Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

IncomeTaxDisclosureAbstract

ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock

	2012		2011		2010
				(in thousands)
Current tax expense:
U.S.	$	26,637	$	32,230	$	(27,926)
State and local		-		-		(693)
Total	$	26,637	$	32,230	$	(28,619)
Deferred tax expense:
U.S.		196,997		(198,293)		148,362
State and local		-		-		(237)
Total	$	196,997	$	(198,293)	$	148,125
Total income tax (benefit) expense on income from continuing operations		223,634		(166,063)		119,506
Income tax expense (benefit) reported in equity related to:
Other comprehensive income (loss)		(7,218)		(16,240)		25,591
Additional paid-in capital		5,730		-		-
Total income tax (benefit) expense	$	222,146	$	(182,303)	$	145,097

ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock

		2012		2011		2010
				(in thousands)
Expected federal income tax (benefit) expense	$	300,192	$	(111,165)	$	186,653
Non taxable investment income		(66,895)		(47,451)		(55,497)
Tax credits		(10,279)		(7,517)		(11,290)
State income taxes, net of federal benefit		-		-		(604)
Other		616		70		244
Total income tax (benefit) expense	$	223,634	$	(166,063)	$	119,506

ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock

		2012		2011
		(in thousands)
Deferred tax assets
Insurance reserves	$	398,481	$	470,084
Investments		86,745		88,757
Compensation reserves		3,223		4,546
Other		1,547		1,697
Deferred tax assets		489,996		565,084
Deferred tax liabilities
VOBA and deferred policy acquisition cost		269,507		166,754
Deferred annuity bonus		194,890		156,044
Net unrealized gain on securities		133,136		154,314
Deferred tax liabilities		597,533		477,112
Net deferred tax asset (liability)	$	(107,537)	$	87,971