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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 9 Months Ended
Sep. 30, 2016
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Summary of Changes in the Accumulated Balances for Each Component of AOCI
The following tables summarize the changes in the accumulated balances for each component of accumulated other comprehensive income (loss) (“AOCI”) as of September 30, 2016 (Successor Company), December 31, 2015 (Successor Company), and January 31, 2015 (Predecessor Company).
 
Changes in Accumulated Other Comprehensive Income (Loss) by Component 
Successor Company
 
Unrealized
Gains and Losses
on Investments(2)
 
Accumulated
Gain and Loss
Derivatives
 
Total
Accumulated
Other
Comprehensive
Income (Loss)
 
 
(Dollars In Thousands, Net of Tax)
Beginning Balance, December 31, 2015
 
$
(1,246,391
)
 
$
—

 
$
(1,246,391
)
Other comprehensive income (loss) before reclassifications
 
1,215,021

 
—

 
1,215,021

Other comprehensive income relating to other-than-temporary impaired investments for which a portion has been recognized in earnings
 
(198
)
 
—

 
(198
)
Amounts reclassified from accumulated other comprehensive income (loss)(1)
 
(11,206
)
 
—

 
(11,206
)
Net current-period other comprehensive income (loss)
 
1,203,617

 
—

 
1,203,617

Ending Balance, September 30, 2016
 
$
(42,774
)
 
$
—

 
$
(42,774
)

(1) See Reclassification table below for details.
(2) As of September 30, 2016 net unrealized losses reported in AOCI were offset by $47.3 million due to the impact those net unrealized losses would have had on certain of the Company’s insurance assets and liabilities if the net unrealized losses had been recognized in net income.

Changes in Accumulated Other Comprehensive Income (Loss) by Component
 
Successor Company
 
Unrealized
Gains and Losses
on Investments(2)
 
Accumulated
Gain and Loss
Derivatives
 
Total
Accumulated
Other
Comprehensive
Income (Loss)
 
 
(Dollars In Thousands, Net of Tax)
Beginning Balance, February 1, 2015
 
$
—

 
$
—

 
$
—

Other comprehensive income (loss) before reclassifications
 
(1,263,367
)
 
(86
)
 
(1,263,453
)
Other comprehensive income relating to other-than-temporary impaired investments for which a portion has been recognized in earnings
 
(393
)
 
—

 
(393
)
Amounts reclassified from accumulated other comprehensive income (loss)(1)
 
17,369

 
86

 
17,455

Net current-period other comprehensive income (loss)
 
(1,246,391
)
 
—

 
(1,246,391
)
Ending Balance, December 31, 2015
 
$
(1,246,391
)
 
$
—

 
$
(1,246,391
)

(1) See Reclassification table below for details.
(2) As of December 31, 2015 net unrealized losses reported in AOCI were offset by $623.0 million due to the impact those net unrealized losses would have had on certain of the Company’s insurance assets and liabilities if the net unrealized losses had been recognized in net income.

 


Changes in Accumulated Other Comprehensive Income (Loss) by Component
 
Predecessor Company
 
Unrealized
Gains and Losses
on Investments(2)
 
Accumulated
Gain and Loss
Derivatives
 
Total
Accumulated
Other
Comprehensive
Income (Loss)
 
 
(Dollars In Thousands, Net of Tax)
Beginning Balance, December 31, 2014
 
$
1,483,293

 
$
(82
)
 
$
1,483,211

Other comprehensive income (loss) before reclassifications
 
482,143

 
9

 
482,152

Other comprehensive income relating to other-than-temporary impaired investments for which a portion has been recognized in earnings
 
(243
)
 
—

 
(243
)
Amounts reclassified from accumulated other comprehensive income (loss)(1)
 
(4,166
)
 
23

 
(4,143
)
Net current-period other comprehensive income (loss)
 
477,734

 
32

 
477,766

Ending Balance, January 31, 2015
 
$
1,961,027

 
$
(50
)
 
$
1,960,977


(1) See Reclassification table below for details.
(2) As of January 31, 2015 net unrealized losses reported in AOCI were offset by $(492.6) million due to the impact those net unrealized losses would have had on certain of the Company’s insurance assets and liabilities if the net unrealized losses had been recognized in net income.
Schedule of Reclassifications Amounts Out of AOCI
The following tables summarize the reclassifications amounts out of AOCI for the three and nine months ended September 30, 2016 (Successor Company), the three months ended September 30, 2015 (Successor Company), the period of February 1, 2015 to September 30, 2015 (Successor Company), and the period of January 1, 2015 to January 31, 2015 (Predecessor Company).
 
