XML 82 R71.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidating financial information by industry segment (Cash Flow Statements) (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Cash flow from operating activities:        
Net earnings $ 199,244 $ 281,466 $ 885,261 $ 1,036,539
Earnings from consolidated entities     0 0
Adjustments to reconcile net earnings to cash provided by operations:        
Depreciation     544,176 519,181
Amortization of deferred policy acquisition costs 6,979 7,947 21,623 23,520
Amortization of premiums and accretion of discounts related to investments, inc     15,232 14,486
Amortization of debt issuance costs     5,694 4,200
Interest credited to policyholders     39,048 47,181
Change in allowance for losses on trade receivables     (4,617) 1,243
Change in allowance for inventory reserves     6,991 9,799
Net gain on sale of real and personal property     (199,196) (157,980)
Net losses on disposal of real estate 859 977 5,038 (2,930)
Net (gain) loss on sale of investments     8,695 (3,495)
Net losses on equity investments     10,906 (3,695)
Deferred income tax     121,707 130,760
Net change in other operating assets and liabilities:        
Reinsurance recoverables and trade receivables     25,853 (7,371)
Inventories     1,682 (70,796)
Prepaid expenses     7,867 257,591
Capitalization of deferred policy acquisition costs     (20,406) (25,703)
Other assets     2,683 1,178
Related party assets     (26,775) (18,683)
Accounts payable and accrued expenses     62,430 33,258
Policy benefits and losses, claims and loss expenses payable     3,490 6,411
Other policyholders' funds and liabilities     1,767 (2,810)
Deferred income     (2,168) (526)
Related party liabilities     (1,301) (2,207)
Net cash provided by operating activities     1,515,680 1,789,151
Cash flow from investing activities:        
Escrow deposits     159 5,695
Purchase of:        
Property, plant and equipment     (2,076,424) (1,652,984)
Short term investments     (49,801) (31,074)
Fixed maturity investments     (491,431) (448,283)
Equity securities     (4,828) (1,380)
Preferred stock     0 (8,000)
Real estate     (7,854) (190)
Mortgage loans     (148,017) (131,633)
Proceeds from sale of:        
Property, plant and equipment     533,595 483,783
Short term investments     67,062 20,669
Fixed maturity investments     148,290 284,347
Equity securities     1,187 2,026
Preferred stock     0 2,000
Real estate     0  
Mortgage loans     156,292 28,064
Net cash used by investing activities     (1,871,770) (1,446,960)
Cash flow from financing activities:        
Borrowings from credit facilities     975,966 1,202,412
Principal repayments on credit facilities     (695,321) (333,419)
Payment of debt issuance costs     (4,962) (8,006)
Capital lease payments     (95,290) (129,150)
Securitization deposits     137 0
Voting Common Stock dividends paid     (19,608) (29,412)
Series N Non-Voting Common Stock dividends (7,059)   (7,059) 0
Investment contract deposits     258,157 271,657
Investment contract withdrawals     (236,742) (177,777)
Net cash provided by (used in) financing activities     175,278 796,305
Effects of exchange rate on cash     (12,706) (5,046)
Increase (decrease) in cash and cash equivalents     (193,518) 1,133,450
Cash and cash equivalents at beginning of period     2,704,137 1,194,012
Cash and cash equivalents at the end of period 2,510,619 2,327,462 2,510,619 2,327,462
Property and Casualty Insurance [Member]        
Cash flow from financing activities:        
Effects of exchange rate on cash       0
Increase (decrease) in cash and cash equivalents       2,407
Cash and cash equivalents at beginning of period       5,658
Cash and cash equivalents at the end of period   8,065   8,065
Life Insurance [Member]        
Cash flow from financing activities:        
Effects of exchange rate on cash       0
Increase (decrease) in cash and cash equivalents       (112,897)
Cash and cash equivalents at beginning of period       178,079
Cash and cash equivalents at the end of period   65,182   65,182
Operating Segments [Member] | Moving and Storage Consolidations [Member]        
Cash flow from operating activities:        
Net earnings 199,244 281,466 885,261 1,036,539
Earnings from consolidated entities     (26,420) (37,811)
Adjustments to reconcile net earnings to cash provided by operations:        
Depreciation     544,176 519,181
Amortization of deferred policy acquisition costs 0 0 0 0
Amortization of premiums and accretion of discounts related to investments, inc     0 0
Amortization of debt issuance costs     5,694 4,200
Interest credited to policyholders     0 0
Change in allowance for losses on trade receivables     (4,470) 1,413
Change in allowance for inventory reserves     6,991 9,799
Net gain on sale of real and personal property     (199,196) (157,980)
Net losses on disposal of real estate 859 977 5,038 (2,930)
Net (gain) loss on sale of investments     0 0
Net losses on equity investments     0 0
Deferred income tax     125,717 134,541
Net change in other operating assets and liabilities:        
Reinsurance recoverables and trade receivables     23,092 (10,403)
Inventories     1,682 (70,796)
Prepaid expenses     7,867 257,591
