Income Tax (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

Pre-tax income for the years ended December 31, 2016, 2015 and 2014 consists of the following (dollars in thousands):



	2016		2015		2014
Pre-tax income - U.S.	$	758,496	$	493,328	$	768,857
Pre-tax income - foreign	285,450		251,467		239,676
Total pre-tax income	$	1,043,946	$	744,795	$	1,008,533

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision for income tax expense for the years ended December 31, 2016, 2015 and 2014 consists of the following (dollars in thousands):



	2016		2015			2014
Current income tax expense (benefit):
U.S.	$	1,020	$	1,588		$	18,495
Foreign	47,706		92,045			135,260
Total current	48,726		93,633			153,755
Deferred income tax expense (benefit):
U.S.	273,928		193,204			242,694
Foreign	19,849		(44,208		)	(71,963		)
Total deferred	293,777		148,996			170,731
Total provision for income taxes	$	342,503	$	242,629		$	324,486

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Provision for income tax expense differed from the amounts computed by applying the U.S. federal income tax statutory rate of 35% to pre-tax income as a result of the following for the years ended December 31, 2016, 2015 and 2014 (dollars in thousands):



	2016			2015			2014
Tax provision at U.S. statutory rate	$	365,381		$	260,678		$	352,987
Increase (decrease) in income taxes resulting from:
Foreign tax rate differing from U.S. tax rate	(13,974		)	(9,950		)	(12,483		)
Differences in tax basis in foreign jurisdictions	(17,770		)	(32,472		)	(8,256		)
Deferred tax valuation allowance	10,963			19,157			2,076
Amounts related to tax audit contingencies	111			88			(9,083		)
Corporate rate changes - other	—			—			280
Subpart F	1,783			3,473			6,132
Foreign tax credits	(1,683		)	(1,936		)	(1,045		)
Return to provision adjustments	(1,473		)	1,482			(8,123		)
Other, net	(835		)	2,109			2,001
Total provision for income taxes	$	342,503		$	242,629		$	324,486
Effective tax rate	32.8		%	32.6		%	32.2		%

Schedule Of Income Tax Expense Benefit Intraperiod Tax Allocation [Table Text Block]

Total income taxes for the years ended December 31, 2016, 2015 and 2014 were as follows (dollars in thousands):



	2016			2015			2014
Provision for income taxes	$	342,503		$	242,629		$	324,486
Income tax from OCI and additional paid-in-capital:
Net unrealized holding gain (loss) on debt and equity securities recognized for financial reporting purposes	157,929			(339,889		)	348,697
Exercise of stock options	(162		)	(2,963		)	3,011
Foreign currency translation	21,081			16,478			22,998
Unrealized pension and post retirement	1,772			1,726			(14,770		)
Total income taxes provided	$	523,123		$	(82,019	)	$	684,422

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The tax effects of temporary differences that give rise to significant portions of the deferred income tax asset and liabilities at December 31, 2016 and 2015, are presented in the following tables (dollars in thousands):



	2016			2015
Deferred income tax assets:
Nondeductible accruals	$	125,879		$	116,106
Differences between tax and financial reporting amounts concerning certain reinsurance transactions	87,688			63,543
Differences in the tax basis of cash and invested assets	775			5,931
Investment income differences	35,192			—
Deferred acquisition costs capitalized for tax	143,003			131,714
Net operating loss carryforward	325,806			524,501
Capital loss and tax credit carryforwards	101,223			77,888
Subtotal	819,566			919,683
Valuation allowance	(133,354		)	(127,132		)
Total deferred income tax assets	686,212			792,551
Deferred income tax liabilities:
Deferred acquisition costs capitalized for financial reporting	1,013,642			1,011,753
Differences between tax and financial reporting amounts concerning certain reinsurance transactions	1,773,929			1,509,211
Differences in the tax basis of cash and invested assets	505,841			336,870
Investment income differences	5,635			14,654
Differences in foreign currency translation	91,067			81,492
Prepaid expenses	—			1,014
Total deferred income tax liabilities	3,390,114			2,954,994
Net deferred income tax liabilities	$	2,703,902		$	2,162,443
Balance sheet presentation of net deferred income tax liabilities:
Included in other assets	$	66,738		$	55,885
Included in deferred income taxes	2,770,640			2,218,328
Net deferred income tax liabilities	$	2,703,902		$	2,162,443

Summary of Income Tax Contingencies [Table Text Block]

A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2016, 2015 and 2014, is as follows (dollars in thousands):



	Total Unrecognized Tax Benefits
	2016			2015			2014
Beginning balance, January 1	$	296,213		$	274,661		$	279,801
Additions for tax positions of prior years	226,720			26,170			17,431
Reductions for tax positions of prior years	(229,719		)	(7,820		)	(26,001		)
Additions for tax positions of current year	4,186			3,396			3,430
Settlements with tax authorities	(110		)	(194		)	—
Ending balance, December 31	$	297,290		$	296,213		$	274,661