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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Investments:    
Fixed maturities—available for sale, at fair value (amortized cost: 2023—$18,924,914; 2022—$18,301,692, allowance for credit losses: 2023— $7,115; 2022— $0) $ 17,870,206 $ 16,503,365
Mortgage loans 279,199 181,305
Policy loans 657,020 614,866
Other long-term investments (includes: 2023—$795,583; 2022—$768,689 under the fair value option) 835,878 794,711
Short-term investments 81,740 114,121
Total investments 19,724,043 18,208,368
Cash 103,156 92,559
Accrued investment income 270,396 259,581
Other receivables 630,223 589,171
Deferred acquisition costs 6,009,477 5,535,697
Goodwill 481,791 481,791
Other assets 832,413 819,630
Total assets 28,051,499 25,986,797
Liabilities:    
Future policy benefits 19,460,353 18,097,341
Unearned and advance premium 254,567 253,360
Policy claims and other benefits payable 514,875 509,356
Other policyholders' funds 236,958 123,236
Total policy liabilities 20,466,753 18,983,293
Current and deferred income taxes 494,639 434,649
Short-term debt 486,113 449,103
Long-term debt (estimated fair value: 2023—$1,491,229; 2022—$1,440,277) 1,629,559 1,627,952
Other liabilities 487,632 542,223
Total liabilities 23,564,696 22,037,220
Commitments and Contingencies (Note 5)
Shareholders' equity:    
Preferred stock, par value $1 per share—5,000,000 shares authorized; outstanding: 0 in 2023 and 2022 0 0
Common stock, par value $1 per share—320,000,000 shares authorized; outstanding: (2023—102,218,183 issued; 2022—105,218,183 issued) 102,218 105,218
Additional paid-in-capital 532,474 529,661
Accumulated other comprehensive income (loss) (2,772,419) (2,790,313)
Retained earnings 7,478,813 6,894,535
Treasury stock, at cost: (2023—8,426,854 shares; 2022—8,478,288 shares) (854,283) (789,524)
Total shareholders' equity 4,486,803 3,949,577
Total liabilities and shareholders' equity $ 28,051,499 $ 25,986,797