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Business and Basis of Presentation (Summary Of Adoption Of New Guidance On Unaudited Interim Consolidated Statement of Operations) (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
REVENUES                
Premiums $ 85,140     $ 61,716 [1]     $ 251,761 $ 185,545 [1]
Policy charges and fee income 346,481     369,946 [1]     1,096,508 857,881 [1]
Other income (loss) (63,555)     (161,407) [1]     286,750 (795,129) [1]
Realized Investment gains (losses), net (468,256)     97,271 [1]     (581,241) 810,771 [2]
Change in value of market risk benefits, net of related hedging gain (loss) (247,471)     (80,078) [1]     (266,156) (1,235,415) [2]
TOTAL REVENUES 169,957     566,764     2,168,755 625,419
BENEFITS AND EXPENSES                
Policyholders' benefits 145,409     87,685 [1]     397,552 367,543 [1]
Interest credited to policyholders’ account balances 163,074     97,649 [1]     467,112 318,586 [1]
Amortization of deferred policy acquisition costs 132,242     128,420 [1]     398,884 384,384 [1]
General, administrative and other expenses 271,473     243,205 [1]     858,809 795,922 [1]
TOTAL BENEFITS AND EXPENSES 718,763     554,024     2,123,387 1,909,300
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 548,806     (12,740)     (45,368) 1,283,881
Income tax expense (benefit) (104,883)     (7,660) [1]     (8,318) (350,214) [1]
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE (443,923)     20,400     53,686 (933,667)
NET INCOME (LOSS) (444,327) $ 217,598 $ 279,679 20,147 $ (547,018) $ (482,207) 52,950 (1,009,078) [2]
Other comprehensive income (loss), before tax:                
Net unrealized investment gains (losses) (618,892)     (790,108) [1]     (500,018) (2,608,049) [1]
Interest rate remeasurement of future policy benefits 90,909     97,171 [1]     73,321 346,865 [1]
Gain (loss) from changes in non-performance risk on market risk benefits (429,966)     (3,233) [1]     (497,289) 1,786,353 [1]
Total (960,784)     (699,819)     (923,555) (486,350)
Less: Income tax expense (benefit) related to other comprehensive income (loss) (201,437)     (146,711) [1]     (194,021) (100,893) [1]
Other Comprehensive Income (Loss), Net of Tax (759,347) $ (386,891) $ 416,704 (553,108) $ 101,092 $ 66,559 (729,534) (385,457)
Comprehensive income (loss) $ (1,203,674)     (532,961)     $ (676,584) (1,394,535)
As Previously Reported                
REVENUES                
Premiums       63,354       195,020
Policy charges and fee income       438,781       1,256,155
Other income (loss)       (163,701)       (803,321)
Realized Investment gains (losses), net       23,958       1,522,774
Change in value of market risk benefits, net of related hedging gain (loss)       0       0
TOTAL REVENUES       641,708       2,972,394
BENEFITS AND EXPENSES                
Policyholders' benefits       122,139       500,009
Change in estimates of liability of future policy benefits       0       0
Interest credited to policyholders’ account balances       105,170       391,640
Amortization of deferred policy acquisition costs       96,048       731,768
General, administrative and other expenses       241,370       795,514
TOTAL BENEFITS AND EXPENSES       564,727       2,418,931
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF OPERATING JOINT VENTURE       (76,981)       (553,463)
Income tax expense (benefit)       (1,983)       69,090
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE       78,964       484,373
NET INCOME (LOSS)       78,711       408,962
Other comprehensive income (loss), before tax:                
Net unrealized investment gains (losses)       (862,220)       (2,775,879)
Interest rate remeasurement of future policy benefits       0       0
Gain (loss) from changes in non-performance risk on market risk benefits       0       0
Total       (865,869)       (2,787,398)
Less: Income tax expense (benefit) related to other comprehensive income (loss)       (181,602)       (584,114)
Other Comprehensive Income (Loss), Net of Tax       (684,267)       (2,203,284)
Comprehensive income (loss)       (605,556)       (1,794,322)
Change of Effect                
REVENUES                
Premiums       (1,638)       (9,475)
Policy charges and fee income       (68,835)       (398,274)
Other income (loss)       2,294       8,192
Realized Investment gains (losses), net       73,313       (712,003)
Change in value of market risk benefits, net of related hedging gain (loss)       (80,078)       (1,235,415)
TOTAL REVENUES       (74,944)       (2,346,975)
BENEFITS AND EXPENSES                
Policyholders' benefits       (34,454)       (132,466)
Change in estimates of liability of future policy benefits       (2,935)       42,865
Interest credited to policyholders’ account balances       (7,521)       (73,054)
Amortization of deferred policy acquisition costs       32,372       (347,384)
General, administrative and other expenses       1,835       408
TOTAL BENEFITS AND EXPENSES       (10,703)       (509,631)
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF OPERATING JOINT VENTURE       64,241       1,837,344
Income tax expense (benefit)       (5,677)       (419,304)
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE       (58,564)       (1,418,040)
NET INCOME (LOSS)       (58,564)       (1,418,040)
Other comprehensive income (loss), before tax:                
Net unrealized investment gains (losses)       72,112       167,830
Interest rate remeasurement of future policy benefits       97,171       346,865
Gain (loss) from changes in non-performance risk on market risk benefits       (3,233)       1,786,353
Total       166,050       2,301,048
Less: Income tax expense (benefit) related to other comprehensive income (loss)       34,891       483,221
Other Comprehensive Income (Loss), Net of Tax       131,159       1,817,827
Comprehensive income (loss)       72,595       399,787
Out of period adjustment                
BENEFITS AND EXPENSES                
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF OPERATING JOINT VENTURE       $ 73,000       $ 72,000
[1] Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.
[2] Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.