v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
 [1]
Jun. 30, 2025
Cash flows from operating activities    
Net cash provided by (used in) operating activities, continuing operations $ 294,395 $ 324,952
Net cash provided by (used in) operating activities, discontinued operations 333,562 (970,483)
Net cash provided by (used in) operating activities 627,957 (645,531)
Proceeds from sales of:    
Available for sale securities 708,915 230,492
Trading securities 9,298 0
Equity securities 23,566 17,908
Proceeds from redemptions of:    
Available for sale securities 480,934 411,959
Trading securities 11,333 10,403
Purchases of:    
Available for sale securities (1,462,840) (526,503)
Equity securities (27,858) (10,184)
Sales, redemptions and (purchases) of:    
Short-term investments, net 1,657,625 (24,281)
Other assets and other invested assets, net 2,198 (324)
Acquisition, net of cash acquired (1,567,435) 0
Additions to property and equipment (974) (2,290)
Net cash provided by (used in) investing activities, continuing operations (165,238) 107,180
Net cash provided by (used in) investing activities, discontinued operations 34,587 124,131
Net cash provided by (used in) investing activities (130,651) 231,311
Cash flows from financing activities    
Dividends and dividend equivalents paid (72,631) (75,915)
Issuance of common stock 366 779
Repurchases of common stock, including excise taxes paid (130,345) (431,909)
Proceeds (repayments) of FHLB advances, net (with terms three months or less) 30,300 69,670
Proceeds from FHLB advances (with terms greater than three months) 34,760 3,935
Repayments of FHLB advances (with terms greater than three months) (18,515) (20,784)
Proceeds from credit facility borrowings 200,000 50,000
Repayments of credit facility borrowings (125,000) (50,000)
Credit facility commitment fees paid (315) (268)
Proceeds (repayments) related to cash collateral for loaned securities and securities sold under repurchase agreements, net 17,570 38,806
Net cash provided by (used in) financing activities, continuing operations (63,810) (415,686)
Net cash provided by (used in) financing activities, discontinued operations (324,226) 810,629
Net cash provided by (used in) financing activities (388,036) 394,943
Effect of exchange rate changes on cash and restricted cash 1,807 0
Increase (decrease) in cash and restricted cash 111,077 (19,277)
Cash and restricted cash, beginning of period [2] 45,522 41,472
Cash and restricted cash, end of period [2] 156,599 22,195
Supplemental noncash information    
Transfer from residential mortgage loans held for sale to securitized residential mortgage loans held for investment, discontinued operations 0 767,948
Retention (disposal) of mortgage servicing and other related rights from residential mortgage loan sales, discontinued operations, net $ (6,573) $ 3,219
[1] Includes Inigo results for the five-month period from the Closing Date of the acquisition through June 30, 2026.
[2] For the six months ended June 30, 2026, includes $21 million and $2 million as of the beginning and end of the period, respectively, of cash and restricted cash related to discontinued operations that are included in assets held for sale on our condensed consolidated balance sheets. For the six months ended June 30, 2025, includes $22 million and $3 million as of the beginning and end of the period, respectively, of cash and restricted cash related to discontinued operations that are included in assets held for sale on our condensed consolidated balance sheets. See Note 18 for additional details.