XML 15 R8.htm IDEA: XBRL DOCUMENT v3.25.1
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 74.8 $ 46.7
Adjustments to reconcile net income to cash provided by operating activities:    
Provision for policy losses and other claims 70.1 69.5
Depreciation and amortization 52.5 50.1
Amortization of premiums and accretion of discounts on debt securities, net (10.0) 2.1
Net investment losses (gains) 10.8 (9.0)
Share-based compensation 30.6 23.4
Equity in earnings of affiliates, net (2.7) (1.1)
Dividends from equity method investments 2.3 0.8
Changes in assets and liabilities excluding effects of acquisitions and noncash transactions:    
Claims paid, including assets acquired, net of recoveries (76.3) (91.6)
Net change in income tax accounts 12.8 20.9
(Increase) decrease in accounts and accrued income receivable (2.3) 160.2
Decrease in accounts payable and accrued liabilities (202.0) (143.7)
Decrease in deferred revenue (14.5) (13.8)
Other, net 1.1 (45.2)
Cash (used for) provided by operating activities (52.8) 69.3
Cash flows from investing activities:    
Acquisitions/dispositions, net of cash acquired/divested (4.4) (3.5)
Net decrease (increase) in deposits with banks 22.9 (23.3)
Purchases of debt securities (468.2) (332.5)
Proceeds from sales of debt securities 266.8 224.5
Proceeds from maturities of debt securities 146.0 132.8
Purchases of equity securities (16.9) (31.6)
Proceeds from sales of equity securities 15.1 44.2
Net change in other investments (0.6) (1.6)
Advances under secured financing agreements (7,861.3) (4,792.6)
Collections of secured financings receivable 7,706.6 4,601.0
Capital expenditures (41.7) (51.7)
Proceeds from sales of property and equipment 0.1 0.0
Proceeds from insurance settlement 1.1 2.9
Cash used for investing activities (234.5) (231.4)
Cash flows from financing activities:    
Net change in deposits 612.9 (2,004.8)
Borrowings under secured financing agreements 7,592.5 4,732.8
Repayments of secured financings payable (7,500.5) (4,597.3)
Repayments of other notes and contracts payable (0.6) (0.6)
Net activity related to noncontrolling interests (1.4) 4.1
Net payments in connection with share-based compensation (6.7) (8.0)
Repurchases of Company shares (28.2) (3.5)
Payments of cash dividends (55.7) (54.9)
Cash provided by (used for) financing activities 612.3 (1,932.2)
Effect of exchange rate changes on cash 2.0 (4.6)
Net increase (decrease) in cash and cash equivalents 327.0 (2,098.9)
Cash and cash equivalents—Beginning of period 1,718.1 3,605.3
Cash and cash equivalents—End of period 2,045.1 1,506.4
Supplemental information:    
Interest 40.6 36.2
Premium taxes 25.7 19.5
Income taxes paid 11.1 3.4
Income tax refunds $ (2.1) $ (12.7)