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Segment and Other Operating Information
6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
SEGMENT AND OTHER OPERATING INFORMATION SEGMENT AND OTHER OPERATING INFORMATIONThe Company defines its reportable operating segments as domestic life insurance, international life insurance, annuities, and ONL & Affiliates. These segments are organized based on product types, geographic marketing areas, and business groupings. Ozark National and NIS have been combined into a separate segment given its inter-related marketing and sales approach which consists of a coordinated sale of a non-participating whole life insurance product (Ozark National) and a mutual fund investment product (NIS). A fifth category "All Others" primarily includes investments and earnings of non-operating subsidiaries as well as other remaining investments and assets not otherwise supporting specific segment operations. In accordance with GAAP guidance for segment reporting, the Company excludes or segregates realized investment gains and losses.
A summary of segment information as of June 30, 2023 and December 31, 2022 for the Condensed Consolidated Balance Sheet items and for the three and six months ended June 30, 2023 and June 30, 2022 for the Condensed Consolidated Statements of Earnings is provided below.

Condensed Consolidated Balance Sheet Items:

June 30, 2023
 Domestic
Life
Insurance
International
 Life
Insurance
AnnuitiesONL & AffiliatesAll
 Others
Totals
 (In thousands)
Deferred transaction costs$180,049 155,665 443,207 150,594 — 929,515 
Market risk benefits asset— — 40,073 — — 40,073 
Total segment assets1,868,280 869,799 7,919,330 962,050 349,006 11,968,465 
Future policyholder obligations1,574,178 643,096 5,543,613 584,241 — 8,345,128 
Market risk benefits liability— — 248,876 — — 248,876 
Other policyholder liabilities25,080 12,490 96,355 14,188 — 148,113 
Funds withheld liability— — 1,243,314 — — 1,243,314 

December 31, 2022
 Domestic
Life
Insurance
International
 Life
Insurance
AnnuitiesONL & AffiliatesAll
 Others
Totals
 (In thousands)
Deferred transaction costs$179,193 163,438 470,120 153,257 — 966,008 
Market risk benefits asset— — 48,759 — — 48,759 
Total segment assets1,803,876 889,022 8,270,315 994,318 335,343 12,292,874 
Future policyholder obligations 1,553,624 675,786 5,907,974 573,255 — 8,710,639 
Market risk benefits liability— — 215,777 — — 215,777 
Other policyholder liabilities25,596 15,560 118,615 15,318 — 175,089 
Funds withheld liability— — 1,333,036 — — 1,333,036 
Condensed Consolidated Statements of Earnings:

