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: 2021 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 24, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Cash flows from operating activities | |||
| Net income | $ 8,539 | 3,533 | 4,454 |
| Adjustments to reconcile net income to net cash flows from operating activities | |||
| Net Realized Gains Losses | (1,152) | 498 | 530 |
| Accretion (Amortization) of Discounts and Premiums, Investments | 332 | 367 | 395 |
| Amortization of purchased intangibles | 287 | 290 | 305 |
| Deferred income taxes | (74) | (333) | (97) |
| Unpaid losses and loss expenses | 5,791 | 4,664 | (257) |
| Unearned premiums | 1,857 | 846 | 1,051 |
| Future policy benefits | 239 | 236 | 215 |
| Insurance and reinsurance balances payable | 582 | 535 | (302) |
| Accounts payable, accrued expenses, and other liabilities | 536 | (98) | (207) |
| Income taxes payable | 48 | 46 | (7) |
| Insurance and reinsurance balances receivable | (984) | (114) | (270) |
| Reinsurance recoverable | (1,953) | (336) | 838 |
| Deferred policy acquisition costs | (247) | (89) | (344) |
| Equity in net income of subsidiaries and affiliates | (2,433) | (1,019) [1] | (617) |
| Other | (219) | 759 | 655 |
| Net Cash Provided by (Used in) Operating Activities, Total | 11,149 | 9,785 | 6,342 |
| Cash flows from investing activities | |||
| Purchases of fixed maturities available for sale | (30,222) | (26,298) | (25,846) |
| Purchases of fixed maturities held to maturity | (594) | (202) | (229) |
| Purchases of equity securities | (1,167) | (6,419) | (531) |
| Sales of fixed maturities available for sale | 6,596 | 11,377 | 13,110 |
| Sales of to be announced mortgage-backed securities | 0 | 0 | 6 |
| Sales of equity securities | 1,018 | 3,880 | 611 |
| Maturities and redemptions of fixed maturities available for sale | 17,361 | 12,450 | 9,039 |
| Maturities and redemptions of fixed maturities held to maturity | 1,964 | 995 | 946 |
| Net change in short-term investments | 1,175 | (81) | (1,117) |
| Net derivative instruments settlements | (219) | (113) | (703) |
| Private equity contributions | (2,471) | (1,924) | (1,315) |
| Private equity distributions | 1,421 | 907 | 1,390 |
| Acquisition of subsidiaries (net of cash acquired of nil, $45, and nil) | 0 | 0 | (29) |
| Payment, including deposit, for Huatai Group Interest | (1,184) | (1,623) | (580) |
| Other | (337) | (470) | (657) |
| Net Cash Provided by (Used in) Investing Activities | (6,659) | (7,521) | (5,905) |
| Cash flows from financing activities | |||
| Dividends paid on Common Shares | (1,401) | (1,388) | (1,354) |
| Common Shares repurchased | (4,861) | (523) | (1,530) |
| Proceeds from issuance of long-term debt | 1,576 | 988 | 2,828 |
| Proceeds from issuance of repurchase agreements | 1,858 | 2,354 | 2,817 |
| Repayments of Long-term Debt | 0 | (1,301) | (510) |
| Repayment of repurchase agreements | (1,858) | (2,354) | (2,817) |
| Proceeds from share-based compensation plans | 300 | 145 | 204 |
| Policyholder contract deposits | 512 | 470 | 514 |
| Policyholder contract withdrawals | (454) | (386) | (303) |
| Other | (81) | (87) | 0 |
| Net cash flows (used for) from financing activities | (4,409) | (2,082) | (151) |
| Effect of foreign currency rate changes on cash and restricted cash | (106) | 8 | 20 |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | (25) | 190 | 306 |
| Cash and restricted cash - beginning of year | 1,836 | 1,646 | |
| Cash and restricted cash - end of year | 1,811 | 1,836 | 1,646 |
| Supplemental cash flow information | |||
| Taxes paid | 1,298 | 902 | 912 |
| Interest paid | 492 | 524 | 512 |
| [1] Equity in net income of partially-owned entities includes $233 million, $167 million, and $74 million attributable to our investments in Huatai (Huatai Group, Huatai P&C, and Huatai Life) for the years ended December 31, 2021, 2020, and 2019, respectively. | |||
| External Links | |
| CHUBB LTD (CB) Fiscal Year 2021 | |
| 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 |