10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CHUBB LTD | |||
Ticker: CB Fiscal Year: 2015 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 26, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Cash flows from operating activities | |||
| Net income | $ 2,834 | 2,853 | 3,758 |
| Adjustments to reconcile net income to net cash flows from operating activities | |||
| Net realized (gains) losses | 420 | 507 | (504) |
| Amortization of premiums/discounts on fixed maturities | 158 | 188 | 268 |
| Deferred income taxes | 113 | 145 | 240 |
| Unpaid losses and loss expenses | (375) | 317 | (365) |
| Unearned premiums | 335 | 441 | 402 |
| Future policy benefits | 216 | 236 | 191 |
| Insurance and reinsurance balances payable | 268 | 376 | 176 |
| Accounts payable, accrued expenses, and other liabilities | 179 | 13 | 37 |
| Income taxes payable | (148) | 103 | (45) |
| Insurance and reinsurance balances receivable | (53) | (469) | (624) |
| Reinsurance recoverable on losses and loss expenses | 218 | 119 | 787 |
| Reinsurance recoverable on policy benefits | 33 | 4 | 23 |
| Deferred policy acquisition costs | (435) | (397) | (503) |
| Prepaid reinsurance premiums | (212) | (89) | (31) |
| Other | 313 | 149 | 212 |
| Net cash flows from operating activities | 3,864 | 4,496 | 4,022 |
| Cash flows from investing activities | |||
| Purchases of fixed maturities available for sale | (16,040) | (15,553) | (21,340) |
| Purchases of to be announced mortgage-backed securities | (31) | (58) | |
| Purchases of fixed maturities held to maturity | (62) | (267) | (447) |
| Purchases of equity securities | (158) | (251) | (264) |
| Sales of fixed maturities available for sale | 10,783 | 7,482 | 10,355 |
| Sales of to be announced mortgage-backed securities | 31 | 58 | |
| Sales of equity securities | 183 | 670 | 142 |
| Maturities and redemptions of fixed maturities available for sale | 6,567 | 6,413 | 6,941 |
| Maturities and redemptions of fixed maturities held to maturity | 669 | 875 | 1,488 |
| Net change in short-term investments | (8,216) | (603) | 524 |
| Net derivative instruments settlements | (21) | (230) | (471) |
| Acquisition of subsidiaries (net of cash acquired of $20, $38, and $8) | 264 | (766) | (977) |
| Other | (263) | (274) | (393) |
| Net cash flows used for investing activities | (6,294) | (2,504) | (4,442) |
| Cash flows from financing activities | |||
| Dividends paid on Common Shares | (862) | (862) | (517) |
| Common Shares repurchased | (758) | (1,429) | (287) |
| Proceeds from issuance of long-term debt | 6,090 | 699 | 947 |
| Proceeds from issuance of repurchase agreements | 2,029 | 1,978 | 2,572 |
| Repayment of repurchase agreements | (2,027) | (1,977) | (2,572) |
| Repayments of Long-term Debt | (1,150) | (501) | |
| Proceeds from share-based compensation plans, including windfall tax benefits | 131 | 127 | 135 |
| Additions to Contract Holders Funds | 503 | 366 | 233 |
| Withdrawal from Contract Holders Funds | (221) | (172) | (120) |
| Other | (40) | (6) | 0 |
| Net cash flows (used for) from financing activities | 3,695 | (1,777) | 391 |
| Effect of foreign currency rate changes on cash and cash equivalents | (145) | (139) | (7) |
| Net increase (decrease) in cash | 1,120 | 76 | (36) |
| Cash beginning of year | 655 | 579 [1] | |
| Cash end of year | 1,775 | 655 | 579 [1] |
| Supplemental cash flow information | |||
| Taxes paid | 469 | 349 | 218 |
| Interest paid | 259 | 264 | 253 |
| [1] Chubb maintains two notional multi-currency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2014 and 2013, the cash balance of one or more entities was negative; however, the overall Pool balances were positive. | |||
| External Links | |
| CHUBB LTD (CB) Fiscal Year 2015 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |