DEBT AND OTHER OBLIGATIONS (Tables)

6 Months Ended

Jun. 30, 2020

Non-Recourse Funding Obligations Outstanding

Non-recourse funding obligations outstanding as of June 30, 2020, on a consolidated basis, are shown in the following table:


Issuer	Outstanding Principal		Carrying Value⁽¹⁾		Maturity Year	Year-to-Date Weighted-Avg Interest Rate
	(Dollars In Thousands)
Golden Gate Captive Insurance Company⁽²⁾⁽³⁾	$	1,915,000	$	1,915,000	2039	4.70	%
Golden Gate II Captive Insurance Company	329,949		275,579		2052	4.38	%
Golden Gate V Vermont Captive Insurance Company⁽²⁾⁽³⁾	740,000		796,526		2037	5.12	%
MONY Life Insurance Company⁽³⁾	1,885		2,235		2024	6.19	%
Total	$	2,986,834	$	2,989,340

(1) Carrying values include premiums and discounts and do not represent unpaid principal balances.
(2) Obligations are issued to non-consolidated subsidiaries of PLC. These obligations collateralize certain held-to-maturity securities issued by wholly owned subsidiaries of the Company. Changes in Golden Gate and Golden Gate V are non-cash items.
(3) Fixed rate obligations.

Non-recourse funding obligations outstanding as of December 31, 2019, on a consolidated basis, are shown in the following table:


Issuer	Outstanding Principal		Carrying Value⁽¹⁾		Maturity Year	Year-to-Date Weighted-Avg Interest Rate
	(Dollars In Thousands)
Golden Gate Captive Insurance Company⁽²⁾⁽³⁾	$	2,028,000	$	2,028,000	2039	4.70	%
Golden Gate II Captive Insurance Company	329,949		274,955		2052	5.06	%
Golden Gate V Vermont Captive Insurance Company⁽²⁾⁽³⁾	720,000		777,527		2037	5.12	%
MONY Life Insurance Company⁽³⁾	1,885		2,271		2024	6.19	%
Total	$	3,079,834	$	3,082,753

(1) Carrying values include premiums and discounts and do not represent unpaid principal balances.
(2) Obligations are issued to non-consolidated subsidiaries of PLC. These obligations collateralize certain held-to-maturity securities issued by wholly owned subsidiaries of the Company. Changes in Golden Gate and Golden Gate V are non-cash items.
(3) Fixed rate obligations.

Schedule of Collateral Pledged for Repurchase Agreements

The following table provides the fair value of collateral pledged for repurchase agreements, grouped by asset class as of June 30, 2020 and December 31, 2019:

Repurchase Agreements, Securities Lending Transactions, and Repurchase-to-Maturity Transactions

Accounted for as Secured Borrowings


	Remaining Contractual Maturity of the Agreements
	As of June 30, 2020
	(Dollars In Thousands)
	Overnight and Continuous		Up to 30 days		30-90 days		Greater Than 90 days		Total
Repurchase agreements and repurchase-to-maturity transactions
U.S. Treasury and agency securities	$	103,190	$	—	$	—	$	—	$	103,190






Total repurchase agreements and repurchase-to-maturity transactions	103,190		—		—		—		103,190
Securities lending transactions



Corporate securities	72,576		—		—		—		72,576
Equity securities	26,566		—		—		—		26,566

Other government related securities	419		—		—		—		419

Total securities lending transactions	99,561		—		—		—		99,561
Total securities	$	202,751	$	—	$	—	$	—	$	202,751

Repurchase Agreements, Securities Lending Transactions, and Repurchase-to-Maturity Transactions

Accounted for as Secured Borrowings


	Remaining Contractual Maturity of the Agreements
	As of December 31, 2019
	(Dollars In Thousands)
	Overnight and Continuous		Up to 30 days		30-90 days		Greater Than 90 days		Total
Repurchase agreements and repurchase-to-maturity transactions
U.S. Treasury and agency securities	$	282,198	$	—	$	—	$	—	$	282,198






Total repurchase agreements and repurchase-to-maturity transactions	282,198		—		—		—		282,198
Securities lending transactions



Fixed maturity securities	55,720		—		—		—		55,720
Equity securities	7,120		—		—		—		7,120



Total securities lending transactions	62,840		—		—		—		62,840
Total securities	$	345,038	$	—	$	—	$	—	$	345,038