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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flow from operating activities:    
Net earnings $ 256,838 $ 338,345
Adjustments to reconcile net earnings to cash provided by operations:    
Depreciation 193,475 178,144
Amortization of deferred policy acquisition costs 8,045 7,672
Amortization of premiums and accretion of discounts related to investments, inc 4,394 4,929
Amortization of debt issuance costs 1,456 1,473
Interest credited to policyholders 17,538 15,157
Change in allowance for losses on trade receivables 592 (6,151)
Change in allowance for inventory reserves (327) 4,646
Net gain on sale of real and personal property (55,661) (64,348)
Net losses on disposal of real estate 1,021 2,307
Net (gain) loss on sale of investments (1,914) 268
Net (gain) losses equity investments (2,429) 1,551
Deferred income tax 34,108 63,493
Net change in other operating assets and liabilities:    
Reinsurance recoverables and trade receivables (17,435) 15,894
Inventories (13,068) (10,347)
Prepaid expenses 9,870 4,935
Capitalization of deferred policy acquisition costs (3,177) (7,398)
Other assets (9,957) 1,935
Related party assets 3,132 484
Accounts payable and accrued expenses 33,112 74,676
Policy benefits and losses, claims and loss expenses payable (12,098) 6,043
Other policyholders' funds and liabilities 3,986 1,187
Deferred income 11,999 14,448
Related party liabilities 2,197 2,028
Net cash provided by operating activities 465,697 651,371
Cash flow from investing activities:    
Escrow deposits (361) 4,789
Purchase of:    
Property, plant and equipment (773,577) (646,137)
Short term investments (9,957) (22,017)
Fixed maturity investments (3,251) (36,488)
Equity Securities (242) (1,366)
Real estate (415) 0
Mortgage loans (52,450) (42,561)
Proceeds from sale of:    
Property, plant and equipment 193,455 159,180
Short term investments 11,745 18,073
Fixed maturity investments 336,859 55,808
Preferred stock 236 362
Mortgage loans 8,377 32,345
Net cash used by investing activities (288,668) (478,012)
Cash flow from financing activities:    
Borrowings from credit facilities 445,493 393,264
Principal repayments on credit facilities (232,824) (145,369)
Payment of debt issuance costs (2,688) (1,069)
Capital lease payments (34,168) (34,982)
Common stock dividends paid 0 (9,804)
Investment contract deposits 51,239 85,767
Investment contract withdrawals (83,331) (62,911)
Net cash provided by (used in) financing activities 136,741 224,896
Effects on exchange rate on cash 2,830 (4,121)
Increase (decrease) cash and cash equivalents 316,600 394,134
Cash and cash equivalents at beginning of period 2,060,524 2,704,137
Cash and cash equivalents at end of period $ 2,377,124 $ 3,098,271