XML 65 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flow from operating activities:    
Net earnings $ 189,989 $ 179,234
Adjustments to reconcile net earnings to cash provided by operations:    
Depreciation 128,127 110,049
Amortization of deferred policy acquisition costs 5,899 7,050
Change in allowance for losses on trade receivables (3) (16)
Change in allowance for inventory reserves 1,705 2,008
Net of gains on sale of real and personal property (13,048) (17,627)
Net (gain) loss on sale of investments 238 (4,880)
Deferred income taxes 24,926 89,129
Net change in other operating assets and liabilities:    
Reinsurance recoverables and trade receivables 33,416 (21,953)
Inventories (1,629) 177
Prepaid expenses 422 8,702
Capitalization of deferred policy acquisition costs (24,489) (9,010)
Other assets 19,770 21,973
Related party assets 140,587 5,644
Accounts payable and accrued expenses 45,412 11,327
Policy benefits and losses, claims and loss expenses payable (17,413) 35,857
Other policyholders' funds and liabilities 4,130 (3,142)
Deferred income (671) 4,558
Related party liabilities 2,095 268
Net cash provided by operating activities 539,463 419,348
Purchase of:    
Property, plant and equipment (280,986) (348,331)
Short term investments (150,987) (139,207)
Equity securities (26) (9,056)
Real estate (792) (5,146)
Mortgage loans (50,828) (65,612)
Proceeds from sale of:    
Property, plant and equipment 132,597 110,289
Short term investments 154,549 154,060
Equity securities 0 10,210
Real estate 590 109
Mortgage loans 12,700 29,722
Net cash used by investing activities (310,285) (302,704)
Cash flow from financing activities:    
Borrowings from credit facilities 88,847 178,292
Principal repayments on credit facilities (171,496) (99,102)
Debt issuance costs (1,010) (1,316)
Capital lease payments (9,883) (3,505)
Leveraged Employee Stock Ownership Plan - repayments from loan 316 556
Securitization deposits (1,729) 38,428
Preferred stock redemption paid 0 (144,289)
Preferred stock dividends paid 0 (2,913)
Contribution to related party 0 (518)
Investment contract deposits 169,933 6,228
Investment contract withdrawals (15,275) (15,419)
Net cash used by financing activities 59,703 (43,558)
Effects of exchange rate on cash (240) (389)
Increase (decrease) in cash and cash equivalents 288,641 72,697
Cash and cash equivalents at the end of period 357,180 382,514
Cash and cash equivalents at the end of the period 645,821 455,211
Fixed maturities investments
   
Purchase of:    
Payments to acquire investments (179,941) (136,371)
Proceeds from sale of:    
Proceeds from sale of acquired investments 52,586 97,010
Preferred stock investments
   
Purchase of:    
Payments to acquire investments (1,200) (1,633)
Proceeds from sale of:    
Proceeds from sale of acquired investments $ 1,453 $ 1,252