XML 91 R79.htm IDEA: XBRL DOCUMENT v3.20.2
OPERATING SEGMENTS - Schedule of Operating Segments (Details)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
USD ($)
Mar. 31, 2020
USD ($)
Jun. 30, 2019
USD ($)
Mar. 31, 2019
USD ($)
Jun. 30, 2020
USD ($)
numberOfSegments
Jun. 30, 2019
USD ($)
Dec. 31, 2019
USD ($)
Summarized financial information for the company's segments              
Number of operating segments | numberOfSegments         6    
Revenues $ 1,504,440   $ 1,419,093   $ 3,189,326 $ 2,783,898  
Pre-tax Adjusted Operating Income (Loss) 116,540   104,847   174,422 213,653  
Realized gains (losses) and adjustments 89,301   80,876   122,892 148,797  
Income before income tax 205,841   185,723   297,314 362,450  
Income tax expense (40,736)   (31,309)   (58,244) (65,938)  
Net income 165,105 $ 73,965 154,414 $ 142,098 239,070 296,512  
Adjusted operating income tax expense (21,982)   (14,325)   (32,436) (34,691)  
After-tax adjusted operating income 94,558   90,522   141,986 178,962  
Income tax (expense) benefit on adjustments (18,754)   (16,984)   (25,808) (31,247)  
Realized gains (losses) and adjustments:              
Derivative financial instruments (160,578)   (55,266)   77,562 (128,574)  
Investments 180,680   98,811   (95,571) 225,197  
Less: related amortization (55,952)   (26,840)   (114,378) (31,201)  
Less: VA GLWB economic cost (13,247)   (10,491)   (26,523) (20,973)  
Net investment income 740,435   685,194   1,493,415 1,326,616  
Amortization of deferred policy acquisition costs and value of business acquired (18,508)   33,837   35,455 64,210  
Operating Segment Assets              
Investments and other assets 118,033,277       118,033,277   $ 115,549,177
DAC and VOBA 3,561,997       3,561,997   3,519,555
Other intangibles 565,115       565,115   583,426
Goodwill 825,511       825,511   825,511
Total assets 122,985,900       122,985,900   120,477,669
Retail Life and Annuity              
Summarized financial information for the company's segments              
Revenues 553,872   573,256   1,330,516 1,166,010  
Pre-tax Adjusted Operating Income (Loss) 20,035   37,378   7,715 84,390  
Realized gains (losses) and adjustments:              
Net investment income 246,929   231,570   499,348 462,468  
Amortization of deferred policy acquisition costs and value of business acquired 6,752   5,246   (7,004) 20,194  
Operating Segment Assets              
Investments and other assets 38,003,155       38,003,155   37,448,239
DAC and VOBA 2,503,881       2,503,881   2,416,616
Other intangibles 384,423       384,423   401,178
Goodwill 558,501       558,501   558,501
Total assets 41,449,960       41,449,960   40,824,534
Acquisitions              
Summarized financial information for the company's segments              
Revenues 797,561   667,031   1,597,162 1,276,973  
Pre-tax Adjusted Operating Income (Loss) 97,997   69,810   173,122 144,722  
Realized gains (losses) and adjustments:              
Net investment income 413,346   355,761   829,773 680,272  
Amortization of deferred policy acquisition costs and value of business acquired (42,355)   12,037   9,606 10,961  
Operating Segment Assets              
Investments and other assets 54,020,299       54,020,299   54,074,450
DAC and VOBA 885,472       885,472   924,090
Other intangibles 34,668       34,668   36,321
Goodwill 23,862       23,862   23,862
Total assets 54,964,301       54,964,301   55,058,723
Stable Value Products              
Summarized financial information for the company's segments              
Revenues 52,539   67,585   89,141 127,164  
Pre-tax Adjusted Operating Income (Loss) 16,665   28,106   41,990 50,345  
Realized gains (losses) and adjustments:              
Net investment income 52,399   67,122   115,069 124,743  
Amortization of deferred policy acquisition costs and value of business acquired 770   854   1,567 1,727  
Operating Segment Assets              
Investments and other assets 5,858,557       5,858,557   5,317,885
DAC and VOBA 5,166       5,166   5,221
Other intangibles 6,389       6,389   6,722
Goodwill 113,924       113,924   113,924
Total assets 5,984,036       5,984,036   5,443,752
Asset Protection              
Summarized financial information for the company's segments              
Revenues 69,103   73,070   141,592 146,265  
Pre-tax Adjusted Operating Income (Loss) 12,740   8,459   23,367 17,308  
Realized gains (losses) and adjustments:              
Net investment income 6,491   7,049   13,706 13,851  
Amortization of deferred policy acquisition costs and value of business acquired 16,325   15,700   31,286 31,328  
Operating Segment Assets              
Investments and other assets 862,780       862,780   878,386
DAC and VOBA 167,478       167,478   173,628
Other intangibles 106,690       106,690   112,032
Goodwill 129,224       129,224   129,224
Total assets 1,266,172       1,266,172   1,293,270
Corporate and Other              
Summarized financial information for the company's segments              
Revenues 31,365   38,151   30,915 67,486  
Pre-tax Adjusted Operating Income (Loss) (30,897)   (38,906)   (71,772) (83,112)  
Realized gains (losses) and adjustments:              
Net investment income 21,270   23,692   35,519 45,282  
Amortization of deferred policy acquisition costs and value of business acquired 0   $ 0   0 $ 0  
Operating Segment Assets              
Investments and other assets 19,288,486       19,288,486   17,830,217
DAC and VOBA 0       0   0
Other intangibles 32,945       32,945   27,173
Goodwill 0       0   0
Total assets $ 19,321,431       $ 19,321,431   $ 17,857,390