Globe Life (GL) 10-Q 7 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 30, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	TORCHMARK CORP
Entity Central Index Key	320,335
Trading Symbol	TMK
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		113,557,007

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Investments:
Fixed maturities—available for sale, at fair value (amortized cost: 2018—$15,274,490; 2017—$14,995,101)	$ 16,635,885	$ 16,969,325
Policy loans	532,383	529,529
Other long-term investments (includes: 2018—$106,151; 2017—$0, under the fair value option)	168,621	108,559
Short-term investments	80,023	127,071
Total investments	17,416,912	17,734,484
Cash	88,615	118,563
Accrued investment income	240,817	233,453
Other receivables	396,379	391,775
Deferred acquisition costs	4,002,181	3,958,063
Goodwill	441,591	441,591
Other assets	527,258	528,536
Assets related to discontinued operations	68,590	68,520
Total assets	23,182,343	23,474,985
Liabilities:
Future policy benefits	13,571,585	13,439,472
Unearned and advance premiums	67,058	61,430
Policy claims and other benefits payable	333,760	333,294
Other policyholders' funds	97,468	97,635
Total policy liabilities	14,069,871	13,931,831
Current and deferred income taxes payable	1,216,687	1,312,002
Other liabilities	528,877	489,609
Short-term debt	365,156	328,067
Long-term debt (estimated fair value: 2018—$1,202,444; 2017—$1,228,392)	1,131,215	1,132,201
Liabilities related to discontinued operations	50,236	49,854
Total liabilities	17,362,042	17,243,564
Commitments and Contingencies (Note 6)
Shareholders’ equity:
Preferred stock, par value $1 per share—Authorized 5,000,000 shares; outstanding: -0- in 2018 and 2017	0	0
Common stock, par value $1 per share—Authorized 320,000,000 shares; outstanding: (2018—124,218,183 issued, less 10,396,436 held in treasury and 2017—124,218,183 issued, less 9,625,104 held in treasury)	124,218	124,218
Additional paid-in capital	508,941	508,476
Accumulated other comprehensive income	940,199	1,424,274
Retained earnings	4,955,608	4,806,208
Treasury stock, at cost	(708,665)	(631,755)
Total shareholders’ equity	5,820,301	6,231,421
Total liabilities and shareholders’ equity	$ 23,182,343	$ 23,474,985

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Fixed maturities, available for sale, amortized cost	$ 15,274,490	$ 14,995,101
Long-term debt, fair value	$ 1,202,444	$ 1,228,392
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	320,000,000	320,000,000
Common stock, shares issued (in shares)	124,218,183	124,218,183
Common stock, shares held in treasury (in shares)	10,396,436	9,625,104
Fair Value Option [Member]
Fair value option	$ 106,151
Partnership Interest [Member] | Fair Value Option [Member]
Fair value option	$ 106,000	$ 0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue:
Life premium	$ 598,303	$ 575,837
Health premium	251,798	244,791
Other premium	5	3
Total premium	850,106	820,631
Net investment income	218,084	208,282
Realized investment gains (losses)	1,951	(5,748)
Other income	295	416
Total revenue	1,070,436	1,023,581
Benefits and expenses:
Life policyholder benefits	400,581	391,079
Health policyholder benefits	160,619	157,751
Other policyholder benefits	8,689	8,946
Total policyholder benefits	569,889	557,776
Amortization of deferred acquisition costs	129,620	125,908
Commissions, premium taxes, and non-deferred acquisition costs	69,639	65,116
Other operating expense	66,824	62,341
Interest expense	21,622	20,699
Total benefits and expenses	857,594	831,840
Income before income taxes	212,842	191,741
Income taxes	(39,131)	(54,563)
Income from continuing operations	173,711	137,178
Income (loss) from discontinued operations, net of tax	(111)	(3,637)
Net income	$ 173,600	$ 133,541
Basic net income (loss) per common share:
Continuing operations (in dollars per share)	$ 1.52	$ 1.16
Discontinued operations (in dollars per share)	0	(0.03)
Total basic net income per common share (in dollars per share)	1.52	1.13
Diluted net income (loss) per common share:
Continuing operations (in dollars per share)	1.49	1.14
Discontinued operations (in dollars per share)	0	(0.03)
Total diluted net income per common share (in dollars per share)	1.49	1.11
Dividends declared per common share (in dollars per share)	$ 0.16	$ 0.15

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net income	$ 173,600	$ 133,541
Investments:
Total unrealized investment gains (losses)	(615,682)	215,066
Less applicable tax (expense) benefit	129,289	(75,323)
Unrealized investment gains (losses), net of tax	(486,393)	139,743
Deferred acquisition costs:
Unrealized gains (losses) attributable to deferred acquisition costs	450	(770)
Less applicable tax (expense) benefit	(94)	270
Unrealized gains (losses) attributable to deferred acquisition costs, net of tax	356	(500)
Foreign exchange translation:
Foreign exchange translation adjustments, other than securities	(1,299)	4,214
Less applicable tax (expense) benefit	276	(428)
Foreign exchange translation adjustments, other than securities, net of tax	(1,023)	3,786
Pension:
Amortization of pension costs	3,778	3,109
Experience gain (loss)	0	371
Pension adjustments	3,778	3,480
Less applicable tax (expense) benefit	(793)	(1,218)
Pension adjustments, net of tax	2,985	2,262
Other comprehensive income (loss)	(484,075)	145,291
Comprehensive income (loss)	(310,475)	278,832
Securities [Member]
Investments:
Unrealized holding gains (losses) arising during period	(611,548)	215,527
Reclassification adjustment for (gains) losses on securities included in net income	(1,386)	(1,035)
Reclassification adjustment for amortization of (discount) and premium	690	(437)
Foreign exchange adjustment on securities recorded at fair value	(585)	15
Unrealized gains (losses) on securities	(612,829)	214,070
Other Investments [Member]
Investments:
Unrealized gains (losses) on other investments	$ (2,853)	$ 996

