XML 45 R33.htm IDEA: XBRL DOCUMENT v3.8.0.1
Equity (Tables)
 12 Months Ended
Dec. 31, 2017
Equity [Abstract]  
Components of Accumulated Other Comprehensive Income (Loss)
The balance of and changes in each component of “Accumulated other comprehensive income (loss)” for the years ended December 31, were as follows:
 
 
Accumulated Other Comprehensive Income (Loss)
 
 
Foreign Currency
Translation
Adjustment
 
Net Unrealized
Investment Gains
(Losses)(1)
 
Total Accumulated
Other
Comprehensive
Income (Loss)
 
 
(in thousands)
Balance, December 31, 2014
 
$
(67
)
 
$
178,758

 
$
178,691

Change in OCI before reclassifications
 
(507
)
 
(164,799
)
 
(165,306
)
Amounts reclassified from AOCI
 
0

 
(9,902
)
 
(9,902
)
Income tax benefit (expense)
 
177

 
61,145

 
61,322

Balance, December 31, 2015
 
$
(397
)
 
$
65,202

 
$
64,805

Change in OCI before reclassifications
 
(8
)
 
74,040

 
74,032

Amounts reclassified from AOCI
 
0

 
(64,540
)
 
(64,540
)
Income tax benefit (expense)
 
3

 
(3,325
)
 
(3,322
)
Balance, December 31, 2016
 
$
(402
)
 
$
71,377

 
$
70,975

Change in OCI before reclassifications
 
259

 
164,482

 
164,741

Amounts reclassified from AOCI
 
0

 
(26,998
)
 
(26,998
)
Income tax benefit (expense)
 
(91
)
 
(43,281
)
 
(43,372
)
Balance, December 31, 2017
 
$
(234
)
 
$
165,580

 
$
165,346

(1)
Includes cash flow hedges of $(18) million, $41 million, and $48 million as of December 31, 2017, 2016 and 2015, respectively.
Reclassification out of Accumulated Other Comprehensive Income (Loss)
Reclassifications out of Accumulated Other Comprehensive Income (Loss) 
 
 
Year Ended
December 31, 2017
 
Year Ended
December 31, 2016
 
Year Ended
December 31, 2015
 
 
(in thousands)
Amounts reclassified from AOCI (1)(2):
 
 
 
 
 
 
Net unrealized investment gains (losses):
 
 
 
 
 
 
Cash flow hedges—Currency/Interest rate(3)
 
$
(1,103
)
 
$
7,915

 
$
4,286

Net unrealized investment gains (losses) on available-for-sale securities(4)
 
28,101

 
56,625

 
5,616

Total net unrealized investment gains (losses)
 
26,998

 
64,540

 
9,902

Total reclassifications for the period
 
$
26,998

 
$
64,540

 
$
9,902

(1)
All amounts are shown before tax.
(2)
Positive amounts indicate gains/benefits reclassified out of AOCI. Negative amounts indicate losses/costs reclassified out of AOCI.
(3)
See Note 10 for additional information on cash flow hedges.
(4)
See table below for additional information on unrealized investment gains (losses), including the impact on deferred policy acquisition and other costs, future policy benefits and policyholders’ account balances.
Net Unrealized Investment Gains (Losses) AOCI Rollforward
The amounts for the periods indicated below, split between amounts related to fixed maturity securities on which an OTTI loss has been recognized, and all other net unrealized investment gains (losses), are as follows:
Net Unrealized Investment Gains (Losses) on Fixed Maturity Securities on which an OTTI loss has been recognized 
 
 
Net Unrealized
Gains (Losses)
on Investments
 
Deferred
Policy
Acquisition
Costs, Reinsurance Recoverable and
Other Costs
 
Future Policy
Benefits, Policyholders' Account Balances and Reinsurance Payables
 
Deferred
Income Tax
(Liability)
Benefit
 
Accumulated
Other
Comprehensive
Income (Loss)
Related To Net
Unrealized
Investment
Gains (Losses)
 
 
(in thousands)
Balance, December 31, 2014(2)
 
$
5,333

 
$
(2,709
)
 
$
1,399

 
$
(1,440
)
 
$
2,583

Net investment gains (losses) on investments arising during the period
 
107

 
0

 
0

 
(37
)
 
70

Reclassification adjustment for (gains) losses included in net income
 
(251
)
 
0

 
0

 
88

 
(163
)
Reclassification adjustment for OTTI losses excluded from net income(1)
 
7

 
0

 
0

 
(2
)
 
5

Impact of net unrealized investment (gains) losses on deferred policy acquisition costs, reinsurance recoverable and deferred sales inducements(2)
 
0

 
1,404

 
0

 
(492
)
 
912

Impact of net unrealized investment (gains) losses on future policy benefits and policyholders' account balances(2)
 
0

 
0

 
(330
)
 
116

 
(214
)
Balance, December 31, 2015(2)
 
$
5,196

 
$
(1,305
)
 
$
1,069

 
$
(1,767
)
 
$
3,193

Net investment gains (losses) on investments arising during the period
 
1,238

 
0

 
0

 
(433
)
 
805

Reclassification adjustment for (gains) losses included in net income
 
(1,107
)
 
0

 
0

 
387

 
(720
)
Reclassification adjustment for OTTI losses excluded from net income(1)
 
