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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Investments:    
Fixed maturity securities available for sale, at fair value (amortized cost – $8,870,837 in 2016 and $9,470,795 in 2015) $ 9,572,145 $ 10,215,328
Equity securities available for sale, at fair value (cost – $381,831 in 2016 and $450,563 in 2015) 421,361 500,057
Commercial mortgage loans on real estate, at amortized cost 624,033 1,151,256
Policy loans 38,533 43,858
Short-term investments 227,740 508,950
Other investments 595,264 575,323
Total investments 11,479,076 12,994,772
Cash and cash equivalents 1,031,971 1,288,305
Premiums and accounts receivable, net 1,217,969 1,260,717
Reinsurance recoverables 9,083,207 7,470,403
Accrued investment income 110,075 129,743
Deferred acquisition costs 3,267,394 3,150,934
Property and equipment, at cost less accumulated depreciation 343,572 298,414
Tax receivable 20,462 24,176
Goodwill [1] 830,956 833,512
Value of business acquired 32,165 41,154
Other intangible assets, net 240,310 277,163
Other assets 359,684 469,005
Assets held in separate accounts 1,692,287 1,798,104
Total assets 29,709,128 30,036,402
Liabilities    
Future policy benefits and expenses 10,112,878 9,466,694
Unearned premiums 6,626,525 6,423,720
Claims and benefits payable 3,301,257 3,896,719
Commissions payable 386,243 393,260
Reinsurance balances payable 95,292 132,728
Funds held under reinsurance 111,721 94,417
Deferred gain on disposal of businesses 232,135 92,327
Accounts payable and other liabilities 1,985,670 2,049,810
Debt 1,067,020 1,164,656
Liabilities related to separate accounts 1,692,287 1,798,104
Total liabilities 25,611,028 25,512,435
Commitments and contingencies
Stockholders’ equity    
Common stock, par value $0.01 per share, 800,000,000 shares authorized, 55,941,480 and 65,850,386 shares outstanding at December 31, 2016 and December 31, 2015, respectively 1,504 1,497
Additional paid-in capital 3,175,867 3,148,409
Retained earnings 5,296,678 4,856,674
Accumulated other comprehensive income 94,602 118,549
Treasury stock, at cost; 94,041,583 and 83,523,031 shares at December 31, 2016 and December 31, 2015, respectively (4,470,551) (3,601,162)
Total stockholders’ equity 4,098,100 4,523,967
Total liabilities and stockholders’ equity $ 29,709,128 $ 30,036,402
[1] Includes $1,260,939 of accumulated impairment losses.