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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2021
Cash flow from operating activities:      
Net earnings $ 922,998 $ 1,123,286 $ 610,856
Adjustments to reconcile net earnings to cash provided by operations:      
Depreciation 733,879 696,955 664,001
Amortization of deferred policy acquisition costs 27,924 33,854 28,293
Amortization of premiums and accretion of discounts related to investments, inc 20,066 19,749 14,229
Amortization of debt issuance costs 7,087 5,659 5,948
Interest credited to policyholders 55,822 64,692 55,321
Change in allowance for losses on trade receivables (4,860) 4,227 1,206
Change in allowance for inventory reserves 9,490 15,235 1,298
Net gains on disposal of personal property (247,084) (214,203) (54,071)
Net gains on disposal of real estate 5,596 (4,120) 3,281
Net gains on sales of investments 8,300 (11,872) (10,058)
Net (gains) losses on equity investments 9,091 (7,837) (394)
Deferred income taxes 131,754 101,091 68,411
Net change in other operating assets and liabilities:      
Reinsurance recoverables and trade receivables 44,714 (9,187) (39,516)
Inventories and parts (2,225) (68,536) (5,775)
Prepaid expenses (5,575) 232,342 94,359
Capitalization of deferred policy acquisition costs (25,202) (32,626) (36,162)
Other assets 16,027 15,349 44,251
Related party assets (544) (10,357) (487)
Accounts payable and accrued expenses 34,263 10,514 78,718
Policy benefits and losses, claims and loss expenses payable (13,708) (19,692) (1,992)
Other policyholders' funds and liabilities (2,580) (1,608) 2,230
Deferred income 5,137 5,399 11,388
Related party liabilities (760) (2,079) 60
Net cash provided by operating activities 1,729,610 1,946,235 1,535,395
Cash flow from investing activities:      
Escrow deposits 9,298 (9,328) (5,221)
Purchase of:      
Property, plant and equipment (2,723,901) (2,136,537) (1,441,475)
Short term investments (60,037) (74,418) (69,929)
Fixed maturities investments (563,452) (627,326) (606,233)
Equity Securities (4,932) (19,299) (962)
Preferred stock 0 (8,000) (16,144)
Real estate (8,685) (261) (622)
Mortgage loans (204,579) (158,147) (158,071)
Proceeds from sale and paydowns of:      
Property, plant and equipment 701,331 623,235 537,484
Short term investments 74,457 51,591 69,718
Fixed maturities investments 196,635 360,937 529,239
Equity Securities 1,286 2,046 207
Preferred stock 0 2,000 2,700
Real estate 0 113 255
Mortgage loans 161,194 126,218 29,525
Net cash used by investing activities (2,421,385) (1,867,176) (1,129,529)
Cash flow from financing activities:      
Borrowings from credit facilities 1,017,898 1,969,474 922,008
Principal repayments on credit facilities (801,994) (437,506) (662,588)
Debt issuance costs (5,237) (13,156) (5,793)
Capital lease payments (124,188) (166,262) (221,247)
Securitization deposits 217 0 0
Voting Common stock dividends paid (19,608) (29,412) (49,019)
Series N Non-Voting Common Stock Dividends (14,117) 0 0
Investment contract deposits 341,483 347,520 517,856
Investment contract withdrawals (334,659) (237,503) (213,864)
Net cash provided by financing activities 59,795 1,433,155 287,353
Effects of exchange rate on cash (11,633) (2,089) 6,441
Increase (decrease) cash and cash equivalents (643,613) 1,510,125 699,660
Cash and cash equivalents at beginning of period 2,704,137 1,194,012 494,352
Cash and cash equivalents at the end of period $ 2,060,524 $ 2,704,137 $ 1,194,012