Financing Receivables (Tables)

12 Months Ended

Dec. 31, 2014

Allowances For Credit Losses And Investment in Financing Receivables

The allowances for credit losses and recorded investment in financing receivables as of December 31 are shown below:

	Mortgage loans			Nontrade receivables		Loans to non-affiliates		Total
2014:
Allowance for credit losses:
Beginning balance	$	66,750			6,217		—		72,967
(Benefit)/provision		(31,750	)		269		—		(31,481	)
Ending balance		35,000			6,486		—		41,486
Ending balance individually evaluated for impairment		—			1,505		—		1,505
Ending balance collectively evaluated for impairment	$	35,000			4,981		—		39,981
Financing receivables:
Ending balance	$	7,217,169			30,272		30,335		7,277,776
Ending balance individually evaluated for impairment		—			1,505		30,335		31,840
Ending balance collectively evaluated for impairment	$	7,217,169			28,767		—		7,245,936

	Mortgage loans			Nontrade receivables			Loans to non-affiliates		Total
2013
Allowance for credit losses:
Beginning balance	$	85,250			6,892			—		92,142
Benefit		(18,500	)		(675	)		—		(19,175	)
Ending balance		66,750			6,217			—		72,967
Ending balance individually evaluated for impairment		26,750			1,505			—		28,255
Ending balance collectively evaluated for impairment	$	40,000			4,712			—		44,712
Financing receivables:
Ending balance	$	6,201,275			28,789			9,806		6,239,870
Ending balance individually evaluated for impairment		116,750			1,505			9,806		128,061
Ending balance collectively evaluated for impairment	$	6,084,525			27,284			—		6,111,809

Loan-to-Value Analysis

The loan-to-value analysis as of December 31 is shown below:

	Commercial				Residential				Total
2014:
Less than 50%	$	2,439,554	33.9	%		—	—	%	$	2,439,554	33.9	%
50% – 60%		1,849,502	25.6			—	—			1,849,502	25.6
60% – 70%		2,072,965	28.7			—	—			2,072,965	28.7
70% – 80%		599,743	8.3			—	—			599,743	8.3
80% – 90%		209,957	2.9			—	—			209,957	2.9
90% – 100%		13,426	0.2			—	—			13,426	0.2
Greater than 100%		32,022	0.4			—	—			32,022	0.4
Total	$	7,217,169	100.0	%		—	—	%	$	7,217,169	100.0	%

	Commercial				Residential				Total
2013:
Less than 50%	$	2,025,011	32.7	%	$	578	100.0	%	$	2,025,589	32.7	%
50% – 60%		1,668,987	26.9			—	—			1,668,987	26.9
60% – 70%		1,622,171	26.2			—	—			1,622,171	26.2
70% – 80%		477,096	7.7			—	—			477,096	7.7
80% – 90%		168,964	2.7			—	—			168,964	2.7
90% – 100%		—	—			—	—			—	—
Greater than 100%		238,468	3.8			—	—			238,468	3.8
Total	$	6,200,697	100.0	%	$	578	100.0	%	$	6,201,275	100.0	%

Debt Service Coverage Ratio

The debt service coverage ratio as of December 31 is shown below:

	2014		2013
Debt service coverage ratio:
Greater than 1.4x	$	5,204,622		4,103,809
1.2x – 1.4x		1,208,043		955,230
1.0x – 1.2x		656,376		858,438
Less than 1.0x		148,128		283,220
Total commercial mortgage loans	$	7,217,169		6,200,697

Nontrade Receivables and Allowance for Credit Losses

The nontrade receivable and allowance for credit losses by customer classification as of December 31 are shown below:

	2014									2013
	Agent			Reinsurer			Total			Agent			Reinsurer			Total
Nontrade receivables	$	11,557			18,715			30,272			9,681			19,108			28,789
Allowance for credit losses		(4,981	)		(1,505	)		(6,486	)		(4,712	)		(1,505	)		(6,217	)
Net nontrade receivables	$	6,576			17,210			23,786			4,969			17,603			22,572

Aging Analysis of Past Due Financing Receivables

Aging analysis of past-due financing receivables as of December 31 is shown below:

	31–60   past due		61–90 past due		Greater than 90 days past due		Total past due		Current (1)		Total
2014:
Mortgage loans	$	—		—		—		—		7,217,169		7,217,169
Loans to non-affiliates		—		—		—		—		30,335		30,335
Nontrade receivables		3,794		2,533		7,021		13,348		16,924		30,272
Total	$	3,794		2,533		7,021		13,348		7,264,428		7,277,776

(1) Current amount includes all receivables 30 days or less past due.

	31–60   past due		61–90 past due		Greater than 90 days past due		Total past due		Current (1)		Total
2013:
Mortgage loans	$	—		—		—		—		6,201,275		6,201,275
Loans to non-affiliates		—		—		—		—		9,806		9,806
Nontrade receivables		6,657		3,457		8,715		18,829		9,960		28,789
Total	$	6,657		3,457		8,715		18,829		6,221,041		6,239,870

(1) Current amount includes all receivables 30 days or less past due.