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: 2018 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 28, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Cash flows from operating activities | |||
| Net income | $ 3,962 | 3,861 | 4,135 |
| Adjustments to reconcile net income to net cash flows from operating activities | |||
| Realized Gain (Loss) | 652 | ||
| Realized Investment Gains (Losses) | (84) | 145 | |
| Amortization of premiums/discounts on fixed maturities | 592 | 694 | 737 |
| Amortization of purchased intangibles | 339 | 260 | 1,578 |
| Deferred income taxes | 16 | (527) | 96 |
| Unpaid losses and loss expenses | 570 | 2,137 | 332 |
| Unearned premiums | 654 | 264 | (680) |
| Future policy benefits | 235 | 217 | 188 |
| Insurance and reinsurance balances payable | 722 | 271 | 848 |
| Accounts payable, accrued expenses, and other liabilities | 375 | (517) | (97) |
| Income taxes payable | 161 | (365) | 147 |
| Insurance and reinsurance balances receivable | (981) | (243) | (616) |
| Reinsurance recoverable | (1,165) | (1,248) | (358) |
| Deferred policy acquisition costs | (301) | (317) | (1,449) |
| Other | (351) | 100 | 286 |
| Net cash flows from operating activities | 5,480 | 4,503 | 5,292 |
| Cash flows from investing activities | |||
| Purchases of fixed maturities available for sale | (24,700) | (25,720) | (30,759) |
| Purchases of to be announced mortgage-backed securities | (35) | (27) | (56) |
| Purchases of fixed maturities held to maturity | (456) | (352) | (282) |
| Payments to acquire equity securities | (207) | ||
| Purchases of equity securities | (207) | (173) | (146) |
| Sales of fixed maturities available for sale | 14,001 | 13,228 | 16,621 |
| Sales of to be announced mortgage-backed securities | 29 | 27 | 56 |
| Proceeds from Sale of Equity Securities | 315 | ||
| Sales of equity securities | 315 | 187 | 1,000 |
| Maturities and redemptions of fixed maturities available for sale | 7,352 | 10,425 | 9,349 |
| Maturities and redemptions of fixed maturities held to maturity | 1,124 | 879 | 958 |
| Net change in short-term investments | 516 | (537) | 12,350 |
| Net derivative instruments settlements | 16 | (265) | (168) |
| Private equity contributions | (1,337) | (648) | (553) |
| Private equity distributions | 980 | 1,084 | 958 |
| Acquisition of subsidiaries (net of cash acquired of $X, nil, and $71) | (14,248) | ||
| Other | (533) | (530) | (402) |
| Net cash flows used for investing activities | (2,935) | (2,422) | (5,322) |
| Cash flows from financing activities | |||
| Dividends paid on Common Shares | (1,337) | (1,308) | (1,173) |
| Common Shares repurchased | (1,044) | (801) | |
| Proceeds from issuance of long-term debt | 2,171 | 0 | |
| Proceeds from issuance of repurchase agreements | 2,029 | 2,353 | 2,310 |
| Repayments of Long-term Debt | (2,001) | (501) | 0 |
| Repayment of repurchase agreements | (2,019) | (2,348) | (2,311) |
| Proceeds from share-based compensation plans | 115 | 151 | 167 |
| Policyholder contract deposits | 453 | 442 | 522 |
| Policyholder contract withdrawals | (358) | (307) | (253) |
| Other | 0 | 0 | (4) |
| Net cash flows used for financing activities | (1,991) | (2,319) | (742) |
| Effect of foreign currency rate changes on cash and restricted cash | (65) | 1 | (25) |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | 489 | (237) | (797) |
| Cash and restricted cash - beginning of year | 851 | 1,088 | |
| Cash and restricted cash - end of year | 1,340 [1] | 851 | 1,088 |
| Supplemental cash flow information | |||
| Taxes paid | 503 | 736 | 662 |
| Interest paid | 621 | 644 | 642 |
| [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, 2018 and 2017, the cash balance of one or more entities was negative; however, the overall Pool balances were positive. | |||
| External Links | |
| CHUBB LTD (CB) Fiscal Year 2018 | |
| 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 |