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Revision to Prior Year Information (Tables)
 12 Months Ended
Dec. 31, 2016
Prior Period Adjustment [Abstract]  
Schedule of Error Corrections and Prior Period Adjustments
The following are selected line items from the consolidated financial statements illustrating the effects of these revisions:

Consolidated Statements of Financial Position

 
December 31, 2015
 
As Previously Reported
 
Revision
 
As Revised
 
(in thousands)
ASSETS
 
 
 
 
 
Deferred policy acquisition costs
$
5,111,373

 
$
18,558

 
$
5,129,931

Reinsurance recoverables
22,546,361

 
145,130

 
22,691,491

TOTAL ASSETS
148,643,945

 
163,688

 
148,807,633

LIABILITIES AND EQUITY
 
 
 
 
 
LIABILITIES
 
 
 
 
 
Policyholders’ account balances
$
17,164,705

 
$
40,119

 
$
17,204,824

Future policy benefits
15,031,390

 
167,365

 
15,198,755

Income taxes
154,043

 
(15,404
)
 
138,639

TOTAL LIABILITIES
144,133,128

 
192,080

 
144,325,208

EQUITY
 
 
 
 
 
Retained earnings
3,663,539

 
(28,392
)
 
3,635,147

TOTAL EQUITY
4,510,817

 
(28,392
)
 
4,482,425

TOTAL LIABILITIES AND EQUITY
148,643,945

 
163,688

 
148,807,633


Consolidated Statements of Operations and Comprehensive Income (Loss)

 
Year Ended December 31, 2015
 
Year Ended December 31, 2014
 
As Previously Reported
 
Revision
 
As Revised
 
As Previously Reported
 
Revision
 
As Revised
 
(in thousands)
REVENUES
 
 
 
 
 
 
 
 
 
 
 
Policy charges and fee income
$
2,159,428

 
$
(3,041
)
 
$
2,156,387

 
$
2,074,852

 
$
(3,813
)
 
$
2,071,039

TOTAL REVENUES
2,862,947

 
(3,041
)
 
2,859,906

 
3,094,097

 
(3,813
)
 
3,090,284

BENEFITS AND EXPENSES
 
 
 
 
 
 
 
 
 
 
 
Policyholders' benefits
291,185

 
7,965

 
299,150

 
343,714

 
9,983

 
353,697

Amortization of deferred policy acquisition costs
662,644

 
(3,475
)
 
659,169

 
436,169

 
(4,357
)
 
431,812

TOTAL BENEFITS AND EXPENSES
2,358,054

 
4,490

 
2,362,544

 
2,167,921

 
5,626

 
2,173,547

INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES
504,893

 
(7,531
)
 
497,362

 
926,176

 
(9,439
)
 
916,737

Income tax expense (benefit)
(8,005
)
 
(2,636
)
 
(10,641
)
 
140,373

 
(3,304
)
 
137,069

NET INCOME (LOSS)
512,898

 
(4,895
)
 
508,003

 
785,803

 
(6,135
)
 
779,668

COMPREHENSIVE INCOME (LOSS)
399,012

 
(4,895
)
 
394,117

 
907,848

 
(6,135
)
 
901,713


 
(UNAUDITED)
 
Three Months Ended March 31, 2016
 
As Previously Reported
 
Revision
 
As Revised
 
(in thousands)
REVENUES
 
 
 
 
 
Policy charges and fee income
$
527,407

 
$
(845
)
 
$
526,562

TOTAL REVENUES
792,238

 
(845
)
 
791,393

BENEFITS AND EXPENSES
 
 
 
 
 
Policyholders' benefits
98,528

 
2,202

 
100,730

Amortization of deferred policy acquisition costs
640,552

 
(966
)
 
639,586

TOTAL BENEFITS AND EXPENSES
1,162,464

 
1,236

 
1,163,700

INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES
(370,226
)
 
(2,081
)
 
(372,307
)
Income tax expense (benefit)
(44,095
)
 
(13
)
 
(44,108
)
NET INCOME (LOSS)
(326,131
)
 
(2,068
)
 
(328,199
)
COMPREHENSIVE INCOME (LOSS)
(210,804
)
 
(2,068
)
 
(212,872
)

 
(UNAUDITED)
 
