Unum 2007 Annual Report Download - page 92

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90 Unum 2007 Annual Report
Consolidated Statements of Cash Flows
Year Ended December 31
(in millions of dollars) 2007 2006 2005
Cash Flows from Operating Activities
Net Income $ 679.3 $ 411.0 $ 513.6
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities
Change in Receivables 235.5 65.2 (56.9)
Change in Deferred Acquisition Costs (75.9) (49.6) (55.7)
Change in Insurance Reserves and Liabilities 887.2 1,440.5 1,319.7
Change in Income Tax Liabilities 114.8 (67.4) 90.2
Change in Other Accrued Liabilities (119.8) (120.8) (44.0)
Non-cash Adjustments to Net Investment Income (363.6) (370.0) (368.6)
Net Realized Investment (Gain) Loss 65.2 (2.2) 6.7
Depreciation 66.2 72.5 72.7
Cash Received from Reinsurance Recapture 211.4 — —
Other, Net 50.0 52.7 25.9
Net Cash Provided by Operating Activities 1,750.3 1,431.9 1,503.6
Cash Flows from Investing Activities
Proceeds from Sales of Available-for-Sale Securities 2,189.0 2,174.2 1,871.0
Proceeds from Maturities of Available-for-Sale Securities 1,171.4 1,364.0 1,169.7
Proceeds from Sales and Maturities of Other Investments 303.2 139.6 139.6
Purchase of Available-for-Sale Securities (4,205.2) (4,050.2) (4,370.1)
Purchase of Other Investments (488.8) (561.0) (524.4)
Net Sales (Purchases) of Short-term Investments (836.2) (225.4) 5.4
Acquisition of Business — — (3.5)
Disposition of Business 98.8 — 8.8
Other, Net (87.2) (63.2) 67.9
Net Cash Used by Investing Activities (1,855.0) (1,222.0) (1,635.6)
Cash Flows from Financing Activities
Maturities and Benefit Payments from Policyholder Accounts (5.7) (7.2) (7.4)
Short-term Debt Repayments — — (227.0)
Issuance of Long-term Debt 800.0 130.0 399.6
Long-term Debt Repayments (769.5) (732.0) —
Cost Related to Early Retirement of Debt (34.2) (17.9) —
Issuance of Common Stock 307.8 580.0 18.1
Dividends Paid to Stockholders (105.2) (95.6) (88.7)
Other, Net (12.0) (14.3) (23.6)
Net Cash Provided (Used) by Financing Activities 181.2 (157.0) 71.0
Effect of Foreign Exchange Rate Changes on Cash 1.3 1.3 (2.6)
Net Increase (Decrease) in Cash and Bank Deposits 77.8 54.2 (63.6)
Cash and Bank Deposits at Beginning of Year 121.3 67.1 130.7
Cash and Bank Deposits at End of Year $ 199.1 $ 121.3 $ 67.1
See notes to consolidated financial statements.