Aetna 2002 Annual Report Download - page 39

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 
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Years Ended December 31,
(Millions) 2002 2001 2000
Cash flows from operating activities:
Net income (loss) $ (2,522.5) $ (279.6) $ 127.1
Adjustments to reconcile net income (loss) to net cash provided by
(used for) operating activities:
Cumulative effect adjustments 2,965.7 (.7) —
Income from discontinued operations (50.0) (11.4) (254.5)
Severance and facilities charges 161.0 192.5 142.5
Goodwill write-off — — 310.2
Amortization of goodwill — 198.1 204.9
Amortization of other acquired intangible assets 130.8 218.5 230.7
Depreciation and other amortization 170.7 181.0 190.1
Amortization (accretion) of net investment premium (discount) 11.3 (26.3) (37.8)
Net realized capital (gains) losses (34.3) (96.1) 40.1
Changes in assets and liabilities:
Decrease in accrued investment income 18.0 28.0 9.2
Decrease in premiums due and other receivables 352.9 495.8 115.2
Net change in income taxes 218.4 (230.8) (13.9)
Net change in other assets and other liabilities (64.8) (271.0) (231.9)
Net decrease in health care and insurance liabilities (1,046.7) (432.0) (762.3)
Other, net (4.1) — —
Discontinued operations, net — — 1,457.0
Net cash provided by (used for) operating activities 306.4 (34.0) 1,526.6
Cash flows from investing activities:
Proceeds from sales and investment maturities of:
Debt securities available for sale 15,679.9 17,561.8 13,093.9
Equity securities 251.2 239.5 358.8
Mortgage loans 602.3 400.8 534.6
Investment real estate 74.3 6.3 29.5
Other investments 3,321.0 4,866.5 5,166.8
NYLCare Texas — — 420.0
Cost of investments in:
Debt securities available for sale (15,452.3) (16,930.7) (12,081.3)
Equity securities (114.9) (288.1) (235.7)
Mortgage loans (296.3) (226.4) (364.8)
Investment real estate (47.6) (17.9) (15.7)
Other investments (3,251.4) (5,145.3) (5,395.6)
Increase in property and equipment (155.5) (142.6) (36.9)
Other, net —— 7.3
Discontinued operations, net — — (445.1)
Net cash provided by investing activities 610.7 323.9 1,035.8
Cash flows from financing activities:
Deposits and interest credited for investment contracts 127.1 170.4 237.2
Withdrawals of investment contracts (592.1) (795.0) (931.9)
Issuance of long-term debt — 1,566.1 —
Repayment of short-term debt (109.7) (1,482.5) (132.8)
Capital contributions from former Aetna — — 118.9
Dividends paid to former Aetna — — (216.0)
Common shares issued under benefit plans 233.5 98.1 21.8
Common shares repurchased (165.2) (95.6) —
Dividends paid to shareholders (6.0) (5.7) —
Other, net ——(304.4)
Discontinued operations, net — — (296.4)
Net cash used for financing activities (512.4) (544.2) (1,503.6)
Net increase in cash and cash equivalents of discontinued operations — — (715.5)
Net increase (decrease) in cash and cash equivalents of continuing operations 404.7 (254.3) 343.3
Cash and cash equivalents, beginning of year 1,398.2 1,652.5 1,309.2
Cash and cash equivalents, end of year $ 1,802.9 $ 1,398.2 $ 1,652.5
The foregoing financial information should be read in conjunction with the financial statements and related notes as presented in Aetna Inc.’s
 Annual Report, Financial Report.