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Equity
 12 Months Ended
Dec. 31, 2017
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Comprehensive Income
EQUITY
Common stock
The changes in number of common stock shares, issued, held in treasury and outstanding are as follows for the periods indicated:
 
 
Issued
 
Held In Treasury
 
Outstanding
Balance, December 31, 2014
 
79,137,758

 
10,364,797

 
68,772,961

Common Stock acquired
 
—

 
4,145,440

 
(4,145,440
)
Stock-based compensation (1)
 
—

 
(577,005
)
 
577,005

Balance, December 31, 2015
 
79,137,758

 
13,933,232

 
65,204,526

Common Stock acquired
 
—

 
1,356,892

 
(1,356,892
)
Stock-based compensation (1)
 
—

 
(454,868
)
 
454,868

Balance, December 31, 2016
 
79,137,758

 
14,835,256

 
64,302,502

Common Stock acquired
 
—

 
208,680

 
(208,680
)
Stock-based compensation (1)
 
—

 
(358,273
)
 
358,273

Balance, December 31, 2017
 
79,137,758

 
14,685,663

 
64,452,095

(1)
Represents net shares issued from treasury pursuant to the Company’s stock-based compensation programs.
Common stock held in treasury
Common stock held in treasury is accounted for at average cost. Gains resulting from the reissuance of “Common stock held in treasury” are credited to “Additional paid-in capital.” Losses resulting from the reissuance of “Common stock held in treasury” are charged first to “Additional paid-in capital” to the extent the Company has previously recorded gains on treasury share transactions, then to “Retained earnings.”
During 2015, RGA’s board of directors authorized and amended a share repurchase program, with no expiration date, to repurchase up to $450.0 million of RGA’s outstanding common stock. In connection with this authorization, the board of directors terminated the stock repurchase authority granted in 2014. During 2015, RGA repurchased 4,145,440 shares of common stock under this program for $375.3 million.
During 2016, RGA’s board of directors authorized and amended a share repurchase program, with no expiration date, to repurchase up to $400.0 million of RGA’s outstanding common stock. In connection with this authorization, the board of directors terminated the stock repurchase authority granted in 2015. During 2016, RGA repurchased 1,356,892 shares of common stock under this program for $116.5 million.
During 2017, RGA’s board of directors authorized and amended a share repurchase program, with no expiration date, to repurchase up to $400.0 million of RGA’s outstanding common stock. In connection with this authorization, the board of directors terminated the stock repurchase authority granted in 2016. During 2017, RGA repurchased 208,680 shares of common stock under this program for $26.9 million.
Accumulated other comprehensive income (loss)
The following table presents the components of the Company’s other comprehensive income (loss) for the years ended December 31, 2017, 2016 and 2015 (dollars in thousands):
For the year ended December 31, 2017:
 
 
Before-Tax Amount
 
Tax (Expense) Benefit
 
After-Tax Amount
Foreign currency translation adjustments:
 
 
 
 
 
 
Change arising during year
 
$
74,926

 
$
25,369

 
$
100,295

Foreign currency swap
 
(47,953
)
 
16,784

 
(31,169
)
Net foreign currency translation adjustments
 
26,973

 
42,153

 
69,126

Unrealized gains on investments:(1)
 
 
 
 
 
 
Unrealized net holding gains arising during the year
 
1,029,591

 
(313,729
)
 
715,862

Less: Reclassification adjustment for net gains realized in net income
 
25,039

 
(7,011
)
 
18,028

Net unrealized gains
 
1,004,552

 
(306,718
)
 
697,834

Change in unrealized OTTI on fixed maturity securities
 
375

 
(131
)
 
244

Unrealized pension and postretirement benefits:
 
 
 
 
 
 
Net prior service cost arising during the year
 
11,717

 
(4,095
)
 
7,622

Net gain arising during the period
 
(10,587
)
 
3,691

 
(6,896
)
Unrealized pension and postretirement benefits, net
 
1,130

 
(404
)
 
726

Other comprehensive income (loss)
 
$
1,033,030

 
$
(265,100
)
 
$
767,930

For the year ended December 31, 2016:
 
 
Before-Tax Amount
 
Tax (Expense) Benefit
 
After-Tax Amount
Foreign currency translation adjustments:
 
 
 
 
 
 
Change arising during year
 
$
39,925

 
$
(24,663
)
 
$
15,262

Foreign currency swap
 
(10,234
)
 
3,582

 
(6,652
)
Net foreign currency translation adjustments
 
29,691

 
(21,081
)
 
8,610

Unrealized gains on investments:(1)
 
 
 
 
 
 
Unrealized net holding gains arising during the year
 
641,606

 
(180,448
)
 
461,158

Less: Reclassification adjustment for net gains realized in net income
 
65,798

 
(23,029
)
 
42,769

Net unrealized gains
 
575,808

 
(157,419
)
 
418,389

Change in unrealized OTTI on fixed maturity securities
 
1,457

 
(510
)
 
947

Unrealized pension and postretirement benefits:
 
 
 
 
 
 
Net prior service cost arising during the year
 
444

 
(149
)
 
295

Net gain arising during the period
 
4,427

 
(1,623
)
 
2,804

Unrealized pension and postretirement benefits, net
 
4,871

 
(1,772
)
 
3,099

Other comprehensive income (loss)
 
$
611,827

 
$
(180,782
)
 
$
431,045

For the year ended December 31, 2015:
 
 
 
 
 
 
 
 
Before-Tax Amount
 
Tax (Expense) Benefit
 
After-Tax Amount
Foreign currency translation adjustments:
 
 
 
 
 
 
Change arising during year
 
$
(342,539
)
 
$
17,129

 
$
(325,410
)
Foreign currency swap
 
96,019

 
(33,607
)
 
