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v3.25.1

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions | 3 Months Ended
--- | ---
Mar. 31, 2025 | Mar. 31, 2024
Cash flows from operating activities: |  |
Insurance policy income | $ 589.8 | $ 582.1
Net investment income | 360.3 | 334.4
Fee revenue and other income | 62.1 | 53.6
Insurance policy benefits | (407.6) | (408.0)
Interest expense | (34.1) | (50.4)
Deferrable policy acquisition costs | (114.1) | (103.2)
Other operating costs | (322.2) | (303.8)
Income taxes | 2.5 | (10.1)
Net cash provided by operating activities | 136.7 | 94.6
Cash flows from investing activities: |  |
Sales of investments | 462.9 | 671.0
Maturities and redemptions of investments | 642.0 | 368.3
Purchases of investments | (1,639.7) | (1,064.7)
Net sales (purchases) of trading securities | 0.0 | 4.3
Other | (3.4) | (2.5)
Net cash used by investing activities | (538.2) | (23.6)
Cash flows from financing activities: |  |
Issuance of common stock | 6.5 | 2.8
Payments to repurchase common stock | (110.3) | (58.8)
Common stock dividends paid | (16.9) | (17.3)
Payments on financing arrangements | (3.7) | (3.5)
Amounts received for deposit products | 574.2 | 523.9
Withdrawals from deposit products | (899.6) | (505.5)
Issuance of investment borrowings: |  |
Federal Home Loan Bank | 234.5 | 222.0
Payments on investment borrowings: |  |
Federal Home Loan Bank | (234.6) | (222.1)
Related to variable interest entities | (121.5) | (251.7)
Net cash provided (used) by financing activities | (571.4) | (310.2)
Net increase (decrease) in cash and cash equivalents | (972.9) | (239.2)
Cash and cash equivalents - unrestricted and including held by variable interest entities, beginning of period | 1,997.7 | 889.0
Cash and cash equivalents - unrestricted and including held by variable interest entities, end of period | $ 1,024.8 | $ 649.8

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