10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
CIGNA CORP | |||
Ticker: CI Fiscal Year: 2013 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 27, 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 | $ 1,478 | 1,624 | 1,261 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 597 | 560 | 345 |
| Realized investment (gains) losses | (213) | (44) | (62) |
| Deferred income taxes | 197 | 134 | 217 |
| Gains on sale of businesses (excluding discontinued operations) | (15) | (18) | (25) |
| Net changes in assets and liabilities, net of non-operating effects: | |||
| Premiums, accounts and notes receivable | (110) | (71) | (50) |
| Reinsurance recoverables | 369 | 62 | 19 |
| Deferred policy acquisition costs | (227) | (159) | (129) |
| Other assets | 405 | 31 | (307) |
| Insurance liabilities | 1,040 | 245 | 154 |
| Accounts payable, accrued expenses and other liabilities | (483) | (132) | 344 |
| Current income taxes | (56) | 29 | (246) |
| Cash used to exit Run-off Reinsurance business | (2,196) | 0 | 0 |
| Proceeds from sales of mortgage loans held for sale | 0 | 61 | 0 |
| Other, net | (67) | 28 | (30) |
| Net cash provided by operating activities | 719 | 2,350 | 1,491 |
| Cash Flows from Investing Activities | |||
| Proceeds from investments sold: | |||
| Fixed maturities | 1,767 | 583 | 830 |
| Equity securities | 8 | 8 | 16 |
| Other (primarily short-term and other long-term investments) | 1,661 | 831 | 1,915 |
| Investment maturities and repayments: | |||
| Fixed maturities | 1,593 | 1,507 | 1,265 |
| Equity securities | 28 | 0 | 30 |
| Commercial mortgage loans | 653 | 722 | 638 |
| Investments purchased or originated: | |||
| Fixed maturities | (3,006) | (2,326) | (2,877) |
| Equity securities | (56) | (8) | (20) |
| Commercial mortgage loans | (58) | (364) | (487) |
| Other (primarily short-term and other long-term investments) | (1,930) | (821) | (2,056) |
| Property and equipment purchases | (527) | (408) | (422) |
| Acquisitions, net of cash acquired | (76) | (3,581) | (102) |
| Other | (42) | 0 | 0 |
| Net cash provided by/ (used in) investing activities | 15 | (3,857) | (1,270) |
| Cash Flows from Financing Activities | |||
| Deposits and interest credited to contractholder deposit funds | 1,399 | 1,337 | 1,323 |
| Withdrawals and benefit payments from contractholder deposit funds | (1,358) | (1,264) | (1,178) |
| Change in cash overdraft position | 16 | 25 | (1) |
| Net change in short-term debt | (101) | 98 | 0 |
| Net proceeds on issuance of long-term debt | 0 | 0 | 2,676 |
| Repayment of long-term debt | (15) | (326) | (451) |
| Repurchase of common stock | (1,003) | (208) | (225) |
| Issuance of common stock | 150 | 121 | 734 |
| Common dividends paid | (11) | (11) | (11) |
| Distributions to redeemable noncontrolling interest | (7) | 0 | 0 |
| Net cash (used in) / provided by financing activities | (930) | (228) | 2,867 |
| Effect of foreign currency rate changes on cash and cash equivalents | 13 | 23 | (3) |
| Net increase (decrease) in cash and cash equivalents | (183) | (1,712) | 3,085 |
| Cash and cash equivalents, beginning of year | 2,978 | 4,690 | |
| Cash and cash equivalents, end of year | 2,795 | 2,978 | 4,690 |
| Supplemental Disclosure of Cash Information: | |||
| Income taxes paid, net of refunds | 519 | 655 | 633 |
| Interest paid | 265 | 248 | 185 |
| External Links | |
| CIGNA CORP (CI) 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 |