401)
Equity securities (4,189) (3,901)
Limited partnership interests (672) (873)
Mortgage loans (311) (316)
Other investments (394) (535)
Change in short-term investments, net (213) (512)
Change in other investments, net 66 (35)
Purchases of property and equipment, net (173) (128)
Acquisition of operations (18) (10)
Net cash used in investing activities (1,142) (1,311)
Cash flows from financing activities    
Proceeds from issuance of long-term debt 492 498
Redemption and repayment of long-term debt (317) (401)
Proceeds from issuance of preferred stock 0 557
Contractholder fund deposits 504 506
Contractholder fund withdrawals (876) (997)
Dividends paid on common stock (324) (295)
Dividends paid on preferred stock (61) (58)
Treasury stock purchases (332) (838)
Shares reissued under equity incentive plans, net 44 28
Other 50 93
Net cash used in financing activities (820) (907)
Net increase (decrease) in cash 100 (128)
Cash at beginning of period 499 617
Cash at end of period $ 599 $ 489