Deferred Acquisition Costs

12 Months Ended

Dec. 31, 2020

Insurance [Abstract]

Deferred Acquisition Costs

Note 5—Deferred Acquisition Costs

An analysis of "DAC" is as follows:

	Year Ended December 31,
	2020		2019		2018
Balance at beginning of year	$	4,341,941	$	4,137,925	$	3,958,063
Additions:
Deferred during period:
Commissions	600,577		534,735		497,459
Other expenses	222,408		218,926		202,092
Total deferred	822,985		753,661		699,551
Foreign exchange adjustment	4,755		4,299		—
Adjustment attributable to unrealized investment losses(1)	1,533		—		5,549
Total additions	829,273		757,960		705,100
Deductions:
Amortized during period	(575,770)		(551,726)		(516,690)
Foreign exchange adjustment	—		—		(8,548)
Adjustment attributable to unrealized investment gains(1)	—		(2,218)		—
Total deductions	(575,770)		(553,944)		(525,238)
Balance at end of year	$	4,595,444	$	4,341,941	$	4,137,925

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