XML 19 R7.htm IDEA: XBRL DOCUMENT v3.3.1.900
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash flow from operating activities:    
Net earnings $ 436,433 $ 347,261
Adjustments to reconcile net earnings to cash provided by operations:    
Depreciation 287,562 259,871
Amortization of deferred policy acquisition costs 15,559 13,196
Change in allowance for losses on trade receivables (182) (212)
Change in allowance for inventory reserves (1,939) (744)
Net gain on sale of real and personal property (87,789) (49,944)
Net (gain) loss on sale of investments (3,779) (3,254)
Deferred income tax 151,399 71,485
Net change in other operating assets and liabilities:    
Reinsurance recoverables and trade receivables 8,568 1,895
Inventories (3,887) (2,053)
Prepaid expenses (57,015) (38,905)
Capitalization of deferred policy acquisition costs (24,803) (20,158)
Other assets 20,680 (41,663)
Related party assets 49,803 20,770
Accounts payable and accrued expenses 37,323 (3,806)
Policy benefits and losses, claims and loss expenses payable 12,976 (17,587)
Other policyholders' funds and liabilities (560) 2,730
Deferred income 1,005 (16,732)
Related party liabilities (878) 22
Net cash provided by operating activities 840,476 522,172
Cash flow from investing activities:    
Property, plant and equipment (1,051,830) (725,447)
Short term investments (391,683) (203,018)
Fixed maturities investments (318,664) (181,824)
Equity securities (1,315) (3,759)
Preferred stock (5) (5)
Real estate (23) (11,328)
Mortgage loans (99,549) (37,365)
Proceeds from sale of:    
Property, plant and equipment 463,602 321,680
Short term investments 400,844 220,610
Fixed maturities investments 135,727 75,372
Equity securities $ 808 3,082
Preferred stock 2,027
Real estate 396
Mortgage loans $ 34,141 33,192
Net cash used by investing activities (827,947) (506,387)
Cash flow from financing activities:    
Borrowings from credit facilities 508,276 510,074
Principal repayments on credit facilities (280,304) (266,672)
Debt issuance costs (5,957) (9,697)
Capital lease payments (110,202) (65,478)
Employee Stock Ownership Plan (1,559) $ (184)
Securitization deposits 448
Common stock dividends paid (78,374)
Investment contract deposits 246,756 $ 94,979
Investment contract withdrawals (41,258) (38,653)
Net cash provided by (used in) financing activities 237,826 224,369
Effects of exchange rate on cash (17,578) (6,243)
Increase (decrease) in cash and cash equivalents 232,777 233,911
Cash and cash equivalents at the beginning of period 441,850 495,112
Cash and cash equivalents at the end of the period $ 674,627 $ 729,023