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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2020
Cash flow from operating activities:      
Net earnings $ 1,123,286 $ 610,856 $ 442,048
Adjustments to reconcile net earnings to cash provided by operations:      
Depreciation 696,955 664,001 664,120
Amortization of deferred policy acquisition costs 33,854 28,293 31,219
Amortization of premiums and accretion of discounts related to investments, inc 19,749 14,229 13,317
Amortization of debt issuance costs 5,659 5,948 4,426
Interest credited to policyholders 64,692 55,321 51,857
Change in allowance for losses on trade receivables 4,227 1,206 (14)
Change in allowance for inventory reserves 15,235 1,298 640
Net gains on disposal of personal property (214,203) (54,071) (27,057)
Net gains on disposal of real estate (4,120) 3,281 (758)
Net gains on sales of investments (11,872) (10,058) (13,596)
Net (gains) losses on equity investments (7,837) (394) (3,783)
Deferred income taxes 101,091 68,411 317,893
Net change in other operating assets and liabilities:      
Reinsurance recoverables and trade receivables (9,187) (39,516) 38,129
Inventories and parts (68,536) (5,775) 1,776
Prepaid expenses 232,342 94,359 (391,120)
Capitalization of deferred policy acquisition costs (32,626) (36,162) (24,447)
Other assets (2,706) 29,865 (1,295)
Related party assets (10,357) (487) (5,645)
Accounts payable and accrued expenses 28,752 92,925 (4,530)
Policy benefits and losses, claims and loss expenses payable (19,692) (1,992) (12,618)
Other policyholders' funds and liabilities (1,608) 2,230 (4,857)
Deferred income 5,216 11,567 (1,818)
Related party liabilities (2,079) 60 1,626
Net cash provided by operating activities 1,946,235 1,535,395 1,075,513
Cash flow from investing activities:      
Escrow deposits (9,328) (5,221) 6,617
Purchase of:      
Property, plant and equipment (2,136,537) (1,441,475) (2,309,406)
Short term investments (74,418) (69,929) (61,226)
Fixed maturities investments (627,326) (606,233) (379,349)
Equity securities (19,299) (962) (83)
Preferred stock (8,000) (16,144) 0
Real estate (261) (622) (4,286)
Mortgage loans (158,147) (158,071) (62,016)
Proceeds from sale and paydowns of:      
Property, plant and equipment 623,235 537,484 687,375
Short term investments 51,591 69,718 59,056
Fixed maturities investments 360,937 529,239 268,636
Equity securities 2,046 207 185
Preferred stock 2,000 2,700 2,375
Real estate 113 255 311
Mortgage loans 126,218 29,525 25,162
Net cash used by investing activities (1,867,176) (1,129,529) (1,766,649)
Cash flow from financing activities:      
Borrowings from credit facilities 1,969,474 922,008 1,121,412
Principal repayments on credit facilities (437,506) (662,588) (349,986)
Debt issuance costs (13,156) (5,793) (5,332)
Capital lease payments (166,262) (221,247) (307,782)
Employee stock ownership plan value 0 0 (206)
Common stock dividends paid (29,412) (49,019) (29,404)
Investment contract deposits 347,520 517,856 234,640
Investment contract withdrawals (237,503) (213,864) (151,022)
Net cash provided by financing activities 1,433,155 287,353 512,320
Effects of exchange rate on cash (2,089) 6,441 (533)
Increase (decrease) cash and cash equivalents 1,510,125 699,660 (179,349)
Cash and cash equivalents at the beginning of period 1,194,012 494,352 673,701
Cash and cash equivalents at the end of the period $ 2,704,137 $ 1,194,012 $ 494,352