Segment and Other Operating Information

6 Months Ended

Jun. 30, 2017

Segment Reporting [Abstract]

Segment and Other Operating Information

SEGMENT AND OTHER OPERATING INFORMATION

The Company defines its reportable operating segments as domestic life insurance, international life insurance, and annuities. These segments are organized based on product types and geographic marketing areas.  A summary of segment information as of June 30, 2017 and December 31, 2016 for the Condensed Consolidated Balance Sheet items and for the three and six months ended June 30, 2017 and June 30, 2016 for the Condensed Consolidated Statement of Earnings is provided below.

Condensed Consolidated Balance Sheet Items:

	June 30, 2017
	Domestic Life Insurance		International Life Insurance	Annuities	All Others	Totals
				(In thousands)
Deferred policy acquisition costs and sales inducements	$	93,029	231,433	624,430	—	948,892
Total segment assets	1,034,170		1,221,136	9,252,875	307,990	11,816,171
Future policy benefits	881,156		910,493	8,125,326	—	9,916,975
Other policyholder liabilities	13,104		12,973	120,175	—	146,252

	December 31, 2016
	Domestic Life Insurance		International Life Insurance	Annuities	All Others	Totals
				(In thousands)
Deferred policy acquisition costs and sales inducements	$	90,485	243,106	648,714	—	982,305
Total segment assets	971,990		1,232,648	9,193,980	298,481	11,697,099
Future policy benefits	830,460		919,380	8,109,255	—	9,859,095
Other policyholder liabilities	13,998		10,528	118,865	—	143,391

Condensed Consolidated Statement of Earnings:

	Three Months Ended June 30, 2017
	Domestic Life Insurance			International  Life Insurance	Annuities	All  Others	Totals
					(In thousands)
Premiums and contract revenues	$	9,066		29,710	6,054	—	44,830
Net investment income	15,023			14,251	105,474	7,864	142,612
Other revenues	6			21	38	4,472	4,537
Total revenues	24,095			43,982	111,566	12,336	191,979
Life and other policy benefits	5,448			4,677	7,729	—	17,854
Amortization of deferred policy acquisition costs	2,994			6,305	23,759	—	33,058
Universal life and annuity contract interest	11,210			11,377	59,583	—	82,170
Other operating expenses	5,157			7,207	9,814	4,165	26,343
Federal income taxes (benefit)	(242		)	4,928	3,656	2,790	11,132
Total expenses	24,567			34,494	104,541	6,955	170,557
Segment earnings (loss)	$	(472	)	9,488	7,025	5,381	21,422

	Six Months Ended June 30, 2017
	Domestic Life Insurance			International Life Insurance	Annuities	All Others	Totals
					(In thousands)
Premiums and contract revenues	$	17,915		61,210	11,290	—	90,415
Net investment income	34,613			32,870	231,908	14,963	314,354
Other revenues	19			47	64	8,912	9,042
Total revenues	52,547			94,127	243,262	23,875	413,811
Life and other policy benefits	10,367			10,962	16,282	—	37,611
Amortization of deferred acquisition costs	5,783			13,711	47,776	—	67,270
Universal life and annuity contract interest	27,457			27,759	136,847	—	192,063
Other operating expenses	9,889			13,185	19,874	8,487	51,435
Federal income taxes (benefit)	(321		)	9,652	7,612	5,209	22,152
Total expenses	53,175			75,269	228,391	13,696	370,531
Segment earnings (loss)	$	(628	)	18,858	14,871	10,179	43,280

	Three Months Ended June 30, 2016
	Domestic Life Insurance			International  Life Insurance		Annuities		All  Others	Totals
						(In thousands)
Premiums and contract revenues	$	8,648		31,437		6,280		—	46,365
Net investment income	9,584			10,593		86,556		6,518	113,251
Other revenues	6			4		(54	)	4,740	4,696
Total revenues	18,238			42,034		92,782		11,258	164,312
Life and other policy benefits	4,670			4,583		6,287		—	15,540
Amortization of deferred acquisition costs	3,309			(681	)	26,338		—	28,966
Universal life and annuity contract interest	7,217			2,673		52,909		—	62,799
Other operating expenses	3,323			5,650		5,927		4,503	19,403
Federal income taxes (benefit)	(86		)	10,402		444		2,367	13,127
Total expenses	18,433			22,627		91,905		6,870	139,835
Segment earnings (loss)	$	(195	)	19,407		877		4,388	24,477

	Six Months Ended June 30, 2016
	Domestic Life Insurance		International Life Insurance	Annuities	All Others	Totals
				(In thousands)
Premiums and contract revenues	$	16,307	64,225	12,016	—	92,548
Net investment income	15,717		17,440	164,195	11,399	208,751
Other revenues	30		40	6	9,498	9,574
Total revenues	32,054		81,705	176,217	20,897	310,873
Life and other policy benefits	8,291		9,751	13,099	—	31,141
Amortization of deferred acquisition costs	5,320		4,424	54,442	—	64,186
Universal life and annuity contract interest	11,060		8,356	92,400	—	111,816
Other operating expenses	6,898		11,176	15,517	9,119	42,710
Federal income taxes (benefit)	166		16,386	259	4,020	20,831
Total expenses	31,735		50,093	175,717	13,139	270,684
Segment earnings (loss)	$	319	31,612	500	7,758	40,189

Reconciliations of segment information to the Company's Condensed Consolidated Financial Statements are provided below.

	Three Months Ended June 30,			Six Months Ended June 30,
	2017		2016	2017	2016
	(In thousands)
Premiums and Other Revenues:
Premiums and contract revenues	$	44,830	46,365	90,415	92,548
Net investment income	142,612		113,251	314,354	208,751
Other revenues	4,537		4,696	9,042	9,574
Realized gains (losses) on investments	6,247		2,782	8,832	5,163
Total condensed consolidated premiums and other revenues	$	198,226	167,094	422,643	316,036

	Three Months Ended June 30,			Six Months Ended June 30,
	2017		2016	2017	2016
	(In thousands)
Federal Income Taxes:
Total segment Federal income taxes	$	11,132	13,127	22,152	20,831
Taxes on realized gains (losses) on investments	2,186		973	3,091	1,807
Total condensed consolidated Federal income taxes	$	13,318	14,100	25,243	22,638

	Three Months Ended June 30,			Six Months Ended June 30,
	2017		2016	2017	2016
	(In thousands)
Net Earnings:
Total segment earnings	$	21,422	24,477	43,280	40,189
Realized gains (losses) on investments, net of taxes	4,061		1,809	5,741	3,356
Total condensed consolidated net earnings	$	25,483	26,286	49,021	43,545

	June 30,		December 31,
	2017		2016
	(In thousands)
Assets:
Total segment assets	$	11,816,171	11,697,099
Other unallocated assets	205,091		197,882
Total condensed consolidated assets	$	12,021,262	11,894,981