XML 39 R31.htm IDEA: XBRL DOCUMENT v2.4.1.9
Revision of Previously Reported Financial Statements - Statement of Income and Comprehensive Income (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
REVENUES:    
Premiums $ 3.0us-gaap_PremiumsEarnedNet $ 2.8us-gaap_PremiumsEarnedNet
Insurance and investment product fees 89.9us-gaap_FeesAndCommissions 89.0us-gaap_FeesAndCommissions
Net investment income 47.1us-gaap_NetInvestmentIncome 40.0us-gaap_NetInvestmentIncome
Net realized gains (losses):    
Total other-than-temporary impairment (“OTTI”) losses (0.1)us-gaap_ImpairmentOfInvestments 0us-gaap_ImpairmentOfInvestments
Portion of losses recognized in OCI (0.1)us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent 0us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
Net OTTI losses recognized in earnings (0.2)us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet 0us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
Net realized gains (losses), excluding impairment losses (8.6)us-gaap_RealizedGainLossOnMarketableSecuritiesAndCostMethodInvestmentsExcludingOtherThanTemporaryImpairmentsAndOtherInvestments (35.1)us-gaap_RealizedGainLossOnMarketableSecuritiesAndCostMethodInvestmentsExcludingOtherThanTemporaryImpairmentsAndOtherInvestments
Net realized gains (losses) (8.8)us-gaap_RealizedInvestmentGainsLosses (35.1)us-gaap_RealizedInvestmentGainsLosses
Total revenues 131.2us-gaap_Revenues 96.7us-gaap_Revenues
BENEFITS AND EXPENSES:    
Policy benefits 99.7us-gaap_PolicyholderBenefitsAndClaimsIncurredNet 72.1us-gaap_PolicyholderBenefitsAndClaimsIncurredNet
Policy acquisition cost amortization 15.5us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense 16.7us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense
Other operating expenses 65.4us-gaap_OperatingExpenses 23.5us-gaap_OperatingExpenses
Total benefits and expenses 180.6us-gaap_BenefitsLossesAndExpenses 112.3us-gaap_BenefitsLossesAndExpenses
Income (loss) before income taxes (49.4)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments (15.6)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax expense (benefit) 2.8us-gaap_IncomeTaxExpenseBenefit (0.4)us-gaap_IncomeTaxExpenseBenefit
Net income (loss) (52.2)us-gaap_NetIncomeLoss (15.2)us-gaap_NetIncomeLoss
COMPREHENSIVE INCOME (LOSS):    
Net income (loss) (52.2)us-gaap_NetIncomeLoss (15.2)us-gaap_NetIncomeLoss
Other comprehensive income (loss) before income taxes:    
Unrealized investment gains (losses), net of related offsets 1.7us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax 13.0us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
Less: Income tax expense (benefit) related to:    
Unrealized investment gains (losses), net of related offsets 3.0phlvic_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesTaxBenefit 14.4phlvic_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesTaxBenefit
Other comprehensive income (loss), net of income taxes (1.3)us-gaap_OtherComprehensiveIncomeLossNetOfTax (1.4)us-gaap_OtherComprehensiveIncomeLossNetOfTax
Comprehensive income (loss) (53.5)us-gaap_ComprehensiveIncomeNetOfTax (16.6)us-gaap_ComprehensiveIncomeNetOfTax
As reported    
REVENUES:    
Premiums   2.8us-gaap_PremiumsEarnedNet
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= us-gaap_ScenarioPreviouslyReportedMember
Insurance and investment product fees   88.8us-gaap_FeesAndCommissions
/ us-gaap_StatementScenarioAxis
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Net investment income   40.0us-gaap_NetInvestmentIncome
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Net realized gains (losses):    
Total other-than-temporary impairment (“OTTI”) losses   0us-gaap_ImpairmentOfInvestments
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Portion of losses recognized in OCI   0us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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Net OTTI losses recognized in earnings   0us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
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Net realized gains (losses), excluding impairment losses   (33.9)us-gaap_RealizedGainLossOnMarketableSecuritiesAndCostMethodInvestmentsExcludingOtherThanTemporaryImpairmentsAndOtherInvestments
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Net realized gains (losses)   (33.9)us-gaap_RealizedInvestmentGainsLosses
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Total revenues   97.7us-gaap_Revenues
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BENEFITS AND EXPENSES:    
Policy benefits   76.1us-gaap_PolicyholderBenefitsAndClaimsIncurredNet
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Policy acquisition cost amortization   16.3us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense
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Other operating expenses   24.0us-gaap_OperatingExpenses
/ us-gaap_StatementScenarioAxis
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Total benefits and expenses   116.4us-gaap_BenefitsLossesAndExpenses
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Income (loss) before income taxes   (18.7)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
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Income tax expense (benefit)   (1.9)us-gaap_IncomeTaxExpenseBenefit
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Net income (loss)   (16.8)us-gaap_NetIncomeLoss
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COMPREHENSIVE INCOME (LOSS):    
Net income (loss)   (16.8)us-gaap_NetIncomeLoss
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Other comprehensive income (loss) before income taxes:    
Unrealized investment gains (losses), net of related offsets   11.1us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
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Less: Income tax expense (benefit) related to:    
Unrealized investment gains (losses), net of related offsets   14.0phlvic_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesTaxBenefit
/ us-gaap_StatementScenarioAxis
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Other comprehensive income (loss), net of income taxes   (2.9)us-gaap_OtherComprehensiveIncomeLossNetOfTax
/ us-gaap_StatementScenarioAxis
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Comprehensive income (loss)   (19.7)us-gaap_ComprehensiveIncomeNetOfTax
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Correction of errors    
Net realized gains (losses):    
Net realized gains (losses)   (1.2)us-gaap_RealizedInvestmentGainsLosses
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BENEFITS AND EXPENSES:    
