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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Investments:    
Fixed maturity securities, available for sale, at fair value (amortized cost of $42,304,736 as of 2020 and $48,238,946 as of 2019; allowance for credit losses of $64,771 as of 2020) $ 47,538,893 $ 51,580,490
Mortgage loans on real estate (net of allowance for credit losses of $31,029 as of 2020 and $9,179 as of 2019) 4,165,489 3,448,793
Derivative instruments 1,310,954 1,355,989
Other investments 590,078 492,301
Total investments 53,605,414 56,877,573
Cash and cash equivalents 9,095,522 2,293,392
Coinsurance deposits (net of allowance for credit losses of $1,888 as of 2020 and $0 as of 2019) 4,844,927 5,115,013
Accrued investment income 398,082 472,826
Deferred policy acquisition costs 2,045,812 2,923,454
Deferred sales inducements 1,328,857 1,966,723
Income taxes recoverable 862 0
Other assets 70,198 47,571
Total assets 71,389,674 69,696,552
Liabilities:    
Policy benefit reserves 61,768,246 61,893,945
Other policy funds and contract claims 240,904 256,105
Notes payable 495,668 495,116
Subordinated debentures 78,112 157,265
Deferred income taxes 564,003 177,897
Income taxes payable 0 429
Other liabilities 1,668,025 2,145,676
Total liabilities 64,814,958 65,126,433
Stockholders' equity:    
Common stock; par value $1 per share; 200,000,000 shares authorized; issued and outstanding: 2020 - 95,720,622 shares (excluding 6,516,525 treasury shares); 2019 - 91,107,555 shares (excluding 1,344,193 treasury shares) 95,721 91,107
Additional paid-in capital 1,681,127 1,212,311
Accumulated other comprehensive income 2,429,285 1,497,921
Retained earnings 2,368,555 1,768,764
Total stockholders' equity 6,574,716 4,570,119
Total liabilities and stockholders' equity 71,389,674 69,696,552
Preferred Stock, Series A    
Stockholders' equity:    
Preferred stock, value, issued 16 16
Preferred Stock, Series B    
Stockholders' equity:    
Preferred stock, value, issued $ 12 $ 0