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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flow from operating activities:    
Net earnings $ 755,073 $ 354,091
Adjustments to reconcile net earnings to cash provided by operations:    
Depreciation 343,863 332,240
Amortization of deferred policy acquisition costs 15,573 12,440
Amortization of premiums and accretion of discounts related to investments, net 9,151 6,926
Amortization of debt issuance costs 2,791 2,755
Interest credited to policyholders 31,894 24,241
Change in allowance for losses on trade receivables 222 (140)
Change in allowance for inventory reserves 8,352 106
Net gain on sale of real and personal property (86,398) (29,131)
Net losses on disposal of real estate (3,907) 3,169
Net (gain) loss on sale of investments (3,432) (1,288)
Net losses on equity investments (4,342) 2,254
Deferred income tax 138,916 80,198
Net change in other operating assets and liabilities:    
Reinsurance recoverables and trade receivables (3,771) (28,288)
Inventories (45,718) 386
Prepaid expenses 266,780 116,064
Capitalization of deferred policy acquisition costs (17,807) (13,404)
Other assets (1,327) (553)
Related party assets (2,724) 2,785
Accounts payable and accrued expenses 91,548 112,489
Policy benefits and losses, claims and loss expenses payable 18,968 16,575
Other policyholders' funds and liabilities (1,477) (4,764)
Deferred income 7,592 13,237
Related party liabilities (700) (46)
Net cash provided by operating activities 1,519,120 1,002,342
Cash flow from investing activities:    
Escrow deposits (2,341) 1,266
Purchase of:    
Property, plant and equipment (1,039,688) (662,259)
Short term investments (21,669) (19,222)
Fixed maturity investments (415,640) (160,755)
Equity securities (36) (719)
Preferred stock (8,000) (13,111)
Real estate (124) (223)
Mortgage loans (106,963) (72,316)
Proceeds from sale of:    
Property, plant and equipment 306,946 314,335
Short term investments 16,673 23,180
Fixed maturity investments 230,043 226,656
Preferred stock 1,894 72
Mortgage loans 26,612 3,219
Net cash used by investing activities (1,012,293) (359,877)
Cash flow from financing activities:    
Borrowings from credit facilities 987,048 585,723
Principal repayments on credit facilities (227,072) (386,779)
Payment of debt issuance costs (2,092) (3,477)
Capital lease payments (87,500) (122,720)
Common stock dividends paid (19,608) (9,804)
Net contribution from (to) related party   0
Investment contract deposits 199,426 114,288
Investment contract withdrawals (116,021) (102,466)
Net cash provided by (used in) financing activities 734,181 74,765
Effects on exchange rate on cash (4,787) 3,986
Increase (decrease) in cash and cash equivalents 1,236,221 721,216
Cash and cash equivalents at the beginning of period 1,194,012 494,352
Cash and cash equivalents at the end of the period $ 2,430,233 $ 1,215,568