DEFERRED POLICY ACQUISITION COSTS AND VALUE OF BUSINESS ACQUIRED (Tables)

12 Months Ended

Dec. 31, 2012

	As of December 31, 2011
	As originally				Effect of
	reported		As adjusted		Change
	(Dollars In Thousands)
Assets:
Deferred policy acquisition costs and value of business acquired	$	4,011,936	$	3,223,220	$	(788,716	)

Total assets	$	52,791,899	$	52,003,183	$	(788,716	)

Liabilities:
Deferred income taxes	$	1,573,764	$	1,293,996	$	(279,768	)

Total liabilities	$	47,405,601	$	47,125,833	$	(279,768	)

Equity:
Retained earnings	$	2,984,466	$	2,456,293	$	(528,173	)
Accumulated other comprehensive income (loss):
Net unrealized gain (losses) on investments, net of income tax	1,076,854		1,096,079		19,225

Total equity	$	5,386,298	$	4,877,350	$	(508,948	)

Total liabilities and shareowner’s equity	$	52,791,899	$	52,003,183	$	(788,716	)

	For The Year Ended December 31, 2011
	As originally				Effect of
	reported		As adjusted		Change
	(Dollars In Thousands)
Expenses:
Amortization of deferred policy acquisition costs and value of business acquired	$	300,450	$	249,520	$	(50,930	)
Other operating expenses	373,964		461,570		87,606
Total benefits and expenses	2,896,634		2,933,310		36,676

Income before income tax	511,951		475,275		(36,676		)

Income tax (benefit) expense	164,517		151,519		(12,998		)

Net income	$	347,434	$	323,756	$	(23,678	)

	For The Year Ended December 31, 2010
	As originally				Effect of
	reported		As adjusted		Change
	(Dollars In Thousands)
Expenses:
Amortization of deferred policy acquisition costs and value of business acquired	$	189,255	$	144,496	$	(44,759	)
Other operating expenses	284,070		382,920		98,850
Total benefits and expenses	2,549,717		2,603,808		54,091

Income before income tax	387,267		333,176		(54,091		)

Income tax (benefit) expense	129,029		109,865		(19,164		)

Net income	$	258,238	$	223,311	$	(34,927	)

	For The Year Ended December 31, 2011
	As
	originally						Effect of
	reported			As adjusted			Change
	(Dollars In Thousands)
Cash flows from operating activities
Net income	$	347,434		$	323,756		$	(23,678	)
Amortization of deferred policy acquisition costs and value of business acquired	300,450			249,520			(50,930		)
Capitalization of deferred policy acquisition costs	(442,638		)	(355,033		)	87,605
Deferred income tax	120,262			107,265			(12,997		)
Change to net cash (used in) provided by operating activities	$	325,508		$	325,508		$	—

	For The Year Ended December 31, 2010
	As
	originally						Effect of
	reported			As adjusted			Change
	(Dollars In Thousands)
Cash flows from operating activities
Net income	$	258,238		$	223,311		$	(34,927	)
Amortization of deferred policy acquisition costs and value of business acquired	189,255			144,496			(44,759		)
Capitalization of deferred policy acquisition costs	(446,560		)	(348,730		)	97,830
Deferred income tax	85,483			66,682			(18,801		)
Other, net	(47,319		)	(46,662		)	657
Change to net cash (used in) provided by operating activities	$	39,097		$	39,097		$	—

	As of December 31,
	2012			2011
	(Dollars In Thousands)
Balance, beginning of period	$	2,291,613		$	2,182,085
Capitalization of commissions, sales, and issue expenses	311,959			355,033
Amortization	(105,447		)	(159,329		)
Change in unrealized investment gains and losses	(90,599		)	(86,176		)
Balance, end of period	$	2,407,526		$	2,291,613

	As of December 31,
	2012			2011
	(Dollars In Thousands)
Balance, beginning of period	$	931,607		$	881,324
Acquisitions	—			137,418
Amortization	(86,736		)	(90,192		)
Change in unrealized gains and losses	(27,041		)	3,057
Balance, end of period	$	817,830		$	931,607