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v3.23.3

Fair Value Measurements (Table Text Block) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2023 | Mar. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract] |  |
Financial Instruments, Carrying and Estimated fair values |
|  | Fair Value Hierarchy
|  | Carrying |  |  |  |  |  |  |  | Total Estimated
As of September 30, 2023 |  | Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Fair Value
|  | (Unaudited)
Assets |  | (In thousands)
Reinsurance recoverables and trade receivables, net | $ | 212,565 | $ | – | $ | – | $ | 212,565 | $ | 212,565
Mortgage loans, net |  | 550,913 |  | – |  | – |  | 521,831 |  | 521,831
Other investments |  | 88,712 |  | – |  | – |  | 88,712 |  | 88,712
Total | $ | 852,190 | $ | – | $ | – | $ | 823,108 | $ | 823,108
Liabilities |  |  |  |  |  |  |  |  |  |
Notes, loans and finance leases payable | $ | 6,436,800 | $ | – | $ | 5,961,511 | $ | – | $ | 5,961,511
Total | $ | 6,436,800 | $ | – | $ | 5,961,511 | $ | – | $ | 5,961,511
|  | Fair Value Hierarchy
|  | Carrying |  |  |  |  |  |  |  | Total Estimated
As of March 31, 2023 |  | Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Fair Value
|  | (In thousands)
Assets |  |  |  |  |  |  |  |  |  |
Reinsurance recoverables and trade receivables, net | $ | 189,498 | $ | – | $ | – | $ | 189,498 | $ | 189,498
Mortgage loans, net |  | 466,531 |  | – |  | – |  | 444,957 |  | 444,957
Other investments |  | 109,009 |  | – |  | – |  | 109,009 |  | 109,009
Total | $ | 765,038 | $ | – | $ | – | $ | 743,464 | $ | 743,464
Liabilities |  |  |  |  |  |  |  |  |  |
Notes, loans and finance leases payable |  | 6,143,350 |  | – |  | 5,710,735 |  | – |  | 5,710,735
Total | $ | 6,143,350 | $ | – | $ | 5,710,735 | $ | – | $ | 5,710,735
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis |
As of September 30, 2023 |  | Total |  | Level 1 |  | Level 2 |  | Level 3
|  | (Unaudited)
Assets |  | (In thousands)
Short-term investments | $ | 1,808,130 | $ | 1,807,142 | $ | 988 | $ | –
Fixed maturities - available for sale |  | 2,472,128 |  | 168,287 |  | 2,303,782 |  | 59
Preferred stock |  | 19,991 |  | 19,991 |  | – |  | –
Common stock |  | 42,045 |  | 42,045 |  | – |  | –
Derivatives |  | 22,854 |  | 10,526 |  | 12,328 |  | –
Total | $ | 4,365,148 | $ | 2,047,991 | $ | 2,317,098 | $ | 59
Liabilities |  |  |  |  |  |  |  |
Embedded derivatives | $ | 9,630 | $ | – | $ | – | $ | 9,630
Total | $ | 9,630 | $ | – | $ | – | $ | 9,630
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation |  |
As of March 31, 2023 |  | Total |  | Level 1 |  | Level 2 |  | Level 3
|  | (In thousands)
Assets |  |  |  |  |  |  |  |
Short-term investments | $ | 1,809,441 | $ | 1,808,797 | $ | 644 | $ | –
Fixed maturities - available for sale |  | 2,709,037 |  | 251,832 |  | 2,457,146 |  | 59
Preferred stock |  | 21,982 |  | 21,982 |  | – |  | –
Common stock |  | 39,375 |  | 39,375 |  | – |  | –
Derivatives |  | 9,606 |  | 4,295 |  | 5,311 |  | –
Total | $ | 4,589,441 | $ | 2,126,281 | $ | 2,463,101 | $ | 59

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2C -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 + Details
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