62,412

Net foreign currency translation adjustments
 
(246,520
)
 
(16,478
)
 
(262,998
)
Unrealized losses on investments:(1)
 
 
 
 
 
 
Unrealized net holding losses arising during the year
 
(1,084,732
)
 
359,407

 
(725,325
)
Less: Reclassification adjustment for net losses realized in net income
 
(55,767
)
 
19,518

 
(36,249
)
Net unrealized losses
 
(1,028,965
)
 
339,889

 
(689,076
)
Unrealized pension and postretirement benefits:
 
 
 
 
 
 
Net prior service cost arising during the year
 
337

 
(107
)
 
230

Net loss arising during the period
 
4,618

 
(1,619
)
 
2,999

Unrealized pension and postretirement benefits, net
 
4,955

 
(1,726
)
 
3,229

Other comprehensive income (loss)
 
$
(1,270,530
)
 
$
321,685

 
$
(948,845
)
(1)
Includes cash flow hedges. See Note 5 for additional information on cash flow hedges.
A summary of the components of net unrealized appreciation (depreciation) of balances carried at fair value is as follows (dollars in thousands):
For the years ended December 31,
 
2017
 
2016
 
2015
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 
 
Fixed maturity securities available-for-sale
 
$
987,570

 
$
561,906

 
$
(1,055,458
)
Other investments(1)
 
25,577

 
18,900

 
8,983

Effect on unrealized appreciation on:
 
 
 
 
 
 
Deferred policy acquisition costs
 
(8,220
)
 
(3,541
)
 
17,510

Net unrealized appreciation (depreciation)
 
$
1,004,927

 
$
577,265

 
$
(1,028,965
)
(1)
Includes cash flow hedges. See Note 5 for additional information on cash flow hedges.
The balance of and changes in each component of AOCI were as follows (dollars in thousands):
 
 
 
Accumulated
Currency
Translation
Adjustments
 
Unrealized Appreciation (Depreciation) of Investments (1)
 
Pension and
Postretirement
Benefits
 
Accumulated
Other
Comprehensive
Income (Loss)
Balance, December 31, 2014
 
$
81,847

 
$
1,624,773

 
$
(49,491
)
 
$
1,657,129

OCI before reclassifications
 
(246,520
)
 
(1,101,760
)
 
(1,248
)
 
(1,349,528
)
Amounts reclassified from AOCI
 
—

 
72,795

 
6,203

 
78,998

Deferred income tax benefit (expense)
 
(16,478
)
 
339,889

 
(1,726
)
 
321,685

Balance, December 31, 2015
 
(181,151
)
 
935,697


(46,262
)
 
708,284

OCI before reclassifications
 
29,691

 
646,887

 
(951
)
 
675,627

Amounts reclassified from AOCI
 
—

 
(69,622
)
 
5,822

 
(63,800
)
Deferred income tax benefit (expense)
 
(21,081
)
 
(157,929
)
 
(1,772
)
 
(180,782
)
Balance, December 31, 2016
 
(172,541
)
 
1,355,033

 
(43,163
)
 
1,139,329

OCI before reclassifications
 
26,973

 
1,039,387

 
(4,273
)
 
1,062,087

Amounts reclassified from AOCI
 
—

 
(34,460
)
 
5,403

 
(29,057
)
Deferred income tax benefit (expense)
 
42,153

 
(306,849
)
 
(404
)
 
(265,100
)
Adoption of new accounting standard
 
17,065

 
147,550

 
(8,243
)
 
156,372

Balance, December 31, 2017
 
$
(86,350
)
 
$
2,200,661

 
$
(50,680
)
 
$
2,063,631

(1)
Includes cash flow hedges of $2,619, $(2,496) and $(29,397) as of December 31, 2017, 2016 and 2015, respectively. See Note 5 for additional information on cash flow hedges.
The following table presents the amounts of AOCI reclassifications for the years ended December 31, 2017 and 2016 (dollars in thousands):
 
 
Amount Reclassified from AOCI
 
 
Details about AOCI Components
 
2017
 
2016
 
Affected Line Item in 
Statement of Income
Net unrealized investment gains (losses):
 
 
 
 
 
 
Net unrealized gains and losses on available-for-sale securities
 
$
25,039

 
$
65,798

 
Investment related gains (losses), net
OTTI on fixed maturity securities
 
—

 
74

 
Investment related gains (losses), net
Cash flow hedges - Interest rate
 
(79
)
 
—

 
(1)
Cash flow hedges - Currency/Interest rate
 
380

 
510

 
(1)
Cash flow hedges - Forward bond purchase commitments
 
900

 
(301
)
 
(1)
Deferred policy acquisition costs attributed to unrealized gains and losses
 
8,220

 
3,541

 
(2)
Total
 
34,460

 
69,622

 
 
Provision for income taxes
 
(10,308
)
 
(17,672
)
 
 
Net unrealized gains (losses), net of tax
 
$
24,152

 
$
51,950

 
 
 
 
 
 
 
 
 
Amortization of defined benefit plan items:
 
 
 
 
 
 
Prior service cost (credit)
 
$
971

 
$
328

 
(3)
Actuarial gains/(losses)
 
(6,374
)
 
(6,150
)
 
(3)
Total
 
(5,403
)
 
(5,822
)
 
 
Provision for income taxes
 
1,891

 
2,038

 
 
Amortization of defined benefit plans, net of tax
 
$
(3,512
)
 
$
(3,784
)
 
 
 
 
 
 
 
 
 
Total reclassifications for the period
 
$
20,640

 
$
48,166

 
 
(1)
See Note 5 for information on cash flow hedges.
(2)
See Note 8 for information on deferred policy acquisition costs.
(3)
See Note 10 for information on employee benefit plans.