Segment and Other Operating Information (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Summary of segment information, by quarter

A summary of segment information as of September 30, 2019 and December 31, 2018 for the Condensed Consolidated Balance Sheet items and for the three and nine months ended September 30, 2019 and September 30, 2018 for the Condensed Consolidated Statement of Earnings is provided below.

Condensed Consolidated Balance Sheet Items:

	September 30, 2019
	Domestic Life Insurance		International Life Insurance	Annuities	Acquired Businesses	All Others	Totals
	(In thousands)
Deferred policy acquisition costs, sales inducements, and value of business acquired	$	123,348	217,307	501,745	142,751	—	985,151
Total segment assets	1,330,245		1,166,237	8,324,924	970,890	374,254	12,166,550
Future policy benefits	1,144,243		874,980	7,442,615	700,888	—	10,162,726
Other policyholder liabilities	16,811		13,512	85,290	14,102	—	129,715

	December 31, 2018
	Domestic Life Insurance		International Life Insurance	Annuities	Acquired Businesses	All Others	Totals
	(In thousands)
Deferred policy acquisition costs and sales inducements	$	122,661	243,518	609,239	—	—	975,418
Total segment assets	1,215,864		1,211,036	8,791,463	—	370,118	11,588,481
Future policy benefits	1,039,150		894,891	7,810,245	—	—	9,744,286
Other policyholder liabilities	17,439		20,381	97,874	—	—	135,694

Condensed Consolidated Statement of Earnings:

	Three Months Ended September 30, 2019
	Domestic Life Insurance			International  Life Insurance		Annuities	Acquired Businesses	All  Others	Totals
	(In thousands)
Premiums and contract revenues	$	11,387		25,065		5,336	20,151	—	61,939
Net investment income	12,885			6,872		78,000	6,300	4,399	108,456
Other revenues	49			25		8	2,318	873	3,273
Total revenues	24,321			31,962		83,344	28,769	5,272	173,668
Life and other policy benefits	6,099			5,074		12,550	16,195	—	39,918
Amortization of deferred policy acquisition costs and value of business acquired	2,181			(3,047	)	21,688	2,176	—	22,998
Universal life and annuity contract interest	11,267			14,637		33,541	—	—	59,445
Other operating expenses	5,297			5,493		8,596	4,772	1,655	25,813
Federal income taxes (benefit)	(107		)	1,970		1,388	1,133	725	5,109
Total expenses	24,737			24,127		77,763	24,276	2,380	153,283
Segment earnings (loss)	$	(416	)	7,835		5,581	4,493	2,892	20,385

	Nine Months Ended September 30, 2019
	Domestic Life Insurance		International Life Insurance	Annuities	Acquired Businesses	All Others	Totals
	(In thousands)
Premiums and contract revenues	$	32,897	74,905	16,061	54,332	—	178,195
Net investment income	51,379		30,165	270,727	16,283	19,657	388,211
Other revenues	113		79	80	6,049	7,331	13,652
Total revenues	84,389		105,149	286,868	76,664	26,988	580,058
Life and other policy benefits	13,850		10,195	33,856	43,863	—	101,764
Amortization of deferred policy acquisition costs and value of business acquired	8,898		11,195	60,150	6,330	—	86,573
Universal life and annuity contract interest	45,693		33,967	120,840	—	—	200,500
Other operating expenses	14,437		14,278	25,478	12,348	10,655	77,196
Federal income taxes (benefit)	306		7,192	9,426	2,836	3,307	23,067
Total expenses	83,184		76,827	249,750	65,377	13,962	489,100
Segment earnings (loss)	$	1,205	28,322	37,118	11,287	13,026	90,958

	Three Months Ended September 30, 2018
	Domestic Life Insurance		International  Life Insurance		Annuities		Acquired Businesses	All  Others	Totals
	(In thousands)
Premiums and contract revenues	$	10,060	26,839		5,597		—	—	42,496
Net investment income	26,912		19,731		123,525		—	5,385	175,553
Other revenues	11		5		11		—	5,084	5,111
Total revenues	36,983		46,575		129,133		—	10,469	223,160
Life and other policy benefits	5,839		6,609		(6,704	)	—	—	5,744
Amortization of deferred acquisition costs	2,978		6,307		17,490		—	—	26,775
Universal life and annuity contract interest	22,355		30,596		71,194		—	—	124,145
Other operating expenses	5,215		4,982		8,719		—	5,121	24,037
Federal income taxes (benefit)	122		(322	)	7,714		—	1,101	8,615
Total expenses	36,509		48,172		98,413		—	6,222	189,316
Segment earnings (loss)	$	474	(1,597	)	30,720		—	4,247	33,844

	Nine Months Ended September 30, 2018
	Domestic Life Insurance		International Life Insurance	Annuities	Acquired Businesses	All Others	Totals
	(In thousands)
Premiums and contract revenues	$	29,775	82,218	18,042	—	—	130,035
Net investment income	41,131		32,305	263,983	—	20,681	358,100
Other revenues	12		39	48	—	15,297	15,396
Total revenues	70,918		114,562	282,073	—	35,978	503,531
Life and other policy benefits	15,751		16,872	11,984	—	—	44,607
Amortization of deferred acquisition costs	8,362		21,023	60,688	—	—	90,073
Universal life and annuity contract interest	29,401		37,046	116,869	—	—	183,316
Other operating expenses	15,368		15,991	25,741	—	15,367	72,467
Federal income taxes (benefit)	405		4,701	13,290	—	4,100	22,496
Total expenses	69,287		95,633	228,572	—	19,467	412,959
Segment earnings (loss)	$	1,631	18,929	53,501	—	16,511	90,572

Reconciliation of segment premiums and other revenues to condensed consolidated financial statements

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019			2018	2019	2018
	(In thousands)
Premiums and Other Revenues:
Premiums and contract revenues	$	61,939		42,496	178,195	130,035
Net investment income	108,456			175,553	388,211	358,100
Other revenues	3,273			5,111	13,652	15,396
Realized gains (losses) on investments	(502		)	2,275	3,702	5,582
Total condensed consolidated premiums and other revenues	$	173,166		225,435	583,760	509,113

Reconciliation of segment federal income taxes to condensed consolidated financial statements

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019			2018	2019	2018
	(In thousands)
Federal Income Taxes:
Total segment Federal income taxes	$	5,109		8,615	23,067	22,496
Taxes on realized gains (losses) on investments	(106		)	478	777	1,172
Total condensed consolidated Federal income taxes	$	5,003		9,093	23,844	23,668

Reconciliation of segment net earnings to condensed consolidated financial statements

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019			2018	2019	2018
	(In thousands)
Net Earnings:
Total segment earnings	$	20,385		33,844	90,958	90,572
Realized gains (losses) on investments, net of taxes	(396		)	1,797	2,925	4,410
Total condensed consolidated net earnings	$	19,989		35,641	93,883	94,982

Reconciliation of segment assets to condensed consolidated financial statements

	September 30,		December 31,
	2019		2018
	(In thousands)
Assets:
Total segment assets	$	12,166,550	11,588,481
Other unallocated assets	393,044		343,210
Total condensed consolidated assets	$	12,559,594	11,931,691