XML 132 R113.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidating financial information by industry segment (Cash Flow Statements) (Details) - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Mar. 31, 2015
Cash flow from operating activities:      
Net earnings $ 398,424 $ 489,001 $ 356,741
Earnings from consolidated subsidiaries
Adjustments to reconcile net earnings to cash provided by operations:      
Depreciation 481,520 389,393 352,796
Amortization of deferred policy acquisition costs 26,218 23,272 19,661
Amortization of debt issuance costs 4,062 3,419 3,786
Interest credited to policy holders 25,020 20,465 18,110
Change in allowance for losses on trade receivables (46) (205) (168)
Change in allowance for inventory reserves 1,330 (1,343) (872)
Net gain on sale of real and personal property (36,085) (98,703) (74,631)
Net gain (loss) on sale of investments (5,284) (4,491) (3,925)
Deferred income taxes 173,112 138,075 76,500
Net change in other operating assets and liabilities:      
Reinsurance recoverables and trade receivables (2,890) 14,765 9,632
Inventories (4,072) (9,009) (1,579)
Prepaid expenses 9,386 (10,338) (65,720)
Capitalization of deferred policy acquisition costs (27,111) (32,590) (27,084)
Other assets (40,546) 11,903 (51)
Related party assets 343 56,644 27,706
Accounts payable and accrued expenses (5,056) 37,312 98,877
Policy benefits and losses, claims and loss expenses payable 15,378 9,626 (17,621)
Other policyholders' funds and liabilities 1,499 (349) 988
Deferred income 5,921 4,757 (13,181)
Related party liabilities (1,062) (616) (866)
Net cash provided by operating activities 1,020,061 1,040,988 759,099
Cash flow from investing activities:      
Property, plant and equipment (1,419,505) (1,509,154) (1,041,931)
Short term investments (635,847) (515,899) (290,379)
Fixed maturities investments (355,101) (398,987) (214,371)
Equity securities (489) (1,315) (3,759)
Preferred stock (1,005) (2,006)
Real estate (32,807) (15,459) (38,275)
Mortgage loans (154,310) (87,204) (19,807)
Proceeds from sale and paydowns of:      
Property, plant and equipment 487,475 539,256 411,629
Short term investments 655,726 528,180 287,883
Fixed maturities investments 190,578 154,536 107,867
Equity securities 2,044 3,082
Preferred stock 4,181 1,126 2,427
Real estate 8,753 21,589 28,485
Mortgage loans 106,832 26,968 13,894
Net cash used by investing activities (1,144,514) (1,255,324) (755,261)
Cash flow from financing activities:      
Borrowings from credit facilities 742,625 837,972 657,535
Principal repayments on credit facilities (367,844) (428,403) (593,722)
Debt issuance costs (5,055) (10,184) (12,327)
Capital lease payments (212,545) (168,661) (121,202)
Employee stock ownership plan (11,106) (9,302) (7,939)
Securitization deposits 446 544
Common stock dividends paid (58,757) (78,374) (19,594)
Investment contract deposits 285,148 358,237 105,019
Investment contract withdrawals (149,159) (112,957) (54,108)
Net cash provided by financing activities 223,753 388,872 (46,338)
Effects of exchange rate on cash (2,140) (15,740) (10,762)
Increase (decrease) in cash and cash equivalents 97,160 158,796 (53,262)
Cash and cash equivalents at the beginning of period 600,646 441,850 495,112
Cash and cash equivalents at the end of the period 697,806 600,646 441,850
Operating Segments [Member] | Moving and Storage Consolidations [Member]      
Cash flow from operating activities:      
Net earnings 398,424 489,001 356,741
Earnings from consolidated subsidiaries (35,797) (35,522) (34,783)
Adjustments to reconcile net earnings to cash provided by operations:      
Depreciation 481,520 389,393 352,796
Amortization of deferred policy acquisition costs
Amortization of debt issuance costs 4,062 3,419 3,786
Interest credited to policy holders
Change in allowance for losses on trade receivables 31 7 (179)
Change in allowance for inventory reserves 1,330 (1,343) (872)
Net gain on sale of real and personal property (36,085) (98,703) (74,631)
Net gain (loss) on sale of investments
Deferred income taxes 173,059 124,838 66,628
Net change in other operating assets and liabilities:      
