2022

2021

2020

Income:

Dividends from subsidiaries

$

222,175

$

80,882

$

130,950

Interest income on notes receivable

2,394

1,139

357

Interest income (loss) on other investments

8,662

9,662

(1,126)

Other

857

58

5

Total income

234,088

91,741

130,186

Expenses:

Interest expense (Debentures)

5,037

2,792

3,832

Provision for credit loss

437

—

27

Other

2,291

2,272

1,988

Total expenses

7,765

5,064

5,847

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

226,323

86,677

124,339

Income tax expense (benefit)

504

1,358

(1,339)

Income before equity in undistributed net income of subsidiaries

225,819

85,319

125,678

Equity in undistributed net income of subsidiaries

74,413

168,603

41,641

Net income

$

300,232

$

253,922

$

167,319