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AOCI (Tables)
 9 Months Ended
Sep. 30, 2018
Equity [Abstract]  
Accumulated Other Comprehensive Income

The changes in AOCI by component for the three and nine months ended September 30, 2018 and 2017 were as follows:

 

 

 

Three Months Ended September 30, 2018

 

 

 

Unrealized Holding

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gains (Losses) on

 

 

Unrealized Holding

 

 

OCI Adjustments for

 

 

Total Accumulated

 

 

 

AFS Securities and

 

 

Gains (Losses) on

 

 

Policyholder liabilities,

 

 

Other Comprehensive

 

 

 

Cash Equivalents

 

 

Cash Flow Hedges

 

 

VOBA, and Deferred Tax

 

 

Income (Loss)

 

Beginning balance

 

$

 

60,272

 

 

$

 

(650

)

 

$

 

(39,030

)

 

$

 

20,592

 

OCI before reclassifications

 

 

 

(8,277

)

 

 

 

66

 

 

 

 

6,319

 

 

 

 

(1,892

)

Gain (loss) amounts

reclassified from AOCI

 

 

 

(1,212

)

 

 

 

165

 

 

 

 

-

 

 

 

 

(1,047

)

Net current period OCI

 

$

 

(9,489

)

 

$

 

231

 

 

$

 

6,319

 

 

$

 

(2,939

)

Tax expense (benefit)

 

 

 

-

 

 

 

 

-

 

 

 

 

-

 

 

 

 

-

 

Total other comprehensive

   income (loss), net of taxes

 

 

 

(9,489

)

 

 

 

231

 

 

 

 

6,319

 

 

 

 

(2,939

)

Ending balance, net of taxes

 

$

 

50,783

 

 

$

 

(419

)

 

$

 

(32,711

)

 

$

 

17,653

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2018

 

 

 

Unrealized Holding

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gains (Losses) on

 

 

Unrealized Holding

 

 

OCI Adjustments for

 

 

Total Accumulated

 

 

 

AFS Securities and

 

 

Gains (Losses) on

 

 

Policyholder liabilities,

 

 

Other Comprehensive

 

 

 

Cash Equivalents

 

 

Cash Flow Hedges

 

 

VOBA, and Deferred Tax

 

 

Income (Loss)

 

Beginning balance

 

$

 

133,532

 

 

$

 

(931

)

 

$

 

(52,102

)

 

$

 

80,499

 

        Cumulative effect

        adjustment (a)

 

 

 

(3,023

)

 

 

 

-

 

 

 

 

-

 

 

 

 

(3,023

)

Adjusted balance at beginning of period

 

 

 

130,509

 

 

 

 

(931

)

 

 

 

(52,102

)

 

 

 

77,476

 

OCI before reclassifications

 

 

 

(66,154

)

 

 

 

(1,050

)

 

 

 

19,391

 

 

 

 

(47,813

)

Gain (loss) amounts

reclassified from AOCI

 

 

 

(13,572

)

 

 

 

1,562

 

 

 

 

-

 

 

 

 

(12,010

)

Net current period OCI

 

$

 

(79,726

)

 

$

 

512

 

 

$

 

19,391

 

 

$

 

(59,823

)

Tax expense (benefit)

 

 

 

-

 

 

 

 

-

 

 

 

 

-

 

 

 

 

-

 

Total other comprehensive

   income (loss), net of taxes

 

 

 

(79,726

)

 

 

 

512

 

 

 

 

19,391

 

 

 

 

(59,823

)

Ending balance, net of taxes

 

$

 

50,783

 

 

$

 

(419

)

 

$

 

(32,711

)

 

$

 

17,653

 

 

 

(a)

See Notes to Financial Statements – Note 1, Summary of Significant Accounting Policies, Current Accounting Guidance, for discussion on the adjustment relating to ASU 2016-01.