Three Months Ended June 30, 2016
 
Six Months Ended June 30, 2016
 
As Previously Reported
 
Revision
 
As Revised
 
As Previously Reported
 
Revision
 
As Revised
 
(in thousands)
REVENUES
 
 
 
 
 
 
 
 
 
 
 
Policy charges and fee income
$
41,848

 
$
17,083

 
$
58,931

 
$
569,255

 
$
16,238

 
$
585,493

TOTAL REVENUES
123,842

 
17,083

 
140,925

 
916,080

 
16,238

 
932,318

BENEFITS AND EXPENSES
 
 
 
 
 
 
 
 
 
 
 
Policyholders' benefits
(430,437
)
 
(42,173
)
 
(472,610
)
 
(331,909
)
 
(39,971
)
 
(371,880
)
Amortization of deferred policy acquisition costs
(29,866
)
 
19,524

 
(10,342
)
 
610,687

 
18,558

 
629,245

TOTAL BENEFITS AND EXPENSES
(565,465
)
 
(22,649
)
 
(588,114
)
 
596,999

 
(21,413
)
 
575,586

INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES
689,307

 
39,732

 
729,039

 
319,081

 
37,651

 
356,732

Income tax expense (benefit)
(5,499
)
 
10,554

 
5,055

 
(49,594
)
 
10,541

 
(39,053
)
NET INCOME (LOSS)
694,806

 
29,178

 
723,984

 
368,675

 
27,110

 
395,785

COMPREHENSIVE INCOME (LOSS)
755,691

 
29,178

 
784,869

 
544,886

 
27,110

 
571,996


Consolidated Statements of Equity

 
Retained Earnings
 
Total Equity
 
As Previously Reported
 
Revision
 
As Revised
 
As Previously Reported
 
Revision
 
As Revised
 
(in thousands)
Balance, December 31, 2013
$
3,542,838

 
$
(17,362
)
 
$
3,525,476

 
$
4,406,221

 
$
(17,362
)
 
$
4,388,859

Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
785,803

 
(6,135
)
 
779,668

 
785,803

 
(6,135
)
 
779,668

Total comprehensive income (loss)
 
 
 
 
 
 
907,848

 
(6,135
)
 
901,713

Balance, December 31, 2014
3,580,641

 
(23,497
)
 
3,557,144

 
4,553,985

 
(23,497
)
 
4,530,488

Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
512,898

 
(4,895
)
 
508,003

 
512,898

 
(4,895
)
 
508,003

Total comprehensive income (loss)
 
 
 
 
 
 
399,012

 
(4,895
)
 
394,117

Balance, December 31, 2015
3,663,539

 
(28,392
)
 
3,635,147

 
4,510,817

 
(28,392
)
 
4,482,425


 
(UNAUDITED)
 
Retained Earnings
 
Total Equity
 
As Previously Reported
 
Revision
 
As Revised
 
As Previously Reported
 
Revision
 
As Revised
 
(in thousands)
Balance, December 31, 2015
$
3,663,539

 
$
(28,392
)
 
$
3,635,147

 
$
4,510,817

 
$
(28,392
)
 
$
4,482,425

Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
(326,131
)
 
(2,068
)
 
(328,199
)
 
(326,131
)
 
(2,068
)
 
(328,199
)
Total comprehensive income (loss)
 
 
 
 
 
 
(210,804
)
 
(2,068
)
 
(212,872
)
Balance, March 31, 2016
3,337,408

 
(30,460
)
 
3,306,948

 
4,304,953

 
(30,460
)
 
4,274,493


 
(UNAUDITED)
 
Retained Earnings
 
Total Equity
 
As Previously Reported
 
Revision
 
As Revised
 
As Previously Reported
 
Revision
 
As Revised
 
(in thousands)
Balance, December 31, 2015
$
3,663,539

 
$
(28,392
)
 
$
3,635,147

 
$
4,510,817

 
$
(28,392
)
 
$
4,482,425

Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
368,675

 
27,110

 
395,785

 
368,675

 
27,110

 
395,785

Total comprehensive income (loss)
 
 
 
 
 
 
544,886

 
27,110

 
571,996

Balance, June 30, 2016
1,438,695

 
(1,282
)
 
1,437,413

 
2,668,274

 
(1,282
)
 
2,666,992


Consolidated Statements of Cash Flows

 
Year Ended December 31, 2015
 
Year Ended December 31, 2014
 
As Previously Reported
 
Revision
 
As Revised
 
As Previously Reported
 
Revision
 
As Revised
 
(in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
512,898

 
$
(4,895
)
 