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
 
Successor Company
Amount
Reclassified
from Accumulated
Other Comprehensive
Income (Loss)
 
Affected Line Item in the
Consolidated Condensed Statements of Income
For the Three Months Ended September 30, 2016
 
 
(Dollars In Thousands)
 
 
Unrealized gains and losses on available-for-sale securities
 

 
 
Net investment gains (losses)
$
1,665

 
Realized investment gains (losses): All other investments
Impairments recognized in earnings
(3,308
)
 
Net impairment losses recognized in earnings
 
(1,643
)
 
Total before tax
 
575

 
Tax (expense) or benefit
 
$
(1,068
)
 
Net of tax
 

Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
 
Successor Company
Amount
Reclassified
from Accumulated
Other Comprehensive
Income (Loss)
 
Affected Line Item in the
Consolidated Condensed Statements of Income
For the Nine Months Ended September 30, 2016
 
 
(Dollars In Thousands)
 
 
Unrealized gains and losses on available-for-sale securities
 

 
 
Net investment gains (losses)
$
24,133

 
Realized investment gains (losses): All other investments
Impairments recognized in earnings
(6,892
)
 
Net impairment losses recognized in earnings
 
17,241

 
Total before tax
 
(6,035
)
 
Tax (expense) or benefit
 
$
11,206

 
Net of tax
 

Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
 
Successor Company
Amount
Reclassified
from Accumulated
Other Comprehensive
Income (Loss)
 
Affected Line Item in the
Consolidated Condensed Statements of Income
For The Three Months Ended September 30, 2015
 
 
(Dollars In Thousands)
 
 
Unrealized gains and losses on available-for-sale securities
 

 
 
Net investment gains (losses)
$
(1,253
)
 
Realized investment gains (losses): All other investments
Impairments recognized in earnings
(10,064
)
 
Net impairment losses recognized in earnings
 
(11,317
)
 
Total before tax
 
3,961

 
Tax (expense) or benefit
 
$
(7,356
)
 
Net of tax


Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
 
Successor Company
Amount
Reclassified
from Accumulated
Other Comprehensive
Income (Loss)
 
Affected Line Item in the
Consolidated Condensed Statements of Income
February 1, 2015 to September 30, 2015
 
 
(Dollars In Thousands)
 
 
Gains and losses on derivative instruments
 

 
 
Net settlement (expense)/benefit(1)
$
(131
)
 
Benefits and settlement expenses, net of reinsurance ceded
 
(131
)
 
Total before tax
 
45

 
Tax (expense) or benefit
 
$
(86
)
 
Net of tax
Unrealized gains and losses on available-for-sale securities
 

 
 
Net investment gains (losses)
$
2,470

 
Realized investment gains (losses): All other investments
Impairments recognized in earnings
(15,798
)
 
Net impairment losses recognized in earnings
 
(13,328
)
 
Total before tax
 
4,664

 
Tax (expense) or benefit
 
$
(8,664
)
 
Net of tax

(1) See Note 8, Derivative Financial Instruments for additional information.

Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
 
Predecessor Company
January 1, 2015 to January 31, 2015
Amount
Reclassified
from Accumulated
Other Comprehensive
Income (Loss)
 
Affected Line Item in the
Consolidated Condensed Statements of Income
 
(Dollars In Thousands)
 
 
Gains and losses on derivative instruments
 

 
 
Net settlement (expense)/benefit(1)
$
(36
)
 
Benefits and settlement expenses, net of reinsurance ceded
 
(36
)
 
Total before tax
 
13

 
Tax (expense) or benefit
 
$
(23
)
 
Net of tax
Unrealized gains and losses on available-for-sale securities
 

 
 
Net investment gains (losses)
$
6,891

 
Realized investment gains (losses): All other investments
Impairments recognized in earnings
(481
)
 
Net impairment losses recognized in earnings
 
6,410

 
Total before tax
 
(2,244
)
 
Tax (expense) or benefit
 
$
4,166

 
Net of tax
 
(1) See Note 8, Derivative Financial Instruments for additional information.