XML 19 R8.htm IDEA: XBRL DOCUMENT v3.23.2
STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Management fee received $ 1,162,575 $ 1,019,016
Administrative services reimbursements received 359,332 317,819
Service agreement revenue received 12,788 12,742
Net investment income received 27,069 18,595
Commissions paid to agents (564,218) (493,058)
Agents bonuses paid (106,003) (126,902)
Salaries and wages paid (123,501) (114,075)
Employee benefits paid (37,460) (21,108)
General operating expenses paid (151,975) (132,297)
Administrative services expenses paid (362,228) (333,532)
Income taxes paid (36,372) (38,989)
Interest paid 0 (1,937)
Net cash provided by operating activities 180,007 106,274
Purchase of investments:    
Available-for-sale securities (123,767) (211,492)
Equity securities (18,690) (7,157)
Other investments (7) (157)
Proceeds from investments:    
Available-for-sale securities sales 78,808 123,758
Available-for-sale securities maturities/calls 28,972 74,628
Equity securities 10,579 10,131
Other investments 271 429
Purchase of fixed assets (45,003) (28,021)
Proceeds from disposal of fixed assets 0 156
Loans to agents (4,150) (8,769)
Collections on agent loans 4,723 4,298
Net cash used in investing activities (68,264) (42,196)
Cash flows from financing activities    
Dividends paid to shareholders (110,837) (103,386)
Proceeds from short-term borrowings 0 55,000
Payments on short-term borrowings 0 (15,000)
Payments on long-term borrowings 0 (94,070)
Net cash used in financing activities (110,837) (157,456)
Net increase (decrease) in cash and cash equivalents 906 (93,378)
Cash and cash equivalents, beginning of period 142,090 183,702
Cash and cash equivalents, end of period 142,996 90,324
Supplemental disclosure of noncash transactions    
Liability incurred to purchase fixed assets 0 24,833
Operating lease assets obtained in exchange for lease liabilities $ 3,757 $ 1,487