XML 23 R10.htm IDEA: XBRL DOCUMENT v3.26.1
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Mar. 31, 2026
Operating activities        
Net income $ 274.1   $ 146.6  
Noncash revenues, expenses, gains and losses included in net income from operations:        
Deferred tax expense (benefit) 43.1   (12.9)  
Depreciation and amortization 66.5   56.7  
Net realized losses on investments, including impairment losses 21.2   16.0  
Loss on sale of business 0.5 $ 10.7 0.0 $ 11.2
Stock based compensation expense 17.6   15.1  
Restructuring costs 0.0   (1.1)  
Changes in operating assets and liabilities:        
Insurance policy reserves and expenses 61.5   (465.1)  
Premiums and accounts receivable (16.7)   241.7  
Commissions payable (36.7)   21.0  
Reinsurance recoverable (71.1)   190.4  
Funds withheld under reinsurance 21.2   (2.6)  
Deferred acquisition costs and value of business acquired (4.8)   56.2  
Taxes (receivable) payable (99.6)   31.5  
Other assets and other liabilities (26.5)   98.0  
Other (10.0)   0.9  
Net cash provided by operating activities 240.3   392.4  
Sales of:        
Fixed maturity securities available for sale 344.1   270.5  
Equity securities 15.5   15.4  
Other invested assets 27.1   13.3  
Subsidiary, net of cash transferred 1.4   0.0  
Maturities, calls, prepayments, and scheduled redemption of:        
Fixed maturity securities available for sale 183.0   233.2  
Commercial mortgage loans on real estate 25.1   11.1  
Purchases of:        
Fixed maturity securities available for sale (809.9)   (842.6)  
Equity securities (8.6)   (10.6)  
Commercial mortgage loans on real estate (9.6)   (13.8)  
Other invested assets (39.0)   (26.6)  
Property and equipment and other (47.7)   (53.4)  
Subsidiaries, net of cash transferred (14.1)   0.0  
Change in short-term investments 50.4   (18.2)  
Other 0.0   0.1  
Net cash used in investing activities (282.3)   (421.6)  
Financing activities        
Acquisition of common stock (124.2)   (64.3)  
Common stock dividends paid (44.0)   (40.9)  
Employee stock purchases and withholdings (34.4)   (13.5)  
Net cash used in financing activities (202.6)   (118.7)  
Effect of exchange rate changes on cash and cash equivalents 2.2   9.8  
Change in cash and cash equivalents (242.4)   (138.1)  
Cash and cash equivalents at beginning of period 1,834.1   1,807.7  
Cash and cash equivalents at end of period $ 1,591.7 $ 1,834.1 $ 1,669.6 $ 1,591.7