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: 2013 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 28, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Cash Flows from Operating Activities | |||
| Net Income | $ 2,345 | 1,545 | 1,678 |
| Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities | |||
| Increase (Decrease) in Unpaid Losses and Loss Expenses, Net | (582) | 691 | 361 |
| Increase in Unearned Premiums, Net | 158 | 32 | 114 |
| Increase in Premiums Receivable | (99) | (24) | (63) |
| Change in Income Tax Payable or Recoverable | 93 | (53) | (102) |
| Amortization of Premiums and Discounts on Fixed Maturities | 183 | 163 | 147 |
| Depreciation | 55 | 54 | 58 |
| Realized Investment Gains, Net | (402) | (193) | (288) |
| Other, Net | (20) | 84 | (27) |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 1,731 | 2,299 | 1,878 |
| Cash Flows from Investing Activities | |||
| Proceeds from Fixed Maturities - Sales | 2,449 | 2,271 | 1,730 |
| Proceeds from Fixed Maturities - Maturities, Calls and Redemptions | 4,909 | 4,290 | 3,540 |
| Proceeds from Sales of Equity Securities | 545 | 160 | 167 |
| Purchases of Fixed Maturities | (8,275) | (7,247) | (5,014) |
| Purchases of Equity Securities | (113) | (112) | (95) |
| Investments in Other Invested Assets, Net | 498 | 293 | 285 |
| Decrease (Increase) in Short Term Investments, Net | 383 | (629) | 11 |
| Change in Receivable or Payable from Security Transactions not Settled, Net | (86) | 45 | 8 |
| Purchases of Property and Equipment, Net | (52) | (43) | (52) |
| Other, Net | (6) | ||
| NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 252 | (972) | 580 |
| Cash Flows from Financing Activities | |||
| Repayment of Long Term Debt | (275) | (400) | |
| Increase (Decrease) in Funds Held under Deposit Contracts | (6) | (12) | 7 |
| Proceeds from Issuance of Common Stock Under Stock-Based Employee Compensation Plans | 38 | 74 | 80 |
| Repurchase of Shares | (1,288) | (959) | (1,707) |
| Dividends Paid to Shareholders | (450) | (438) | (450) |
| NET CASH USED IN FINANCING ACTIVITIES | (1,981) | (1,335) | (2,470) |
| Net Increase (Decrease) in Cash | 2 | (8) | (12) |
| Cash at Beginning of Year | 50 | 58 | |
| CASH AT END OF YEAR | 52 | 50 | 58 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CHUBB LTD | |||
Ticker: CB Fiscal Year: 2013 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 28, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Cash flows from operating activities | |||
| Net income | $ 3,758 | 2,706 | 1,540 |
| Adjustments to reconcile net income to net cash flows from operating activities | |||
| Net realized (gains) losses | (504) | (78) | 795 |
| Amortization of premiums/discounts on fixed maturities | 268 | 220 | 152 |
| Deferred income taxes | 240 | (7) | 15 |
| Unpaid losses and loss expenses | (365) | 203 | 43 |
| Unearned premiums | 402 | 522 | 9 |
| Future policy benefits | 191 | 158 | 78 |
| Insurance and reinsurance balances payable | 176 | (151) | 216 |
| Accounts payable, accrued expenses, and other liabilities | 37 | (42) | 39 |
| Income taxes payable | (45) | (167) | 39 |
| Insurance and reinsurance balances receivable | (624) | 335 | (217) |
| Reinsurance recoverable on losses and loss expenses | 787 | 372 | 531 |
| Reinsurance recoverable on policy benefits | 23 | 52 | 25 |
| Deferred policy acquisition costs | (503) | (340) | (122) |
| Prepaid reinsurance premiums | (31) | (123) | (34) |
| Other | 212 | 335 | 361 |
| Net cash flows from operating activities | 4,022 | 3,995 | 3,470 |
| Cash flows from investing activities | |||
| Purchases of fixed maturities available for sale | (21,340) | (23,572) | (23,523) |
| Purchases of to be announced mortgage-backed securities | (58) | (389) | (755) |
| Purchases of fixed maturities held to maturity | (447) | (388) | (340) |
| Purchases of equity securities | (264) | (135) | (309) |
| Sales of fixed maturities available for sale | 10,355 | 14,321 | 17,176 |
| Sales of to be announced mortgage-backed securities | 58 | 448 | 795 |
| Sales of equity securities | 142 | 119 | 376 |
| Maturities and redemptions of fixed maturities available for sale | 6,941 | 5,523 | 3,720 |
| Maturities and redemptions of fixed maturities held to maturity | 1,488 | 1,451 | 1,279 |
| Net change in short-term investments | 524 | 117 | (300) |
| Net derivative instruments settlements | (471) | (281) | (67) |
| Acquisition of subsidiaries (net of cash acquired of $38, $8, and $91) | (977) | (98) | (606) |
| Other | (393) | (555) | (482) |
| Net cash flows used for investing activities | (4,442) | (3,439) | (3,036) |
| Cash flows from financing activities | |||
| Dividends paid on Common Shares | (517) | (815) | (459) |
| Common Shares repurchased | (287) | (11) | (195) |
| Proceeds from issuance of long-term debt | 947 | ||
| Proceeds from issuance of short-term debt | 2,572 | 2,933 | 5,238 |
| Repayment of short-term debt | (2,572) | (2,783) | (5,288) |
| Proceeds from share-based compensation plans, including windfall tax benefits | 135 | 126 | 139 |
| Other | 113 | ||
| Net cash flows from (used for) financing activities | 391 | (550) | (565) |
| Effect of foreign currency rate changes on cash and cash equivalents | (7) | (5) | (27) |
| Net increase (decrease) in cash | (36) | 1 | (158) |
| Cash beginning of year | 615 | 614 [1] | |
| Cash end of year | 579 | 615 | 614 [1] |
| Supplemental cash flow information | |||
| Taxes paid | 218 | 438 | 460 |
| Interest paid | 253 | 240 | 234 |
| [1] ACE maintains two notional multi-currency cash pools (Pools) with a third-party bank. Refer to Note 1 f) for additional information. At December 31, 2012, the cash balance of one or more entities was negative; however, the overall Pool balances were positive. | |||
| External Links | |
| CHUBB LTD (CB) Fiscal Year 2013 | |
| 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 |