|
Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
|
3 Months Ended |
|
Mar. 31, 2015
|
Mar. 31, 2014
|
| Cash Flows from Operating Activities |
|
|
| Net Income |
$ 531 |
$ 529 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
151 |
150 |
| Realized investment (gains) losses |
(73) |
(42) |
| Deferred income taxes |
15 |
14 |
| Net changes in assets and liabilities, net of non-operating effects: |
|
|
| Premiums, accounts and notes receivable |
(549) |
(431) |
| Reinsurance recoverables |
(11) |
42 |
| Deferred policy acquisition costs |
(76) |
(67) |
| Other assets |
(101) |
(63) |
| Insurance liabilities |
455 |
262 |
| Accounts payable, accrued expenses and other liabilities |
157 |
(107) |
| Current income taxes |
221 |
250 |
| Other, net |
(56) |
(47) |
| Net cash provided by / (used in) operating activities |
664 |
490 |
| Proceeds from investments sold: |
|
|
| Fixed maturities and equity securities |
393 |
194 |
| Investment maturities and repayments: |
|
|
| Fixed maturities and equity securities |
284 |
396 |
| Commercial mortgage loans |
166 |
127 |
| Other sales, maturities and repayments (primarily short-term and other long-term investments) |
488 |
879 |
| Investments purchased or originated: |
|
|
| Fixed maturities and equity securities |
(648) |
(1,445) |
| Commercial mortgage loans |
(90) |
0 |
| Other (primarily short-term and other long-term investments) |
(420) |
(572) |
| Property and equipment purchases |
(115) |
(97) |
| Acquisitions, net of cash acquired |
(107) |
0 |
| Other, net |
0 |
12 |
| Net cash provided by/ (used in) investing activities |
(49) |
(506) |
| Cash Flows from Financing Activities |
|
|
| Deposits and interest credited to contractholder deposit funds |
386 |
411 |
| Withdrawals and benefit payments from contractholder deposit funds |
(361) |
(351) |
| Net change in short-term debt |
(5) |
(6) |
| Net proceeds on issuance of long-term debt |
894 |
0 |
| Repurchase of common stock |
(413) |
(615) |
| Issuance of common stock |
99 |
43 |
| Other, net |
3 |
19 |
| Net cash provided by / (used in) financing activities |
603 |
(499) |
| Effect of foreign currency rate changes on cash and cash equivalents |
(18) |
(4) |
| Net increase (decrease) in cash and cash equivalents |
1,200 |
(519) |
| Cash and cash equivalents, January 1 |
1,420 |
2,795 |
| Cash and cash equivalents, March 31 |
2,620 |
2,276 |
| Supplemental Disclosure of Cash Information: |
|
|
| Income taxes paid, net of refunds |
49 |
43 |
| Interest paid |
$ 69 |
$ 70 |