XML 131 R109.htm IDEA: XBRL DOCUMENT v3.4.0.3
Consolidating financial information by industry segment (Cash Flow Statements) (Details) - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Mar. 31, 2014
Cash flow from operating activities:      
Net earnings $ 489,001 $ 356,741 $ 342,391
Earnings from consolidated subsidiaries
Adjustments to reconcile net earnings to cash provided by operations:      
Depreciation $ 389,393 $ 352,796 $ 293,169
Amortization of deferred policy acquisition costs 23,272 19,661 19,982
Interest credited to policy holders 20,465 18,110 22,890
Change in allowance for losses on trade receivables (205) (168) (36)
Change in allowance for inventory reserves (1,343) (872) 871
Net gain on sale of real and personal property (98,703) (74,631) (33,557)
Net gain (loss) on sale of investments (4,491) (3,925) (6,411)
Deferred income taxes 138,075 76,500 46,371
Net change in other operating assets and liabilities:      
Reinsurance recoverables and trade receivables 14,765 9,632 62,506
Inventories (9,009) (1,579) (11,495)
Prepaid expenses (10,338) (65,720) 2,186
Capitalization of deferred policy acquisition costs (32,590) (27,084) (32,611)
Other assets 15,322 3,735 7,667
Related party assets 56,644 27,706 7,554
Accounts payable and accrued expenses 37,387 98,877 36,365
Policy benefits and losses, claims and loss expenses payable 9,626 (17,621) (30,496)
Other policyholders' funds and liabilities (349) 988 631
Deferred income 4,757 (13,181) 1,259
Related party liabilities (616) (866) 4,730
Net cash provided by operating activities 1,041,063 759,099 733,966
Cash flow from investing activities:      
Property, plant and equipment (1,509,154) (1,041,931) (1,000,243)
Short term investments (515,899) (290,379) (270,690)
Fixed maturities investments (417,062) (214,371) (282,424)
Equity securities (1,315) (3,759) (1,562)
Preferred stock (1,005) (2,006) (640)
Real estate (75) (15,399) (532)
Mortgage loans (102,588) (42,683) (52,419)
Proceeds from sale and paydowns of:      
Property, plant and equipment 539,256 411,629 270,053
Short term investments 528,180 287,883 269,052
Fixed maturities investments 154,536 107,867 138,401
Equity securities 2,044 3,082 29,139
Preferred stock $ 1,126 2,427 6,004
Real estate 396 544
Mortgage loans $ 48,557 41,983 48,686
Net cash used by investing activities (1,273,399) (755,261) (846,631)
Cash flow from financing activities:      
Borrowings from credit facilities 855,972 657,535 431,029
Principal repayments on credit facilities (428,403) (593,722) (293,068)
Debt issuance costs (10,184) (12,327) (3,943)
Capital lease payments (168,661) (121,202) (53,079)
Employee stock ownership plan (9,302) $ (7,939) $ (207)
Securitization deposits 544
Common stock dividends paid (78,374) $ (19,594) $ (19,568)
Investment contract deposits 298,237 105,019 117,723
Investment contract withdrawals (52,957) (54,108) (34,677)
Net cash provided by financing activities 406,872 (46,338) 144,210
Effects of exchange rate on cash (15,740) (10,762) (177)
Increase (decrease) in cash and cash equivalents 158,796 (53,262) 31,368
Cash and cash equivalents at the beginning of period 441,850 495,112 463,744
Cash and cash equivalents at the end of the period 600,646 441,850 495,112
Operating Segments [Member] | Moving and Storage Consolidations [Member]      
Cash flow from operating activities:      
Net earnings 489,001 356,741 342,391
Earnings from consolidated subsidiaries (35,522) (34,783) (29,992)
Adjustments to reconcile net earnings to cash provided by operations:      
Depreciation $ 389,393 $ 352,796 $ 293,169
Amortization of deferred policy acquisition costs
Interest credited to policy holders
Change in allowance for losses on trade receivables $ 7 $ (179) $ (28)
