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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flow from operating activities:    
Net earnings $ 686,017 $ 755,073
Adjustments to reconcile net earnings to cash provided by operations:    
Depreciation 359,804 343,863
Amortization of deferred policy acquisition costs 14,644 15,573
Amortization of premiums and accretion of discounts related to investments, inc 10,249 9,151
Amortization of debt issuance costs 3,356 2,791
Interest credited to policyholders 24,690 31,894
Change in allowance for losses on trade receivables (5,494) 222
Change in allowance for inventory reserves 7,125 8,352
Net gain on sale of real and personal property (128,690) (86,398)
Net losses on disposal of real estate 4,179 (3,907)
Net (gain) loss on sale of investments 7,207 (3,432)
Net losses on equity investments 7,963 (4,342)
Deferred income tax 103,828 138,916
Net change in other operating assets and liabilities:    
Reinsurance recoverables and trade receivables 32,342 (3,771)
Inventories (14,416) (45,718)
Prepaid expenses 3 266,780
Capitalization of deferred policy acquisition costs (14,900) (17,807)
Other assets 2,432 (1,327)
Related party assets (1,640) (2,724)
Accounts payable and accrued expenses 64,297 91,548
Policy benefits and losses, claims and loss expenses payable 13,654 18,968
Other policyholders' funds and liabilities 1,314 (1,477)
Deferred income 9,458 7,592
Related party liabilities 742 (700)
Net cash provided by operating activities 1,188,164 1,519,120
Cash flow from investing activities:    
Escrow deposits 9,688 (2,341)
Purchase of:    
Property, plant and equipment (1,335,528) (1,039,688)
Short term investments (36,173) (21,669)
Fixed maturity investments (202,265) (415,640)
Equity securities (4,356) (36)
Preferred stock 0 (8,000)
Real estate (4,931) (124)
Mortgage loans (75,635) (106,963)
Proceeds from sale of:    
Property, plant and equipment 329,611 306,946
Short term investments 33,373 16,673
Fixed maturity investments 106,527 230,043
Preferred stock 717 1,894
Mortgage loans 74,165 26,612
Net cash used by investing activities (1,104,807) (1,012,293)
Cash flow from financing activities:    
Borrowings from credit facilities 792,654 987,048
Principal repayments on credit facilities (441,019) (227,072)
Payment of debt issuance costs (3,942) (2,092)
Capital lease payments (65,831) (87,500)
Securitization deposits 49 0
Common stock dividends paid (19,608) (19,608)
Investment contract deposits 169,017 199,426
Investment contract withdrawals (139,917) (116,021)
Net cash provided by (used in) financing activities 291,403 734,181
Effects on exchange rate on cash (13,782) (4,787)
Increase (decrease) in cash and cash equivalents 360,978 1,236,221
Cash and cash equivalents at the beginning of period 2,704,137 1,194,012
Cash and cash equivalents at the end of period $ 3,065,115 $ 2,430,233