XML 31 R24.htm IDEA: XBRL DOCUMENT
v3.25.3

Revenue from Contracts with Customers | 9 Months Ended
--- | ---
Sep. 30, 2025
Revenue from Contract with Customer [Abstract] |
Revenue from Contract with Customers | (16) Revenue from Contracts with Customers Our revenues from contracts with customers primarily include: • Commissions and fees earned for the marketing and distribution of investment and savings products underwritten by mutual fund companies and annuity providers. For purposes of revenue recognition, mutual fund companies and annuity providers are considered the customers in marketing and distribution arrangements; • Fees earned for investment advisory and administrative services within our managed investments program and shareholder service fees earned in Canada for mutual funds for which we serve as principal distributor; • Account-based fees for transfer agent recordkeeping functions and non-bank custodial services; • Fees associated with mortgage distribution and the distribution of other third-party financial products; and • Other revenue from the sale of miscellaneous products and services including monthly subscription fees from the independent sales representatives for access to POL, our primary independent sales force support tool. Premiums from insurance contracts we underwrite, fees received from segregated funds insurance contracts we underwrite, and income earned on our invested assets are excluded from the definition of revenues from contracts with customers in accordance with U.S. GAAP. Further discussion on the Company’s revenues from contracts with customers and revenue recognition policies are included in Note 20 (Revenue from Contracts with Customers) to our consolidated financial statements in our 2024 Annual Report. The disaggregation of our revenues from contracts with customers were as follows:
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
|  | (In thousands) |
Term Life Insurance segment revenues: |  |  |  |  |  |  |  |  |  |  |  |
Other, net |  | $ | 12,189 |  |  | $ | 14,206 |  |  | $ | 37,155 |  |  | $ | 39,479 |
Total segment revenues from contracts with customers |  |  | 12,189 |  |  |  | 14,206 |  |  |  | 37,155 |  |  |  | 39,479 |
Revenues from sources other than contracts with customers |  |  | 451,112 |  |  |  | 436,100 |  |  |  | 1,325,820 |  |  |  | 1,278,182 |
Total Term Life Insurance segment revenues |  | $ | 463,301 |  |  | $ | 450,306 |  |  | $ | 1,362,975 |  |  | $ | 1,317,661 |
Investment and Savings Products segment revenues: |  |  |  |  |  |  |  |  |  |  |  |
Commissions and fees |  |  |  |  |  |  |  |  |  |  |  |
Sales-based revenues |  | $ | 118,637 |  |  | $ | 96,269 |  |  | $ | 345,841 |  |  | $ | 286,192 |
Asset-based revenues |  |  | 158,681 |  |  |  | 128,296 |  |  |  | 439,624 |  |  |  | 362,406 |
Account-based revenues |  |  | 24,420 |  |  |  | 24,107 |  |  |  | 73,008 |  |  |  | 71,027 |
Other, net |  |  | 3,445 |  |  |  | 3,646 |  |  |  | 10,013 |  |  |  | 10,128 |
Total segment revenues from contracts with customers |  |  | 305,183 |  |  |  | 252,318 |  |  |  | 868,486 |  |  |  | 729,753 |
Revenues from sources other than contracts with customers (segregated funds) |  |  | 13,605 |  |  |  | 13,755 |  |  |  | 39,412 |  |  |  | 40,942 |
Total Investment and Savings Products segment revenues |  | $ | 318,788 |  |  | $ | 266,073 |  |  | $ | 907,898 |  |  | $ | 770,695 |
Corporate and Other Distributed Products segment revenues: |  |  |  |  |  |  |  |  |  |  |  |
Commissions and fees |  | $ | 10,147 |  |  | $ | 9,474 |  |  | $ | 30,593 |  |  | $ | 28,472 |
Other, net |  |  | 1,098 |  |  |  | 1,251 |  |  |  | 3,093 |  |  |  | 2,719 |
Total segment revenues from contracts with customers |  |  | 11,245 |  |  |  | 10,725 |  |  |  | 33,686 |  |  |  | 31,191 |
Revenues from sources other than contracts with customers |  |  | 46,518 |  |  |  | 47,025 |  |  |  | 133,469 |  |  |  | 181,486 |
Total Corporate and Other Distributed Products segment revenues |  | $ | 57,763 |  |  | $ | 57,750 |  |  | $ | 167,155 |  |  | $ | 212,677 |
Renewal Commissions Receivable. For revenue associated with ongoing renewal commissions in the Corporate and Other Distributed Products segment, we record a renewal commission receivable contract asset for the amount of ongoing renewal commissions we anticipate collecting in reporting periods subsequent to the satisfaction of the performance obligation, less amounts that are constrained, in Other assets in the accompanying unaudited condensed consolidated balance sheets. The renewal commissions receivable is reduced for commissions that are billed and become due receivables from product providers during the reporting period. Activity in the renewal commissions receivable account was as follows:
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
|  | (In thousands) |
Balance, beginning of period |  | $ | 56,815 |  |  | $ | 59,880 |  |  | $ | 58,079 |  |  | $ | 61,372 |
Commissions revenue |  |  | 4,830 |  |  |  | 4,988 |  |  |  | 15,906 |  |  |  | 15,890 |
Less: collections |  |  | (6,207 | ) |  |  | (6,263 | ) |  |  | (18,547 | ) |  |  | (18,657 | )
Balance, at the end of period |  | $ | 55,438 |  |  | $ | 58,605 |  |  | $ | 55,438 |  |  | $ | 58,605 |
Incremental costs to obtain or fulfill contracts, most notably sales commissions to the independent sales representatives, are not incurred prior to the recognition of the related revenue. Therefore, we have no assets recognized for incremental costs to obtain or fulfill contracts.

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration