The Hartford 2014 Annual Report Download - page 141

Table of Contents
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Consolidated Statements of Cash Flows
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(In millions)   
Operating Activities
Net income (loss) $ 798 $ 176 $ (38)
Adjustments to reconcile net income to net cash provided by operating activities
Amortization of deferred policy acquisition costs and present value of future profits 1,729 2,701 1,988
Additions to deferred policy acquisition costs and present value of future profits (1,364) (1,330) (1,639)
Change in reserve for future policy benefits and unpaid losses and loss adjustment expenses and unearned premiums 226 (308) (226)
Change in reinsurance recoverables (22) (561) (351)
Change in receivables and other assets (122) (409) (257)
Change in payables and accruals (937) 497 874
Change in accrued and deferred income taxes 328 (526) (386)
Net realized capital (gains) losses 141 (1,149) 711
Net disbursements from investment contracts related to policyholder funds — international variable annuities (3,993) (9,189) (1,539)
Net decrease in equity securities, trading 3,993 9,188 1,566
Depreciation and amortization 276 189 467
Loss on extinguishment of debt — 213 910
Reinsurance (gain) loss on disposition in 2014 and 2013, goodwill impairment of $342 in 2012, and premium deficiency of $191 in
2012 (23) 1,574 533
Loss on sale of business 653 102 1
Other operating activities, net 203 69 67
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Investing Activities
Proceeds from the sale/maturity/prepayment of:
Fixed maturities, available-for-sale 25,309 40,266 42,716
Fixed maturities, fair value option 401 322 283
Equity securities, available-for-sale 354 274 295
Mortgage loans 646 468 515
Partnerships 490 368 208
Payments for the purchase of:
Fixed maturities, available-for-sale (22,545) (35,446) (42,578)
Fixed maturities, fair value option (369) (150) (182)
Equity securities, available-for-sale (683) (212) (144)
Mortgage loans (604) (718) (1,483)
Partnerships (312) (353) (903)
Proceeds from business sold 963 815 58
Derivatives, net 10 (2,208) (2,665)
Change in policy loans, net (11) (5) 4
Additions to property and equipment, net (121) (64) (66)
Change in short-term investments, net (1,814) 318 1,400
Other investing activities, net (18) 70 (15)
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Financing Activities
Deposits and other additions to investment and universal life-type contracts 5,289 5,942 10,951
Withdrawals and other deductions from investment and universal life-type contracts (21,870) (25,034) (25,543)
Net transfers from separate accounts related to investment and universal life-type contracts 14,366 16,978 13,196
Repayments at maturity or settlement of consumer notes (13) (77) (153)
Net increase (decrease) in securities loaned or sold under agreements to repurchase — (1,988) 1,988
Repurchase of Warrants — (33) (300)
Repayment of long-term and short-term debt (200) (1,338) (2,133)
Proceeds from the issuance of long-term and short-term debt — 533 2,123
Proceeds from net issuance of shares under incentive and stock compensation plans, excess tax benefit and other 30 20 14
Treasury stock acquired (1,796) (600) (154)
Dividends paid on preferred stock — (21) (42)
Dividends paid on common stock (282) (202) (175)
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Foreign exchange rate effect on cash (135) (155) (56)
Net decrease in cash (1,029) (993) (160)
Cash — beginning of period 1,428 2,421 2,581
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Supplemental Disclosure of Cash Flow Information