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Segment and Geographical Information (Tables)
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Summary of Assets and Profit or Loss by Segment

Notable information included in profit or loss by segment was as follows:

 

 

 

Year ended December 31,

 

 

 

2022

 

 

2021

 

 

2020

 

 

(In thousands)

 

Revenues:

 

 

 

 

 

 

 

 

 

Term life insurance segment

 

$

1,687,126

 

 

$

1,575,686

 

 

$

1,382,770

 

Investment and savings products segment

 

 

863,432

 

 

 

941,847

 

 

 

718,867

 

Senior health segment

 

 

62,682

 

 

 

60,440

 

 

N/A

 

Corporate and other distributed products segment

 

 

106,893

 

 

 

131,759

 

 

 

115,904

 

Total revenues

 

$

2,720,133

 

 

$

2,709,732

 

 

$

2,217,541

 

 

 

 

 

 

 

 

 

 

 

Net investment income:

 

 

 

 

 

 

 

 

 

Term life insurance segment

 

$

51,160

 

 

$

36,486

 

 

$

27,030

 

Investment and savings products segment

 

 

-

 

 

 

-

 

 

 

-

 

Senior health segment

 

 

-

 

 

 

-

 

 

N/A

 

Corporate and other distributed products segment

 

 

41,905

 

 

 

44,102

 

 

 

56,784

 

Total net investment income

 

$

93,065

 

 

$

80,588

 

 

$

83,814

 

 

 

 

 

 

 

 

 

 

 

Amortization of DAC:

 

 

 

 

 

 

 

 

 

Term life insurance segment

 

$

342,925

 

 

$

241,451

 

 

$

216,208

 

Investment and savings products segment

 

 

12,141

 

 

 

8,668

 

 

 

7,055

 

Senior health segment

 

 

-

 

 

 

-

 

 

N/A

 

Corporate and other distributed products segment

 

 

1,077

 

 

 

1,060

 

 

 

1,058

 

Total amortization of DAC

 

$

356,143

 

 

$

251,179

 

 

$

224,321

 

 

 

 

 

 

 

 

 

 

 

Non-cash share-based compensation expense:

 

 

 

 

 

 

 

 

 

Term life insurance segment

 

$

4,133

 

 

$

4,153

 

 

$

3,612

 

Investment and savings products segment

 

 

3,212

 

 

 

3,206

 

 

 

3,045

 

Senior health segment

 

 

210

 

 

 

-

 

 

N/A

 

Corporate and other distributed products segment

 

 

14,806

 

 

 

9,483

 

 

 

12,370

 

Total non-cash share-based compensation expense

 

$

22,361

 

 

$

16,842

 

 

$

19,027

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before income taxes:

 

 

 

 

 

 

 

 

 

Term life insurance segment

 

$

448,540

 

 

$

414,619

 

 

$

372,551

 

Investment and savings products segment

 

 

239,330

 

 

 

274,585

 

 

 

202,644

 

Senior health segment

 

 

(98,673

)

 

 

(85,050

)

 

N/A

 

Corporate and other distributed products segment

 

 

(95,448

)

 

 

(92,983

)

 

 

(68,465

)

Total income before income taxes

 

$

493,749

 

 

$

511,171

 

 

$

506,730

 
Total Assets by Segment

Total assets by segment were as follows:

 

 

 

December 31, 2022

 

 

December 31, 2021

 

 

December 31, 2020

 

 

(In thousands)

 

Assets:

 

 

 

 

 

 

 

 

 

Term life insurance segment

 

$

7,175,746

 

 

$

7,274,820

 

 

$

6,985,086

 

Investment and savings products segment (1)

 

 

2,415,041

 

 

 

2,920,271

 

 

 

2,769,445

 

Senior health segment

 

 

431,993

 

 

$

528,974

 

 

N/A

 

Corporate and other distributed products segment

 

 

5,326,097

 

 

 

5,399,158

 

 

 

5,150,754

 

Total assets

 

$

15,348,877

 

 

$

16,123,223

 

 

$

14,905,285

 

 

(1)
The Investment and Savings Products segment includes assets held in separate accounts. Excluding separate accounts, the Investment and Savings Products segment assets were $109.3 million, $120.3 million, and $110.0 million as of December 31, 2022, 2021, and 2020, respectively.
Long Lived Assets and Continuing Operations by Country

Geographical Information. Results of operations by country and long-lived assets — primarily tangible assets reported in other assets in our consolidated balance sheets —were as follows:

 

 

 

Year ended December 31,

 

 

 

2022

 

 

2021

 

 

2020

 

 

(In thousands)

 

Revenues by country:

 

 

 

 

 

 

 

 

 

United States

 

$

2,355,139

 

 

$

2,311,051

 

 

$

1,895,708

 

Canada

 

 

364,994

 

 

 

398,681

 

 

 

321,833

 

Total revenues

 

$

2,720,133

 

 

$

2,709,732

 

 

$

2,217,541

 

 

 

 

December 31, 2022

 

 

December 31, 2021

 

 

December 31, 2020

 

 

(In thousands)

 

Long-lived assets by country:

 

 

 

 

 

 

 

 

 

United States

 

$

49,637

 

 

$

62,921

 

 

$

53,281

 

Canada

 

 

2,803

 

 

 

3,871

 

 

 

4,446

 

Other

 

 

217

 

 

 

230

 

 

 

-

 

Total long-lived assets

 

$

52,657

 

 

$

67,022

 

 

$

57,727