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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Investments:    
Fixed-maturity securities available-for-sale, at fair value (amortized cost: $1,877,326 in 2017 and $1,734,683 in 2016) $ 1,927,842 [1] $ 1,792,438 [2]
Fixed-maturity securities held-to-maturity, at amortized cost (fair value: $779,472 in 2017 and $513,015 in 2016) 737,150 503,230
Equity securities available-for-sale, at fair value (cost: $31,331 in 2017 and $36,818 in 2016) 41,107 44,894
Trading securities, at fair value (cost: $6,172 in 2017 and $7,382 in 2016) 6,228 7,383
Policy loans 32,816 30,916
Total investments 2,745,143 2,378,861
Cash and cash equivalents 279,962 211,976
Accrued investment income 16,665 16,520
Reinsurance recoverables 4,205,173 4,193,562
Deferred policy acquisition costs, net 1,951,892 1,713,065
Agent balances, due premiums and other receivables 229,522 210,448
Intangible assets, net 51,513 54,915
Deferred income taxes 48,614 37,369
Other assets 359,347 334,274
Separate account assets 2,572,872 2,287,953
Total assets 12,460,703 11,438,943
Liabilities:    
Future policy benefits 5,954,524 5,673,890
Unearned premiums 486 527
Policy claims and other benefits payable 307,401 268,136
Other policyholders’ funds 377,998 363,038
Notes payable 373,288 372,919
Surplus note 736,381 502,491
Income tax payable 24,896 26,365
Deferred income taxes 152,572 198,641
Other liabilities 451,398 449,963
Payable under securities lending 89,786 73,646
Separate account liabilities 2,572,872 2,287,953
Commitments and contingent liabilities (see Commitments and Contingent Liabilities note)
Total liabilities 11,041,602 10,217,569
Stockholders’ equity:    
Common stock ($0.01 par value; authorized 500,000 in 2017 and 2016; issued and outstanding 44,251 shares in 2017 and 45,721 shares in 2016) 443 457
Paid-in capital   52,468
Retained earnings 1,375,090 1,138,851
Accumulated other comprehensive income (loss), net of income tax:    
Unrealized foreign currency translation gains (losses) 3,995 (13,193)
Net unrealized investment gains (losses):    
Net unrealized investment gains not other-than-temporarily impaired 39,686 42,852
Net unrealized investment losses other-than-temporarily impaired (113) (61)
Total stockholders’ equity 1,419,101 1,221,374
Total liabilities and stockholders’ equity $ 12,460,703 $ 11,438,943
[1] Includes approximately $0.2 million of 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 losses related to corporates and mortgage- and asset-backed securities recognized in accumulated other comprehensive income.