(444
)
 
0

 
0

 
155

 
(289
)
Impact of net unrealized investment (gains) losses on deferred policy acquisition costs, reinsurance recoverable and other costs(2)
 
0

 
393

 
0

 
(138
)
 
255

Impact of net unrealized investment (gains) losses on future policy benefits and policyholders' account balances(2)
 
0

 
0

 
(437
)
 
153

 
(284
)
Balance, December 31, 2016(2)
 
$
4,883

 
$
(912
)
 
$
632

 
$
(1,643
)
 
$
2,960

Net investment gains (losses) on investments arising during the period
 
375

 
0

 
0

 
(119
)
 
256

Reclassification adjustment for (gains) losses included in net income
 
(3,699
)
 
0

 
0

 
1,171

 
(2,528
)
Reclassification adjustment for OTTI losses excluded from net income(1)
 
50

 
0

 
0

 
(16
)
 
34

Impact of net unrealized investment (gains) losses on deferred policy acquisition costs, reinsurance recoverable and other costs
 
0

 
813

 
0

 
(289
)
 
524

Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and reinsurance payables
 
0

 
0

 
(610
)
 
214

 
(396
)
Balance, December 31, 2017
 
$
1,609

 
$
(99
)
 
$
22

 
$
(682
)
 
$
850

(1)
Represents "transfers in" related to the portion of OTTI losses recognized during the period that were not recognized in earnings for securities with no prior OTTI loss.
(2)
Prior periods have been reclassified to conform to the current period presentation.
All Other Net Unrealized Investment Gains (Losses) in AOCI Rollforward
All Other Net Unrealized Investment Gains (Losses) in AOCI 
 
 
Net Unrealized
Gains (Losses)
on
Investments(2)
 
Deferred
Policy
Acquisition
Costs, Reinsurance Recoverable  and
Other Costs
 
Future Policy
Benefits, Policyholders' Account Balances and Reinsurance Payables
 
Deferred
Income Tax
(Liability)
Benefit
 
Accumulated
Other
Comprehensive
Income (Loss)
Related To Net
Unrealized
Investment
Gains (Losses)
 
 
(in thousands)
Balance, December 31, 2014(3)
 
$
344,577

 
$
(256,260
)
 
$
182,553

 
$
(94,695
)
 
$
176,175

Net investment gains (losses) on investments arising during the period
 
(223,082
)
 
0

 
0

 
78,078

 
(145,004
)
Reclassification adjustment for (gains) losses included in net income
 
(9,651
)
 
0

 
0

 
3,378

 
(6,273
)
Reclassification adjustment for OTTI losses excluded from net income(1)
 
(7
)
 
0

 
0

 
2

 
(5
)
Impact of net unrealized investment (gains) losses on deferred policy acquisition costs, reinsurance recoverable and deferred sales inducements(3)
 
0

 
159,640

 
0

 
(55,874
)
 
103,766

Impact of net unrealized investment (gains) losses on future policy benefits and policyholders' account balances(3)
 
0

 
0

 
(102,538
)
 
35,888

 
(66,650
)
Balance, December 31, 2015(3)
 
$
111,837

 
$
(96,620
)
 
$
80,015

 
$
(33,223
)
 
$
62,009

Net investment gains (losses) on investments arising during the period
 
(70,379
)
 
0

 
0

 
24,633

 
(45,746
)
Reclassification adjustment for (gains) losses included in net income
 
65,647

 
0

 
0

 
(22,976
)
 
42,671

Reclassification adjustment for OTTI losses excluded from net income(1)
 
444

 
0

 
0

 
(155
)
 
289

Impact of net unrealized investment (gains) losses on deferred policy acquisition costs, reinsurance recoverable and other costs(3)
 
0

 
(132
)
 
0

 
46

 
(86
)
Impact of net unrealized investment (gains) losses on future policy benefits and policyholders' account balances(3)

 
0

 
0

 
14,276

 
(4,996
)
 
9,280

Balance, December 31, 2016(3)
 
$
107,549

 
$
(96,752
)
 
$
94,291

 
$
(36,671
)
 
$
68,417

Net investment gains (losses) on investments arising during the period
 
134,613

 
0

 
0

 
(42,628
)
 
91,985

Reclassification adjustment for (gains) losses included in net income
 
30,697

 
0

 
0

 
(9,721
)
 
20,976

Reclassification adjustment for OTTI losses excluded from net income(1)
 
(50
)
 
0

 
0

 
16

 
(34
)
Impact of net unrealized investment (gains) losses on deferred policy acquisition costs, reinsurance recoverable and other costs
 
0

 
98,584

 
0

 
(35,060
)
 
63,524

Impact of net unrealized investment (gains) losses on future policy benefits, policyholders' account balances and reinsurance payables
 
0

 
0

 
(123,289
)
 
43,151

 
(80,138
)
Balance, December 31, 2017
 
$
272,809

 
$
1,832

 
$
(28,998
)
 
$
(80,913
)
 
$
164,730

(1)
Represents "transfers out" related to the portion of OTTI losses recognized during the period that were not recognized in earnings for securities with no prior OTTI loss.
(2)
Includes cash flow hedges. See Note 10 for information on cash flow hedges.
(3)
Prior periods have been reclassified to conform to the current period presentation.