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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows from Operating Activities    
Net Income $ 1,430.4 $ 953.2
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities    
Change in Receivables 566.4 455.9
Deferred Policy Acquisition Cost (107.4) (108.8)
Change in Insurance Liabilities (631.0) (169.3)
Change in Income Taxes 21.9 (26.9)
Change in Other Accrued Liabilities (58.3) (150.2)
Non-cash Components of Net Investment Income (327.9) (262.9)
Net Investment Loss 24.5 30.0
Depreciation 89.9 80.9
Amortization of the Cost of Reinsurance 31.1 33.1
Other, Net (12.2) 24.3
Net Cash Provided by Operating Activities 1,027.4 859.3
Cash Flows from Investing Activities    
Proceeds from Sale of Debt Securities, Available-for-sale 356.5 1,013.5
Proceeds from Maturities of Fixed Maturity Securities 997.2 1,113.9
Proceeds from Sales and Maturities of Other Investments 234.8 275.2
Payments to Acquire Debt Securities, Available-for-sale (1,550.9) (2,439.4)
Purchases of Other Investments (218.6) (227.1)
Net Purchases of Short-term Investments (307.9) (45.2)
Net Increase (Decrease) in Payables for Collateral on Investments 189.5 (100.4)
Net Purchases of Property and Equipment (93.7) (89.1)
Net Cash Used by Investing Activities (393.1) (498.6)
Cash Flows from Financing Activities    
Issuance of Long-term Debt 391.6 0.0
Repayments of Long-term Debt 350.0 0.0
Issuance of Common Stock 4.8 4.1
Repurchase of Common Stock (500.0) (174.2)
Dividends Paid to Stockholders (219.3) (205.7)
Proceeds from Policyholder Account Deposits 100.9 109.3
Payments for Policyholder Account Withdrawals (65.5) (65.2)
Cash Received Related to Active Life Volatility Cover Agreement 26.7 18.6
Other, Net (6.1) (0.9)
Net Cash Used by Financing Activities (616.9) (314.0)
Net Increase (Decrease) in Cash and Bank Deposits 17.4 46.7
Cash and Bank Deposits at Beginning of Year 146.0 119.2
Cash and Bank Deposits at End of Period $ 163.4 $ 165.9