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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities      
Net Income $ 1,779.1 $ 1,283.8 $ 1,407.2
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities      
Change in Receivables 623.9 602.7 590.6
Change in Deferred Acquisition Costs (130.5) (150.8) (135.8)
Change in Insurance Liabilities (780.9) (313.2) (244.7)
Change in Income Taxes 97.6 (84.3) (31.3)
Change in Other Accrued Liabilities (32.3) (74.8) (113.9)
Non-cash Components of Net Investment Income (248.9) (240.3) (247.0)
Net Investment Loss 34.6 36.0 15.7
Depreciation 116.1 108.8 110.5
Amortization of the Cost of Reinsurance 41.4 44.1 50.3
Other, Net 13.1 (9.2) 17.1
Net Cash Provided by Operating Activities 1,513.2 1,202.8 1,418.7
Cash Flows from Investing Activities      
Proceeds from Sales of Fixed Maturity Securities 877.3 1,062.7 559.5
Proceeds from Maturities of Fixed Maturity Securities 1,483.0 1,578.1 1,532.5
Proceeds from Sales and Maturities of Other Investments 332.1 360.0 445.9
Purchase of Fixed Maturity Securities (2,001.7) (2,991.4) (2,835.3)
Purchase of Other Investments (319.1) (361.2) (482.9)
Net Purchases of Short-term Investments (842.1) (141.0) (22.6)
Net Increase (Decrease) in Payables for Collateral on Investments 251.8 (98.3) (50.8)
Net Purchases of Property and Equipment (125.7) (134.8) (102.2)
Net Cash Used by Investing Activities (344.4) (725.9) (955.9)
Cash Flows from Financing Activities      
Short-term Debt Repayment 0.0 (2.0) 0.0
Issuance of Long-term Debt 391.6 0.0 349.2
Long-term Debt Repayment (350.0) 0.0 (364.0)
Cost Related to Early Retirement of Debt 0.0 0.0 3.6
Issuance of Common Stock 6.0 5.2 4.0
Repurchase of Common Stock (972.9) (250.1) (200.1)
Dividends Paid to Stockholders (296.5) (277.1) (254.2)
Proceeds from Policyholder Account Deposits 133.2 143.4 119.8
Payments for Policyholder Account Withdrawals (82.7) (87.0) (72.0)
Cash Received Related to Active Life Volatility Cover Agreement 26.7 18.6 5.2
Other, Net (7.4) (1.1) (2.9)
Net Cash Used by Financing Activities (1,152.0) (450.1) (418.6)
Net Increase (Decrease) in Cash and Bank Deposits 16.8 26.8 44.2
Cash and Bank Deposits at Beginning of Year 146.0 119.2 75.0
Cash and Bank Deposits at End of Year $ 162.8 $ 146.0 $ 119.2