Three Months Ended June 30, 2023
 Domestic
Life
Insurance
International
 Life
Insurance
AnnuitiesONL & AffiliatesAll
 Others
Totals
 (In thousands)
Premiums and contract revenues$11,946 21,540 6,362 18,504 — 58,352 
Net investment income29,825 8,669 61,189 8,243 14,588 122,514 
Other revenues14 1,786 2,636 847 5,285 
Total revenues41,785 30,211 69,337 29,383 15,435 186,151 
Life and other policy benefits4,880 3,652 9,736 14,420 — 32,688 
Market risk benefits expense— — (788)— — (788)
Amortization of deferred transaction costs3,209 3,993 12,399 2,399 — 22,000 
Universal life and annuity contract interest26,209 7,134 (396)— — 32,947 
Other operating expenses14,001 11,182 30,067 5,715 1,478 62,443 
Federal income taxes(1,198)912 3,407 1,390 2,737 7,248 
Total expenses47,101 26,873 54,425 23,924 4,215 156,538 
Segment earnings (loss)$(5,316)3,338 14,912 5,459 11,220 29,613 
Three Months Ended June 30, 2022
 Domestic
Life
Insurance
International
 Life
Insurance
AnnuitiesONL & AffiliatesAll
 Others
Totals
 (In thousands)
Premiums and contract revenues$12,902 19,073 4,656 18,831 — 55,462 
Net investment income (loss)(5,955)(2,983)55,549 7,209 1,654 55,474 
Other revenues26 17 1,369 2,873 1,293 5,578 
Total revenues6,973 16,107 61,574 28,913 2,947 116,514 
Life and other policy benefits3,109 2,725 7,335 13,032 — 26,201 
Policy benefit remeasurement (gain)/loss— — — — — — 
Market risk benefits expense— — (55,492)— — (55,492)
Amortization of deferred transaction costs3,048 4,347 11,740 3,365 — 22,500 
Universal life and annuity contract interest(9,804)(4,622)(11,772)— — (26,198)
Other operating expenses6,327 4,377 12,809 5,090 1,719 30,322 
Federal income taxes875 1,880 19,566 1,509 219 24,049 
Total expenses3,555 8,707 (15,814)22,996 1,938 21,382 
Segment earnings$3,418 7,400 77,388 5,917 1,009 95,132 
Six Months Ended June 30, 2023
Domestic
Life
Insurance
International
Life
Insurance
AnnuitiesONL & AffiliatesAll
Others
Totals
 (In thousands)
Premiums and contract revenues$25,422 41,605 10,602 37,656 — 115,285 
Net investment income47,804 14,067 114,270 16,161 20,121 212,423 
Other revenues14 3,802 5,325 1,845 10,990 
Total revenues73,240 55,676 128,674 59,142 21,966 338,698 
Life and other policy benefits7,389 5,530 14,736 29,223 — 56,878 
Market risk benefits expense— — 36,172 — — 36,172 
Amortization of deferred transaction costs6,375 8,077 24,006 4,816 — 43,274 
Universal life and annuity contract interest39,347 10,946 12,866 — — 63,159 
Other operating expenses18,422 14,908 40,651 10,218 2,927 87,126 
Federal income taxes330 3,135 47 3,030 3,682 10,224 
Total expenses71,863 42,596 128,478 47,287 6,609 296,833 
Segment earnings$1,377 13,080 196 11,855 15,357 41,865 
Six Months Ended June 30, 2022
Domestic
Life
Insurance
International
Life
Insurance
AnnuitiesONL & AffiliatesAll
Others
Totals
 (In thousands)
Premiums and contract revenues$25,812 38,309 11,962 38,317 — 114,400 
Net investment income(8,942)(7,037)116,210 14,137 10,830 125,198 
Other revenues51 39 2,598 6,088 2,599 11,375 
Total revenues16,921 31,311 130,770 58,542 13,429 250,973 
Life and other policy benefits7,778 6,629 17,625 27,681 — 59,713 
Market risk benefits expense— — (116,498)— — (116,498)
Amortization of deferred transaction costs6,541 8,839 23,719 6,837 — 45,936 
Universal life and annuity contract interest(16,577)(10,343)(12,849)— — (39,769)
Other operating expenses12,880 9,737 26,978 10,071 3,237 62,903 
Federal income taxes1,294 3,379 39,395 2,830 2,093 48,991 
Total expenses11,916 18,241 (21,630)47,419 5,330 61,276 
Segment earnings$5,005 13,070 152,400 11,123 8,099 189,697 
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,
 2023202220232022
 (In thousands)
Premiums and Other Revenues:    
Premiums and contract revenues$58,352 55,462 115,285 114,400 
Net investment income122,514 55,474 212,423 125,198 
Other revenues5,285 5,578 10,990 11,375 
Realized gains on investments26 1,766 93 5,560 
Total condensed consolidated premiums and other revenues$186,177 118,280 338,791 256,533 

 Three Months Ended June 30,Six Months Ended June 30,
 2023202220232022
 (In thousands)
Federal Income Taxes:    
Total segment Federal income taxes$7,248 24,049 10,224 48,991 
Taxes on realized gains on investments371 20 1,168 
Total condensed consolidated Federal income taxes$7,253 24,420 10,244 50,159 

 Three Months Ended June 30,Six Months Ended June 30,
 2023202220232022
 (In thousands)
Net Earnings:    
Total segment earnings$29,613 95,132 41,865 189,697 
Realized gains on investments, net of taxes21 1,395 73 4,392 
Total condensed consolidated net earnings$29,634 96,527 41,938 194,089 
 June 30,December 31,
 20232022
 (In thousands)
Assets:  
Total segment assets$11,968,465 12,292,874 
Other unallocated assets485,921 490,071 
Total condensed consolidated assets$12,454,386 12,782,945