Deferred Acquisition Costs

12 Months Ended

Dec. 31, 2019

Insurance [Abstract]

Deferred Acquisition Costs

Note 5—Deferred Acquisition Costs

An analysis of DAC is as follows:

	Year Ended December 31,
	2019		2018		2017
Balance at beginning of year	$	4,137,925	$	3,958,063	$	3,783,158
Additions:
Deferred during period:
Commissions	534,735		497,459		465,920
Other expenses	218,926		202,092		194,214
Total deferred	753,661		699,551		660,134
Foreign exchange adjustment	4,299		—		5,712
Adjustment attributable to unrealized investment losses(1)	—		5,549		—
Total additions	757,960		705,100		665,846
Deductions:
Amortized during period	(551,726)		(516,690)		(490,403)
Foreign exchange adjustment	—		(8,548)		—
Adjustment attributable to unrealized investment gains(1)	(2,218)		—		(538)
Total deductions	(553,944)		(525,238)		(490,941)
Balance at end of year	$	4,341,941	$	4,137,925	$	3,958,063

(1)Represents amounts pertaining to investments relating to universal life-type products.