XML 18 R8.htm IDEA: XBRL DOCUMENT v3.24.2
STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Management fee received $ 1,389,944 $ 1,162,575
Administrative services reimbursements received 373,908 359,332
Service agreement revenue received 12,989 12,788
Net investment income received 31,590 27,069
Commissions paid to agents (681,345) (564,218)
Incentive compensation paid to agents (80,633) (106,003)
Salaries and wages paid (131,226) (123,501)
Pension contribution and employee benefits paid (70,588) (37,460)
General operating expenses paid (161,102) (151,975)
Administrative services expenses paid (385,036) (362,228)
Income taxes paid (79,881) (36,372)
Net cash provided by operating activities 218,620 180,007
Purchase of investments:    
Available-for-sale securities (236,000) (123,767)
Equity securities (13,142) (18,690)
Other investments (7,000) (7)
Proceeds from investments:    
Available-for-sale securities sales 105,172 78,808
Available-for-sale securities maturities/calls 100,655 28,972
Equity securities 19,929 10,579
Other investments 0 271
Purchase of fixed assets (50,488) (45,003)
Loans to agents and other (4,340) (4,150)
Collections on agent loans 5,582 4,723
Net cash used in investing activities (79,632) (68,264)
Cash flows from financing activities    
Dividends paid to shareholders (118,754) (110,837)
Net changes in cash collateral for securities lent 6,345 0
Net cash used in financing activities (112,409) (110,837)
Net increase in cash, cash equivalents and restricted cash 26,579 906
Cash, cash equivalents and restricted cash beginning of period 144,055 142,090
Cash, cash equivalents and restricted cash end of period 170,634 142,996
Supplemental disclosure of noncash transactions    
Liability incurred to purchase fixed assets 11,163 0
Operating lease assets obtained in exchange for lease liabilities $ 4,663 $ 3,757