2021

2020

2019

Income:

Dividends from subsidiaries

$

80,882

$

130,950

$

127,750

Interest income on notes receivable

1,139

357

922

Interest income (loss) on other investments

9,662

(1,126)

(514)

Other

58

5

18

Total income

91,741

130,186

128,176

Expenses:

Interest expense (Debentures)

2,792

3,832

6,435

Provision for credit loss

—

27

—

Other

2,272

1,988

2,749

Total expenses

5,064

5,847

9,184

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

86,677

124,339

118,992

Income tax expense (benefit)

1,358

(1,339)

(1,878)

Income before equity in undistributed net income of subsidiaries

85,319

125,678

120,870

Equity in undistributed net income of subsidiaries

168,603

41,641

84,234

Net income

$

253,922

$

167,319

$

205,104