XML 49 R37.htm IDEA: XBRL DOCUMENT v3.10.0.1
Equity (Tables)
 12 Months Ended
Dec. 31, 2018
Equity [Abstract]  
Components of Accumulated Other Comprehensive Income (Loss)
The balance of and changes in each component of AOCI as of and for the years ended December 31, are as follows:
 
Accumulated Other Comprehensive Income (Loss)
 
Foreign Currency
Translation
Adjustment
 
Net Unrealized
Investment
Gains (Losses)(1)
 
Total Accumulated
Other
Comprehensive
Income (Loss)
 
 
 
 
 
 
 
(in thousands)
Balance, December 31, 2015
$
(65
)
 
$
46,231

 
$
46,166

Change in OCI before reclassifications
(20
)
 
(469,356
)
 
(469,376
)
Amounts reclassified from AOCI
0

 
(86,184
)
 
(86,184
)
Income tax benefit (expense)
7

 
194,439

 
194,446

Balance, December 31, 2016
(78
)
 
(314,870
)
 
(314,948
)
Change in OCI before reclassifications
109

 
320,182

 
320,291

Amounts reclassified from AOCI
0

 
3,177

 
3,177

Income tax benefit (expense)
(38
)
 
(98,606
)
 
(98,644
)
Balance, December 31, 2017
(7
)
 
(90,117
)
 
(90,124
)
Change in OCI before reclassifications
(1,354
)
 
(311,658
)
 
(313,012
)
Amounts reclassified from AOCI
0

 
62,970

 
62,970

Income tax benefit (expense)
285

 
52,225

 
52,510

Cumulative effect of adoption of ASU 2016-01
0

 
(3
)
 
(3
)
Cumulative effect of adoption of ASU 2018-02
(2
)
 
(36,712
)
 
(36,714
)
Balance, December 31, 2018
$
(1,078
)
 
$
(323,295
)
 
$
(324,373
)
(1)
Includes cash flow hedges of $(4) million, $(26) million and $12 million as of December 31, 2018, 2017, and 2016, respectively.
Reclassification out of Accumulated Other Comprehensive Income (Loss)
Reclassifications out of Accumulated Other Comprehensive Income (Loss)
 
Year Ended December 31, 2018
 
Year Ended December 31, 2017
 
Year Ended December 31, 2016
 
 
 
 
 
 
 
(in thousands)
Amounts reclassified from AOCI(1)(2):
 
 
 
 
 
Net unrealized investment gains (losses):
 
 
 
 
 
Cash flow hedges - Currency/Interest rate(3)
$
20,761

 
$
(1,838
)
 
$
12,800

Net unrealized investment gains (losses) on available-for-sale securities
(83,731
)
 
(1,339
)
 
73,384

Total net unrealized investment gains (losses)(4)
(62,970
)
 
(3,177
)
 
86,184

Total reclassifications for the period
$
(62,970
)
 
$
(3,177
)
 
$
86,184


(1)
All amounts are shown before tax.
(2)
Positive amounts indicate gains/benefits reclassified out of AOCI. Negative amounts indicate losses/costs reclassified out of AOCI.
(3)
See Note 4 for additional information on cash flow hedges.
(4)
See table below for additional information on unrealized investment gains (losses), including the impact on deferred policy acquisition and other costs and future policy benefits.
Net Unrealized Investment Gains (Losses) AOCI Rollforward
The amounts for the periods indicated below, split between amounts related to fixed maturity securities on which an OTTI loss has been recognized, and all other net unrealized investment gains (losses), are as follows:

Net Unrealized Investment Gains (Losses) on Fixed Maturity Securities on which an OTTI loss has been recognized
 
Net Unrealized
Gains (Losses)
on Investments
 
Deferred Policy
Acquisition Costs
and Other Costs(2)
 
Future Policy Benefits and Other Liabilities(3)
 
Deferred
Income Tax
(Liability)
Benefit
 
Accumulated
Other
Comprehensive
Income (Loss)
Related To Net
Unrealized
Investment
Gains (Losses)
 
 
 
 
 
 
 
 
 
 
 
(in thousands)
Balance, December 31, 2015
$
9

 
$
(3
)
 
$
0

 
$
14

 
$
20

Net investment gains (losses) on investments arising during the period
378

 
0

 
0

 
(132
)
 
246

Reclassification adjustment for (gains) losses included in net income
556

 
0

 
0

 
(195
)
 
361

Reclassification adjustment for OTTI losses excluded from net income
(2,204
)
 
0

 
0

 
771

 
(1,433
)
Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs
0

 
(2,130
)
 
0

 
746

 
(1,384
)
Impact of net unrealized investment (gains) losses on future policy benefits
0

 
0

 
(522
)
 
183

 
(339
)
Balance, December 31, 2016
(1,261
)
 
(2,133
)
 
(522
)
 
1,387

 
(2,529
)
Net investment gains (losses) on investments arising during the period
11,328

 
0

 
0

 
(3,481
)
 
7,847

Reclassification adjustment for (gains) losses included in net income
2,172

 
0

 
0

 
(667
)
 
