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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Cash flow from operating activities:      
Net earnings $ 442,048 $ 370,857 $ 790,583
Adjustments to reconcile net earnings to cash provided by operations:      
Depreciation 664,120 581,025 555,069
Amortization of deferred policy acquisition costs 31,219 28,556 24,514
Amortization of premiums and accretion of discounts related to investments, net 13,317 13,107 12,790
Amortization of debt issuance costs 4,426 3,923 3,868
Interest credited to policyholders 51,857 35,387 32,302
Change in allowance for losses on trade receivables (14) 52 (120)
Change in allowance for inventory reserves 640 (146) 5,065
Net gains on disposal of real estate (758) (44) (195,414)
Net gains on sales of investments (13,596) (2,663) (6,269)
Net losses on equity investments (3,783) 5,739 0
Deferred income taxes 317,893 106,811 (193,434)
Net change in other operating assets and liabilities:      
Reinsurance recoverables and trade receivables 38,129 (31,365) (15,329)
Inventories and parts 1,776 (13,492) (12,384)
Prepaid expenses (391,120) (8,620) (40,765)
Capitalization of deferred policy acquisition costs (24,447) (25,957) (27,350)
Other assets (1,295) 157,152 (165,968)
Related party assets (5,645) 4,194 53,408
Accounts payable and accrued expenses (4,530) 10,263 (36,980)
Policy benefits and losses, claims and loss expenses payable (12,618) (236,120) 161,121
Other policyholders' funds and liabilities (4,857) 5,007 (109)
Deferred income (1,818) 966 5,524
Related party liabilities 1,626 (2,067) (616)
Net cash provided by operating activities 1,075,513 975,583 937,684
Cash flow from investing activities:      
Escrow deposits 6,617 4,299 31,362
Purchase of:      
Property, plant and equipment (2,309,406) (1,869,968) (1,363,745)
Short term investments (61,226) (54,048) (63,556)
Fixed maturities investments (379,349) (540,045) (390,900)
Equity securities (83) (957) (662)
Preferred stock 0 0 (1,000)
Real estate (4,286) (635) (1,939)
Mortgage loans (62,016) (63,611) (83,507)
Proceeds from sale and paydowns of:      
Property, plant and equipment 687,375 606,271 699,803
Short term investments 59,056 66,037 67,790
Fixed maturities investments 268,636 123,551 163,469
Equity securities 185 8,608 0
Preferred stock 2,375 1,625 4,208
Real estate 311 0 2,783
Mortgage loans 25,162 147,737 37,590
Net cash used by investing activities (1,766,649) (1,571,136) (898,304)
Cash flow from financing activities:      
Borrowings from credit facilities 1,121,412 897,311 498,464
Principal repayments on credit facilities (349,986) (299,748) (356,451)
Debt issuance costs (5,332) (7,243) (5,111)
Capital lease payments (307,782) (303,431) (296,363)
Employee stock ownership plan     (11,640)
Securitization deposits 0 0 (2,180)
Common stock dividends paid (29,404) (39,179) (29,380)
Investment contract deposits 234,640 400,123 401,814
Investment contract withdrawals (151,022) (132,833) (182,549)
Net cash provided by financing activities 512,320 514,582 16,604
Effects of exchange rate on cash (533) (4,716) 5,598
Increase (decrease) in cash and cash equivalents (179,349) (85,687) 61,582
Cash and cash equivalents at the beginning of period 673,701 759,388 697,806
Cash and cash equivalents at the end of the period $ 494,352 $ 673,701 $ 759,388