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v3.25.2

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions | 6 Months Ended
--- | ---
Jun. 30, 2025 | Jun. 30, 2024
Cash flows from operating activities: |  |
Insurance policy income | $ 1,182.4 | $ 1,164.4
Net investment income | 748.2 | 679.0
Fee revenue and other income | 98.5 | 89.0
Insurance policy benefits | (822.9) | (821.0)
Interest expense | (114.4) | (122.2)
Deferrable policy acquisition costs | (244.8) | (214.4)
Other operating costs | (564.5) | (523.8)
Income taxes | (0.3) | (45.5)
Net cash provided by operating activities | 282.2 | 205.5
Cash flows from investing activities: |  |
Sales of investments | 1,716.9 | 1,339.2
Maturities and redemptions of investments | 1,263.1 | 967.0
Purchases of investments | (3,631.2) | (3,476.0)
Net sales of trading securities | 0.0 | 6.0
Other | (9.2) | (5.7)
Net cash used by investing activities | (660.4) | (1,169.5)
Cash flows from financing activities: |  |
Issuance of notes payable, net | 0.0 | 691.0
Payments on notes payable | (500.0) | 0.0
Issuance of common stock | 7.1 | 3.8
Payments to repurchase common stock | (210.6) | (118.6)
Common stock dividends paid | (33.6) | (34.5)
Payments on financing arrangements | (7.6) | (7.1)
Amounts received for deposit products | 1,234.1 | 1,856.1
Withdrawals from deposit products | (1,402.1) | (1,007.5)
Issuance of investment borrowings: |  |
Federal Home Loan Bank | 526.8 | 237.0
Payments on investment borrowings: |  |
Federal Home Loan Bank | (273.8) | (237.2)
Related to variable interest entities | (143.8) | (315.9)
Net cash provided (used) by financing activities | (803.5) | 1,067.1
Net increase (decrease) in cash and cash equivalents | (1,181.7) | 103.1
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 | $ 816.0 | $ 992.1

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