XML 65 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Cash flow from operating activities:    
Net earnings $ 226,835 $ 179,962
Earnings from consolidated entities 0 0
Adjustments to reconcile net earnings to cash provided by operations:    
Depreciation 192,357 167,022
Amortization of deferred policy acquisition costs 9,290 10,716
Change in allowance for losses on trade receivables (73) (89)
Change in allowance for inventory reserves 2,050 3,005
Net of gains on sale of real and personal property (14,879) (18,326)
Net (gain) loss on sale of investments (1,050) (5,454)
Deferred income taxes 17,757 94,581
Net change in other operating assets and liabilities:    
Reinsurance recoverables and trade receivables 71,709 (145,727)
Inventories 696 173
Prepaid expenses (13,283) 2,666
Capitalization of deferred policy acquisition costs (43,085) (19,072)
Other assets 22,712 3,623
Related party assets 138,042 (5,357)
Accounts payable and accrued expenses (872) 7,428
Policy benefits and losses, claims and loss expenses payable (30,226) 221,797
Other policyholders' funds and liabilities (925) (3,333)
Deferred income (3,704) 1,070
Related party liabilities 2,970 2,965
Net cash provided by operating activities 576,321 497,650
Purchase of:    
Property, plant and equipment (422,840) (421,743)
Short term investments (289,773) (169,313)
Fixed maturities investments (308,290) (172,570)
Equity securities (3,130) (9,048)
Preferred stock (2,761) (1,617)
Real estate (1,053) (5,201)
Mortgage loans (50,583) (94,111)
Proceeds from sale of:    
Property, plant and equipment 166,904 139,852
Short term investments 280,856 186,941
Fixed maturities investments 85,132 116,609
Equity securities 0 10,210
Preferred stock 5,728 1,252
Real estate 671 146
Mortgage loans 49,215 40,883
Net cash used by investing activities (489,924) (377,710)
Cash flow from financing activities:    
Borrowings from credit facilities 251,319 234,562
Principal repayments on credit facilities (234,698) (166,615)
Debt issuance costs (2,352) (1,788)
Capital lease payments (18,310) (5,962)
Leveraged Employee Stock Ownership Plan - repayments from loan 559 827
Securitization deposits (1,729) 40,500
Proceeds from (repayment of) intercompany loans 0 0
Preferred stock redemption paid 0 (144,289)
Preferred stock dividends paid 0 (2,913)
Common stock dividends paid (97,421) 0
Contribution to related party 0 (518)
Investment contract deposits 268,478 10,810
Investment contract withdrawals (22,937) (21,419)
Net cash used by financing activities 142,909 (56,805)
Effects of exchange rate on cash (362) (306)
Increase (decrease) in cash and cash equivalents 228,944 62,829
Cash and cash equivalents at the end of period 357,180 382,514
Cash and cash equivalents at the end of the period $ 586,124 $ 445,343