Unum 2015 Annual Report Download - page 91

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89
Unum 2015 Annual Report
Year Ended December 31
(in millions of dollars) 2015 2014 2013
As Adjusted
Cash Flows from Operating Activities
Net Income $ 867.1 $ 402.1 $ 847.0
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities
Change in Receivables 29.3 (21.5) (196.7)
Change in Deferred Acquisition Costs (87.4) (83.2) (47.9)
Change in Insurance Reserves and Liabilities 293.9 972.2 572.5
Change in Income Taxes 180.5 (18.6) (23.5)
Change in Other Accrued Liabilities 20.0 105.2 21.2
Non-cash Components of Net Investment Income (194.1) (195.7) (226.3)
Net Realized Investment (Gain) Loss 43.8 (16.1) (6.8)
Depreciation 99.5 87.9 84.8
Other, Net 39.5 (8.7) 7.2
Net Cash Provided by Operating Activities 1,292.1 1,223.6 1,031.5
Cash Flows from Investing Activities
Proceeds from Sales of Fixed Maturity Securities 880.1 450.1 1,040.5
Proceeds from Maturities of Fixed Maturity Securities 2,417.0 1,819.4 2,146.4
Proceeds from Sales and Maturities of Other Investments 347.0 235.0 243.4
Purchase of Fixed Maturity Securities (4,305.3) (2,918.4) (3,553.6)
Purchase of Other Investments (409.5) (285.2) (363.7)
Net Sales (Purchases) of Short-term Investments 170.6 (69.3) 551.3
Net Increase (Decrease) in Payables for Collateral on Investments 341.6 (3.8) (378.2)
Acquisition of Business (54.3) — —
Net Purchases of Property and Equipment (100.2) (114.5) (105.5)
Other, Net — 0.1 0.2
Net Cash Used by Investing Activities (713.0) (886.6) (419.2)
Cash Flows from Financing Activities
Issuance of Long-term Debt 271.4 347.2 —
Long-term Debt Repayments (226.3) (186.6) (116.2)
Cost Related to Early Retirement of Debt — (13.2) —
Issuance of Common Stock 6.4 12.3 11.4
Repurchase of Common Stock (417.9) (306.0) (317.2)
Dividends Paid to Stockholders (174.2) (159.4) (146.5)
Other, Net (28.1) (22.9) (27.0)
Net Cash Used by Financing Activities (568.7) (328.6) (595.5)
Net Increase in Cash and Bank Deposits 10.4 8.4 16.8
Cash and Bank Deposits at Beginning of Year 102.5 94.1 77.3
Cash and Bank Deposits at End of Year $ 112.9 $ 102.5 $ 94.1
See notes to consolidated financial statements.
Consolidated Statements of Cash Flows