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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flow from operating activities:    
Net earnings $ 334,002 $ 345,175
Adjustments to reconcile net earnings to cash provided by operations:    
Depreciation 178,144 172,040
Amortization of deferred policy acquisition costs 7,672 8,823
Amortization of premiums and accretion of discounts related to investments, inc 4,929 4,361
Amortization of debt issuance costs 1,473 1,332
Interest credited to policyholders 15,157 15,583
Change in allowance for losses on trade receivables (6,151) (484)
Change in allowance for inventory reserves 4,646 3,403
Net gain on sale of real and personal property (64,348) (50,323)
Net losses on disposal of real estate 2,307 (4,430)
Net (gain) loss on sale of investments 268 (2,469)
Net (gain) losses equity investments 1,551 (2,231)
Deferred income tax 63,493 82,374
Net change in other operating assets and liabilities:    
Reinsurance recoverables and trade receivables 15,894 (8,082)
Inventories (10,347) (15,765)
Prepaid expenses 4,935 162,706
Capitalization of deferred policy acquisition costs (7,398) (8,990)
Other assets 1,935 (853)
Related party assets 484 562
Accounts payable and accrued expenses 74,676 71,599
Policy benefits and losses, claims and loss expenses payable 10,386 9,064
Other policyholders' funds and liabilities 1,187 (1,430)
Deferred income 14,448 11,863
Related party liabilities 2,028 385
Net cash provided by operating activities 651,371 794,213
Cash flow from investing activities:    
Escrow deposits 4,789 1,887
Purchase of:    
Property, plant and equipment (646,137) (508,411)
Short term investments (22,017) (11,810)
Fixed maturity investments (36,488) (281,507)
Equity securities (1,366) 0
Preferred stock 0 (8,000)
Real estate 0 (67)
Mortgage loans (42,561) (42,538)
Proceeds from sale of:    
Property, plant and equipment 159,180 182,146
Short term investments 18,073 12,558
Fixed maturity investments 55,808 126,956
Preferred stock 362 0
Mortgage loans 32,345 5,628
Net cash used by investing activities (478,012) (523,158)
Cash flow from financing activities:    
Borrowings from credit facilities 393,264 161,854
Principal repayments on credit facilities (145,369) (109,334)
Payment of debt issuance costs (1,069) (352)
Capital lease payments (34,982) (45,170)
Common stock dividends paid (9,804) 0
Investment contract deposits 85,767 113,779
Investment contract withdrawals (62,911) (64,332)
Net cash provided by (used in) financing activities 224,896 56,445
Effects on exchange rate on cash (4,121) (1,531)
Increase (decrease) cash and cash equivalents 394,134 325,969
Cash and cash equivalents at the beginning of period 2,704,137 1,194,012
Cash and cash equivalents at the end of the period $ 3,098,271 $ 1,519,981