XML 138 R38.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Income Taxes Income Tax (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2012
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Our income tax expense as presented in the consolidated financial statements is summarized as follows:
| Year Ended December 31,
| 2012 |  | 2011 |  | 2010
| (Dollars in thousands)
Consolidated statements of operations: |  |  |  |  |
Current income taxes | $ | 80,527 |  |  | $ | 127,535 |  |  | $ | 140,381 |
Deferred income taxes (benefits) | (52,336 | ) |  | (80,869 | ) |  | (118,048 | )
Total income tax expense included in consolidated statements of operations | 28,191 |  |  | 46,666 |  |  | 22,333 |
Stockholders' equity: |  |  |  |  |
Expense (benefit) relating to: |  |  |  |  |
Change in net unrealized investment losses | 123,620 |  |  | 202,143 |  |  | 60,456 |
Share-based compensation | (392 | ) |  | (1,061 | ) |  | (480 | )
Total income tax expense included in consolidated financial statements | $ | 151,419 |  |  | $ | 247,748 |  |  | $ | 82,309 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Income tax expense in the consolidated statements of operations differed from the amount computed at the applicable statutory federal income tax rate of 35% as follows:
| Year Ended December 31,
| 2012 |  | 2011 |  | 2010
| (Dollars in thousands)
Income before income taxes | $ | 85,989 |  |  | $ | 132,914 |  |  | $ | 65,266 |
Income tax expense on income before income taxes | $ | 30,096 |  |  | $ | 46,520 |  |  | $ | 22,843 |
Tax effect of: |  |  |  |  |
Tax exempt net investment income | (1,876 | ) |  | — |  |  | — |
Other | (29 | ) |  | 146 |  |  | (510 | )
Income tax expense | $ | 28,191 |  |  | $ | 46,666 |  |  | $ | 22,333 |
Effective tax rate | 32.8 | % |  | 35.1 | % |  | 34.2 | %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Deferred income tax assets or liabilities are established for temporary differences between the financial reporting amounts and tax bases of assets and liabilities that will result in deductible or taxable amounts, respectively, in future years. The tax effects of temporary differences that give rise to the deferred tax assets and liabilities at December 31, 2012 and 2011, are as follows:
| December 31,
| 2012 |  | 2011
| (Dollars in thousands)
Deferred income tax assets: |  |  |
Policy benefit reserves | $ | 1,698,831 |  |  | $ | 1,472,653 |
Other than temporary impairments | 8,177 |  |  | 9,072 |
Derivative instruments | — |  |  | 21,429 |
Other policyholder funds | 10,860 |  |  | 9,946 |
Litigation settlement accrual | 7,351 |  |  | — |
Deferred compensation | 14,659 |  |  | 15,576 |
Net operating loss carryforwards | 16,783 |  |  | 14,818 |
Other | 7,192 |  |  | 6,351 |
Gross deferred tax assets | 1,763,853 |  |  | 1,549,845 |
Deferred income tax liabilities: |  |  |
Deferred policy acquisition costs and deferred sales inducements | (1,425,266 | ) |  | (1,266,042 | )
Net unrealized gains on available for sale fixed maturity and equity securities | (357,686 | ) |  | (234,066 | )
Convertible senior notes | (6,665 | ) |  | (10,917 | )
Derivative instruments | (18,280 | ) |  | — |
Investment income items | (2,588 | ) |  | (4,315 | )
Other | (2,671 | ) |  | (12,524 | )
Gross deferred tax liabilities | (1,813,156 | ) |  | (1,527,864 | )
Net deferred income tax (liability) asset | $ | (49,303 | ) |  | $ | 21,981 |

X
- Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration