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Deferred Policy Acquisition Costs and Value of Business Acquired
 9 Months Ended
Sep. 30, 2017
Deferred Policy Acquisition Costs and Value of Business Acquired [Abstract]  
Deferred Policy Acquisition Costs and Value of Business Acquired
Deferred Policy Acquisition Costs and Value of Business Acquired

The following tables present a rollforward of DAC and VOBA for the periods indicated:

 
2017
 
DAC
 
VOBA
 
Total
Balance as of January 1, 2017
$
476.4

 
$
537.4

 
$
1,013.8

Deferrals of commissions and expenses
55.7

 
3.6

 
59.3

Amortization:
 
 
 
 
 
Amortization, excluding unlocking
(56.9
)
 
(68.1
)
 
(125.0
)
Unlocking (1)
(59.8
)
 
(96.7
)
 
(156.5
)
Interest accrued
27.9

 
33.7

(2) 
61.6

Net amortization included in the Condensed Consolidated Statements of Operations
(88.8
)
 
(131.1
)
 
(219.9
)
Change due to unrealized capital gains/losses on available-for-sale securities
(67.8
)
 
(67.2
)
 
(135.0
)
Balance as of September 30, 2017
$
375.5

 
$
342.7

 
$
718.2


 
2016
 
DAC
 
VOBA
 
Total
Balance as of January 1, 2016
$
520.4

 
$
708.7

 
$
1,229.1

Deferrals of commissions and expenses
56.5

 
4.1

 
60.6

Amortization:
 
 
 
 
 
Amortization, excluding unlocking
(55.5
)
 
(53.8
)
 
(109.3
)
Unlocking (1)
(16.3
)
 
(61.4
)
 
(77.7
)
Interest accrued
31.1

 
39.6

(2) 
70.7

Net amortization included in the Condensed Consolidated Statements of Operations
(40.7
)
 
(75.6
)
 
(116.3
)
Change due to unrealized capital gains/losses on available-for-sale securities
(185.9
)
 
(262.3
)
 
(448.2
)
Balance as of September 30, 2016
$
350.3

 
$
374.9

 
$
725.2


(1) DAC/VOBA unlocking includes the impacts of annual review of assumptions which typically occurs in the third quarter; and retrospective and prospective unlocking. The 2017 amounts include unfavorable unlocking for DAC and VOBA of $79.6 and $140.2, respectively, associated with consent acceptances received from customers and expected future acceptances of customer consents to changes related to guaranteed minimum interest rate provisions of certain retirement plan contracts with fixed investment options.
(2) Interest accrued at the following rates for VOBA: 5.5% to 7.0% during 2017 and 2016.