Capitalization of deferred policy acquisition costs     0 0
Other assets     3,291 1,213
Related party assets     (29,478) (17,870)
Accounts payable and accrued expenses     61,253 30,634
Policy benefits and losses, claims and loss expenses payable     13,299 1,172
Other policyholders' funds and liabilities     0 0
Deferred income     (4,013) 687
Related party liabilities     (799) (267)
Net cash provided by operating activities     1,418,985 1,698,913
Cash flow from investing activities:        
Escrow deposits     159 5,695
Purchase of:        
Property, plant and equipment     (2,079,490) (1,652,984)
Short term investments     0 0
Fixed maturity investments     (224,999) 0
Equity securities     0 0
Preferred stock     0 0
Real estate     (2,677) (33)
Mortgage loans     0 0
Proceeds from sale of:        
Property, plant and equipment     533,595 483,783
Short term investments     0 0
Fixed maturity investments     0 0
Equity securities     0 0
Preferred stock       0
Real estate     0  
Mortgage loans     0 0
Net cash used by investing activities     (1,773,412) (1,163,539)
Cash flow from financing activities:        
Borrowings from credit facilities     975,966 1,202,412
Principal repayments on credit facilities     (695,321) (322,232)
Payment of debt issuance costs     (4,962) (8,006)
Capital lease payments     (95,290) (129,150)
Securitization deposits     137  
Voting Common Stock dividends paid     (19,608) (29,412)
Series N Non-Voting Common Stock dividends     (7,059)  
Investment contract deposits     0 0
Investment contract withdrawals     0 0
Net cash provided by (used in) financing activities     153,863 713,612
Effects of exchange rate on cash     (12,706) (5,046)
Increase (decrease) in cash and cash equivalents     (213,270) 1,243,940
Cash and cash equivalents at beginning of period     2,643,213 1,010,275
Cash and cash equivalents at the end of period 2,429,943 2,254,215 2,429,943 2,254,215
Operating Segments [Member] | Property and Casualty Insurance [Member]        
Cash flow from operating activities:        
Net earnings 8,679 7,630 19,794 26,945
Earnings from consolidated entities     0 0
Adjustments to reconcile net earnings to cash provided by operations:        
Depreciation     0 0
Amortization of deferred policy acquisition costs 0 0 0 0
Amortization of premiums and accretion of discounts related to investments, inc     1,285 1,326
Amortization of debt issuance costs     0 0
Interest credited to policyholders     0 0
Change in allowance for losses on trade receivables     (147) (174)
Change in allowance for inventory reserves     0 0
Net gain on sale of real and personal property     0 0
Net losses on disposal of real estate 0 0 0 0
Net (gain) loss on sale of investments     (75) (223)
Net losses on equity investments     10,906 (3,695)
Deferred income tax     (1,594) 763
Net change in other operating assets and liabilities:        
Reinsurance recoverables and trade receivables     (752) 1,567
Inventories     0 0
Prepaid expenses     0 0
Capitalization of deferred policy acquisition costs     0 0
Other assets     122 72
Related party assets     2,703 (813)
Accounts payable and accrued expenses     2,096 1,659
Policy benefits and losses, claims and loss expenses payable     (4,120) (1,987)
Other policyholders' funds and liabilities     633 61
Deferred income     0 0
Related party liabilities     (617) (2,414)
Net cash provided by operating activities     30,234 23,087
Cash flow from investing activities:        
Escrow deposits     0 0
Purchase of:        
Property, plant and equipment     0 0
Short term investments     (49,429) (31,074)
Fixed maturity investments     (42,039) (7,749)
Equity securities     (3,177) 0
Preferred stock     0 0
Real estate     (4,920) 0
Mortgage loans     (23,337) (19,132)
Proceeds from sale of:        
Property, plant and equipment     0 0
Short term investments     67,062 20,608
Fixed maturity investments     17,938 13,816
Equity securities     1,181 0
Preferred stock       2,000
Real estate     0  
Mortgage loans     16,192 851
Net cash used by investing activities     (20,529) (20,680)
Cash flow from financing activities:        
Borrowings from credit facilities     0 0
Principal repayments on credit facilities     0 0
Payment of debt issuance costs     0 0
Capital lease payments     0 0
Securitization deposits     0  
Voting Common Stock dividends paid     0 0
Series N Non-Voting Common Stock dividends     0  
Investment contract deposits     0 0
Investment contract withdrawals     0 0
Net cash provided by (used in) financing activities     0 0
Effects of exchange rate on cash     0  
Increase (decrease) in cash and cash equivalents     9,705  
Cash and cash equivalents at beginning of period     10,800  
Cash and cash equivalents at the end of period 20,505   20,505  
Operating Segments [Member] | Life Insurance [Member]        
Cash flow from operating activities:        
Net earnings 4,020 2,773 6,626 10,866
Earnings from consolidated entities     0 0
Adjustments to reconcile net earnings to cash provided by operations:        
Depreciation     0 0
Amortization of deferred policy acquisition costs 6,979 7,947 21,623 23,520
