Unum 2012 Annual Report Download - page 95

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UNUM 2012 ANNUAL REPORT 93
Year Ended December 31
(in millions of dollars) 2012 2011 2010
As Adjusted
Cash Flows from Operating Activities
Net Income $ 894.4 $ 284.2 $ 878.7
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities
Change in Receivables 40.4 37.0 1.7
Change in Deferred Acquisition Costs (88.6) (76.8) (49.2)
Impairment of Deferred Acquisition Costs — 196.0 —
Change in Insurance Reserves and Liabilities 508.4 1,113.9 537.8
Change in Income Taxes 168.0 (274.4) 160.3
Change in Other Accrued Liabilities 18.6 68.4 (95.5)
Non-cash Adjustments to Net Investment Income (221.3) (240.6) (276.2)
Net Realized Investment (Gain) Loss (56.2) 4.9 (24.7)
Depreciation 84.3 81.1 75.4
Other, Net 31.6 — (11.5)
Net Cash Provided by Operating Activities 1,379.6 1,193.7 1,196.8
Cash Flows from Investing Activities
Proceeds from Sales of Fixed Maturity Securities 595.9 1,181.9 1,122.8
Proceeds from Maturities of Fixed Maturity Securities 2,160.5 1,692.7 2,192.8
Proceeds from Sales and Maturities of Other Investments 182.2 131.9 140.3
Purchase of Fixed Maturity Securities (3,512.8) (2,760.1) (3,798.6)
Purchase of Other Investments (353.8) (304.1) (332.8)
Net Purchases of Short-term Investments (80.1) (254.6) (288.1)
Other, Net (105.3) (98.0) (110.1)
Net Cash Used by Investing Activities (1,113.4) (410.3) (1,073.7)
Cash Flows from Financing Activities
Net Short-term Debt Borrowings 143.5 87.2 —
Issuance of Long-term Debt 246.4 — 396.9
Long-term Debt Repayments (70.0) (84.4) (78.3)
Issuance of Common Stock 4.9 14.8 10.0
Repurchase of Common Stock (496.7) (619.9) (356.0)
Dividends Paid to Stockholders (133.8) (121.0) (114.8)
Other, Net 0.2 2.9 1.1
Net Cash Used by Financing Activities (305.5) (720.4) (141.1)
Net Increase (Decrease) in Cash and Bank Deposits (39.3) 63.0 (18.0)
Cash and Bank Deposits at Beginning of Year 116.6 53.6 71.6
Cash and Bank Deposits at End of Year $ 77.3 $ 116.6 $ 53.6
See notes to consolidated financial statements.
Consolidated Statements of Cash Flows