XML 26 R16.htm IDEA: XBRL DOCUMENT v3.5.0.2
Other Comprehensive Income
 9 Months Ended
Sep. 30, 2016
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Other Comprehensive Income
Other Comprehensive Income
 
The following tables present the accumulated balances for each classification of other comprehensive income (loss):
 
 
Three Months Ended September 30, 2016
 
Unrealized
holding gains
/ losses
arising on
fixed
maturities,
available-for-
sale
 
Unrealized
holding gains
/ losses
arising on
cash flow
hedges
 
Future policy
benefits, DAC
and VOBA
adjustments
 
Employee
benefit plan
adjustment
 
Total
Balances, July 1, 2016
$
855,034

 
$
45,316

 
$
(178,086
)
 
$
(82,677
)
 
$
639,587

Other comprehensive income (loss) before reclassifications
36,302

 
(5,074
)
 
(11,839
)
 
—

 
19,389

Amounts reclassified from AOCI
(5,503
)
 
(1,182
)
 
—

 
1,621

 
(5,064
)
Net current period other comprehensive income (loss)
30,799

 
(6,256
)
 
(11,839
)
 
1,621

 
14,325

Balances, September 30, 2016
$
885,833

 
$
39,060

 
$
(189,925
)
 
$
(81,056
)
 
$
653,912

 
 
Three Months Ended September 30, 2015
 
Unrealized
holding gains
/ losses
arising on
fixed
maturities,
available-for-
sale
 
Unrealized
holding gains
/ losses
arising on
cash flow
hedges
 
Future policy
benefits, DAC
and VOBA
adjustments
 
Employee
benefit plan
adjustment
 
Total
Balances, July 1, 2015
$
560,527

 
$
30,653

 
$
(79,296
)
 
$
(102,513
)
 
$
409,371

Other comprehensive income (loss) before reclassifications
(3,619
)
 
9,623

 
(1,549
)
 
(7
)
 
4,448

Amounts reclassified from AOCI
(3,859
)
 
(1,364
)
 
—

 
2,021

 
(3,202
)
Net current period other comprehensive income (loss)
(7,478
)
 
8,259

 
(1,549
)
 
2,014

 
1,246

Balances, September 30, 2015
$
553,049

 
$
38,912

 
$
(80,845
)
 
$
(100,499
)
 
$
410,617

 
Nine Months Ended September 30, 2016
 
Unrealized
holding gains
/ losses
arising on
fixed
maturities,
available-for-
sale
 
Unrealized
holding gains
/ losses
arising on
cash flow
hedges
 
Future policy
benefits, DAC
and VOBA
adjustments
 
Employee
benefit plan
adjustment
 
Total
Balances, January 1, 2016
$
339,520

 
$
45,284

 
$
(65,785
)
 
$
(85,581
)
 
$
233,438

Other comprehensive income (loss) before reclassifications
582,133

 
(2,150
)
 
(124,140
)
 
—

 
455,843

Amounts reclassified from AOCI
(35,820
)
 
(4,074
)
 
—

 
4,525

 
(35,369
)
Net current period other comprehensive income (loss)
546,313

 
(6,224
)
 
(124,140
)
 
4,525

 
420,474

Balances, September 30, 2016
$
885,833

 
$
39,060

 
$
(189,925
)
 
$
(81,056
)
 
$
653,912


 
Nine Months Ended September 30, 2015
 
Unrealized
holding gains
/ losses
arising on
fixed
maturities,
available-for-
sale
 
Unrealized
holding gains
/ losses
arising on
cash flow
hedges
 
Future policy
benefits, DAC
and VOBA
adjustments
 
Employee
benefit plan
adjustment
 
Total
Balances, January 1, 2015
$
784,183

 
$
33,141

 
$
(108,194
)
 
$
(106,112
)
 
$
603,018

Other comprehensive income (loss) before reclassifications
(207,043
)
 
9,962

 
27,349

 
(222
)
 
(169,954
)
Amounts reclassified from AOCI
(24,091
)
 
(4,191
)
 
