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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 132.6 $ 215.5 $ 265.3
Adjustments to reconcile net income to cash provided by operating activities:      
Provision for policy losses and other claims 320.0 336.3 486.3
Depreciation and amortization 207.4 188.5 167.5
Amortization of premiums and accretion of discounts on debt securities, net (3.0) 8.6 18.8
Net investment losses 401.6 206.4 515.8
Share-based compensation 52.0 49.1 67.3
Equity in earnings of affiliates, net (7.4) (5.4) (11.0)
Dividends from equity method investments 6.4 6.5 11.2
Changes in assets and liabilities excluding effects of acquisitions and noncash transactions:      
Claims paid, including assets acquired, net of recoveries (397.8) (381.8) (434.3)
Net change in income tax accounts 35.2 (60.8) (130.0)
Decrease (increase) in accounts and accrued income receivable 126.2 (159.1) 82.7
Increase (decrease) in accounts payable and accrued liabilities 45.9 (51.9) (265.9)
Increase (decrease) in deferred revenue 13.7 (0.1) (27.9)
Other, net (35.3) 2.5 31.8
Cash provided by operating activities 897.5 354.3 777.6
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisitions/dispositions, net of cash acquired/divested (16.4) (24.7) (277.5)
Net (increase) decrease in deposits with banks (35.0) 7.9 (7.7)
Purchases of debt securities (6,298.8) (1,287.8) (2,980.0)
Proceeds from sales of debt securities 5,462.9 1,676.9 1,753.3
Proceeds from maturities of debt securities 675.5 812.3 1,171.0
Purchases of equity securities (44.7) (170.7) (157.1)
Proceeds from sales of equity securities 69.1 71.0 241.4
Net change in other investments (7.6) (11.6) (6.8)
Advances under secured financing agreements (29,164.2) (13,309.9) (15,657.8)
Collections of secured financings receivable 29,114.2 13,097.2 15,778.2
Capital expenditures (218.3) (263.4) (259.8)
Proceeds from sales of property and equipment 0.6 0.1 6.8
Proceeds from insurance settlement 4.0 2.2 3.0
Cash (used for) provided by investing activities (458.7) 599.5 (393.0)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net change in deposits (2,259.9) 1,788.3 451.1
Borrowings under secured financing agreements 28,408.3 13,383.7 15,532.6
Repayments of secured financings payable (28,317.8) (13,196.7) (15,695.3)
Net proceeds from issuance of unsecured senior notes 444.0 0.0 0.0
Repayment of senior unsecured notes (300.0) (250.0) 0.0
Repayments of other notes and contracts payable (4.2) (6.2) (6.9)
Net activity related to noncontrolling interests 2.5 (7.1) (2.2)
Net proceeds in connection with share-based compensation 6.9 0.4 2.5
Repurchases of Company shares (68.5) (72.7) (440.7)
Payments of cash dividends (220.7) (216.6) (217.5)
Cash (used for) provided by financing activities (2,309.4) 1,423.1 (376.4)
Effect of exchange rate changes on cash (16.6) 4.9 (12.7)
Net (decrease) increase in cash and cash equivalents (1,887.2) 2,381.8 (4.5)
Cash and cash equivalents—Beginning of year 3,605.3 1,223.5 1,228.0
Cash and cash equivalents—End of year 1,718.1 3,605.3 1,223.5
SUPPLEMENTAL INFORMATION:      
Interest 150.6 124.2 86.5
Premium taxes 57.3 84.2 112.6
Income taxes paid 22.1 121.0 191.1
Income tax refunds $ (23.6) $ (1.0) $ (2.2)