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: 2010 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 25, 2011) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Cash Flows from Operating Activities | |||
| Net Income | $ 2,174 | 2,183 | 1,804 |
| Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities | |||
| Increase in Unpaid Losses and Loss Expenses, Net | 145 | 262 | 389 |
| Increase (Decrease) in Unearned Premiums, Net | 21 | (254) | (46) |
| Decrease in Premiums Receivable | 3 | 100 | 26 |
| Decrease in Reinsurance Recoverable on Paid Losses | 23 | 6 | 148 |
| Change in Income Tax Recoverable or Payable | 178 | (27) | (80) |
| Deferred Income Tax (Credit) | 136 | 86 | (56) |
| Amortization of Premiums and Discounts on Fixed Maturities | 175 | 186 | 206 |
| Depreciation | 63 | 69 | 64 |
| Realized Investment Losses (Gains), Net | (426) | (23) | 371 |
| Other, Net | (140) | (153) | (282) |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 2,352 | 2,435 | 2,544 |
| Cash Flows from Investing Activities | |||
| Proceeds from Fixed Maturities - Sales | 2,287 | 3,029 | 4,145 |
| Proceeds from Fixed Maturities - Maturities, Calls and Redemptions | 2,856 | 2,578 | 2,173 |
| Proceeds from Sales of Equity Securities | 129 | 394 | 432 |
| Purchases of Fixed Maturities | (5,197) | (7,390) | (7,125) |
| Purchases of Equity Securities | (156) | (37) | (191) |
| Investments in Other Invested Assets, Net | 173 | (37) | (45) |
| Decrease (Increase) in Short Term Investments, Net | 38 | 563 | (654) |
| Increase (Decrease) in Net Payable from Security Transactions not Settled | (24) | 72 | (18) |
| Purchases of Property and Equipment, Net | (54) | (52) | (46) |
| Other, Net | (6) | 6 | 3 |
| NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 46 | (874) | (1,326) |
| Cash Flows from Financing Activities | |||
| Proceeds from Issuance of Long Term Debt | 0 | 0 | 1,200 |
| Repayment of Long Term Debt | 0 | 0 | (685) |
| Increase (Decrease) in Funds Held under Deposit Contracts | 22 | (53) | (19) |
| Proceeds from Issuance of Common Stock Under Stock-Based Employee Compensation Plans | 74 | 34 | 109 |
| Repurchase of Shares | (2,003) | (1,060) | (1,336) |
| Dividends Paid to Shareholders | (472) | (487) | (471) |
| Other, Net | 0 | 0 | (9) |
| NET CASH USED IN FINANCING ACTIVITIES | (2,379) | (1,566) | (1,211) |
| Net Increase (Decrease) in Cash | 19 | (5) | 7 |
| Cash at Beginning of Year | 51 | 56 | |
| CASH AT END OF YEAR | 70 | 51 | 56 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CHUBB LTD | |||
Ticker: CB Fiscal Year: 2010 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 25, 2011) | |||
| (In Dollars) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Cash flows from operating activities: | |||
| Net income (loss) | $ 3,108,000,000 | 2,549,000,000 | 1,197,000,000 |
| Adjustments to reconcile net income to net cash flows from operating activities | |||
| Net realized (gains) losses | (432,000,000) | 196,000,000 | 1,633,000,000 |
| Amortization of premiums/discounts on fixed maturities | 145,000,000 | 53,000,000 | (1,000,000) |
| Deferred income taxes | 116,000,000 | (19,000,000) | (141,000,000) |
| Unpaid losses and loss expenses (cash flow) | (360,000,000) | 298,000,000 | 1,300,000,000 |
| Unearned premiums (cash flow) | 262,000,000 | 102,000,000 | (128,000,000) |
| Future policy benefits (cash flow) | 48,000,000 | 67,000,000 | 212,000,000 |
| Insurance and reinsurance balances payable (cash flow) | (172,000,000) | 434,000,000 | (26,000,000) |
| Accounts payable, accrued expenses, and other liabilities (cash flow) | 130,000,000 | (206,000,000) | 638,000,000 |
| Income taxes payable (cash flow) | 10,000,000 | 13,000,000 | 46,000,000 |
| Insurance and reinsurance balances receivable (cash flow) | 50,000,000 | (119,000,000) | (6,000,000) |