—

 
5,835

 
(22,447
)
Net current period other comprehensive income (loss)
(231,134
)
 
5,771

 
27,349

 
5,613

 
(192,401
)
Balances, September 30, 2015
$
553,049

 
$
38,912

 
$
(80,845
)
 
$
(100,499
)
 
$
410,617



The following tables present the composition of other comprehensive income (loss):
 
 
Three Months Ended September 30, 2016
 
Before-tax
 
Tax (expense)
 
Net-of-tax
 
amount
 
benefit
 
amount
Unrealized holding gains (losses), net, arising on fixed maturities, available-for-sale
$
55,849

 
$
(19,547
)
 
$
36,302

Unrealized holding gains (losses), net, arising on cash flow hedges
(7,805
)
 
2,731

 
(5,074
)
Reclassification adjustment for (gains) losses, net, realized in net income
(10,284
)
 
3,599

 
(6,685
)
Net unrealized gains (losses) related to investments
37,760

 
(13,217
)
 
24,543

Future policy benefits, DAC and VOBA adjustments
(18,214
)
 
6,375

 
(11,839
)
Net unrealized gains (losses)
19,546

 
(6,842
)
 
12,704

Employee benefit plan adjustment
2,494

 
(873
)
 
1,621

Other comprehensive income (loss)
$
22,040

 
$
(7,715
)
 
$
14,325

 
Three Months Ended September 30, 2015
 
Before-tax
 
Tax (expense)
 
Net-of-tax
 
amount
 
benefit
 
amount
Unrealized holding gains (losses), net, arising on fixed maturities, available-for-sale
$
(5,568
)
 
$
1,949

 
$
(3,619
)
Unrealized holding gains (losses), net, arising on cash flow hedges
14,804

 
(5,181
)
 
9,623

Reclassification adjustment for (gains) losses, net, realized in net income
(8,036
)
 
2,813

 
(5,223
)
Net unrealized gains (losses) related to investments
1,200

 
(419
)
 
781

Future policy benefits, DAC and VOBA adjustments
(2,383
)
 
834

 
(1,549
)
Net unrealized gains (losses)
(1,183
)
 
415

 
(768
)
Employee benefit plan adjustment
3,098

 
(1,084
)
 
2,014

Other comprehensive income (loss)
$
1,915

 
$
(669
)
 
$
1,246


 
Nine Months Ended September 30, 2016
 
Before-tax
 
Tax (expense)
 
Net-of-tax
 
amount
 
benefit
 
amount
Unrealized holding gains (losses), net, arising on fixed maturities, available-for-sale
$
895,589

 
$
(313,456
)
 
$
582,133

Unrealized holding gains (losses), net, arising on cash flow hedges
(3,307
)
 
1,157

 
(2,150
)
Reclassification adjustment for (gains) losses, net, realized in net income
(61,375
)
 
21,481

 
(39,894
)
Net unrealized gains (losses) related to investments
830,907

 
(290,818
)
 
540,089

Future policy benefits, DAC and VOBA adjustments
(190,985
)
 
66,845

 
(124,140
)
Net unrealized gains (losses)
639,922

 
(223,973
)
 
415,949

Employee benefit plan adjustment
6,962

 
(2,437
)
 
4,525

Other comprehensive income (loss)
$
646,884

 
$
(226,410
)
 
$
420,474


 
Nine Months Ended September 30, 2015
 
Before-tax
 
Tax (expense)
 
Net-of-tax
 
amount
 
benefit
 
amount
Unrealized holding gains (losses), net, arising on fixed maturities, available-for-sale
$
(318,529
)
 
$
111,486

 
$
(207,043
)
Unrealized holding gains (losses), net, arising on cash flow hedges
15,326

 
(5,364
)
 
9,962

Reclassification adjustment for (gains) losses, net, realized in net income
(43,511
)
 
15,229

 
(28,282
)
Net unrealized gains (losses) related to investments
(346,714
)
 
121,351

 
(225,363
)
Future policy benefits, DAC and VOBA adjustments
42,075

 
(14,726
)
 
27,349

Net unrealized gains (losses)
(304,639
)
 
