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v3.23.3

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions | 9 Months Ended
--- | ---
Sep. 30, 2023 | Sep. 30, 2022
Cash flows from operating activities: |  |
Insurance policy income | $ 1,713.4 | $ 1,724.9
Net investment income | 979.5 | 832.2
Fee revenue and other income | 167.0 | 110.4
Insurance policy benefits | (1,215.2) | (1,243.4)
Interest expense | (155.3) | (65.8)
Deferrable policy acquisition costs | (277.6) | (248.5)
Other operating costs | (759.7) | (754.6)
Income taxes | (45.9) | (20.7)
Net cash from operating activities | 406.2 | 334.5
Cash flows from investing activities: |  |
Sales of investments | 992.5 | 2,764.9
Maturities and redemptions of investments | 1,026.8 | 1,265.1
Purchases of investments | (2,897.1) | (5,521.1)
Net purchases of trading securities | (37.2) | (37.4)
Other | (30.3) | (39.4)
Net cash used by investing activities | (945.3) | (1,567.9)
Cash flows from financing activities: |  |
Issuance of common stock | 11.1 | 6.6
Payments to repurchase common stock | (95.8) | (180.2)
Common stock dividends paid | (51.4) | (48.7)
Proceeds from financing arrangements | 78.2 | 0.0
Amounts received for deposit products | 1,537.6 | 2,457.8
Withdrawals from deposit products | (1,265.8) | (1,071.0)
Issuance of investment borrowings: |  |
Federal Home Loan Bank | 895.5 | 210.0
Payments on investment borrowings: |  |
Federal Home Loan Bank | (445.6) | (285.9)
Related to variable interest entities | (186.8) | (33.4)
Net cash provided by financing activities | 477.0 | 1,055.2
Net decrease in cash and cash equivalents | (62.1) | (178.2)
Cash and cash equivalents - unrestricted and held by variable interest entities, beginning of period | 644.9 | 731.7
Cash and cash equivalents - unrestricted and held by variable interest entities, end of period | $ 582.8 | $ 553.5

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