Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax (Benefit) Expense

Total income tax expense for the years ended December 31 is as follows:

	2016			2015			2014
Income tax expense attributable to operations:
Current tax expense	$	558,016			551,052			265,586
Deferred tax (benefit)		(202,860	)		(307,986	)		(240,863	)
Total income tax expense attributable to net income		355,156			243,066			24,723
Income tax effect on equity:
Income tax expense allocated to stockholder’s equity:
Attributable to unrealized gains (losses) on investments		357,363			(691,519	)		418,073
Attributable to unrealized gains on postretirement obligations		36			—			—
Attributable to unrealized gains (losses) on foreign exchange		373			(2,159	)		(1,132	)
Total income tax effect on equity	$	712,928			(450,612	)		441,664

Income Tax (Benefit) Expense Computed at the Statutory Rate

Income tax expense computed at the statutory rate of 35% varies from Income tax expense reported in the Consolidated Statements of Operations for the respective years ended December 31 as follows:

	2016			2015			2014
Income tax expense computed at the statutory rate	$	400,167			295,177			63,066
Dividends-received deductions and tax-exempt interest		(40,326	)		(40,687	)		(27,849	)
State income tax		11,266			4,642			4,106
(Release) accrual of LIH tax credits		(5,819	)		(1,284	)		321
Accrual (release) of tax contingency reserve		373			(10,701	)		2,180
Foreign tax, net		(3,587	)		(3,143	)		(3,202	)
Corporate-owned life insurance		(7,833	)		(2,285	)		(7,806	)
Penalties		(47	)		529			(6,174	)
Other		962			818			81
Income tax expense as reported	$	355,156			243,066			24,723

Significant Components of Net Deferred Tax Asset (Liability)

Tax effects of temporary differences giving rise to the significant components of the net deferred tax asset (liability). The net deferred tax asset (liability) on the Consolidated Balance Sheets at December 31 is as follows:

	2016			2015
Deferred tax assets:
Policy reserves	$	3,326,409			3,219,849
Expense accruals		40,792			47,412
Other-than-temporarily impaired assets		40,821			20,961
Provision for postretirement benefits		49,437			34,072
Other		3,267			6,898
Total deferred tax assets		3,460,726			3,329,192
Deferred tax liabilities:
Deferred acquisition costs		(1,533,188	)		(1,948,643	)
Investment income		(253,987	)		(230,228	)
Depreciation and amortization		(59,822	)		(55,351	)
Net unrealized gains on investments and foreign exchange		(1,225,720	)		(551,999	)
Total deferred tax liabilities		(3,072,717	)		(2,786,221	)
Net deferred tax asset	$	388,009			542,971

Reconciliation of Unrecognized Tax Benefits

recognizes liabilities for certain unrecognized tax benefits. Reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2016		2015
Balance at January 1	$	1,367		59,103
Additions based on tax positions related to the current year		330		359
Amounts released related to tax positions taken in prior years		—		(58,095	)
Balance at December 31	$	1,697		1,367