Change in allowance for inventory reserves (1,343) (872) 871
Net gain on sale of real and personal property $ (98,703) $ (74,631) (33,557)
Net gain (loss) on sale of investments (1,325)
Deferred income taxes $ 124,838 $ 66,628 34,605
Net change in other operating assets and liabilities:      
Reinsurance recoverables and trade receivables (2,169) (3,213) 14,328
Inventories (9,009) (1,579) (11,495)
Prepaid expenses $ (10,338) $ (65,720) $ 2,186
Capitalization of deferred policy acquisition costs
Other assets $ 16,231 $ 4,437 $ 8,670
Related party assets 55,962 27,753 11,060
Accounts payable and accrued expenses 26,093 91,409 32,394
Policy benefits and losses, claims and loss expenses payable $ 23,215 $ (4,327) $ (8,202)
Other policyholders' funds and liabilities
Deferred income $ 4,757 $ (13,181) $ 1,259
Related party liabilities (779) (1,016) 5,647
Net cash provided by operating activities 971,634 700,263 661,981
Cash flow from investing activities:      
Property, plant and equipment $ (1,509,154) $ (1,041,931) $ (1,000,243)
Short term investments
Fixed maturities investments
Equity securities
Preferred stock
Real estate
Mortgage loans $ (15,384) $ (22,876) $ (21,349)
Proceeds from sale and paydowns of:      
Property, plant and equipment $ 539,256 $ 411,629 $ 270,053
Short term investments
Fixed maturities investments
Equity securities $ 26,569
Preferred stock
Real estate $ 193
Mortgage loans $ 21,589 $ 28,089 38,959
Net cash used by investing activities (963,693) (625,089) (685,818)
Cash flow from financing activities:      
Borrowings from credit facilities 808,972 657,535 431,029
Principal repayments on credit facilities (381,403) (593,722) (293,068)
Debt issuance costs (10,184) (12,327) (3,943)
Capital lease payments (168,661) (121,202) (53,079)
Employee stock ownership plan (9,302) (7,939) $ (207)
Securitization deposits 544  
Common stock dividends paid $ (78,374) $ (19,594) $ (19,568)
Investment contract deposits
Investment contract withdrawals
Net cash provided by financing activities $ 161,592 $ (97,249) $ 61,164
Effects of exchange rate on cash (15,740) (10,762) (177)
Increase (decrease) in cash and cash equivalents 153,793 (32,837) 37,150
Cash and cash equivalents at the beginning of period 431,873 464,710 427,560
Cash and cash equivalents at the end of the period 585,666 431,873 464,710
Operating Segments [Member] | Property and Casualty Insurance [Member]      
Cash flow from operating activities:      
Net earnings $ 16,168 [1] $ 15,417 [2] $ 12,662 [3]
Earnings from consolidated subsidiaries [4] [5] [6]
Adjustments to reconcile net earnings to cash provided by operations:      
Depreciation [4] [5] [6]
Amortization of deferred policy acquisition costs [1] [2] [3]
Interest credited to policy holders [4] [5] [6]
Change in allowance for losses on trade receivables [4] [5] [6]
Change in allowance for inventory reserves [4] [5] [6]
Net gain on sale of real and personal property [4] [5] [6]
Net gain (loss) on sale of investments $ (1,317) [4] $ (841) [5] $ (536) [6]
Deferred income taxes 9,311 [4] 8,030 [5] 7,301 [6]
Net change in other operating assets and liabilities:      
Reinsurance recoverables and trade receivables $ 13,528 [4] $ 16,830 [5] $ 43,675 [6]
Inventories [4] [5] [6]
Prepaid expenses [4] [5] [6]
Capitalization of deferred policy acquisition costs [4] [5] [6]
Other assets $ (1,050) [4] $ 102 [5] $ (781) [6]
Related party assets 682 [4] (258) [5] (4,231) [6]
Accounts payable and accrued expenses 1,533 [4] 22 [5] 62 [6]
Policy benefits and losses, claims and loss expenses payable (18,925) [4] (23,472) [5] (34,968) [6]
Other policyholders' funds and liabilities $ (1,056) [4] $ 317 [5] $ 513 [6]
Deferred income [4] [5] [6]
Related party liabilities $ 115 [4] $ 428 [5] $ (131) [6]
