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v3.21.2

Revision of Immaterial Misstatement in Prior Year Financial Statements (Tables) | 9 Months Ended
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Sep. 30, 2021
Accounting Changes and Error Corrections [Abstract] |
Schedule of Error Corrections and Prior Period Adjustments | The following tables reconcile selected lines from the Company's year-end December 31, 2020 consolidated balance sheet and the three and nine months ended September 30, 2020 consolidated statement of comprehensive income from the previously reported amounts to the revised amounts.
Revised Consolidated Balance Sheet | Year Ended December 31, 2020
| As Reported |  | Adjustment |  | As Revised
| (Dollars in thousands)
Assets |  |  |  |  |
Deferred policy acquisition costs | $ | 2,045,812 |  |  | $ | 179,387 |  |  | $ | 2,225,199 |
Deferred sales inducements | 1,328,857 |  |  | 119,518 |  |  | 1,448,375 |
Total assets | 71,389,674 |  |  | 298,905 |  |  | 71,688,579 |
Liabilities and Stockholders' Equity |  |  |  |  |
Liabilities: |  |  |  |  |
Policy benefit reserves | 61,768,246 |  |  | 584,636 |  |  | 62,352,882 |
Deferred income taxes | 564,003 |  |  | (60,003) |  |  | 504,000 |
Total liabilities | 64,814,958 |  |  | 524,633 |  |  | 65,339,591 |
Stockholders' equity: |  |  |  |  |
Accumulated other comprehensive income | 2,429,285 |  |  | (225,728) |  |  | 2,203,557 |
Total stockholders' equity | 6,574,716 |  |  | (225,728) |  |  | 6,348,988 |
Total liabilities and stockholders' equity | 71,389,674 |  |  | 298,905 |  |  | 71,688,579 |
Revised Consolidated Statement of Comprehensive Income | Three Months Ended September 30, 2020
| As Reported |  | Adjustment |  | As Revised
| (Dollars in thousands)
Other comprehensive income: |  |  |  |  |
Change in net unrealized investment gains/losses (1) | $ | 494,154 |  |  | $ | (73,607) |  |  | $ | 420,547 |
Other comprehensive income before income tax | 496,546 |  |  | (73,607) |  |  | 422,939 |
Income tax effect related to other comprehensive income | (104,274) |  |  | 15,458 |  |  | (88,816) |
Other comprehensive income | 392,272 |  |  | (58,149) |  |  | 334,123 |
Comprehensive income | 1,059,472 |  |  | (58,149) |  |  | 1,001,323 |
| Nine Months Ended September 30, 2020
| As Reported |  | Adjustment |  | As Revised
| (Dollars in thousands)
Other comprehensive income: |  |  |  |  |
Change in net unrealized investment gains/losses (1) | $ | 767,646 |  |  | $ | (72,053) |  |  | $ | 695,593 |
Other comprehensive income before income tax | 777,456 |  |  | (72,053) |  |  | 705,403 |
Income tax effect related to other comprehensive income | (163,266) |  |  | 15,131 |  |  | (148,135) |
Other comprehensive income | 614,190 |  |  | (56,922) |  |  | 557,268 |
Comprehensive income | 1,276,908 |  |  | (56,922) |  |  | 1,219,986 |
(1)Net of related adjustments to amortization of deferred sales inducements, deferred policy acquisition costs and policy benefit reserves

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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794 + Details
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