v3.21.2

Deferred Commission Expense (Notes)

9 Months Ended

Sep. 30, 2021

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Deferred Commission Expense

Deferred Commission Expense

The Company pays an incremental amount of compensation in the form of producer commissions on new business. In accordance with ASC Topic 340, Other Assets and Deferred Costs, these incremental costs are deferred and amortized over five years, which represents management’s estimate of the average benefit period for new business. Deferred commission expense represents employee commissions that are capitalized and not yet expensed and are included in other assets on the condensed consolidated balance sheets. The table below provides a rollforward of deferred commission expense for each of the three and nine months ended September 30, 2021 and 2020:

						For the Three Months  Ended September 30,												For the Nine Months  Ended September 30,
(in thousands)						2021						2020						2021						2020
Balance at beginning of period						$	6,036					$	4,060					$	4,751					$	3,621
Costs capitalized						3,966						540						6,152						1,649
Amortization						(587)						(344)						(1,488)						(1,014)
Balance at end of period						$	9,415					$	4,256					$	9,415					$	4,256

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- References

No definition available.

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- Definition

Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.17)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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