Net cash provided by operating activities $ 18,989 [4] $ 16,575 [5] $ 23,566 [6]
Cash flow from investing activities:      
Property, plant and equipment [4] [5] [6]
Short term investments $ (44,735) [4] $ (40,583) [5] $ (60,551) [6]
Fixed maturities investments $ (45,048) [4] (43,062) [5] (58,790) [6]
Equity securities [4] (3,333) [5] (746) [6]
Preferred stock $ (1,005) [4] (1,006) [5] $ (640) [6]
Real estate (36) [4] (7,857) [5] [6]
Mortgage loans $ (1,800) [4] $ (4,350) [5] $ (3,500) [6]
Proceeds from sale and paydowns of:      
Property, plant and equipment [4] [5] [6]
Short term investments $ 44,756 [4] $ 53,112 [5] $ 68,852 [6]
Fixed maturities investments 26,193 [4] 18,556 [5] 17,106 [6]
Equity securities 1,236 [4] 3,082 [5] 2,570 [6]
Preferred stock $ 1,126 [4] $ 400 [5] $ 4,504 [6]
Real estate [4] [5] [6]
Mortgage loans $ 5,878 [4] $ 4,203 [5] $ 6,267 [6]
Net cash used by investing activities $ (13,435) [4] $ (20,838) [5] $ (24,928) [6]
Cash flow from financing activities:      
Borrowings from credit facilities [4] [5] [6]
Principal repayments on credit facilities [4] [5] [6]
Debt issuance costs [4] [5] [6]
Capital lease payments [4] [5] [6]
Employee stock ownership plan [4] [5] [6]
Securitization deposits [4]   [6]
Common stock dividends paid [4] [5] [6]
Investment contract deposits [4] [5] [6]
Investment contract withdrawals [4] [5] [6]
Net cash provided by financing activities [4] [5] [6]
Effects of exchange rate on cash [4] [5] [6]
Increase (decrease) in cash and cash equivalents $ 5,554 [4] $ (4,263) [5] $ (1,362) [6]
Cash and cash equivalents at the beginning of period 8,495 [7] 12,758 [6] 14,120 [6]
Cash and cash equivalents at the end of the period 14,049 [8] 8,495 [7] 12,758 [6]
Operating Segments [Member] | Life Insurance [Member]      
Cash flow from operating activities:      
Net earnings $ 19,354 [1] $ 19,366 [2] $ 17,330 [3]
Earnings from consolidated subsidiaries [4] [5] [6]
Adjustments to reconcile net earnings to cash provided by operations:      
Depreciation [4] [5] [6]
Amortization of deferred policy acquisition costs $ 23,272 [1] $ 19,661 [2] $ 19,982 [3]
Interest credited to policy holders 20,465 [4] 18,110 [5] 22,890 [6]
Change in allowance for losses on trade receivables $ (212) [4] $ 11 [5] $ (8) [6]
Change in allowance for inventory reserves [4] [5] [6]
Net gain on sale of real and personal property [4] [5] [6]
Net gain (loss) on sale of investments $ (3,174) [4] $ (3,084) [5] $ (4,550) [6]
Deferred income taxes 3,926 [4] 1,842 [5] 4,465 [6]
Net change in other operating assets and liabilities:      
Reinsurance recoverables and trade receivables $ 3,406 [4] $ (3,985) [5] $ 4,503 [6]
Inventories [4] [5] [6]
Prepaid expenses [4] [5] [6]
Capitalization of deferred policy acquisition costs $ (32,590) [4] $ (27,084) [5] $ (32,611) [6]
Other assets $ 141 [4] $ (804) [5] $ (222) [6]
Related party assets [4] [5] [6]
Accounts payable and accrued expenses $ 9,761 [4] $ 7,446 [5] $ 3,909 [6]
Policy benefits and losses, claims and loss expenses payable 5,336 [4] 10,178 [5] 12,674 [6]
Other policyholders' funds and liabilities $ 707 [4] $ 671 [5] $ 118 [6]
Deferred income [4] [5] [6]
Related party liabilities $ 48 [4] $ (67) [5] $ (61) [6]
Net cash provided by operating activities $ 50,440 [4] $ 42,261 [5] $ 48,419 [6]
Cash flow from investing activities:      
Property, plant and equipment [4] [5] [6]
Short term investments $ (471,164) [4] $ (249,796) [5] $ (210,139) [6]
Fixed maturities investments (372,014) [4] (171,309) [5] (223,634) [6]
Equity securities $ (1,315) [4] (426) [5] $ (816) [6]
Preferred stock [4] (1,000) [5] [6]
Real estate $ (39) [4] (7,542) [5] $ (532) [6]
Mortgage loans $ (85,404) [4] $ (15,457) [5] $ (39,159) [6]
