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INCOME TAXES - Effective Income Tax Rate and Components of Income Tax and Deferred Liability (Details) - USD ($)
$ in Thousands
1 Months Ended 11 Months Ended 12 Months Ended
Jan. 31, 2015
Dec. 31, 2015
Dec. 31, 2016
Dec. 31, 2014
Deferred income tax liabilities:        
Change in valuation allowance, before federal income taxes     $ 1,800  
Successor        
Effective income tax rate related to continuing operations        
Statutory federal income tax rate applied to pre-tax income   35.00% 35.00%  
State income taxes   2.00% 0.80%  
Investment income not subject to tax   (4.30%) (2.70%)  
Uncertain tax positions   0.20% (0.30%)  
Other   0.00% 1.00%  
Effective tax rate (as a percent)   32.90% 33.80%  
Current income tax expense:        
Federal   $ 5,715 $ (50,638)  
State   (4,244) 3,919  
Total current   1,471 (46,719)  
Deferred income tax expense:        
Federal   118,338 240,127  
State   11,734 7,560  
Total deferred   130,072 247,687  
Deferred income tax assets:        
Loss and credit carryforwards     453,880  
Deferred compensation     209,979  
Deferred policy acquisition costs     156,012  
Premium on corporate debt     104,839  
Net unrealized loss on investments     353,448  
Other     44,956  
Valuation allowance     (6,007)  
Deferred income tax assets     1,317,107  
Deferred income tax liabilities:        
Premium receivables and policy liabilities     884,255  
VOBA and other intangibles     720,750  
Invested assets (other than unrealized gains (losses))     1,311,866  
Deferred income tax liabilities     2,916,871  
Net deferred income tax liability   (997,281) (1,599,764)  
State based operating loss carryforwards, valuation allowance   7,400 9,200  
State net operating loss carryforwards     19,800  
Predecessor        
Effective income tax rate related to continuing operations        
Statutory federal income tax rate applied to pre-tax income 35.00%     35.00%
State income taxes 0.80%     0.80%
Investment income not subject to tax (3.20%)     (3.40%)
Uncertain tax positions (0.10%)     1.30%
Other (0.10%)     0.30%
Effective tax rate (as a percent) 32.40%     34.00%
Current income tax expense:        
Federal $ (32,803)     $ 189,105
State 1,685     8,838
Total current (31,118)     197,943
Deferred income tax expense:        
Federal 30,858     1,474
State (67)     (1,003)
Total deferred $ 30,791     $ 471
Deferred income tax assets:        
Loss and credit carryforwards   34,340    
Deferred compensation   241,156    
Deferred policy acquisition costs   274,366    
Premium on corporate debt   125,296    
Net unrealized loss on investments   671,540    
Other   81,032    
Valuation allowance   (4,804)    
Deferred income tax assets   1,422,926    
Deferred income tax liabilities:        
Premium receivables and policy liabilities   276,919    
VOBA and other intangibles   631,935    
Invested assets (other than unrealized gains (losses))   1,511,353    
Deferred income tax liabilities   2,420,207    
Net deferred income tax liability   $ (997,281)    
2035 | Successor        
Deferred income tax liabilities:        
Net operating loss carryforwards     226,600  
2031        
Deferred income tax liabilities:        
Net operating loss carryforwards     1,021,500  
Foreign Tax Authority        
Deferred income tax liabilities:        
Foreign tax credits     $ 5,600