XML 45 R23.htm IDEA: XBRL DOCUMENT v3.19.1
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 3 Months Ended
Mar. 31, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The following tables summarize the changes in the accumulated balances for each component of accumulated other comprehensive income (loss) (“AOCI”) as of March 31, 2019 and December 31, 2018.


Changes in Accumulated Other Comprehensive Income (Loss) by Component
 
 
Unrealized
Gains and Losses
on Investments(2)
 
Accumulated
Gain and Loss
 Derivatives
 
Minimum
Pension Liability
Adjustment
 
Total
Accumulated
Other
Comprehensive
 Income (Loss)
 
 
(Dollars In Thousands, Net of Tax)
Balance, December 31, 2017
 
$
25,874

 
$
747

 
$
(13,925
)
 
$
12,696

Other comprehensive income (loss) before reclassifications
 
(1,420,499
)
 
(1,884
)
 
(3,546
)
 
(1,425,929
)
Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings
 
(20,751
)
 
—

 
—

 
(20,751
)
Amounts reclassified from accumulated other
comprehensive income (loss)(1)
 
15,651

 
1,130

 
1,989

 
18,770

Cumulative effect adjustments
 
(10,552
)
 
—

 
—

 
(10,552
)
Balance, December 31, 2018
 
$
(1,410,277
)
 
$
(7
)
 
$
(15,482
)
 
$
(1,425,766
)
Other comprehensive income (loss) before reclassifications
 
1,136,331

 
(1,966
)
 
—

 
1,134,365

Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings
 
8,792

 
—

 
—

 
8,792

Amounts reclassified from accumulated other
comprehensive income (loss)(1)
 
(1,560
)
 
220

 
—

 
(1,340
)
Cumulative effect adjustments
 
—

 
—

 
—

 
—

Balance, March 31, 2019
 
$
(266,714
)

$
(1,753
)

$
(15,482
)
 
$
(283,949
)
 
 
 
 
 
 
 
 
 
(1)  See Reclassifications Out of Accumulated Other Comprehensive Income (Loss) table below for details.
(2)  As of December 31, 2018 and March 31, 2019, net unrealized losses reported in AOCI were offset by $613.4 million and $199.1 million, respectively, due to the impact those net unrealized losses would have had on certain of the Company’s insurance assets and liabilities if the net unrealized losses had been recognized in net income.
The following tables summarize the reclassifications amounts out of AOCI for the three months ended March 31, 2019 and 2018.
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
 
 
Affected Line Item in the Condensed Consolidated
 
 
 
 
Gains/(losses) in net income:
 
Statements of Income
 
For The Three Months Ended March 31,
 
 
 
 
2019
 
2018
 
 
 
 
(Dollars In Thousands)
Derivative instruments
 
Benefits and settlement expenses, net of reinsurance ceded(1)
 
$
(278
)
 
$
(113
)
 
 
Tax (expense) benefit
 
58

 
24

 
 
 
 
$
(220
)

$
(89
)
 
 
 
 
 
 
 
Unrealized gains and losses on available-for-sale securities
 
Realized investment gains (losses): All other investments
 
$
5,117

 
$
2,783


 
Net impairment losses recognized in earnings
 
(3,142
)
 
(3,645
)
 
 
Tax (expense) benefit
 
(415
)
 
181

 
 

 
$
1,560


$
(681
)
 
 
 
 
 
 
 
(1) See Note 7, Derivative Financial Instruments for additional information.