 

 

Three Months Ended September 30, 2017

 

 

 

Unrealized Holding

 

 

Unrealized Holding

 

 

OCI Adjustments for

 

 

Total Accumulated

 

 

 

Gains (Losses) on

 

 

Gains (Losses) on

 

 

Policyholder liabilities,

 

 

Other Comprehensive

 

 

 

AFS Securities

 

 

Cash Flow Hedges

 

 

VOBA, and Deferred Tax

 

 

Income (Loss)

 

Beginning balance

 

$

 

129,575

 

 

$

 

2,086

 

 

$

 

(51,922

)

 

$

 

79,739

 

OCI before reclassifications

 

 

 

1,999

 

 

 

 

(1,803

)

 

 

 

(780

)

 

 

 

(584

)

Gain (loss) amounts

reclassified from AOCI

 

 

 

-

 

 

 

 

63

 

 

 

 

-

 

 

 

 

63

 

Net current period OCI

 

$

 

1,999

 

 

$

 

(1,740

)

 

$

 

(780

)

 

$

 

(521

)

Tax expense (benefit)

 

 

 

-

 

 

 

 

-

 

 

 

 

-

 

 

 

 

-

 

Total other comprehensive

   income (loss), net of taxes

 

 

 

1,999

 

 

 

 

(1,740

)

 

 

 

(780

)

 

 

 

(521

)

Ending balance, net of taxes

 

$

 

131,574

 

 

$

 

346

 

 

$

 

(52,702

)

 

$

 

79,218

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2017

 

 

 

Unrealized Holding

 

 

Unrealized Holding

 

 

OCI Adjustments for

 

 

Total Accumulated

 

 

 

Gains (Losses) on

 

 

Gains (Losses) on

 

 

Policyholder liabilities,

 

 

Other Comprehensive

 

 

 

AFS Securities

 

 

Cash Flow Hedges

 

 

VOBA, and Deferred Tax

 

 

Income (Loss)

 

Beginning balance

 

$

 

104,538

 

 

$

 

(1,225

)

 

$

 

(47,963

)

 

$

 

55,350

 

OCI before reclassifications

 

 

 

27,115

 

 

 

 

888

 

 

 

 

(4,739

)

 

 

 

23,264

 

Gain (loss) amounts

reclassified from AOCI

 

 

 

(79

)

 

 

 

683

 

 

 

 

-

 

 

 

 

604

 

Net current period OCI

 

$

 

27,036

 

 

$

 

1,571

 

 

$

 

(4,739

)

 

$

 

23,868

 

Tax expense (benefit)

 

 

 

-

 

 

 

 

-

 

 

 

 

-

 

 

 

 

-

 

Total other comprehensive

   income (loss), net of taxes

 

 

 

27,036

 

 

 

 

1,571

 

 

 

 

(4,739

)

 

 

 

23,868

 

Ending balance, net of taxes

 

$

 

131,574

 

 

$

 

346

 

 

$

 

(52,702

)

 

$

 

79,218

 

 

 
Reclassifications out of AOCI

The reclassifications out of AOCI for the three and nine months ended September 30, 2018 and 2017 were as follows:

 

 

 

Three Months Ended September 30, 2018

 

 

Nine Months Ended September 30, 2018

 

 

 

AOCI Components

 

Amount Reclassified from AOCI

 

 

Amount Reclassified from AOCI

 

 

Affected Line Item in the Statement Where Net Income is Presented

Unrealized holding (gains)

   losses on AFS securities

 

 

 

 

 

 

 

 

 

 

 

 

AFS securities

 

$

 

(1,212

)

 

$

 

(13,572

)

 

Net realized investment gains (losses)

 

 

$

 

(1,212

)

 

$

 

(13,572

)

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding (gains)

   losses on cash flow hedges

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

 

$

 

165

 

 

$

 

1,562

 

 

Net investment income (loss)

 

 

$

 

165

 

 

$

 

1,562

 

 

Total

Total amounts reclassified from AOCI

 

$

 

(1,047

)

 

$

 

(12,010

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 2017

 

 

Nine Months Ended September 30, 2017

 

 

 

AOCI Components

 

Amount Reclassified from AOCI

 

 

Amount Reclassified from AOCI

 

 

Affected Line Item in the Statement Where Net Income is Presented

Unrealized holding (gains)

   losses on AFS securities

 

 

 

 

 

 

 

 

 

 

 

 

AFS securities

 

$

 

-

 

 

$

 

(79

)

 

Net realized investment gains (losses)

 

 

$

 

-

 

 

$

 

(79

)

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding (gains)

   losses on cash flow hedges

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

 

$

 

63

 

 

$

 

683

 

 

Net investment income (loss)

 

 

$

 

63

 

 

$

 

683

 

 

Total

Total amounts reclassified from AOCI

 

$

 

63

 

 

$

 

604