Policy acquisition cost amortization   0.4us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense
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Net income (loss)   1.6us-gaap_NetIncomeLoss
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COMPREHENSIVE INCOME (LOSS):    
Net income (loss)   1.6us-gaap_NetIncomeLoss
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UL unlock | Correction of errors    
REVENUES:    
Premiums   0us-gaap_PremiumsEarnedNet
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Insurance and investment product fees   0us-gaap_FeesAndCommissions
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Net investment income   0us-gaap_NetInvestmentIncome
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Net realized gains (losses):    
Total other-than-temporary impairment (“OTTI”) losses   0us-gaap_ImpairmentOfInvestments
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Portion of losses recognized in OCI   0us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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Net OTTI losses recognized in earnings   0us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
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Net realized gains (losses), excluding impairment losses   0us-gaap_RealizedGainLossOnMarketableSecuritiesAndCostMethodInvestmentsExcludingOtherThanTemporaryImpairmentsAndOtherInvestments
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Net realized gains (losses)   0us-gaap_RealizedInvestmentGainsLosses
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Total revenues   0us-gaap_Revenues
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BENEFITS AND EXPENSES:    
Policy benefits   (0.2)us-gaap_PolicyholderBenefitsAndClaimsIncurredNet
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Policy acquisition cost amortization   0.1us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense
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Other operating expenses   0us-gaap_OperatingExpenses
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Total benefits and expenses   (0.1)us-gaap_BenefitsLossesAndExpenses
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Income (loss) before income taxes   0.1us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
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Income tax expense (benefit)   0us-gaap_IncomeTaxExpenseBenefit
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Net income (loss)   0.1us-gaap_NetIncomeLoss
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COMPREHENSIVE INCOME (LOSS):    
Net income (loss)   0.1us-gaap_NetIncomeLoss
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Other comprehensive income (loss) before income taxes:    
Unrealized investment gains (losses), net of related offsets   0.3us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
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Less: Income tax expense (benefit) related to:    
Unrealized investment gains (losses), net of related offsets   0phlvic_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesTaxBenefit
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Other comprehensive income (loss), net of income taxes   0.3us-gaap_OtherComprehensiveIncomeLossNetOfTax
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Comprehensive income (loss)   0.4us-gaap_ComprehensiveIncomeNetOfTax
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Other adjustments | Correction of errors    
REVENUES:    
Premiums   0us-gaap_PremiumsEarnedNet
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Insurance and investment product fees   0.2us-gaap_FeesAndCommissions
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Net investment income   0us-gaap_NetInvestmentIncome
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Net realized gains (losses):    
Total other-than-temporary impairment (“OTTI”) losses   0us-gaap_ImpairmentOfInvestments
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Portion of losses recognized in OCI   0us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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Net OTTI losses recognized in earnings   0us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
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Net realized gains (losses), excluding impairment losses   (1.2)us-gaap_RealizedGainLossOnMarketableSecuritiesAndCostMethodInvestmentsExcludingOtherThanTemporaryImpairmentsAndOtherInvestments
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Net realized gains (losses)   (1.2)us-gaap_RealizedInvestmentGainsLosses
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Total revenues   (1.0)us-gaap_Revenues
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BENEFITS AND EXPENSES:    
Policy benefits   (3.8)us-gaap_PolicyholderBenefitsAndClaimsIncurredNet
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Policy acquisition cost amortization   0.3us-gaap_DeferredPolicyAcquisitionCostAmortizationExpense
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Other operating expenses   (0.5)us-gaap_OperatingExpenses
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Total benefits and expenses   (4.0)us-gaap_BenefitsLossesAndExpenses
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Income (loss) before income taxes   3.0us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
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Income tax expense (benefit)   1.5us-gaap_IncomeTaxExpenseBenefit
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Net income (loss)   1.5us-gaap_NetIncomeLoss
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COMPREHENSIVE INCOME (LOSS):    
Net income (loss)   1.5us-gaap_NetIncomeLoss
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Other comprehensive income (loss) before income taxes:    
Unrealized investment gains (losses), net of related offsets   1.6us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
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Less: Income tax expense (benefit) related to:    
Unrealized investment gains (losses), net of related offsets   0.4phlvic_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesTaxBenefit
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Other comprehensive income (loss), net of income taxes   1.2us-gaap_OtherComprehensiveIncomeLossNetOfTax
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Comprehensive income (loss)   $ 2.7us-gaap_ComprehensiveIncomeNetOfTax
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