| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
Cash Flows from Operating Activities | ||||||
Net income | ||||||
5,120 | 2,646 | 2,232 | 1,843 | |||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
3,651 | 695 | 566 | 610 | |||
Realized investment losses (gains), net | ||||||
177 | -81 | 237 | 169 | |||
Deferred income tax (benefit) | ||||||
313 | 101 | -242 | -74 | |||
Debt extinguishment costs | ||||||
-2 | 0 | -321 | 0 | |||
Net changes in assets and liabilities, net of non-operating effects: | ||||||
Accounts receivable | ||||||
713 | -705 | 233 | -663 | |||
Inventories | ||||||
-149 | 107 | 72 | -30 | |||
Deferred policy acquisition costs | ||||||
242 | 237 | 282 | 213 | |||
Reinsurance recoverable and Other assets | ||||||
277 | 234 | -115 | -246 | |||
Insurance liabilities | ||||||
575 | 560 | 506 | 683 | |||
Pharmacy and service costs payable | ||||||
-192 | -842 | 35 | -46 | |||
Accounts payable and Accrued expenses and other liabilities | ||||||
1,343 | 332 | 696 | 171 | |||
Other, net | ||||||
-559 | -272 | -197 | -134 | |||
NET CASH PROVIDED BY OPERATING ACTIVITIES | ||||||
9,485 | 3,770 | 4,086 | 4,026 | |||
Cash Flows from Investing Activities | ||||||
Proceeds from investments sold: | ||||||
Debt securities and equity securities | ||||||
3,487 | 2,655 | 2,012 | 1,544 | |||
Investment maturities and repayments: | ||||||
Debt securities and equity securities | ||||||
1,825 | 2,151 | 2,051 | 1,755 | |||
Commercial mortgage loans | ||||||
199 | 215 | 335 | 316 | |||
Other sales, maturities and repayments (primarily short-term and other long-term investments) | ||||||
1,311 | 734 | 1,702 | 1,431 | |||
Investments purchased or originated: | ||||||
Debt securities and equity securities | ||||||
4,282 | 5,637 | 5,628 | 5,191 | |||
Commercial mortgage loans | ||||||
307 | 312 | 430 | 165 | |||
Other (primarily short-term and other long-term investments) | ||||||
1,753 | 1,189 | 1,065 | 1,698 | |||
Property and equipment purchases, net | ||||||
1,050 | 528 | 471 | 461 | |||
Acquisitions, net of cash acquired | ||||||
153 | 24,455 | 209 | 4 | |||
Other, net | ||||||
11 | 12 | 0 | 101 | |||
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES | ||||||
-734 | -26,378 | -1,703 | -2,574 | |||
Cash Flows from Financing Activities | ||||||
Deposits and interest credited to contractholder deposit funds | ||||||
955 | 1,040 | 1,230 | 1,460 | |||
Withdrawals and benefit payments from contractholder deposit funds | ||||||
1,097 | 1,151 | 1,363 | 1,362 | |||
Net change in short-term debt | ||||||
-700 | 1,487 | 80 | -148 | |||
Payments for debt extinguishment | ||||||
3 | 0 | 313 | 0 | |||
Repayment of long-term debt | ||||||
4,491 | 131 | 1,250 | 0 | |||
Net proceeds on issuance of long-term debt | ||||||
0 | 22,856 | 1,581 | 0 | |||
Repurchase of common stock | ||||||
1,987 | 342 | 2,725 | 139 | |||
Issuance of common stock | ||||||
224 | 68 | 131 | 36 | |||
Other, net | ||||||
-107 | -312 | -22 | -72 | |||
NET CASH (USED IN) FINANCING ACTIVITIES | ||||||
-7,187 | 23,515 | -2,651 | -225 | |||
Effect of foreign currency rate changes on cash, cash equivalents and restricted cash | ||||||
-8 | -24 | 55 | -10 | |||
Net (decrease) increase in cash, cash equivalents and restricted cash | ||||||
1,556 | 883 | -213 | 1,217 | |||
Supplemental Disclosure of Cash Information: | ||||||
Income taxes paid, net of refunds | ||||||
1,776 | 1,019 | 1,036 | 1,064 | |||
Interest paid | ||||||
1,645 | 267 | 240 | 244 | |||