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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Management fee received $ 2,898,367 $ 2,420,192 $ 2,100,989
Administrative services reimbursements received 776,150 721,928 668,857
Service agreement revenue received 26,346 26,018 25,515
Net investment income received 67,643 57,448 40,161
Commissions paid to agents (1,443,296) (1,200,014) (1,042,158)
Incentive compensation paid to agents (94,864) (120,211) (136,403)
Salaries and wages paid (249,137) (226,036) (208,575)
Pension contribution and employee benefits paid (110,764) (169,762) (68,433)
General operating expenses paid (308,273) (293,857) (263,524)
Administrative services expenses paid (791,050) (730,129) (667,524)
Income taxes paid (159,873) (104,372) (80,619)
Interest paid 0 0 (2,134)
Net cash provided by operating activities 611,249 381,205 366,152
Purchase of investments:      
Available-for-sale securities (473,647) (279,999) (465,071)
Equity securities (32,799) (35,480) (18,929)
Other investments (7,075) (88) (157)
Proceeds from investments:      
Available-for-sale securities sales 205,159 160,614 295,996
Available-for-sale securities maturities/calls 196,641 76,617 130,401
Equity securities 35,894 24,458 20,456
Other investments 54 871 429
Purchase of fixed assets (124,845) (92,647) (67,204)
Proceeds from disposal of fixed assets 0 0 265
Loans to agents and others (36,362) (20,525) (11,631)
Collections on agent loans 10,068 8,614 8,523
Net cash used in investing activities (226,912) (157,565) (106,922)
Cash flows from financing activities      
Dividends paid to shareholders (237,508) (221,675) (206,772)
Net changes in cash collateral for securities lent 7,513 0 0
Proceeds from short-term borrowings 0 0 55,000
Payments on short-term borrowings 0 0 (55,000)
Payments on long-term borrowings 0 0 (94,070)
Net cash used in financing activities (229,995) (221,675) (300,842)
Net increase (decrease) in cash, cash equivalents and restricted cash 154,342 1,965 (41,612)
Cash, cash equivalents and restricted cash, beginning of year 144,055 142,090 183,702
Cash, cash equivalents and restricted cash, end of year 298,397 144,055 142,090
Supplemental disclosure of noncash transactions      
Liability incurred to purchase fixed assets 15,254 0 26,386
Operating lease assets obtained in exchange for lease liabilities $ 7,871 $ 5,866 $ 7,650