 

2025

 

2024

 

2023

Income:

Dividends from subsidiaries

$

167,100

$

130,000

$

179,000

Interest income on notes receivable

6,951

7,602

5,769

Loss on other investments

(4,386)

(3,356)

(6,150)

Other

413

1,059

4

Total income

170,078

135,305

178,623

Expenses:

Interest expense (Debentures)

6,722

7,762

8,122

Credit loss expense

—

625

500

Other

5,413

6,252

252

Total expenses

12,135

14,639

8,874

Income before federal income taxes and equity in undistributed net income of subsidiaries

157,943

120,666

169,749

Income tax benefit

(584)

(833)

(1,365)

Income before equity in undistributed net income of subsidiaries

158,527

121,499

171,114

Equity in undistributed net income of subsidiaries

253,766

287,668

240,654

Net income

$

412,293

$

409,167

$

411,768