CONSOLIDATED STATEMENT OF CASH FLOWS

12 Months Ended

Dec. 31, 2022

Supplemental Cash Flow Elements [Abstract]

CONSOLIDATED STATEMENT OF CASH FLOWS

CONSOLIDATED STATEMENT OF CASH FLOWS

The following disclosures supplement our consolidated statement of cash flows.

The following reconciles net income to net cash provided by operating activities (dollars in millions):

	2022		2021		2020
Cash flows from operating activities:
Net income	$	396.8	$	441.0	$	301.8
Adjustments to reconcile net income to net cash from operating activities:
Amortization and depreciation	345.3		319.5		303.9
Income taxes	86.6		146.5		14.1
Insurance liabilities	(175.6)		346.2		397.6
Accrual and amortization of investment income	138.7		(347.6)		(125.2)
Deferral of policy acquisition costs	(332.2)		(298.8)		(275.8)
Net investment (gains) losses	135.4		(19.1)		36.2
Other (a)	(99.6)		10.6		82.9
Net cash from operating activities	$	495.4	$	598.3	$	735.5

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(a)    Primarily relates to: (i) changes in other assets and liabilities related to the timing of payments and receipts; and (ii) the change in fair value of the deferred compensation plan liability.

Other non-cash items not reflected in the investing and financing activities sections of the consolidated statement of cash flows (dollars in millions):

	2022		2021		2020
Stock options, restricted stock and performance units	$	25.2	$	26.0	$	24.5