1,505

Reclassification adjustment for OTTI losses excluded from net income
72

 
0

 
0

 
(22
)
 
50

Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs
0

 
1,125

 
0

 
(352
)
 
773

Impact of net unrealized investment (gains) losses on future policy benefits
0

 
0

 
365

 
(128
)
 
237

Balance, December 31, 2017
12,311

 
(1,008
)
 
(157
)
 
(3,263
)
 
7,883

Net investment gains (losses) on investments arising during the period
(15,199
)
 
0

 
0

 
3,192

 
(12,007
)
Reclassification adjustment for (gains) losses included in net income
(205
)
 
0

 
0

 
43

 
(162
)
Reclassification adjustment for OTTI losses excluded from net income(1)
(241
)
 
0

 
0

 
51

 
(190
)
Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs
0

 
(111
)
 
0

 
23

 
(88
)
Impact of net unrealized investment (gains) losses on future policy benefits and other liabilities
0

 
0

 
89

 
(19
)
 
70

Balance, December 31, 2018
$
(3,334
)
 
$
(1,119
)
 
$
(68
)
 
$
27

 
$
(4,494
)

(1)
Represents "transfers in" related to the portion of OTTI losses recognized during the period that were not recognized in earnings for securities with no prior OTTI loss.
(2)
"Other costs" primarily includes reinsurance recoverables, DSI and VOBA.
(3)
"Other liabilities" primarily includes reinsurance payables and deferred reinsurance gains.
All Other Net Unrealized Investment Gains (Losses) in AOCI Rollforward
All Other Net Unrealized Investment Gains (Losses) in AOCI
 
Net Unrealized
Gains (Losses)
on Investments (1)
 
Deferred Policy
Acquisition Costs
and Other Costs(3)
 
Future Policy Benefits and Other Liabilities(4)
 
Deferred
Income Tax
(Liability)
Benefit
 
Accumulated
Other
Comprehensive
Income (Loss)
Related To Net
Unrealized
Investment
Gains (Losses)
 
 
 
 
 
 
 
 
 
 
 
(in thousands)
Balance, December 31, 2015
$
107,451

 
$
(30,465
)
 
$
(4,596
)
 
$
(26,179
)
 
$
46,211

Net investment gains (losses) on investments arising during the period
(637,597
)
 
0

 
0

 
223,159

 
(414,438
)
Reclassification adjustment for (gains) losses included in net income
85,628

 
0

 
0

 
(29,970
)
 
55,658

Reclassification adjustment for OTTI losses excluded from net income
2,204

 
0

 
0

 
(771
)
 
1,433

Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs
0

 
(786
)
 
0

 
275

 
(511
)
Impact of net unrealized investment (gains) losses on future policy benefits
0

 
0

 
(1,068
)
 
374

 
(694
)
Balance, December 31, 2016
(442,314
)
 
(31,251
)
 
(5,664
)
 
166,888

 
(312,341
)
Net investment gains (losses) on investments arising during the period
376,012

 
0

 
0

 
(115,538
)
 
260,474

Reclassification adjustment for (gains) losses included in net income
(5,349
)
 
0

 
0

 
1,644

 
(3,705
)
Reclassification adjustment for OTTI losses excluded from net income
(72
)
 
0

 
0

 
22

 
(50
)
Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs
0

 
(50,961
)
 
0

 
15,949

 
(35,012
)
Impact of net unrealized investment (gains) losses on future policy benefits
0

 
0

 
(11,333
)
 
3,967

 
(7,366
)
Balance, December 31, 2017
(71,723
)
 
(82,212
)
 
(16,997
)
 
72,932

 
(98,000
)
Net investment gains (losses) on investments arising during the period
(405,264
)
 
0

 
0

 
85,105

 
(320,159
)
Reclassification adjustment for (gains) losses included in net income
63,175

 
0

 
0

 
(13,267
)
 
49,908

Reclassification adjustment for OTTI losses excluded from net income(2)
241

 
0

 
0

 
(51
)
 
190

Impact of net unrealized investment (gains) losses on deferred policy acquisition costs and other costs
0

 
90,717

 
0

 
(19,049
)
 
71,668

Impact of net unrealized investment (gains) losses on future policy benefits and other liabilities
0

 
0

 
18,110

 
(3,803
)
 
14,307

Cumulative effect of adoption of ASU 2016-01
(4
)
 
0

 
0

 
1

 
(3
)
Cumulative effect of adoption of ASU 2018-02
0

 
0

 
0

 
(36,712
)
 
(36,712
)
Balance, December 31, 2018
$
(413,575
)
 
$
8,505

 
$
1,113

 
$
85,156

 
$
(318,801
)

(1)
Includes cash flow hedges. See Note 4 for information on cash flow hedges.
(2)
Represents "transfers out" related to the portion of OTTI losses recognized during the period that were not recognized in earnings for securities with no prior OTTI loss.
(3)
"Other costs" primarily includes reinsurance recoverables, DSI and VOBA.
(4)
"Other liabilities" primarily includes reinsurance payables and deferred reinsurance gains.