XML 52 R10.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Statement of Cash Flows [Abstract]      
Net income $ 970,755 $ 894,386 $ 1,031,114
Adjustments to reconcile net income to cash provided from operations:      
Increase (decrease) in future policy benefits 834,366 759,426 645,897
Increase (decrease) in other policy benefits 5,448 35,638 31,533
Deferral of policy acquisition costs (850,169) (828,943) (782,488)
Amortization of deferred acquisition costs 379,700 348,824 317,616
Change in current and deferred income taxes 101,448 91,835 147,990
Realized (gains) losses 65,676 76,548 (59,319)
Other, net (24,799) 44,480 105,337
Cash provided from (used for) operating activities 1,482,425 1,422,194 1,437,680
Investments sold or matured:      
Fixed maturities available for sale—sold 602,556 390,392 116,656
Fixed maturities available for sale—matured or other redemptions 250,652 462,002 310,991
Mortgage loans 44,004 32,870 31,423
Other long-term investments 151,262 50,281 4,923
Total investments sold or matured 1,048,474 935,545 463,993
Acquisition of investments:      
Fixed maturities—available for sale (1,536,409) (1,420,220) (1,004,384)
Mortgage loans (158,823) (77,275) (10,421)
Other long-term investments (155,700) (213,207) (247,875)
Total investments acquired (1,850,932) (1,710,702) (1,262,680)
Net (increase) decrease in policy loans (42,154) (25,232) (5,255)
Net (increase) decrease in short-term investments 32,381 (44,976) 38,637
Additions to property and equipment (49,553) (27,929) (38,244)
Other investing activities 0 0 (56,700)
Investments in low-income housing interests (64,365) (69,721) (53,121)
Cash provided from (used for) investing activities (926,149) (943,015) (913,370)
Cash provided from (used for) financing activities:      
Issuance of common stock 114,080 106,592 69,826
Cash dividends paid to shareholders (84,116) (80,547) (80,043)
Repayment of debt (165,612) (150,000) (300,000)
Proceeds from issuance of debt 170,000 250,492 325,000
Payment for debt issuance costs (757) (5,272) (7,687)
Net borrowing (repayment) of commercial paper 32,961 (46,289) 74,974
Acquisition of treasury stock (511,100) (454,638) (541,435)
Net receipts (payments) from deposit-type products (96,943) (112,791) (64,238)
Cash provided from (used for) financing activities (541,487) (492,453) (523,603)
Effect of foreign exchange rate changes on cash (4,192) 13,670 (3,391)
Net increase (decrease) in cash 10,597 396 (2,684)
Cash at beginning of year 92,559 92,163 94,847
Cash at end of year $ 103,156 $ 92,559 $ 92,163