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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities    
Premiums collected $ 2,906 $ 2,679
Net investment income received 262 235
Limited partnership distributions 74 64
Service agreement fee received 15 15
Commissions and bonuses paid to agents (436) (397)
Losses paid (1,613) (1,630)
Loss expenses paid (257) (251)
Other underwriting and acquisition costs paid (392) (372)
Income taxes paid (248) (98)
Net cash provided by (used in) operating activities 311 245
Purchase of investments:    
Fixed maturities (1,607) (1,090)
Preferred stock (125) (168)
Common stock (565) (550)
Limited partnerships (63) (46)
Sales/maturities of investments:    
Fixed maturity sales 625 371
Fixed maturity calls/maturities 469 413
Preferred stock 112 119
Common stock 713 565
Sale of and returns on limited partnerships 118 70
Net purchase of property and equipment (26) (17)
Net collections on agent loans 0 1
Net distributions on life policy loans (1) 0
Net cash provided by (used in) investing activities (350) (332)
Cash flows from financing activities    
Annuity deposits and interest 40 45
Annuity surrenders and withdrawals (42) (39)
Universal life deposits and interest 17 14
Universal life surrenders (6) (6)
Purchase of treasury stock 0 (20)
Dividends paid to shareholders (63) (59)
Net cash provided by (used in) financing activities (54) (65)
Net increase (decrease) in cash and cash equivalents (93) (152)
Cash and cash equivalents at beginning of period 514 452
Cash and cash equivalents at end of period $ 421 $ 300