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OPERATING SEGMENTS (Tables)
 12 Months Ended
Dec. 31, 2013
OPERATING SEGMENTS  
Summary of financial information for the Company's segments

 

 

 
    
    
   For The Year Ended December 31,    
 
    
    
   2013   2012   2011    
 
    
    
   (Dollars In Thousands)
    

Revenues

                      

Life Marketing

   $ 1,444,806   $ 1,346,933   $ 1,301,301    

Acquisitions

     1,186,579     1,064,295     982,821    

Annuities

     714,552     612,202     634,347    

Stable Value Products

     122,790     122,849     170,115    

Asset Protection

     278,317     283,297     277,271    

Corporate and Other

     211,955     193,430     200,287    
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total revenues

   $ 3,958,999   $ 3,623,006   $ 3,566,142    
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                         

Segment Operating Income (Loss)

                      

Life Marketing

   $ 110,298   $ 105,032   $ 96,123    

Acquisitions

     154,003     171,060     157,393    

Annuities

     184,130     119,092     80,224    

Stable Value Products

     80,561     60,329     56,780    

Asset Protection

     26,795     16,454     25,407    

Corporate and Other

     (40,562 )   (3,203 )   5,767    
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total segment operating income

     515,225     468,764     421,694    

Realized investment gains (losses)—investments(1)(3)

     (172,720 )   186,186     181,907    

Realized investment gains (losses)—derivatives(2)

     247,868     (201,979 )   (133,370 )  

Income tax expense

     (196,909 )   (150,519 )   (154,839 )  
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net income available to PLC's common shareowners

   $ 393,464   $ 302,452   $ 315,392    
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                         

 
 
 
 
 
 
 
 
 
 
 
 

(1)

  

Investment (losses) gains

   $ (145,984 ) $ 172,149   $ 187,473    

 

  

Less: amortization related to DAC/VOBA and benefits and settlement expenses

     26,736     (14,037 )   5,566    
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

  

Realized investment gains (losses)—investments

   $ (172,720 ) $ 186,186   $ 181,907    
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                         

(2)

  

Derivatives gains (losses)

   $ 188,131   $ (238,480 ) $ (155,251 )  

 

  

Less: VA GMWB economic cost

     (59,737 )   (36,501 )   (21,881 )  
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

  

Realized investment gains (losses)—derivatives

   $ 247,868   $ (201,979 ) $ (133,370 )  
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                         

Net investment income

                      

Life Marketing

   $ 521,665   $ 486,463   $ 446,175    

Acquisitions

     617,298     550,334     529,261    

Annuities

     468,322     504,345     507,230    

Stable Value Products

     123,798     128,239     145,150    

Asset Protection

     23,179     24,310     26,501    

Corporate and Other

     163,819     168,641     166,326    
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total net investment income

   $ 1,918,081   $ 1,862,332   $ 1,820,643    
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                         

Amortization of DAC and VOBA

                      

Life Marketing

   $ 25,774   $ 45,079   $ 87,461    

Acquisitions

     72,762     77,251     75,041    

Annuities

     62,834     45,319     57,201    

Stable Value Products

     398     947     4,556    

Asset Protection

     30,505     33,951     38,080    

Corporate and Other

     625     1,018     2,654    
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total amortization of DAC and VOBA

   $ 192,898   $ 203,565   $ 264,993    
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                         
(3)
Includes credit related other-than-temporary impairments of $22.4 million, $58.9 million, and $47.4 million for the year ended December 31, 2013, 2012, and 2011, respectively.

 
   Operating Segment Assets
As of December 31, 2013		  
 
   (Dollars In Thousands)
  
 
   Life
Marketing		   Acquisitions   Annuities   Stable Value
Products		  

Investments and other assets

   $ 13,135,914   $ 20,201,081   $ 19,974,246   $ 2,558,551  

Deferred policy acquisition costs and value of business acquired

     2,071,470     813,239     647,485     1,001  

Goodwill

     10,192     32,517     —     —  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total assets

   $ 15,217,576   $ 21,046,837   $ 20,621,731   $ 2,559,552  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   


 

 
   Asset
Protection		   Corporate
and Other		   Adjustments   Total
Consolidated		  

Investments and other assets

   $ 852,273   $ 8,355,618   $ 16,762   $ 65,094,445  

Deferred policy acquisition costs and value of business acquired

     50,358     646     —     3,584,199  

Goodwill

     62,671     83     —     105,463  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total assets

   $ 965,302   $ 8,356,347   $ 16,762   $ 68,784,107  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   


 

 
   Operating Segment Assets
As of December 31, 2012		  
 
   (Dollars In Thousands)
  
 
   Life
Marketing		   Acquisitions   Annuities   Stable Value
Products		  

Investments and other assets

   $ 12,171,405   $ 11,312,550   $ 17,649,488   $ 2,509,160  

Deferred policy acquisition costs and value of business acquired

     2,001,708     679,746     491,184     1,399  

Goodwill

     10,192     35,615     —     —  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total assets

   $ 14,183,305   $ 12,027,911   $ 18,140,672   $ 2,510,559  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   


 

 
   Asset
Protection		   Corporate
and Other		   Adjustments   Total
Consolidated		  

Investments and other assets

   $ 789,916   $ 9,584,411   $ 19,662   $ 54,036,592  

Deferred policy acquisition costs and value of business acquired

     64,416     1,066     —     3,239,519  

Goodwill

     62,671     83     —     108,561  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total assets

   $ 917,003   $ 9,585,560   $ 19,662   $ 57,384,672  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​