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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Management fee received $ 1,474,277 $ 1,389,944
Administrative services reimbursements received 500,337 373,908
Service agreement revenue received 11,735 12,989
Net investment income received 37,795 31,590
Commissions paid to agents (783,117) (681,345)
Incentive compensation paid to agents (85,401) (80,633)
Salaries and wages paid (139,121) (131,226)
Pension contribution and employee benefits paid (78,227) (70,588)
General operating expenses paid (154,610) (161,102)
Administrative services expenses paid (414,543) (385,036)
Income taxes paid (73,431) (79,881)
Net cash provided by operating activities 295,694 218,620
Purchase of investments:    
Available-for-sale securities (208,686) (236,000)
Equity securities (14,517) (13,142)
Other investments 0 (7,000)
Proceeds from investments:    
Available-for-sale securities sales 63,703 105,172
Available-for-sale securities maturities/calls 67,415 100,655
Equity securities 16,769 19,929
Purchase of fixed assets (49,931) (50,488)
Loans to agents and others (18,166) (4,340)
Collections on agent and other loans 6,841 5,582
Net cash used in investing activities (136,572) (79,632)
Cash flows from financing activities    
Dividends paid to shareholders (127,138) (118,754)
Net changes in cash collateral for securities lent 27,646 6,345
Net cash used in financing activities (99,492) (112,409)
Net increase in cash, cash equivalents and restricted cash 59,630 26,579
Cash, cash equivalents and restricted cash, beginning of period 298,397 144,055
Cash, cash equivalents and restricted cash, end of period 358,027 170,634
Supplemental disclosure of noncash transactions    
Liability incurred to purchase fixed assets 844 11,163
Operating lease assets obtained in exchange for lease liabilities 2,523 4,663
Receipt of donated equipment $ 1,967 $ 0