DEBT AND OTHER OBLIGATIONS (Tables)

12 Months Ended

Dec. 31, 2011

DEBT AND OTHER OBLIGATIONS

Schedule of debt and subordinated debt securities

	As of December 31,
	2011		2010
	(Dollars In Thousands)
Debt (year of issue):
Revolving Line Of Credit	$	170,000	$	142,000
7.45% Medium-Term Notes (1996), due 2011		—		9,852
4.30% Senior Notes (2003), due 2013		250,000		250,000
4.875% Senior Notes (2004), due 2014		150,000		150,000
6.40% Senior Notes (2007), due 2018		150,000		150,000
7.375% Senior Notes (2009), due 2019		400,000		400,000
8.00% Senior Notes (2009), due 2024, callable 2014		100,000		100,000
8.45% Senior Notes (2009), due 2039		300,000		300,000
Total Debt	$	1,520,000	$	1,501,852
Subordinated debt securities (year of issue):
7.50% Subordinated Debentures (2001), due 2031, callable 2006	$	103,093	$	103,093
7.25% Subordinated Debentures (2002), due 2032, callable 2007		118,557		118,557
6.125% Subordinated Debentures (2004), due 2034, callable 2009		103,093		103,093
7.25% Capital Securities (2006), due 2066, callable 2011		200,000		200,000
Total subordinated debt securities	$	524,743	$	524,743

Summary of estimated debt covenant calculations

	Requirement	Actual Results
Consolidated net worth margin	greater than or equal to 0	greater than $750 million
Debt to total capital ratio*	Less than 40%	Approximately 29%
Total adjusted capital margin	greater than or equal to 0	Approximately $1.6 billion
Interest cash inflow available compared to adjusted consolidated interest expense	greater than 2.0 to 1	greater than 5.0 to 1

*

Excludes $800 million of senior notes issued in 2009

Non-recourse funding obligations outstanding

Issuer	Balance		Maturity Year		Year-to-Date Weighted-Avg Interest Rate
	(Dollars In Thousands)
Golden Gate II Captive Insurance Company	$	407,800		2052		1.35	%
Total	$	407,800