Reinsurance group of america, incorporated (RZA)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08
Cash Flows from Operating Activities:
Net Income (Loss) Attributable to Parent

870

716

1,822

701

502

684

418

631

546

535

372

176

Adjustments to reconcile net income to net cash provided by operating activities:
Change in operating assets and liabilities:
Accrued investment income

4

-7

43

18

48

0

69

12

17

18

16

12

Premiums receivable and other reinsurance balances

-110

764

347

156

313

136

106

285

83

111

72

83

Deferred policy acquisition costs

198

107

-154

-31

66

-101

-58

65

241

-61

-55

648

Reinsurance ceded receivable balances

178

-66

124

53

11

-39

-62

-5

-143

53

-18

12

Future policy benefits, other policy claims and benefits, and other reinsurance balances

1,537

1,593

1,321

810

1,867

1,625

1,429

1,792

970

1,580

907

715

Deferred income taxes

211

77

-847

293

148

170

230

198

168

425

-98

47

Other assets and other liabilities, net

-113

163

-242

98

55

17

186

37

104

253

-337

-14

Amortization of net investment premiums, discounts and other

55

57

105

93

77

102

95

83

172

144

134

89

Depreciation, Depletion and Amortization

49

45

53

26

31

15

-

-

-

-

-

-

Gain (Loss) on Investments

91

-170

168

94

-164

186

63

254

-36

212

34

-647

Gain on repurchase of collateral finance notes

-

-

-

-

-

-

46

0

65

0

38

0

Excess tax benefits from share-based payment arrangement

-

-

-

0

2

-3

3

0

4

-2

2

3

Other, net

57

2

-24

-117

49

-140

-99

-85

-134

30

70

-24

Net cash provided by operating activities

2,307

1,581

1,982

1,465

2,088

2,336

1,727

1,974

1,309

1,842

1,364

726

Cash Flows from Investing Activities:
Sales of fixed maturity securities available-for-sale

13,214

9,340

7,309

4,584

5,461

4,309

3,629

5,465

3,165

3,319

2,952

1,771

Maturities of fixed maturity securities available-for-sale

907

627

589

472

439

539

155

145

218

150

66

130

Proceeds from Sale of Available-for-sale Securities, Equity

98

46

207

434

81

361

-

-

-

-

-

-

Payments to Acquire Mortgage Notes Receivable

1,216

1,019

964

1,092

810

721

613

491

209

132

84

4

Payments to Fund Policy Loans

42

45

45

47

52

103

0

58

61

95

67

66

Proceeds from Collection of Policy Loans

82

57

115

88

21

-

-

-

29

3

27

28

Principal payments on policy loans

-

-

-

-

-

-63

-33

-40

4,011

4,854

4,693

2,726

Payments to Acquire Available-for-sale Securities

15,664

9,724

8,941

7,414

5,874

6,129

4,766

6,818

-

-

-

-

Payments to Acquire Available-for-sale Securities, Equity

312

13

81

584

95

72

-

-

-

-

-

-

Proceeds from Sale and Collection of Mortgage Notes Receivable

490

445

340

442

383

479

391

173

92

29

50

60

Increase (Decrease) in Funds Held under Reinsurance Agreements

60

54

23

32

339

86

90

107

37

103

76

89

Payments to Acquire Businesses, Net of Cash Acquired

-4

32

0

0

145

0

2

0

0

-

-

-

Payments to Acquire Property, Plant, and Equipment

34

29

44

44

23

88

0

0

-

-

-

-

Increase (Decrease) in Payables under Repurchase Agreements

-

-

-

-

-101

101

0

0

-

-

-

-

Change in short-term investments

-199

-129

-52

-465

470

-38

-138

101

-30

-

-

-

Change in other invested assets

304

365

122

97

-91

2

209

216

122

37

114

177

Net cash (used in) provided by investing activities

-2,638

-637

-1,608

-2,825

-1,431

-1,310

-1,335

-1,967

-905

-1,720

-1,939

-1,073

Cash Flows from Financing Activities:
Dividends to stockholders

163

140

117

100

93

87

77

61

44

35

26

23

Proceeds from (Repayments of) Secured Debt

-91

-96

-68

-64

-19

0

-119

0

-

-

-

-

Proceeds from Issuance of Secured Debt

-

-

-

-

164

300

0

0

-

-

-

-

Repurchase and repayment of collateral finance facility securities

-

-

-

-

-

-

-

-

130

0

0

-

Proceeds from long-term debt issuance

599

0

0

799

0

100

398

400

397

0

396

0

Debt issuance costs

5

0

0

8

4

4

3

6

3

0

-

-

Principal payments of long-term debt

403

3

303

2

2

0

0

0

200

-

-

-

Repayments of Long-term Debt

-

-

-

-

-

-

-

-

-

-

-

0

Proceeds from redemption and remarketing of trust preferred securities

-

-

-

-

-

-

-

-

154

0

0

-

Maturity of trust preferred securities

-

-

-

-

-

-

-

-

159

0

0

-

Net repayments under credit agreements

-

-

-

-

-

-

-

-

-

0

22

0

Retirement of preferred income equity redeemable securities

-

-

-

-

-

-

-

-

-

-

-

331

Purchases of treasury stock

101

300

44

122

384

201

269

6

380

0

1

3

Excess tax benefits from share-based payment arrangement

-

-

-

0

2

-3

3

0

4

-2

2

3

Exercise of stock options, net

6

3

7

15

11

9

28

-3

6

2

6

6

Change in cash collateral for derivative positions and other arrangements

-163

44

-65

26

52

162

-73

-132

231

26

-175

129

Deposits on universal life and other investment type policies and contracts

1,309

864

1,018

1,041

277

150

201

457

367

124

272

665

Withdrawals on universal life and other investment type policies and contracts

1,109

694

752

529

711

681

770

365

142

308

216

270

Early Repayment of Subordinated Debt

-

-

-

-

-

-

-

-

-

0

39

-

Net cash (used in) provided by financing activities

-121

-322

-324

1,055

-708

-255

-681

281

101

-193

194

841

Effect of exchange rate changes on cash

11

-36

53

-19

-68

-47

-47

8

-6

22

16

-23

Cash and Cash Equivalents, Period Increase (Decrease)

-441

586

103

-324

-120

722

-336

297

499

-48

-363

471

Supplemental disclosures of cash flow information:
Interest paid

180

170

173

156

148

136

116

100

100

95

72

99

Income Taxes Paid, Net

44

142

37

61

41

70

110

97

129

10

25

23

Transfer to Investments

6,275

4,636

3,286

120

2,092

2,001

0

4,861

-

-

-

-

Capital Expenditures Incurred but Not yet Paid

1

0

0

-

0

24

0

0

-

-

-

-