Significant Accounting Policies and Pronouncements (Tables)

9 Months Ended

Sep. 30, 2018

Adoption of ASU 2016-01

The following table illustrates the impact on the Company’s Consolidated Statement of Financial Position as a result of recording this cumulative-effect adjustment on January 1, 2018.



Summary of ASU 2016-01 Transition Impacts on the Consolidated Statement
of Financial Position upon Adoption on January 1, 2018
(in thousands)
	Increase / (Decrease)
Other invested assets	$	423
Total assets	$	423
Income taxes	$	89
Total liabilities	89
Accumulated other comprehensive income (loss)	(3		)
Retained earnings	337
Total equity	334
Total liabilities and equity	$	423

The table below illustrates these changes by presenting the balances as previously reported in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 and the reclassifications that were made, along with a footnote explanation of each reclassification.



	December 31, 2017
	As previously reported		Reclassifications									As currently reported
Statement of Financial Position Line Items			(1)			(2)			(3)
	(in thousands)
Fixed maturities, available-for-sale, at fair value	$	10,110,786										$	10,110,786
*Fixed maturities, trading, at fair value	0					166,360						166,360
Trading account assets, at fair value	181,717					(181,717		)				0
Equity securities, available-for-sale, at fair value	18		(18		)							0
*Equity securities, at fair value	0		18			15,357						15,375
Commercial mortgage and other loans	1,387,012											1,387,012
Policy loans	12,558											12,558
Short-term investments	711,071											711,071
Other long-term investments	335,811								(335,811		)	0
*Other invested assets	0								335,811			335,811
Total investments	$	12,738,973	$	0		$	0		$	0		$	12,738,973

* - New line item effective January 1, 2018.

Strikethrough - Eliminated line item effective January 1, 2018.


(1)	Retitled “Equity securities, available-for-sale, at fair value” to “Equity securities, at fair value” as equity securities can no longer be described as available-for-sale.


(2)	Eliminated the line item “Trading account assets, at fair value” and reclassified each component to another line item.


(3)	Retitled “Other long-term investments” to “Other invested assets”.