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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
Investments:    
Fixed-maturity securities available-for-sale, at fair value (amortized cost: $1,822,890 in 2017 and $1,734,683 in 2016) $ 1,888,983 [1] $ 1,792,438 [2]
Fixed-maturity securities held-to-maturity, at amortized cost (fair value: $665,801 in 2017 and $513,015 in 2016) 635,690 503,230
Equity securities available-for-sale, at fair value (cost: $35,369 in 2017 and $36,818 in 2016) 45,936 44,894
Trading securities, at fair value (cost: $15,538 in 2017 and $7,382 in 2016) 15,541 7,383
Policy loans 34,316 30,916
Total investments 2,620,466 2,378,861
Cash and cash equivalents 154,499 211,976
Accrued investment income 16,585 16,520
Due from reinsurers 4,191,754 4,193,562
Deferred policy acquisition costs, net 1,833,877 1,713,065
Agent balances, due premiums and other receivables 223,923 210,448
Intangible assets, net (accumulated amortization: $76,933 in 2017 and $75,231 in 2016) 53,214 54,915
Income taxes 39,764 37,369
Other assets 386,279 334,274
Separate account assets 2,424,937 2,287,953
Total assets 11,945,298 11,438,943
Liabilities:    
Future policy benefits 5,812,217 5,673,890
Unearned premiums 500 527
Policy claims and other benefits payable 267,630 268,136
Other policyholders’ funds 377,313 363,038
Notes payable 373,103 372,919
Surplus note 634,980 502,491
Income taxes 241,314 225,006
Other liabilities 428,176 449,963
Payable under securities lending 115,875 73,646
Separate account liabilities 2,424,937 2,287,953
Commitments and contingent liabilities (see Commitments and Contingent Liabilities note)
Total liabilities 10,676,045 10,217,569
Stockholders’ equity:    
Common stock ($0.01 par value; authorized 500,000 in 2017 and 2016; issued and outstanding 45,035 shares in 2017 and 45,721 shares in 2016) 450 457
Paid-in capital   52,468
Retained earnings 1,224,375 1,138,851
Accumulated other comprehensive income (loss), net of income tax:    
Unrealized foreign currency translation gains (losses) (5,401) (13,193)
Net unrealized investment gains (losses):    
Net unrealized investment gains not other-than-temporarily impaired 49,883 42,852
Net unrealized investment losses other-than-temporarily impaired (54) (61)
Total stockholders’ equity 1,269,253 1,221,374
Total liabilities and stockholders’ equity $ 11,945,298 $ 11,438,943
[1] Includes approximately $0.1 million of other-than-temporary impairment (“OTTI”) losses related to corporates and mortgage- and asset-backed securities recognized in accumulated other comprehensive income.
[2] Includes approximately $0.1 million of OTTI related to corporates and mortgage- and asset-backed securities recognized in accumulated other comprehensive income.