XML 17 R9.htm IDEA: XBRL DOCUMENT v3.25.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flow from operating activities:    
Net Income (Loss) $ 449,381 $ 629,570
Adjustments to reconcile net earnings to cash provided by operations:    
Depreciation 718,755 604,237
Amortization of premiums and accretion of discounts related to investments, net 10,431 12,905
Amortization of debt issuance costs 4,275 5,295
Interest credited to policyholders 58,290 52,099
Change in allowance for losses on trade receivables 1,463 1,155
Proceeds from Fees Received 8,015 11,338
Net gain on sale of real and personal property (28,849) (138,653)
Net losses on disposal of real estate 9,453 5,320
Net (gains) losses on sales of fixed maturity securities (19) (662)
Net gains on equity securities (7,299) (174)
Deferred income taxes 48,769 101,999
Net change in other operating assets and liabilities:    
Reinsurance recoverables and trade receivables (34,720) (7,217)
Inventories and parts (4,209) (3,698)
Prepaid expenses (20,559) (1,509)
Capitalization of deferred policy acquisition costs (1,791) (7,629)
Other assets (19,270) (20,627)
Related party assets (2,404) (1,073)
Increase (Decrease) in Accounts Payable and Accrued Liabilities 20,461 14,216
Policy benefits and losses, claims and loss expenses payable 22,069 29,719
Other policyholders' funds and liabilities 2,825 866
Deferred income (3,602) (7,046)
Related party liabilities 909 774
Net cash provided by operating activities 1,255,896 1,240,043
Cash flow from investing activities:    
Increase Decrease Escrow Deposits 3,445 1,045
Purchase of:    
Property, plant and equipment (2,863,496) (2,400,949)
Fixed maturity investments (441,974) (270,383)
Equity securities (852) (519)
Investments, other (92,774) (132,963)
Proceeds from sales and paydowns of:    
Property, plant and equipment 530,135 598,170
Fixed maturity investments 318,634 447,489
Equity securities 10,842 1,417
Investments, other 97,594 46,800
Net cash used by investing activities (2,438,446) (1,709,893)
Cash flow from financing activities:    
Borrowings from credit facilities 1,404,974 1,037,082
Principal repayments on credit facilities (713,949) (625,067)
Payment of debt issuance costs (4,224) (4,072)
Finance lease payments (60,661) (86,166)
Securitization deposits 331 236
Series N Non-Voting Common Stock dividends paid (26,471) (22,941)
Investment contract deposits 389,848 214,312
Investment contract withdrawals (318,005) (302,150)
Net cash provided by financing activities 671,843 211,234
Effects of exchange rate on cash 6,439 4,068
Increase (decrease) in cash and cash equivalents 517,146 (254,548)
Cash and cash equivalents at the beginning of period 1,534,544 2,060,524
Cash and cash equivalents at the end of period $ 1,017,398 $ 1,805,976