OPERATING SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2017

Segment Reporting [Abstract]

Summary of Financial Information for the Company's Segments

The following tables presents a summary of results and reconciles pre-tax adjusted operating income (loss) to consolidated income before income tax and net income: 

	For The Three Months Ended June 30,						For The Six Months Ended June 30,
	2017			2016			2017			2016
	(Dollars In Thousands)
Revenues
Life Marketing	$	379,880		$	384,823		$	776,952		$	765,897
Acquisitions	387,464			453,848			788,831			878,655
Annuities	136,863			188,597			246,719			407,113
Stable Value Products	42,087			26,237			82,930			56,139
Asset Protection	93,290			76,419			183,634			150,098
Corporate and Other	23,879			44,918			31,753			76,842
Total revenues	$	1,063,463		$	1,174,842		$	2,110,819		$	2,334,744
Pre-tax Adjusted Operating Income (Loss)
Life Marketing	$	24,342		25,098			44,419			$	38,224
Acquisitions	68,278			45,285			121,945			113,938
Annuities	36,288			47,480			78,349			92,756
Stable Value Products	22,367			15,178			46,266			29,626
Asset Protection	4,674			4,141			8,624			8,397
Corporate and Other	(35,325		)	(30,248		)	(69,686		)	(64,990		)
Pre-tax adjusted operating income	120,624			106,934			229,917			217,951
Realized (losses) gains on investments and derivatives	12,662			153,646			(9,987		)	277,608
Income before income tax	133,286			260,580			219,930			495,559
Income tax expense	(43,654		)	(87,787		)	(71,959		)	(164,149		)
Net income	$	89,632		$	172,793		$	147,971		$	331,410
Pre-tax adjusted operating income	$	120,624		$	106,934		$	229,917		$	217,951
Adjusted operating income tax (expense) benefit	(39,222		)	(34,011		)	(75,454		)	(66,986		)
After-tax adjusted operating income	81,402			72,923			154,463			150,965
Realized (losses) gains on investments and derivatives	12,662			153,646			(9,987		)	277,608
Income tax benefit (expense) on adjustments	(4,432		)	(53,776		)	3,495			(97,163		)
Net income	$	89,632		$	172,793		$	147,971		$	331,410
Realized investment (losses) gains:
Derivative financial instruments	$	(63,794	)	$	43,548		$	(124,694	)	$	75,456
All other investments	53,535			88,783			76,376			170,492
Net impairment losses recognized in earnings	(2,785		)	(967		)	(7,986		)	(3,584		)
Less: related amortization(1)	(15,703		)	(13,073		)	(26,447		)	(17,123		)
Less: VA GLWB economic cost	(10,003		)	(9,209		)	(19,870		)	(18,121		)
Realized (losses) gains on investments and derivatives	$	12,662		$	153,646		$	(9,987	)	$	277,608
(1)  Includes amortization of DAC/VOBA and benefits and settlement expenses that are impacted by realized gains (losses).

	Operating Segment Assets As of June 30, 2017
	(Dollars In Thousands)
	Life Marketing		Acquisitions		Annuities		Stable Value Products
Investments and other assets	$	14,508,254	$	19,543,986	$	20,605,767	$	3,896,076
DAC and VOBA	1,265,342		91,168		704,256		5,512
Other intangibles	291,184		35,825		176,782		8,389
Goodwill	200,274		14,524		336,677		113,813
Total assets	$	16,265,054	$	19,685,503	$	21,823,482	$	4,023,790

	Asset Protection		Corporate and Other		Total Consolidated
Investments and other assets	$	887,196	$	13,462,362	$	72,903,641
DAC and VOBA	33,508		—		2,099,786
Other intangibles	138,557		14,474		665,211
Goodwill	128,182		—		793,470
Total assets	$	1,187,443	$	13,476,836	$	76,462,108

	Operating Segment Assets As of December 31, 2016
	(Dollars In Thousands)
	Life Marketing		Acquisitions		Annuities		Stable Value Products
Investments and other assets	$	14,050,905	$	19,679,690	$	20,076,818	$	3,373,646
DAC and VOBA	1,218,944		106,532		655,618		5,455
Other intangibles	300,664		37,103		183,449		8,722
Goodwill	200,274		14,524		336,677		113,813
Total assets	$	15,770,787	$	19,837,849	$	21,252,562	$	3,501,636

	Asset Protection		Corporate and Other		Total Consolidated
Investments and other assets	$	858,648	$	12,920,083	$	70,959,790
DAC and VOBA	37,975		—		2,024,524
Other intangibles	143,865		13,545		687,348
Goodwill	128,182		—		793,470
Total assets	$	1,168,670	$	12,933,628	$	74,465,132