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Consolidated Balance Sheets (unaudited) - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Investments:    
Fixed maturity securities available for sale, at fair value (amortized cost - $8,230,871 in 2016 and $9,470,795 in 2015) $ 9,039,747 $ 10,215,328
Equity securities available for sale, at fair value (cost - $361,537 in 2016 and $450,563 in 2015) 403,702 500,057
Commercial mortgage loans on real estate, at amortized cost 872,196 1,151,256
Policy loans 41,124 43,858
Short-term investments 449,691 508,950
Other investments 618,651 575,323
Total investments 11,425,111 12,994,772
Cash and cash equivalents 2,060,815 1,288,305
Premiums and accounts receivable, net 1,331,527 1,260,717
Reinsurance recoverables 8,689,823 7,470,403
Accrued investment income 114,572 129,743
Deferred acquisition costs 3,079,611 3,150,934
Property and equipment, at cost less accumulated depreciation 312,324 298,414
Tax receivable 0 24,176
Goodwill 839,766 833,512
Value of business acquired 38,950 41,154
Other intangible assets, net 274,131 277,163
Other assets 401,111 469,005
Assets held in separate accounts 1,719,454 1,798,104
Total assets 30,287,195 30,036,402
Liabilities    
Future policy benefits and expenses 9,723,211 9,466,694
Unearned premiums 6,308,939 6,423,720
Claims and benefits payable 3,341,718 3,896,719
Commissions payable 354,965 393,260
Reinsurance balances payable 110,056 132,728
Funds held under reinsurance 101,400 94,417
Deferred gain on disposal of businesses 564,122 92,327
Accounts payable and other liabilities 1,825,894 2,049,810
Tax payable 258,087 0
Debt 1,414,704 1,164,656
Liabilities related to separate accounts 1,719,454 1,798,104
Total liabilities $ 25,722,550 $ 25,512,435
Commitments and contingencies (Note 16)
Stockholders’ equity    
Common stock, par value $0.01 per share, 800,000,000 shares authorized, 62,643,447 and 65,850,386 shares outstanding at March 31, 2016 and December 31, 2015, respectively $ 1,500 $ 1,497
Additional paid-in capital 3,152,977 3,148,409
Retained earnings 5,044,544 4,856,674
Accumulated other comprehensive income 225,240 118,549
Treasury stock, at cost; 86,945,291 and 83,523,031 shares at March 31, 2016 and December 31, 2015, respectively (3,859,616) (3,601,162)
Total stockholders’ equity 4,564,645 4,523,967
Total liabilities and stockholders’ equity $ 30,287,195 $ 30,036,402