Note 8 - Other Assets (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of Other Assets [Table Text Block]

The following table shows the components of other assets as of the dates indicated:



(In thousands)	September 30, 2019		December 31, 2018
Company-owned life insurance	$	103,877	$	83,377
Prepaid federal income taxes (Note 9)	89,200		—
Loaned securities (Note 5)	65,444		27,860
Internal-use software (1)	55,190		51,367
Right-of-use assets (2)	42,613		—
Property and equipment (3)	34,339		37,090
Accrued investment income	33,187		34,878
Unbilled receivables	25,110		19,917
Deferred policy acquisition costs	19,928		17,311
Reinsurance recoverables	16,906		14,402
Current federal income tax receivable (4)	—		44,506
Other	27,853		36,992
Total other assets	$	513,647	$	367,700

______________________

(1)

Internal-use software, at cost, has been reduced by accumulated amortization of $70.4 million and $60.3 million at September 30, 2019 and December 31, 2018, respectively, as well as $3.8 million of impairment charges in the nine months ended September 30, 2019, and $5.1 million of impairment charges in 2018. Amortization expense was $3.3 million and $2.9 million for the three-month periods ended September 30, 2019 and 2018, respectively, and $9.8 million and $8.6 million for the nine-month periods ended September 30, 2019 and 2018, respectively.


(2)	Represents right-of-use assets recognized as a result of our adoption, as of January 1, 2019, of the new accounting and disclosure requirements for leases of property, plant and equipment. See Note 1 for additional information. Right-of-use assets are shown less accumulated amortization of $6.8 million at September 30, 2019.


(3)	Property and equipment at cost, less accumulated depreciation of $68.5 million and $62.9 million at September 30, 2019 and December 31, 2018, respectively. Depreciation expense was $1.9 million and $2.1 million for the three-month periods ended September 30, 2019 and 2018, respectively, and $5.9 million for both the nine-month periods ended September 30, 2019 and 2018.

(4)

During the nine months ended September 30, 2019, current federal income tax receivable was reduced by our receipt of the remaining $57.2 million refund from amounts on deposit with the IRS related to the settlement of the IRS Matter.