XML 21 R9.htm IDEA: XBRL DOCUMENT v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
Cash flow from operating activities:      
Net Income (Loss) $ 367,090 $ 628,707 $ 924,472
Adjustments to reconcile net earnings to cash provided by operations:      
Depreciation 971,933 817,889 733,879
Amortization of premiums and accretion of discounts related to investments, net 14,391 16,849 20,066
Amortization of debt issuance costs 5,703 6,712 7,087
Interest credited to policyholders 84,920 71,433 55,822
Provision for allowance (recoveries) for losses on trade receivables, net 1,101 2,447 4,860
Operating lease right-of-use asset amortization 10,558 23,926 22,432
Net gains on disposal of personal property (13,749) (153,958) (247,084)
Net (gains) losses on disposal of real estate 15,758 7,914 5,596
Net (gains) losses on sales of investments (2,180) (157) (8,300)
Net (gains) losses on equity investments (5,787) (5,741) (9,091)
Deferred income taxes, net 41,907 98,379 131,754
Net change in other operating assets and liabilities:      
Trade receivables and reinsurance recoverables (14,168) (29,011) (44,714)
Inventories and parts, net (12,259) (518) (7,265)
Prepaid expenses (37,038) (4,451) (5,575)
Capitalization of deferred policy acquisition costs (505) (7,239) (2,722)
Other assets and Right of use assets - operating, net (20,144) (9,889) (6,405)
Related party assets (12,657) (9,614) (544)
Accounts payable and accrued expenses and operating lease liabilties 14,400 10,697 34,263
Increase (Decrease) in Other Insurance Liabilities 21,754 39,204 15,182
Other policyholders' funds and liabilities 4,119 9,922 2,580
Deferred income 1,858 2,085 5,137
Related party liabilities 1,810 5,850 760
Net cash provided by operating activities 1,454,429 1,452,756 1,729,610
Cash flow from investing activities:      
Escrow deposits activity 3,978 2,983 9,298
Purchase of:      
Property, plant and equipment (3,452,481) (2,992,898) (2,723,901)
Fixed maturity securities available-for-sale (501,640) (344,166) (623,489)
Equity securities (1,819) (530) (4,932)
Investments other (173,522) (174,967) (213,264)
Proceeds from sale and paydowns of:      
Property, plant and equipment 662,358 739,178 701,331
Fixed maturity securities available-for-sale 439,430 672,121 271,092
Equity securities 11,147 1,417 1,286
Investments, other 121,628 50,489 161,194
Net cash used by investing activities (2,890,921) (2,046,373) (2,421,385)
Cash flow from financing activities:      
Borrowings from credit facilities 1,855,399 1,186,363 1,017,898
Principal repayments on credit facilities (852,395) (919,771) (801,994)
Payment of debt issuance costs (8,531) (4,082) (5,237)
Finance lease payments (73,303) (105,564) (124,188)
Securitization deposits (499) (319) (217)
Common stock dividends paid     (19,608)
Series N Non-Voting Common Stock Dividends (35,294) (31,765) (14,117)
Investment contract deposits 496,603 360,124 341,483
Investment contract withdrawals (487,866) (419,091) (334,659)
Net cash provided by financing activities 895,112 66,533 59,795
Effects of exchange rate on cash (4,336) 1,104 (11,633)
Increase (decrease) cash and cash equivalents (545,716) (525,980) (643,613)
Cash and cash equivalents at the beginning of period 1,534,544 2,060,524 2,704,137
Cash and cash equivalents at the end of period $ 988,828 $ 1,534,544 $ 2,060,524