106,625

 
(198,014
)
Employee benefit plan adjustment
8,635

 
(3,022
)
 
5,613

Other comprehensive income (loss)
$
(296,004
)
 
$
103,603

 
$
(192,401
)


The following tables presents the reclassifications out of accumulated other comprehensive income (loss):
 
 
 
Three Months Ended September 30,
 
 
 
 
2016
 
2015
 
 
Details about accumulated other 
comprehensive income (loss) components
 
Amount reclassified from accumulated other comprehensive income (loss)
 
Affected line item in the statement where net income is presented
Unrealized holding (gains) losses, net, arising on fixed maturities, available-for-sale
 
$
(8,465
)
 
$
(5,937
)
 
Other realized investment (gains) losses, net
 
 
(8,465
)
 
(5,937
)
 
Total before tax
 
 
(2,962
)
 
(2,078
)
 
Tax expense or benefit
 
 
$
(5,503
)
 
$
(3,859
)
 
Net of tax
 
 
 
 
 
 
 
Unrealized holding (gains) losses, net, arising on cash flow hedges
 
$
(2,911
)
 
$
(2,099
)
 
Net investment income
 
 
1,092

 
—

 
Interest Expense
 
 
(1,819
)
 
(2,099
)
 
Total before tax
 
 
(637
)
 
(735
)
 
Tax expense or benefit
 
 
$
(1,182
)
 
$
(1,364
)
 
Net of tax
 
 
 
 
 
 
 
Amortization of employee benefit plan items
 
 
 
 
 
 
Prior service (benefits)
 
$
(150
)
(1) 
$
(159
)
(1) 
 
Actuarial (gains)
 
2,644

(1) 
3,268

(1) 
 
 
 
2,494

 
3,109

 
Total before tax
 
 
873

 
1,088

 
Tax expense or benefit
 
 
$
1,621

 
$
2,021

 
Net of tax
 
 
 
 
 
 
 
Total reclassification
 
$
(5,064
)
 
$
(3,202
)
 
Net of tax

(1) These accumulated other comprehensive income components are included in the computation of net periodic (benefit) cost of employee benefit plans (see Note 10 for additional details).
 
 
Nine Months Ended September 30,
 
 
 
 
2016
 
2015
 
 
Details about accumulated other 
comprehensive income (loss) components
 
Amount reclassified from accumulated other comprehensive income (loss)
 
Affected line item in the statement where net income is presented
Unrealized holding (gains) losses, net, arising on fixed maturities, available-for-sale
 
$
(55,107
)
 
$
(37,063
)
 
Other realized investment (gains) losses, net
 
 
(55,107
)
 
(37,063
)
 
Total before tax
 
 
(19,287
)
 
(12,972
)
 
Tax expense or benefit
 
 
$
(35,820
)
 
$
(24,091
)
 
Net of tax
 
 
 
 
 
 
 
Unrealized holding (gains) losses, net, arising on cash flow hedges
 
$
(7,943
)
 
$
(6,448
)
 
Net investment income
 
 
1,675

 
—

 
Interest Expense
 
 
(6,268
)
 
(6,448
)
 
Total before tax
 
 
(2,194
)
 
(2,257
)
 
Tax expense or benefit
 
 
$
(4,074
)
 
$
(4,191
)
 
Net of tax
 
 
 
 
 
 
 
Amortization of employee benefit plan items
 
 
 
 
 
 
Prior service costs (benefits)
 
$
(452
)
(1) 
$
(520
)
(1) 
 
Actuarial losses (gains)
 
7,414

(1) 
9,497

(1) 
 
 
 
6,962

 
8,977

 
Total before tax
 
 
2,437

 
3,142

 
Tax expense or benefit
 
 
$
4,525

 
$
5,835

 
Net of tax
 
 
 
 
 
 
 
Total reclassification
 
$
(35,369
)
 
$
(22,447
)
 
Net of tax

(1) These accumulated other comprehensive income components are included in the computation of net periodic (benefit) cost of employee benefit plans (see Note 10 for additional details).