| Reinsurance recoverable on losses and loss expenses (cash flow) | 626,000,000 | 518,000,000 | (224,000,000) |
| Reinsurance recoverable on policy benefits (cash flow) | 49,000,000 | (51,000,000) | (9,000,000) |
| Deferred policy acquisition costs (cash flow) | (193,000,000) | (309,000,000) | (185,000,000) |
| Prepaid reinsurance premiums (cash flow) | (13,000,000) | 24,000,000 | (15,000,000) |
| Other cash flows from operating activities | 172,000,000 | (215,000,000) | (190,000,000) |
| Net cash flows from operating activities | 3,546,000,000 | 3,335,000,000 | 4,101,000,000 |
| Cash flows used for investing activities: | |||
| Purchases of fixed maturities available for sale | (29,985,000,000) | (31,789,000,000) | (24,537,000,000) |
| Purchases of to be announced mortgage-backed securities | (1,271,000,000) | (5,471,000,000) | (18,969,000,000) |
| Purchases of fixed maturities held to maturity | (616,000,000) | (472,000,000) | (366,000,000) |
| Purchases of equity securities | (794,000,000) | (354,000,000) | (971,000,000) |
| Sales of fixed maturities available for sale | 23,096,000,000 | 23,693,000,000 | 21,087,000,000 |
| Sales of to be announced mortgage-backed securities | 1,183,000,000 | 5,961,000,000 | 18,340,000,000 |
| Sales of fixed maturities held to maturity | 11,000,000 | ||
| Sales of equity securities | 774,000,000 | 1,272,000,000 | 1,164,000,000 |
| Maturities and redemptions of fixed maturities available for sale | 3,660,000,000 | 3,404,000,000 | 2,780,000,000 |
| Maturities and redemptions of fixed maturities held to maturity | 1,353,000,000 | 514,000,000 | 445,000,000 |
| Net derivative instruments settlements | (109,000,000) | (92,000,000) | 32,000,000 |
| Acquisition of subsidiaries (net of cash acquired of $80 in 2010 and $19 in 2008) | (1,139,000,000) | (2,521,000,000) | |
| Other cash flows from investing activities | (333,000,000) | 99,000,000 | (608,000,000) |
| Net cash flows from (used for) investing activities | (4,181,000,000) | (3,224,000,000) | (4,124,000,000) |
| Cash flows (used for) from financing activities: | |||
| Dividends paid on Common Shares | (435,000,000) | (388,000,000) | (362,000,000) |
| Common Shares repurchased (cash flow) | (235,000,000) | ||
| Proceeds from issuance of short term debt | 1,300,000,000 | 266,000,000 | |
| Repayment of short-term debt | (159,000,000) | (466,000,000) | (355,000,000) |
| Proceeds from issuance of long term debt | 699,000,000 | 500,000,000 | 1,245,000,000 |
| Repayment of long-term debt | (500,000,000) | ||
| Proceeds from exercise of options for Common Shares | 53,000,000 | 15,000,000 | 97,000,000 |
| Proceeds from Common Shares issued under Employee Stock Purchase Plan (ESPP) | 10,000,000 | 10,000,000 | 10,000,000 |
| Tax benefit on share-based compensation expense | (1,000,000) | 8,000,000 | 12,000,000 |
| Dividends on Preferred Shares | (24,000,000) | ||
| Redemption of Preferred Shares | (575,000,000) | ||
| Net cash flows (used for) from financing activities | 732,000,000 | (321,000,000) | 314,000,000 |
| Effect of foreign currency rate changes on cash and cash equivalents: | |||
| Effect of foreign currency rate changes on cash and cash equivalents | 6,000,000 | 12,000,000 | 66,000,000 |
| Cash: | |||
| Net (decrease) increase in cash | 103,000,000 | (198,000,000) | 357,000,000 |
| Cash - beginning of period | 669,000,000 | 867,000,000 | |
| Cash - end of period | 772,000,000 | 669,000,000 | 867,000,000 |
| Supplement cash flow disclosures | |||
| Taxes paid (cash flow) | 434,000,000 | 538,000,000 | 403,000,000 |
| Interest paid (cash flow) | 204,000,000 | 228,000,000 | 226,000,000 |
| External Links | |
| CHUBB LTD (CB) Fiscal Year 2010 | |
| 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 |