Unum 2009 Annual Report Download - page 92

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Year Ended December 31
(in millions of dollars) 2009 2008 2007
Cash Flows from Operating Activities
Net Income $ 852.6 $ 553.2 $ 679.3
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities
Change in Receivables 113.9 77.2 235.5
Change in Deferred Acquisition Costs (67.4) (71.8) (75.9)
Change in Insurance Reserves and Liabilities 441.2 717.5 887.2
Change in Income Taxes 59.2 (84.3) 114.8
Change in Other Accrued Liabilities (18.4) (93.5) (119.8)
Non-cash Adjustments to Net Investment Income (239.8) (306.7) (363.6)
Net Realized Investment (Gain) Loss (11.7) 465.9 65.2
Depreciation 74.5 68.8 66.2
Cash Received from Reinsurance Recapture — — 211.4
Other, Net 32.9 (0.2) 50.0
Net Cash Provided by Operating Activities 1,237.0 1,326.1 1,750.3
Cash Flows from Investing Activities
Proceeds from Sales of Available-for-Sale Securities 1,427.2 2,066.1 2,179.3
Proceeds from Maturities of Available-for-Sale Securities 1,132.5 1,288.0 1,171.4
Proceeds from Sales and Maturities of Other Investments 250.5 205.6 312.9
Purchase of Available-for-Sale Securities (3,848.8) (4,083.7) (4,205.2)
Purchase of Other Investments (267.7) (291.2) (488.8)
Net Sales (Purchases) of Short-term Investments 199.0 432.8 (836.2)
Acquisition of Business — 48.8 —
Disposition of Business — — 98.8
Other, Net (106.6) (91.1) (87.2)
Net Cash Used by Investing Activities (1,213.9) (424.7) (1,855.0)
Cash Flows from Financing Activities
Maturities and Benefit Payments from Policyholder Accounts (1.5) (10.2) (5.7)
Net Short-term Debt Repayments (190.5) (134.5) —
Issuance of Long-term Debt 346.8 — 800.0
Long-term Debt Repayments (59.8) (105.9) (769.5)
Cost Related to Early Retirement of Debt — (0.4) (34.2)
Issuance of Common Stock 8.0 4.4 307.8
Dividends Paid to Stockholders (104.5) (103.5) (105.2)
Purchases of Treasury Stock — (700.0) —
Other, Net — 0.6 (12.0)
Net Cash Provided (Used) by Financing Activities (1.5) (1,049.5) 181.2
Effect of Foreign Exchange Rate Changes on Cash 0.1 (1.1) 1.3
Net Increase (Decrease) in Cash and Bank Deposits 21.7 (149.2) 77.8
Cash and Bank Deposits at Beginning of Year 49.9 199.1 121.3
Cash and Bank Deposits at End of Year $ 71.6 $ 49.9 $ 199.1
See notes to consolidated financial statements.
90
Consolidated Statements of Cash Flows
Unum
2009