Deferred Acquisition Costs

12 Months Ended

Dec. 31, 2014

Insurance [Abstract]

Deferred Acquisition Costs

Note 5—Deferred Acquisition Costs

An analysis of deferred acquisition costs is as follows:

	2014			2013			2012
Balance at beginning of year	$	3,337,649		$	3,198,431		$	2,916,732
Additions:
Deferred during period:
Commissions		361,358			331,060			312,581
Other expenses		205,913			193,203			168,237
Total deferred		567,271			524,263			480,818
Value of insurance purchased during year		0			8,489			175,257
Foreign exchange adjustment		0			0			3,557
Adjustment attributable to unrealized investment losses(1)		0			14,906			7,234
Total additions		567,271			547,658			666,866
Deductions:
Amortized during period		(418,772	)		(403,389	)		(385,167	)
Foreign exchange adjustment		(8,167	)		(5,051	)		0
Adjustment attributable to unrealized investment gains(1)		(6,200	)		0			0
Total deductions		(433,139	)		(408,440	)		(385,167	)
Balance at end of year	$	3,471,781		$	3,337,649		$	3,198,431

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