$
508,003

 
$
785,803

 
$
(6,135
)
 
$
779,668

Policy charges and fee income
(11,811
)
 
3,041

 
(8,770
)
 
(76,188
)
 
3,813

 
(72,375
)
Future policy benefits
1,503,445

 
30,783

 
1,534,228

 
1,402,458

 
38,084

 
1,440,542

Reinsurance recoverables
(1,536,347
)
 
(22,818
)
 
(1,559,165
)
 
(1,302,695
)
 
(28,101
)
 
(1,330,796
)
Deferred policy acquisition costs
46,643

 
(3,475
)
 
43,168

 
(190,550
)
 
(4,357
)
 
(194,907
)
Income taxes
(34,243
)
 
(2,636
)
 
(36,879
)
 
69,204

 
(3,304
)
 
65,900

Cash flows from (used in) operating activities
1,142,929

 
0

 
1,142,929

 
1,077,692

 
0

 
1,077,692


 
(UNAUDITED)
 
Three Months Ended March 31, 2016
 
As Previously Reported
 
Revision
 
As Revised
 
(in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
 
 
 
 
 
Net income (loss)
$
(326,131
)
 
$
(2,068
)
 
$
(328,199
)
Policy charges and fee income
(5,850
)
 
845

 
(5,005
)
Future policy benefits
416,396

 
8,508

 
424,904

Reinsurance recoverables
(353,572
)
 
(6,306
)
 
(359,878
)
Deferred policy acquisition costs
489,279

 
(966
)
 
488,313

Income taxes
(125,565
)
 
(13
)
 
(125,578
)
Cash flows from (used in) operating activities
333,424

 
0

 
333,424


 
(UNAUDITED)
 
Six Months Ended June 30, 2016
 
As Previously Reported
 
Revision
 
As Revised
 
(in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
 
 
 
 
 
Net income (loss)
$
368,675

 
$
27,110

 
$
395,785

Policy charges and fee income
78,763

 
(16,238
)
 
62,525

Future policy benefits
659,730

 
(154,908
)
 
504,822

Reinsurance recoverables
(326,993
)
 
1,434

 
(325,559
)
Deferred policy acquisition costs
408,155

 
18,558

 
426,713

Income taxes
(78,531
)
 
10,541

 
(67,990
)
Other, net
(181,862
)
 
(78,333
)
 
(260,195
)
Cash flows from (used in) operating activities
5,386

 
(191,836
)
 
(186,450
)
CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
Proceeds from the sale/maturity/prepayment of:
 
 
 
 
 
Fixed maturities, available-for-sale
798,298

 
40,000

 
838,298

Cash flows from (used in) investing activities
(537,625
)
 
40,000

 
(497,625
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
Ceded policyholders’ account deposits
(584,464
)
 
(539,144
)
 
(1,123,608
)
Ceded policyholders’ account withdrawals
32,053

 
490,659

 
522,712

Contributed capital
205,000

 
200,321

 
405,321

Cash flows from (used in) financing activities
488,765

 
151,836

 
640,601


 
(UNAUDITED)
 
Nine Months Ended September 30, 2016
 
As Previously Reported
 
Revision
 
As Revised
 
(in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
 
 
 
 
 
Policy charges and fee income
$
103,829

 
$
(16,238
)
 
$
87,591

Reinsurance recoverables
(1,369,986
)
 
61,840

 
(1,308,146
)
Other, net
19,979

 
(211,545
)
 
(191,566
)
Cash flows from (used in) operating activities
(43,926
)
 
(165,943
)
 
(209,869
)
CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
Proceeds from the sale/maturity/prepayment of:
 
 
 
 
 
Fixed maturities, available-for-sale
930,834

 
40,000

 
970,834

Cash flows from (used in) investing activities
(795,911
)
 
40,000

 
(755,911
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
Policyholders' account deposits
3,085,729

 
40,119

 
3,125,848

Ceded policyholders’ account deposits
(877,874
)
 
(810,163
)
 
(1,688,037
)
Ceded policyholders’ account withdrawals
49,958

 
695,666

 
745,624

Contributed capital
205,000

 
200,321

 
405,321

Cash flows from (used in) financing activities
548,328

 
125,943

 
674,271