XML 40 R27.htm IDEA: XBRL DOCUMENT v3.19.1
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 12 Months Ended
Dec. 31, 2018
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The following table summarizes the changes in the accumulated balances for each component of AOCI as of December 31, 2018, 2017, and 2016.
Changes in Accumulated Other Comprehensive Income (Loss) by Component
 
Unrealized
Gains and Losses
on Investments(2)
 
Accumulated
Gain and Loss
on Derivatives
 
Total
Accumulated
Other
Comprehensive
Income (Loss)
 
(Dollars In Thousands, Net of Tax)
Balance, December 31, 2015
$
(1,246,391
)
 
$
—

 
$
(1,246,391
)
Other comprehensive income (loss) before reclassifications
602,074

 
688

 
602,762

Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings
(2,008
)
 
—

 
(2,008
)
Amounts reclassified from accumulated other comprehensive income (loss)(1)
(9,442
)
 
39

 
(9,403
)
Balance, December 31, 2016
$
(655,767
)
 
$
727

 
$
(655,040
)
Other comprehensive income (loss) before reclassifications
705,859

 
(563
)
 
705,296

Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings
391

 
—

 
391

Amounts reclassified from accumulated other comprehensive income (loss)(1)
(944
)
 
451

 
(493
)
Cumulative effect adjustments
(26,470
)
 
132

 
(26,338
)
Balance, December 31, 2017
$
23,069

 
$
747

 
$
23,816

Other comprehensive income (loss) before reclassifications
(1,411,674
)
 
(1,884
)
 
(1,413,558
)
Other comprehensive income (loss) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings
(20,751
)
 
—

 
(20,751
)
Amounts reclassified from accumulated other comprehensive income (loss)(1)
15,699

 
1,130

 
16,829

Cumulative effect adjustments
(10,552
)
 
—

 
(10,552
)
Balance, December 31, 2018
$
(1,404,209
)
 
$
(7
)
 
$
(1,404,216
)
(1)
See Reclassification table below for details.
(2)
As of December 31, 2015, 2016, 2017 and 2018, net unrealized losses reported in AOCI were offset by$623.0 million, $424.1 million, $(6.3) million and $613.4 million, respectively, 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.
The following tables summarize the reclassifications amounts out of AOCI for the years ended December 31, 2018, 2017, and 2016.
Gains/(losses) in net income:
 
Affected Line Item in the Consolidated
Statements of Income
 
For The Year Ended December 31,
 
 
 
 
2018
 
2017
 
2016
 
 
 
 
(Dollars In Thousands)
Derivative instruments
 
Benefits and settlement expenses, net of reinsurance ceded(1)
 
$
(1,431
)
 
$
(694
)
 
$
(60
)
 
 
Tax (expense) benefit
 
301

 
243

 
21

 
 
 
 
$
(1,130
)
 
$
(451
)
 
$
(39
)
 
 
 
 
 
 
 
 
 
Unrealized gains and losses on available-for-sale securities
 
Realized investment gains (losses): All other investments
 
$
9,851

 
$
10,453

 
$
32,275

 
 
Net impairment losses recognized in earnings
 
(29,724
)
 
(9,112
)
 
(17,748
)
 
 
Tax (expense) or benefit
 
4,174

 
(397
)
 
(5,085
)
 
 
 
 
$
(15,699
)
 
$
944

 
$
9,442

 
 
 
 
 
 
 
 
 
(1) See Note 7, Derivative Financial Instruments for additional information