XML 16 R9.htm IDEA: XBRL DOCUMENT v3.24.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flow from operating activities:    
Net Income (Loss) $ 629,570 $ 887,063
Adjustments to reconcile net earnings to cash provided by operations:    
Depreciation 604,237 544,176
Amortization of premiums and accretion of discounts related to investments, net 12,905 15,232
Amortization of debt issuance costs 5,295 5,694
Interest credited to policyholders 52,099 39,048
Change in allowance for losses on trade receivables 1,155 4,617
Proceeds from Fees Received 11,338 16,417
Net gain on sale of real and personal property (138,653) (199,196)
Net losses on disposal of real estate 5,320 5,038
Gain (Loss) on Investments (662) 8,695
Net (gains) losses on equity securities (174) 10,906
Deferred income taxes 101,999 121,707
Net change in other operating assets and liabilities:    
Reinsurance recoverables and trade receivables (7,217) (25,853)
Inventories and parts (3,698) (8,673)
Prepaid expenses (1,509) (7,867)
Capitalization of deferred policy acquisition costs (7,629) (1,217)
Other assets (20,627) (13,734)
Related party assets (1,073) (26,775)
Increase (Decrease) in Accounts Payable and Accrued Liabilities 14,216 62,430
Increase (Decrease) in Insurance Liabilities 29,719 1,688
Other policyholders' funds and liabilities 866 1,767
Deferred income 7,046 2,168
Related party liabilities 774 1,301
Net cash provided by operating activities 1,240,043 1,515,680
Cash flow from investing activities:    
Escrow deposits (1,045) (159)
Purchase of:    
Property, plant and equipment (2,400,949) (2,076,424)
Fixed maturity investments (270,383) (491,431)
Equity securities (519) (4,828)
Investments, other (132,963) (205,672)
Proceeds from sales and paydowns of:    
Property, plant and equipment 598,170 533,595
Fixed maturity investments 447,489 148,290
Equity securities 1,417 1,187
Investments, other 46,800 223,354
Net cash used by investing activities (1,709,893) (1,871,770)
Cash flow from financing activities:    
Borrowings from credit facilities 1,037,082 975,966
Principal repayments on credit facilities (625,067) (695,321)
Payment of debt issuance costs (4,072) (4,962)
Finance lease payments (86,166) (95,290)
Securitization deposits 236 137
Common stock dividend paid   19,608
Series N Non-Voting Common Stock dividends paid (22,941) (7,059)
Investment contract deposits 214,312 258,157
Investment contract withdrawals (302,150) (236,742)
Net cash provided by financing activities 211,234 175,278
Effects of exchange rate on cash 4,068 12,706
Increase (decrease) in cash and cash equivalents (254,548) 193,518
Cash and cash equivalents at the beginning of period 2,060,524 2,704,137
Cash and cash equivalents at the end of period $ 1,805,976 $ 2,510,619