Segment and Geographical Information (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Summary of Assets and Profit or Loss by Segment

Notable information included in profit or loss by segment was as follows:

	Three months ended June 30,						Six months ended June 30,
	2020			2019			2020			2019
	(In thousands)
Revenues:
Term life insurance segment	$	328,233		$	296,868		$	655,979		$	593,712
Investment and savings products segment		164,181			173,086			349,213			335,756
Corporate and other distributed products segment		33,401			34,948			45,559			70,422
Total revenues	$	525,815		$	504,902		$	1,050,751		$	999,890
Net investment income:
Term life insurance segment	$	6,538		$	4,736		$	12,785		$	9,180
Investment and savings products segment		-			-			-			-
Corporate and other distributed products segment		16,172			20,132			25,345			39,800
Total net investment income	$	22,710		$	24,868		$	38,130		$	48,980
Amortization of DAC:
Term life insurance segment	$	52,730		$	56,179		$	118,571		$	120,245
Investment and savings products segment		100			2,101			4,405			2,578
Corporate and other distributed products segment		347			482			512			567
Total amortization of DAC	$	53,177		$	58,762		$	123,488		$	123,390
Non-cash share-based compensation expense:
Term life insurance segment	$	679		$	617		$	2,466		$	2,489
Investment and savings products segment		658			666			1,763			2,121
Corporate and other distributed products segment		1,020			820			9,289			8,377
Total non-cash share-based compensation expense	$	2,357		$	2,103		$	13,518		$	12,987
Income (loss) before income taxes:
Term life insurance segment	$	94,904		$	83,997		$	177,794		$	154,337
Investment and savings products segment		46,860			47,343			94,559			90,026
Corporate and other distributed products segment		(7,702	)		(3,880	)		(43,746	)		(14,535	)
Total income before income taxes	$	134,062		$	127,460		$	228,607		$	229,828

Total Assets by Segment

Total assets by segment were as follows:

	June 30, 2020		December 31, 2019
	(In thousands)
Assets:
Term life insurance segment	$	6,735,121	$	6,546,129
Investment and savings products segment (1)		2,493,939		2,598,493
Corporate and other distributed products segment		4,735,489		4,543,909
Total assets	$	13,964,549	$	13,688,531

_______________

⁽¹⁾ The Investment and Savings Products segment includes assets held in separate accounts. Excluding separate accounts, the Investment and Savings Products segment assets were $116.3 million and $112.8 million as of June 30, 2020 and December 31, 2019, respectively.

Long Lived Assets and Continuing Operations by Country

Geographical Information. Results of operations by country and long-lived assets, primarily tangible assets reported in other assets in our unaudited condensed consolidated balance sheets and condensed consolidated statements of income, were as follows:

	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
	(In thousands)
Revenues by country:
United States	$	452,864	$	430,093	$	895,999	$	850,086
Canada		72,951		74,809		154,752		149,804
Total revenues	$	525,815	$	504,902	$	1,050,751	$	999,890
Income before income taxes by country:
United States	$	109,153	$	106,723	$	182,099	$	187,457
Canada		24,909		20,737		46,508		42,371
Total income before income taxes	$	134,062	$	127,460	$	228,607	$	229,828

	June 30, 2020		December 31, 2019
	(In thousands)
Long-lived assets by country:
United States	$	43,871	$	41,200
Canada		4,463		4,916
Total long-lived assets	$	48,334	$	46,116