Proceeds from sale and paydowns of:      
Property, plant and equipment [4] [5] [6]
Short term investments $ 483,424 [4] $ 234,771 [5] $ 200,200 [6]
Fixed maturities investments 128,343 [4] $ 89,311 [5] $ 121,295 [6]
Equity securities $ 808 [4] [5] [6]
Preferred stock [4] $ 2,027 [5] $ 1,500 [6]
Real estate [4] 396 [5] 351 [6]
Mortgage loans $ 21,090 [4] 9,691 [5] 15,049 [6]
Net cash used by investing activities (296,271) [4] $ (109,334) [5] $ (135,885) [6]
Cash flow from financing activities:      
Borrowings from credit facilities 47,000 [4] [5] [6]
Principal repayments on credit facilities $ (47,000) [4] [5] [6]
Debt issuance costs [4] [5] [6]
Capital lease payments [4] [5] [6]
Employee stock ownership plan [4] [5] [6]
Securitization deposits [4]   [6]
Common stock dividends paid [4] [5] [6]
Investment contract deposits $ 298,237 [4] $ 105,019 [5] $ 117,723 [6]
Investment contract withdrawals (52,957) [4] (54,108) [5] (34,677) [6]
Net cash provided by financing activities $ 245,280 [4] $ 50,911 [5] $ 83,046 [6]
Effects of exchange rate on cash [4] [5] [6]
Increase (decrease) in cash and cash equivalents $ (551) [4] $ (16,162) [5] $ (4,420) [6]
Cash and cash equivalents at the beginning of period 1,482 [7] 17,644 [6] 22,064 [6]
Cash and cash equivalents at the end of the period 931 [8] 1,482 [7] 17,644 [6]
Eliminations [Member]      
Cash flow from operating activities:      
Net earnings (35,522) (34,783) (29,992)
Earnings from consolidated subsidiaries $ 35,522 $ 34,783 $ 29,992
Adjustments to reconcile net earnings to cash provided by operations:      
Depreciation
Amortization of deferred policy acquisition costs
Interest credited to policy holders
Change in allowance for losses on trade receivables
Change in allowance for inventory reserves
Net gain on sale of real and personal property
Net gain (loss) on sale of investments
Deferred income taxes
Net change in other operating assets and liabilities:      
Reinsurance recoverables and trade receivables
Inventories
Prepaid expenses
Capitalization of deferred policy acquisition costs
Other assets
Related party assets $ 211 [9] $ 725 [9]
Accounts payable and accrued expenses
Policy benefits and losses, claims and loss expenses payable
Other policyholders' funds and liabilities
Deferred income
Related party liabilities $ (211) [9] $ (725) [9]
Net cash provided by operating activities
Cash flow from investing activities:      
Property, plant and equipment
Short term investments
Fixed maturities investments
Equity securities
Preferred stock
Real estate
Mortgage loans $ 11,589 [9]
Proceeds from sale and paydowns of:      
Property, plant and equipment
Short term investments
Fixed maturities investments
Equity securities
Preferred stock
Real estate
Mortgage loans $ (11,589) [9]
Net cash used by investing activities
Cash flow from financing activities:      
Borrowings from credit facilities
Principal repayments on credit facilities
Debt issuance costs
Capital lease payments
Employee stock ownership plan
Securitization deposits  
Common stock dividends paid
Investment contract deposits
Investment contract withdrawals
Net cash provided by financing activities
Effects of exchange rate on cash
Increase (decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of period    
Cash and cash equivalents at the end of the period  
[1] Balances for the year ended December 31, 2015
[2] Balances for the year ended December 31, 2014
[3] Balances for the year ended December 31, 2013
[4] Balance for the period ended December 31, 2015
[5] Balance for the period ended December 31, 2014
[6] Balance for the period ended December 31, 2013
[7] Balances as of December 31, 2014
[8] Balances as of December 31, 2015
[9] Eliminate intercompany investments