2023

2022

2021

Income:

Dividends from subsidiaries

$

179,000

$

222,175

$

80,882

Interest income on notes receivable

5,769

2,394

1,139

(Loss) income on other investments

(6,150)

8,662

9,662

Other

4

857

58

Total income

178,623

234,088

91,741

Expenses:

Interest expense (Debentures)

8,122

5,037

2,792

Provision for credit loss

500

437

—

Other

252

2,291

2,272

Total expenses

8,874

7,765

5,064

Income before federal income taxes and equity in undistributed net income of subsidiaries

169,749

226,323

86,677

Income tax (benefit) expense

(1,365)

504

1,358

Income before equity in undistributed net income of subsidiaries

171,114

225,819

85,319

Equity in undistributed net income of subsidiaries

240,654

74,413

168,603

Net income

$

411,768

$

300,232

$

253,922