v3.26.1
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 9 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Operating activities              
Net income $ 298.6     $ 235.3 $ 572.7 $ 381.9  
Noncash revenues, expenses, gains and losses included in net income from operations:              
Deferred tax expense         90.7 26.6  
Depreciation and amortization         134.1 115.7  
Net realized losses on investments, including impairment losses         31.4 37.7  
Loss on sale of business   $ 0.5 $ 10.7   0.5 0.0 $ 11.2
Stock based compensation expense         43.4 37.5  
Restructuring costs         0.0 (1.4)  
Changes in operating assets and liabilities:              
Insurance policy reserves and expenses         183.9 (394.3)  
Premiums and accounts receivable         (2.9) 163.8  
Commissions payable         (20.9) 26.4  
Reinsurance recoverable         121.1 236.1  
Funds withheld under reinsurance         16.7 (11.3)  
Deferred acquisition costs and value of business acquired         (172.3) (94.2)  
Taxes receivable         (83.5) (110.1)  
Other assets and other liabilities         (199.1) 224.4  
Other         (21.1) 19.1  
Net cash provided by operating activities         694.7 657.9  
Sales of:              
Fixed maturity securities available for sale         966.6 650.2  
Equity securities         30.3 24.9  
Other invested assets         40.8 21.1  
Subsidiary, net of cash transferred         1.4 0.0  
Maturities, calls, prepayments, and scheduled redemption of:              
Fixed maturity securities available for sale         401.6 424.2  
Commercial mortgage loans on real estate         41.1 39.1  
Purchases of:              
Fixed maturity securities available for sale         (1,814.5) (1,702.9)  
Equity securities         (19.5) (16.4)  
Commercial mortgage loans on real estate         (21.6) (26.6)  
Other invested assets         (71.3) (52.8)  
Property and equipment and other         (92.9) (113.3)  
Subsidiaries, net of cash transferred         (15.3) 0.0  
Change in short-term investments         46.7 (32.2)  
Other         0.2 0.2  
Net cash used in investing activities         (506.4) (784.5)  
Financing activities              
Acquisition of common stock         (201.8) (127.6)  
Common stock dividends paid         (91.9) (83.6)  
Employee stock purchases and withholdings         (32.2) (11.8)  
Net cash used in financing activities         (325.9) (223.0)  
Effect of exchange rate changes on cash and cash equivalents         2.2 28.6  
Change in cash and cash equivalents         (135.4) (321.0)  
Cash and cash equivalents at beginning of period   $ 1,834.1     1,834.1 1,807.7  
Cash and cash equivalents at end of period $ 1,698.7   $ 1,834.1 $ 1,486.7 $ 1,698.7 $ 1,486.7 $ 1,698.7