Federal Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Total Federal income taxes were allocated as follows:

	Years Ended December 31,
	2018			2017		2016
	(In thousands)
Taxes (benefits) on earnings from continuing operations:
Current	$	(1,697	)	74,361		41,544
Deferred	26,446			(23,129	)	10,426
Remeasurement of deferred taxes due to Tax Act	—			(17,098	)	—
Taxes on earnings	24,749			34,134		51,970
Taxes (benefits) on components of stockholders' equity:
Net unrealized gains and losses on securities available for sale	(15,870		)	2,736		5,382
Foreign currency translation adjustments	360			(5	)	(88	)
Change in benefit plan liability	3,003			(2,085	)	(62	)
Total Federal income taxes (benefit)	$	12,242		34,780		57,202

Schedule of Income Tax Reconciliation

These differences and the corresponding tax effects are as follows:

	Years Ended December 31,
	2018			2017		2016
	(In thousands)
Income tax expense at statutory rate (21% in 2018 and 35% in 2017 and 2016)	$	29,716		50,594		53,502
Dividend received deduction	(820		)	(1,099	)	(850	)
Tax exempt interest	(1,416		)	(2,276	)	(2,193	)
Non deductible salary expense	54			—		—
Adjustments pertaining to prior tax years	(3,071		)	895		1,076
Nondeductible insurance	96			160		160
Nondeductible expenses	198			178		588
Remeasurement of deferred taxes due to Tax Act	—			(17,098	)	—
Excess premium liability	—			2,870		—
Other, net	(8		)	(90	)	(313	)
Taxes on earnings from continuing operations	$	24,749		34,134		51,970

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2018 and 2017 are presented below.

	December 31,
	2018			2017
	(In thousands)
Deferred tax assets:
Future policy benefits, excess of financial accounting liabilities over tax liabilities	$	189,100		162,424
Investment securities write-downs for financial accounting purposes	311			196
Benefit plan liabilities	7,444			10,355
Real estate, principally due to adjustments for financial accounting purposes	16			—
Accrued operating expenses recorded for financial accounting purposes not currently tax deductible	4,426			6,222
Tax reform reserve adjustment	—			83,935
Accrued and unearned investment income recognized for tax purposes and deferred for financial accounting purposes	109			265
Net unrealized losses on debt securities available for sale	7,390			—
Other	74			94
Total gross deferred tax assets	208,870			263,491
Deferred tax liabilities:
Deferred policy acquisition and sales inducement costs, principally expensed for tax purposes	(170,940		)	(180,780	)
Tax reform reserve adjustment	(61,170		)	(83,935	)
Debt securities, principally due to deferred market discount for tax	(7,370		)	(7,526	)
Real estate, principally due to adjustments for financial accounting purposes	—			(5	)
Net unrealized gains on securities available for sale	—			(8,945	)
Foreign currency translation adjustments	(1,217		)	(857	)
Fixed assets, due to different depreciation bases	(7,546		)	(6,853	)
Other	(11		)	2
Total gross deferred tax liabilities	(248,254		)	(288,899	)
Net deferred tax liabilities	$	(39,384	)	(25,408	)