v3.26.3
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Operating activities              
Net income $ 275.2     $ 265.6 $ 847.9 $ 647.5  
Noncash revenues, expenses, gains and losses included in net income from operations:              
Deferred tax expense         136.9 61.2  
Depreciation and amortization         201.8 178.0  
Net realized losses on investments, including impairment losses         56.7 51.3  
Loss on extinguishment of debt 0.0     1.3 0.0 1.3  
Loss on sale of business   $ 0.5 $ 10.7   0.5 0.0 $ 11.2
Stock based compensation expense         75.9 60.7  
Restructuring costs         0.0 (1.4)  
Changes in operating assets and liabilities:              
Insurance policy reserves and expenses         585.5 (442.9)  
Premiums and accounts receivable         (57.3) 192.4  
Commissions payable         15.4 26.1  
Reinsurance recoverable         143.3 508.8  
Funds withheld under reinsurance         15.1 0.7  
Deferred acquisition costs and value of business acquired         (375.2) (78.2)  
Taxes receivable         (26.3) (60.2)  
Other assets and other liabilities         (224.5) (28.5)  
Other         (15.1) 46.1  
Net cash provided by operating activities         1,380.6 1,162.9  
Sales of:              
Fixed maturity securities available for sale         1,474.4 892.2  
Equity securities         45.1 32.9  
Other invested assets         58.4 31.9  
Subsidiary, net of cash transferred         1.4 0.0  
Maturities, calls, prepayments, and scheduled redemption of:              
Fixed maturity securities available for sale         620.0 630.6  
Commercial mortgage loans on real estate         63.0 53.6  
Purchases of:              
Fixed maturity securities available for sale         (2,976.2) (2,294.4)  
Equity securities         (34.9) (26.7)  
Commercial mortgage loans on real estate         (46.1) (41.6)  
Other invested assets         (109.3) (78.3)  
Property and equipment and other         (158.5) (176.2)  
Subsidiaries, net of cash transferred         (15.3) (22.4)  
Change in short-term investments         84.5 (61.4)  
Other         0.4 5.8  
Net cash used in investing activities         (993.1) (1,054.0)  
Financing activities              
Issuance of debt, net of issuance costs         0.0 298.0  
Repayment of debt         0.0 (176.3)  
Acquisition of common stock         (277.5) (209.4)  
Common stock dividends paid         (135.5) (124.2)  
Employee stock purchases and withholdings         (36.5) (16.1)  
Net cash used in financing activities         (449.5) (228.0)  
Effect of exchange rate changes on cash and cash equivalents         5.7 23.9  
Change in cash and cash equivalents         (56.3) (95.2)  
Cash and cash equivalents at beginning of period   $ 1,834.1 1,712.5   1,834.1 1,807.7 1,712.5
Cash and cash equivalents at end of period $ 1,777.8   $ 1,834.1 $ 1,712.5 $ 1,777.8 $ 1,712.5 $ 1,777.8