OPERATING SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Summary of Financial Information for the Company's Segments

The following tables present 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 March 31,
	2018			2017
	(Dollars In Thousands)
Revenues
Life Marketing	$	403,882		$	397,072
Acquisitions	379,094			401,367
Annuities	85,795			109,856
Stable Value Products	53,868			40,843
Asset Protection	87,691			90,344
Corporate and Other	53,181			7,874
Total revenues	$	1,063,511		$	1,047,356
Pre-tax Adjusted Operating Income (Loss)
Life Marketing	$	(15,168	)	20,077
Acquisitions	55,520			53,667
Annuities	30,168			42,061
Stable Value Products	29,080			23,899
Asset Protection	4,299			3,951
Corporate and Other	(38,747		)	(34,362		)
Pre-tax adjusted operating income	65,152			109,293
Realized (losses) gains on investments and derivatives	(43,216		)	(22,649		)
Income before income tax	21,936			86,644
Income tax expense	(3,661		)	(28,305		)
Net income	$	18,275		$	58,339
Pre-tax adjusted operating income	$	65,152		$	109,293
Adjusted operating income tax (expense) benefit	(12,736		)	(36,232		)
After-tax adjusted operating income	52,416			73,061
Realized (losses) gains on investments and derivatives	(43,216		)	(22,649		)
Income tax benefit (expense) on adjustments	9,075			7,927
Net income	$	18,275		$	58,339
Realized investment (losses) gains:
Derivative financial instruments	$	46,826		$	(60,900	)
All other investments	(87,551		)	22,841
Net impairment losses recognized in earnings	(3,645		)	(5,201		)
Less: related amortization(1)	9,156			(10,744		)
Less: VA GLWB economic cost	(10,310		)	(9,867		)
Realized (losses) gains on investments and derivatives	$	(43,216	)	$	(22,649	)
(1)  Includes amortization of DAC/VOBA and benefits and settlement expenses that are impacted by realized gains (losses).

	Operating Segment Assets As of March 31, 2018
	(Dollars In Thousands)
	Life Marketing		Acquisitions		Annuities		Stable Value Products
Investments and other assets	$	14,754,579	$	19,275,508	$	20,503,773	$	4,571,793
DAC and VOBA	1,374,149		90,466		800,941		6,133
Other intangibles	276,853		33,909		166,784		7,889
Goodwill	200,274		14,524		336,677		113,813
Total assets	$	16,605,855	$	19,414,407	$	21,808,175	$	4,699,628

	Asset Protection		Corporate and Other		Total Consolidated
Investments and other assets	$	826,956	$	13,701,640	$	73,634,249
DAC and VOBA	167,500		—		2,439,189
Other intangibles	130,573		35,063		651,071
Goodwill	128,182		—		793,470
Total assets	$	1,253,211	$	13,736,703	$	77,517,979

	Operating Segment Assets As of December 31, 2017
	(Dollars In Thousands)
	Life Marketing		Acquisitions		Annuities		Stable Value Products
Investments and other assets	$	14,917,752	$	19,588,133	$	20,774,566	$	4,569,639
DAC and VOBA	1,320,776		74,862		772,634		6,864
Other intangibles	281,705		34,548		170,117		8,056
Goodwill	200,274		14,524		336,677		113,813
Total assets	$	16,720,507	$	19,712,067	$	22,053,994	$	4,698,372

	Asset Protection		Corporate and Other		Total Consolidated
Investments and other assets	$	708,605	$	14,893,253	$	75,451,948
DAC and VOBA	30,265		—		2,205,401
Other intangibles	133,234		35,256		662,916
Goodwill	128,182		—		793,470
Total assets	$	1,000,286	$	14,928,509	$	79,113,735