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: 2022 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 24, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Cash flows from operating activities | |||
| Net income | $ 5,313 | 8,539 | 3,533 |
| Adjustments to reconcile net income to net cash flows from operating activities | |||
| Net Realized Gains Losses | 965 | (1,152) | 498 |
| Accretion (Amortization) of Discounts and Premiums, Investments | 189 | 332 | 367 |
| Amortization of purchased intangibles | 285 | 287 | 290 |
| Deferred income taxes | 132 | (74) | (333) |
| Equity in net income of subsidiaries and affiliates | (16) [1] | (2,433) | (1,019) |
| Unpaid losses and loss expenses | 4,222 | 5,791 | 4,664 |
| Unearned premiums | 1,477 | 1,857 | 846 |
| Future policy benefits | 464 | 239 | 236 |
| Insurance and reinsurance balances payable | 461 | 582 | 535 |
| Accounts payable, accrued expenses, and other liabilities | 223 | 536 | (98) |
| Income taxes payable | (149) | 48 | 46 |
| Insurance and reinsurance balances receivable | (696) | (984) | (114) |
| Reinsurance recoverable | (1,776) | (1,953) | (336) |
| Deferred policy acquisition costs | (328) | (247) | (89) |
| Other | 477 | (219) | 759 |
| Net Cash Provided by (Used in) Operating Activities, Total | 11,243 | 11,149 | 9,785 |
| Cash flows from investing activities | |||
| Purchases of fixed maturities available for sale | (27,844) | (30,222) | (26,298) |
| Purchases of fixed maturities held to maturity | (618) | (594) | (202) |
| Purchases of equity securities | (895) | (1,167) | (6,419) |
| Sales of fixed maturities available for sale | 16,855 | 6,596 | 11,377 |
| Sales of equity securities | 4,615 | 1,018 | 3,880 |
| Maturities and redemptions of fixed maturities available for sale | 9,415 | 17,361 | 12,450 |
| Maturities and redemptions of fixed maturities held to maturity | 1,712 | 1,964 | 995 |
| Net change in short-term investments | (1,452) | 1,175 | (81) |
| Net derivative instruments settlements | (84) | (219) | (113) |
| Private equity contributions | (2,649) | (2,471) | (1,924) |
| Private equity distributions | 1,017 | 1,421 | 907 |
| Acquisition of subsidiaries (net of cash acquired of $366, nil, and nil) | (4,982) | 0 | 0 |
| Payment, including deposit, for Huatai Group Interest | (184) | (1,184) | (1,623) |
| Other | (560) | (337) | (470) |
| Net Cash Provided by (Used in) Investing Activities | (5,654) | (6,659) | (7,521) |
| Cash flows from financing activities | |||
| Dividends paid on Common Shares | (1,375) | (1,401) | (1,388) |
| Common Shares repurchased | (2,894) | (4,861) | (523) |
| Proceeds from issuance of long-term debt | 0 | 1,576 | 988 |
| Proceeds from issuance of repurchase agreements | 4,510 | 1,858 | 2,354 |
| Repayments of Long-term Debt | (1,000) | 0 | (1,301) |
| Repayment of repurchase agreements | (4,508) | (1,858) | (2,354) |
| Proceeds from share-based compensation plans | 264 | 300 | 145 |
| Policyholder contract deposits | 496 | 512 | 470 |
| Policyholder contract withdrawals | (519) | (454) | (386) |
| Tax withholding payments for share-based compensation plans | (101) | (81) | (87) |
| Net cash flows (used for) from financing activities | (5,127) | (4,409) | (2,082) |
| Effect of foreign currency rate changes on cash and restricted cash | (146) | (106) | 8 |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | 316 | (25) | 190 |
| Cash and restricted cash - beginning of year | 1,811 | 1,836 | |
| Cash and restricted cash - end of year | 2,127 | 1,811 | 1,836 |
| Supplemental cash flow information | |||
| Taxes paid | 1,242 | 1,298 | 902 |
| Interest paid | 552 | 492 | 524 |
| [1] Equity in net income (loss) of partially-owned entities includes mark-to-market gain (loss) on private equities where we own more than three percent, totaling $(219) million, $2,004 million, and $747 million for the years ended December 31, 2022, 2021, and 2020, respectively. This line item also includes net income of $5 million, $233 million, and $167 million attributable to our investments in Huatai for the years ended December 31, 2022, 2021, and 2020, respectively. | |||
| External Links | |
| CHUBB LTD (CB) Fiscal Year 2022 | |
| 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 |