Amortization of premiums and accretion of discounts related to investments, inc     13,947 13,160
Amortization of debt issuance costs     0 0
Interest credited to policyholders     39,048 47,181
Change in allowance for losses on trade receivables     0 4
Change in allowance for inventory reserves     0 0
Net gain on sale of real and personal property     0 0
Net losses on disposal of real estate 0 0 0 0
Net (gain) loss on sale of investments     8,770 (3,272)
Net losses on equity investments     0 0
Deferred income tax     (2,416) (4,544)
Net change in other operating assets and liabilities:        
Reinsurance recoverables and trade receivables     3,513 1,465
Inventories     0 0
Prepaid expenses     0 0
Capitalization of deferred policy acquisition costs     (20,406) (25,703)
Other assets     (730) (107)
Related party assets     0 0
Accounts payable and accrued expenses     (919) 965
Policy benefits and losses, claims and loss expenses payable     (5,689) 7,226
Other policyholders' funds and liabilities     1,134 (2,871)
Deferred income     1,845 (1,213)
Related party liabilities     115 474
Net cash provided by operating activities     66,461 67,151
Cash flow from investing activities:        
Escrow deposits     0 0
Purchase of:        
Property, plant and equipment     0 0
Short term investments     (372) 0
Fixed maturity investments     (224,393) (440,534)
Equity securities     (1,651) (1,380)
Preferred stock     0 (8,000)
Real estate     (257) (157)
Mortgage loans     (124,680) (112,501)
Proceeds from sale of:        
Property, plant and equipment     0 0
Short term investments     0 61
Fixed maturity investments     130,352 270,531
Equity securities     6 2,026
Preferred stock       0
Real estate     3,066  
Mortgage loans     140,100 27,213
Net cash used by investing activities     (77,829) (262,741)
Cash flow from financing activities:        
Borrowings from credit facilities     0 0
Principal repayments on credit facilities     0 (11,187)
Payment of debt issuance costs     0 0
Capital lease payments     0 0
Securitization deposits     0  
Voting Common Stock dividends paid     0 0
Series N Non-Voting Common Stock dividends     0  
Investment contract deposits     258,157 271,657
Investment contract withdrawals     (236,742) (177,777)
Net cash provided by (used in) financing activities     21,415 82,693
Effects of exchange rate on cash     0  
Increase (decrease) in cash and cash equivalents     10,047  
Cash and cash equivalents at beginning of period     50,124  
Cash and cash equivalents at the end of period 60,171   60,171  
Consolidation, Eliminations [Member]        
Cash flow from operating activities:        
Net earnings (12,699) (10,403) (26,420) (37,811)
Earnings from consolidated entities     26,420 37,811
Adjustments to reconcile net earnings to cash provided by operations:        
Depreciation     0 0
Amortization of deferred policy acquisition costs 0 0 0 0
Amortization of premiums and accretion of discounts related to investments, inc     0 0
Amortization of debt issuance costs     0 0
Interest credited to policyholders     0 0
Change in allowance for losses on trade receivables     0 0
Change in allowance for inventory reserves     0 0
Net gain on sale of real and personal property     0 0
Net losses on disposal of real estate 0 0 0 0
Net (gain) loss on sale of investments     0 0
Net losses on equity investments     0 0
Deferred income tax     0 0
Net change in other operating assets and liabilities:        
Reinsurance recoverables and trade receivables     0 0
Inventories     0 0
Prepaid expenses     0 0
Capitalization of deferred policy acquisition costs     0 0
Other assets     0 0
Related party assets     0 0
Accounts payable and accrued expenses     0 0
Policy benefits and losses, claims and loss expenses payable     0 0
Other policyholders' funds and liabilities     0 0
Deferred income     0 0
Related party liabilities     0 0
Net cash provided by operating activities     0 0
Cash flow from investing activities:        
Escrow deposits     0 0
Purchase of:        
Property, plant and equipment     3,066 0
Short term investments     0 0
Fixed maturity investments     0 0
Equity securities     0 0
Preferred stock     0 0
Real estate     0 0
Mortgage loans     0 0
Proceeds from sale of:        
Property, plant and equipment     0 0
Short term investments     0 0
Fixed maturity investments     0 0
Equity securities     0 0
Preferred stock       0
Real estate     (3,066)  
Mortgage loans     0 0
Net cash used by investing activities     0 0
Cash flow from financing activities:        
Borrowings from credit facilities     0 0
Principal repayments on credit facilities     0 0
Payment of debt issuance costs     0 0
Capital lease payments     0 0
Securitization deposits     0  
Voting Common Stock dividends paid     0 0
Series N Non-Voting Common Stock dividends     0  
Investment contract deposits     0 0
Investment contract withdrawals     0 0
Net cash provided by (used in) financing activities     0 0
Effects of exchange rate on cash     0 0
Increase (decrease) in cash and cash equivalents     0 0
Cash and cash equivalents at beginning of period     0 0
Cash and cash equivalents at the end of period $ 0 $ 0 $ 0 $ 0