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Unaudited Interim Statements of Financial Position - USD ($)
$ in Thousands
Jun. 30, 2018
Dec. 31, 2017
ASSETS    
Fixed maturities, available-for-sale, at fair value (amortized cost, 2018: $9,745,836; 2017: $10,145,266) $ 9,386,801 $ 10,110,786
Fixed maturities, trading, at fair value (amortized cost, 2018: $271,225; 2017: $161,393) [1] 270,750 166,360
Equity securities, at fair value (cost, 2018: $10,548; 2017: $11,614) [1] 14,680 15,375
Commercial mortgage and other loans 1,376,710 1,387,012
Policy loans 12,582 12,558
Short-term investments 285,452 711,071
Other invested assets (includes $7,298 and $151,481 measured at fair value at June 30, 2018 and December 31, 2017, respectively) [1] 211,819 335,811
Total investments 11,558,794 12,738,973
Cash and cash equivalents 1,380,913 1,639,939
Deferred policy acquisition costs 4,502,165 4,596,565
Accrued investment income 83,912 88,331
Reinsurance recoverables 520,111 563,428
Income taxes 1,126,161 1,116,735
Value of business acquired 35,938 35,109
Deferred sales inducements 951,447 1,020,786
Receivables from parent and affiliates 51,809 49,351
Other assets 108,594 121,086
Separate account assets 35,584,480 37,990,547
TOTAL ASSETS 55,904,324 59,960,850
LIABILITIES    
Future policy benefits 7,194,626 9,132,569
Policyholders’ account balances 4,964,987 4,846,152
Payables to parent and affiliates 123,883 36,026
Cash collateral for loaned securities 11,539 17,383
Short-term debt 187,800 43,734
Long-term debt 787,595 928,165
Reinsurance payables 247,971 262,588
Other liabilities 417,835 422,636
Separate account liabilities 35,584,480 37,990,547
Total liabilities 49,520,716 53,679,800
COMMITMENTS AND CONTINGENT LIABILITIES
EQUITY    
Common stock, ($100 par value; 25,000 shares authorized, issued and outstanding) 2,500 2,500
Additional paid-in capital 6,595,436 7,145,436
Retained earnings/(accumulated deficit) 98,514 (776,762)
Accumulated other comprehensive income (loss) (312,842) (90,124)
Total equity 6,383,608 6,281,050
TOTAL LIABILITIES AND EQUITY $ 55,904,324 $ 59,960,850
[1] (1)Prior period amounts have been reclassified to conform to current period presentation. See "Adoption of ASU 2016-01" in Note 2 for details.