Reinsurance recoverables and trade receivables (6,806) (2,169) (3,213)
Inventories (4,072) (9,009) (1,579)
Prepaid expenses 9,386 (10,338) (65,720)
Capitalization of deferred policy acquisition costs
Other assets (41,885) 12,812 651
Related party assets (872) 55,962 27,753
Accounts payable and accrued expenses (14,793) 26,018 91,409
Policy benefits and losses, claims and loss expenses payable 13,283 23,215 (4,327)
Other policyholders' funds and liabilities
Deferred income 5,921 4,757 (13,181)
Related party liabilities (1,170) 17,296 (1,016)
Net cash provided by operating activities 945,536 989,634 700,263
Cash flow from investing activities:      
Property, plant and equipment (1,419,505) (1,509,154) (1,041,931)
Short term investments
Fixed maturities investments
Equity securities
Preferred stock  
Real estate (19,406) (15,384) (22,876)
Mortgage loans
Proceeds from sale and paydowns of:      
Property, plant and equipment 487,475 539,256 411,629
Short term investments
Fixed maturities investments
Equity securities  
Preferred stock
Real estate 21,589 28,089
Mortgage loans 6,275
Net cash used by investing activities (945,161) (963,693) (625,089)
Cash flow from financing activities:      
Borrowings from credit facilities 715,625 790,972 657,535
Principal repayments on credit facilities (340,844) (381,403) (593,722)
Debt issuance costs (5,055) (10,184) (12,327)
Capital lease payments (212,545) (168,661) (121,202)
Employee stock ownership plan (11,106) (9,302) (7,939)
Securitization deposits 446 544  
Common stock dividends paid (58,757) (78,374) (19,594)
Investment contract deposits
Investment contract withdrawals
Net cash provided by financing activities 87,764 143,592 (97,249)
Effects of exchange rate on cash (2,140) (15,740) (10,762)
Increase (decrease) in cash and cash equivalents 85,999 153,793 (32,837)
Cash and cash equivalents at the beginning of period 585,666 431,873 464,710
Cash and cash equivalents at the end of the period 671,665 585,666 431,873
Operating Segments [Member] | Property and Casualty Insurance [Member]      
Cash flow from operating activities:      
Net earnings 17,815 [1] 16,168 [2] 15,417 [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]
Amortization of debt issuance costs
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 (2,636) [4] (1,317) [5] (841) [6]
Deferred income taxes 2,340 [4] 9,311 [5] 8,030 [6]
Net change in other operating assets and liabilities:      
Reinsurance recoverables and trade receivables 4,221 [4] 13,528 [5] 16,830 [6]
Inventories [4] [5] [6]
Prepaid expenses [4] [5] [6]
Capitalization of deferred policy acquisition costs [4] [5] [6]
Other assets 1,341 [4] (1,050) [5] 102 [6]
Related party assets 1,215 [4] 682 [5] (258) [6]
Accounts payable and accrued expenses 392 [4] 1,533 [5] 22 [6]
Policy benefits and losses, claims and loss expenses payable (7,838) [4] (18,925) [5] (23,472) [6]
Other policyholders' funds and liabilities 1,167 [4] (1,056) [5] 317 [6]
Deferred income [4] [5] [6]
Related party liabilities 226 [4] 115 [5] 428 [6]
Net cash provided by operating activities 18,243 [4] 18,989 [5] 16,575 [6]
Cash flow from investing activities:      
Property, plant and equipment [4] [5] [6]
Short term investments (77,693) [4] (44,735) [5] (40,583) [6]
Fixed maturities investments (42,628) [4] (45,048) [5] (43,062) [6]
Equity securities [4] [5] (3,333) [6]
Preferred stock   (1,005) [5] (1,006) [6]
Real estate (4,648) [4] (36) [5] (7,857) [6]
Mortgage loans (21,021) [4] (1,800) [5] (4,350) [6]
Proceeds from sale and paydowns of:      
Property, plant and equipment [4] [5] [6]
Short term investments 80,225 [4] 44,756 [5] 53,112 [6]
Fixed maturities investments 32,127 [4] 26,193 [5] 18,556 [6]
Equity securities   1,236 [5] 3,082 [6]
Preferred stock 4,181 [4] 1,126 [5] 400 [6]
Real estate [4] [6]
Mortgage loans 9,890 [4] 5,878 [5] 4,203 [6]
Net cash used by investing activities (19,567) [4] (13,435) [5] (20,838) [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]  
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 (1,324) [4] 5,554 [5] (4,263) [6]
Cash and cash equivalents at the beginning of period 14,049 [7] 8,495 [6] 12,758 [6]
Cash and cash equivalents at the end of the period 12,725 [8] 14,049 [7] 8,495 [6]
Operating Segments [Member] | Life Insurance [Member]      
Cash flow from operating activities:      
Net earnings 17,982 [1] 19,354 [2] 19,366 [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 26,218 [1] 23,272 [2] 19,661 [3]
Amortization of debt issuance costs
Interest credited to policy holders 25,020 [4] 20,465 [5] 18,110 [6]
Change in allowance for losses on trade receivables (77) [4] (212) [5] 11 [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 (2,648) [4] (3,174) [5] (3,084) [6]
Deferred income taxes (2,287) [4] 3,926 [5] 1,842 [6]
Net change in other operating assets and liabilities:      
Reinsurance recoverables and trade receivables (305) [4] 3,406 [5] (3,985) [6]
Inventories [4] [5] [6]
Prepaid expenses [4] [5] [6]
Capitalization of deferred policy acquisition costs (27,111) [4] (32,590) [5] (27,084) [6]
Other assets (2) [4] 141 [5] (804) [6]
Related party assets [4] (18,075) [5] [6]
Accounts payable and accrued expenses 9,345 [4] 9,761 [5] 7,446 [6]
Policy benefits and losses, claims and loss expenses payable 9,933 [4] 5,336 [5] 10,178 [6]
Other policyholders' funds and liabilities 332 [4] 707 [5] 671 [6]
Deferred income [4] [5] [6]
Related party liabilities (118) [4] 48 [5] (67) [6]
Net cash provided by operating activities 56,282 [4] 32,365 [5] 42,261 [6]
Cash flow from investing activities:      
Property, plant and equipment [4] [5] [6]
Short term investments (558,154) [4] (471,164) [5] (249,796) [6]
Fixed maturities investments (312,473) [4] (353,939) [5] (171,309) [6]
Equity securities (489) [4] (1,315) [5] (426) [6]
Preferred stock   [5] (1,000) [6]
Real estate (8,753) [4] (39) [5] (7,542) [6]
Mortgage loans (133,289) [4] (85,404) [5] (15,457) [6]
Proceeds from sale and paydowns of:      
Property, plant and equipment [4] [5] [6]
Short term investments 575,501 [4] 483,424 [5] 234,771 [6]
Fixed maturities investments 158,451 [4] 128,343 [5] 89,311 [6]
Equity securities   808 [5] [6]
Preferred stock [4] [5] 2,027 [6]
Real estate 2,478 [4] 396 [6]
Mortgage loans 96,942 [4] 21,090 [5] 9,691 [6]
Net cash used by investing activities (179,786) [4] (278,196) [5] (109,334) [6]
Cash flow from financing activities:      
Borrowings from credit facilities 27,000 [4] 47,000 [5] [6]
Principal repayments on credit facilities (27,000) [4] (47,000) [5] [6]
Debt issuance costs [4] [5] [6]
Capital lease payments [4] [5] [6]
Employee stock ownership plan [4] [5] [6]
Securitization deposits [4]  
Common stock dividends paid [4] [5] [6]
Investment contract deposits 285,148 [4] 358,237 [5] 105,019 [6]
Investment contract withdrawals (149,159) [4] (112,957) [5] (54,108) [6]
Net cash provided by financing activities 135,989 [4] 245,280 [5] 50,911 [6]
Effects of exchange rate on cash [4] [5] [6]
Increase (decrease) in cash and cash equivalents 12,485 [4] (551) [5] (16,162) [6]
Cash and cash equivalents at the beginning of period 931 [7] 1,482 [6] 17,644 [6]
Cash and cash equivalents at the end of the period 13,416 [8] 931 [7] 1,482 [6]
Eliminations [Member]      
Cash flow from operating activities:      
Net earnings (35,797) (35,522) (34,783)
Earnings from consolidated subsidiaries 35,797 35,522 34,783
Adjustments to reconcile net earnings to cash provided by operations:      
Depreciation
Amortization of deferred policy acquisition costs
Amortization of debt issuance 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 18,075 [9] 211 [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 (18,075) [9] (211) [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 [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 [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, 2016
[2] Balances for the year ended December 31, 2015
[3] Balances for the year ended December 31, 2014
[4] Balance for the period ended December 31, 2016
[5] Balance for the period ended December 31, 2015
[6] Balance for the period ended December 31, 2014
[7] Balances as of December 31, 2015
[8] Balances as of December 31, 2016
[9] Eliminate intercompany investments