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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities    
Premiums collected $ 4,446 $ 4,106
Net investment income received 397 362
Limited partnership distributions 115 95
Service agreement fee received 23 23
Commissions and bonuses paid to agents (633) (576)
Losses paid (2,428) (2,438)
Loss expenses paid (393) (378)
Other underwriting and acquisition costs paid (518) (519)
Income taxes paid (346) (126)
Net cash provided by (used in) operating activities 663 549
Purchase of investments:    
Fixed maturities (2,201) (1,825)
Preferred stock (170) (382)
Common stock (897) (766)
Limited partnerships (101) (82)
Sales/maturities of investments:    
Fixed maturity sales 859 490
Fixed maturity calls/maturities 742 685
Preferred stock 250 331
Common stock 912 944
Sale of and returns on limited partnerships 176 100
Net purchase of property and equipment (45) (29)
Net collections on agent loans 1 2
Net distributions on life policy loans (1) (1)
Net cash provided by (used in) investing activities (475) (533)
Cash flows from financing activities    
Annuity deposits and interest 58 66
Annuity surrenders and withdrawals (64) (62)
Universal life deposits and interest 27 25
Universal life surrenders (10) (9)
Purchase of treasury stock 0 (20)
Dividends paid to shareholders (95) (89)
Net cash provided by (used in) financing activities (84) (89)
Net increase (decrease) in cash and cash equivalents 104 (73)
Cash and cash equivalents at beginning of period 514 452
Cash and cash equivalents at end of period $ 618 $ 379