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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flow from operating activities:    
Net earnings $ 530,346 $ 688,211
Adjustments to reconcile net earnings to cash provided by operations:    
Depreciation 394,400 359,804
Amortization of deferred policy acquisition costs 14,871 14,644
Amortization of premiums and accretion of discounts related to investments, inc 8,441 10,249
Amortization of debt issuance costs 3,427 3,356
Interest credited to policyholders 36,329 24,690
Change in allowance for losses on trade receivables 578 (5,494)
Change in allowance for inventory reserves 3,461 7,125
Net gain on sale of real and personal property (102,464) (128,690)
Net losses on disposal of real estate 2,736 4,179
Net (gain) loss on sale of investments (917) 7,207
Net losses on equity investments (2,745) 7,963
Deferred income tax 107,751 103,828
Net change in other operating assets and liabilities:    
Reinsurance recoverables and trade receivables (23,402) 32,342
Inventories (13,520) (14,416)
Prepaid expenses (21,824) 3
Capitalization of deferred policy acquisition costs (7,773) (14,900)
Other assets (8,751) 2,432
Related party assets 7,403 (1,640)
Accounts payable and accrued expenses 23,248 64,297
Policy benefits and losses, claims and loss expenses payable (18,553) 11,460
Other policyholders' funds and liabilities (554) 1,314
Deferred income 4,115 9,458
Related party liabilities 828 742
Net cash provided by operating activities 937,431 1,188,164
Cash flow from investing activities:    
Escrow deposits 573 9,688
Purchase of:    
Property, plant and equipment (1,664,387) (1,335,528)
Short term investments (44,903) (36,173)
Fixed maturity investments (106,777) (202,265)
Equity securities (309) (4,356)
Real estate (537) (4,931)
Mortgage loans (97,702) (75,635)
Proceeds from sale of:    
Property, plant and equipment 408,279 329,611
Short term investments 15,959 33,373
Fixed maturity investments 389,216 106,527
Equity securities 300 717
Preferred stock 913 717
Mortgage loans 13,049 74,165
Net cash used by investing activities (1,086,326) (1,104,807)
Cash flow from financing activities:    
Borrowings from credit facilities 704,960 792,654
Principal repayments on credit facilities (351,893) (441,019)
Payment of debt issuance costs (4,018) (3,942)
Capital lease payments (59,752) (65,831)
Securitization deposits 151 49
Common stock dividends paid (14,118) (19,608)
Investment contract deposits 132,630 169,017
Investment contract withdrawals (174,256) (139,917)
Net cash provided by (used in) financing activities 233,704 291,403
Effects on exchange rate on cash (202) (13,782)
Increase (decrease) in cash and cash equivalents 84,607 360,978
Cash and cash equivalents at the beginning of period 2,060,524 2,704,137
Cash and cash equivalents at the end of period $ 2,145,131 $ 3,065,115