OPERATING SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Summary of Financial Information for the Company's Segments

The following tables present a summary of results and reconciles pre-tax adjusted operating income (loss) to consolidated income before income tax and net income:

	For The Three Months Ended March 31,
	2018			2017
	(Dollars In Thousands)
Revenues
Life Marketing	$	434,916		$	421,392
Acquisitions	379,094			401,367
Annuities	150,713			108,642
Stable Value Products	53,868			40,843
Asset Protection	76,375			80,083
Corporate and Other	70,866			52,970
Total revenues	$	1,165,832		$	1,105,297
Pre-tax Adjusted Operating Income (Loss)
Life Marketing	$	(17,849	)	$	18,945
Acquisitions	55,520			53,667
Annuities	40,531			53,007
Stable Value Products	29,080			23,899
Asset Protection	6,218			5,599
Corporate and Other	(20,679		)	(19,728		)
Pre-tax adjusted operating income	92,821			135,389
Realized (losses) gains on investments and derivatives	(1,023		)	(23,040		)
Income before income tax	91,798			112,349
Income tax expense	(17,686		)	(36,935		)
Net income	$	74,112		$	75,414
Pre-tax adjusted operating income	$	92,821		$	135,389
Adjusted operating income tax (expense) benefit	(18,044		)	(44,999		)
After-tax adjusted operating income	74,777			90,390
Realized (losses) gains on investments and derivatives	(1,023		)	(23,040		)
Income tax benefit (expense) on adjustments	358			8,064
Net income	$	74,112		$	75,414
Realized investment (losses) gains:
Derivative financial instruments	$	78,059		$	(69,878	)
All other investments	(87,599		)	22,841
Net impairment losses recognized in earnings	(3,645		)	(7,831		)
Less: related amortization(1)	9,156			(10,744		)
Less: VA GLWB economic cost	(21,318		)	(21,084		)
Realized (losses) gains on investments and derivatives	$	(1,023	)	$	(23,040	)
(1)  Includes amortization of DAC/VOBA and benefits and settlement expenses that are impacted by realized gains (losses).

	Operating Segment Assets As of March 31, 2018
	(Dollars In Thousands)
	Life Marketing		Acquisitions		Annuities		Stable Value Products
Investments and other assets	$	14,744,343	$	19,275,508	$	20,535,539	$	4,571,793
DAC and VOBA	1,374,149		90,466		800,941		6,133
Other intangibles	277,489		33,909		166,784		7,889
Goodwill	200,274		14,524		336,677		113,813
Total assets	$	16,596,255	$	19,414,407	$	21,839,941	$	4,699,628

	Asset Protection		Corporate and Other		Total Consolidated
Investments and other assets	$	1,016,586	$	13,988,814	$	74,132,583
DAC and VOBA	162,465		—		2,434,154
Other intangibles	130,573		35,063		651,707
Goodwill	128,182		—		793,470
Total assets	$	1,437,806	$	14,023,877	$	78,011,914

	Operating Segment Assets As of December 31, 2017
	(Dollars In Thousands)
	Life Marketing		Acquisitions		Annuities		Stable Value Products
Investments and other assets	$	14,914,418	$	19,588,133	$	20,938,409	$	4,569,639
DAC and VOBA	1,320,776		74,862		772,634		6,864
Other intangibles	282,361		34,548		170,117		8,056
Goodwill	200,274		14,524		336,677		113,813
Total assets	$	16,717,829	$	19,712,067	$	22,217,837	$	4,698,372

	Asset Protection		Corporate and Other		Total Consolidated
Investments and other assets	$	918,952	$	15,043,597	$	75,973,148
DAC and VOBA	24,441		—		2,199,577
Other intangibles	133,234		35,256		663,572
Goodwill	128,182		—		793,470
Total assets	$	1,204,809	$	15,078,853	$	79,629,767