Supplementary Data on Cash Flows |
Supplementary Data on Cash FlowsA reconciliation of net income to net cash provided by operating activities as presented in the Statements of Cash Flows is as follows for the years ended December 31: | | | | | | | | | | | | | | | | | | | | | (in thousands) | | 2021 | | 2020 | | 2019 | | | | | | | | Cash flows from operating activities: | | | | | | | Net income | | $ | 297,860 | | | $ | 293,304 | | | $ | 316,821 | | Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | Depreciation and amortization | | 37,210 | | | 21,195 | | | 16,813 | | Deferred income tax (benefit) expense | | (1,854) | | | (5,162) | | | 3,349 | | | | | | | | | Lease amortization expense | | 11,887 | | | 13,108 | | | 13,959 | | Realized (gains) and impairment (recoveries) losses on investments | | (2,307) | | | (3,114) | | | (5,908) | | | | | | | | | (Gain) loss on disposal of fixed assets | | (13) | | | (15) | | | 75 | | Net investment (income) loss | | (25,944) | | | 5,878 | | | 543 | | (Decrease) increase in deferred compensation | | (5,006) | | | 7,611 | | | (1,541) | | | | | | | | | Decrease (increase) in receivables from affiliates | | 15,514 | | | (26,548) | | | (19,505) | | Increase in accrued investment income | | (157) | | | (713) | | | (170) | | | | | | | | | Decrease in prepaid pension | | 52,755 | | | 41,227 | | | 28,798 | | Decrease (increase) in prepaid expenses and other assets | | 12,161 | | | (4,771) | | | (1,707) | | Decrease in accounts payable and accrued expenses | | (4,823) | | | (14,307) | | | (3,627) | | Increase (decrease) in commissions payable | | 8,408 | | | (625) | | | 21,390 | | Increase (decrease) in accrued agent bonuses | | 10,279 | | | 14,105 | | | (7,409) | | (Decrease) increase in contract liability | | (3,176) | | | 1,422 | | | 2,646 | | Net cash provided by operating activities | | $ | 402,794 | | | $ | 342,595 | | | $ | 364,527 | |
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