2020

2019

2018

Income:

Dividends from subsidiaries

$

130,950

$

127,750

$

105,000

Interest income on notes receivable

357

922

—

Interest income on other investments

(1,126)

(514)

8,208

Other

5

18

1,988

Total income

130,186

128,176

115,196

Expenses:

Interest expense (Debentures)

3,832

6,435

6,989

Provision for credit loss

27

—

Other

1,988

2,749

2,930

Total expenses

5,847

9,184

9,919

Income before federal income taxes and equity in undistributed net income of subsidiaries

124,339

118,992

105,277

Income tax expense

(1,339)

(1,878)

481

Income before equity in undistributed net income of subsidiaries

125,678

120,870

104,796

Equity in undistributed net income of subsidiaries

41,641

84,234

111,135

Net income

$

167,319

$

205,104

$

215,931