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands		Total	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Treasury Stock [Member]
Stockholders' equity, beginning balance at Dec. 31, 2016		$ 4,566,861	$ 0	$ 127,218	$ 490,421	$ 577,574	$ 3,890,798	$ (519,150)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)		278,832				145,291	133,541
Common dividends declared ($0.15 in 2017 and $0.16 in 2018)		(17,567)					(17,567)
Acquisition of treasury stock		(113,719)						(113,719)
Stock-based compensation		8,195			1,351		(606)	7,450
Exercise of stock options		22,225					(11,501)	33,726
Stockholders' equity, ending balance at Mar. 31, 2017		4,744,827	0	127,218	491,772	722,865	3,994,665	(591,693)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of ASU 2016-01	[1]	4,896					4,896
Stockholders' equity, beginning balance at Dec. 31, 2017		6,231,421	0	124,218	508,476	1,424,274	4,806,208	(631,755)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)		(310,475)				(484,075)	173,600
Common dividends declared ($0.15 in 2017 and $0.16 in 2018)		(18,216)					(18,216)
Acquisition of treasury stock		(109,954)						(109,954)
Stock-based compensation		9,060			465		(1,803)	10,398
Exercise of stock options		13,569					(9,077)	22,646
Stockholders' equity, ending balance at Mar. 31, 2018		$ 5,820,301	$ 0	$ 124,218	$ 508,941	$ 940,199	$ 4,955,608	$ (708,665)
[1]	See further discussion in Note 2—New Accounting Standards and Note 4—Investments.

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 0.16	$ 0.15

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Cash Flows [Abstract]
Cash provided from operating activities	$ 382,389	$ 460,756
Investments sold or matured:
Fixed maturities available for sale—matured, called, and repaid	74,019	108,899
Other long-term investments	0	3,071
Total long-term investments sold or matured	74,019	111,970
Acquisition of investments:
Fixed maturities—available for sale	(358,753)	(461,324)
Other long-term investments	(53,853)	0
Total investments acquired	(412,606)	(461,324)
Net (increase) decrease in policy loans	(2,854)	(2,599)
Net (increase) decrease in short-term investments	47,048	(48,950)
Additions to property and equipment	(11,966)	(3,978)
Sale of other assets	0	18
Investment in low-income housing interests	(7,518)	(5,875)
Cash provided from (used for) investing activities	(313,877)	(410,738)
Cash provided from (used for) financing activities:
Issuance of common stock	13,569	22,225
Cash dividends paid to shareholders	(17,194)	(16,503)
Repayment of debt	(625)	0
Net borrowing (repayment) of commercial paper	36,464	61,919
Acquisition of treasury stock	(109,954)	(113,719)
Net receipts (payments) from deposit-type product	(25,603)	(21,174)
Cash provided from (used for) financing activities	(103,343)	(67,252)
Effect of foreign exchange rate changes on cash	4,883	2,825
Net increase (decrease) in cash	(29,948)	(14,409)
Cash at beginning of year	118,563	76,163
Cash at end of period	$ 88,615	$ 61,754

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation: The accompanying condensed consolidated financial statements of Torchmark Corporation (Torchmark or alternatively, the Company) have been prepared in accordance with the instructions to Form 10-Q. Therefore, they do not include all of the annual disclosures required by accounting principles generally accepted in the United States of America (GAAP). However, in the opinion of management, these statements include all adjustments, consisting of normal recurring adjustments, which are necessary for a fair presentation of the condensed consolidated financial position at March 31, 2018 , and the condensed consolidated results of operations, comprehensive income, and cash flows for the periods ended March 31, 2018 and 2017 . The interim period condensed consolidated financial statements should be read in conjunction with the Consolidated Financial Statements that are included in the Form 10-K filed with the Securities Exchange Commission (SEC) on February 26, 2018.

New Accounting Standards

New Accounting Standards	3 Months Ended
	Mar. 31, 2018
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	New Accounting Standards Accounting Pronouncements Adopted in the Current Year: ASU 2016-01: In January 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, which primarily revises the classification and measurement of certain equity investments such that they will be measured at fair value through net income. Additionally, the guidance eliminates the cost method for partnerships and joint ventures and requires these types of investments to be accounted for under the fair value through net income or equity method. This standard became effective for the Company on January 1, 2018. On January 1, 2018, the Company adopted this standard on a modified retrospective basis for two types of investments: equity securities and limited partnerships. The adoption resulted in a $4.9 million after tax positive adjustment to the opening balance of retained earnings. Subsequent to the adoption, the Company elected to measure its investment in the limited partnership at fair value in accordance with the fair value option for financial instruments with changes recognized in "Realized Investment Gains (Losses)" in the Condensed Consolidated Statements of Operations. As of March 31, 2018, the fair value balance of the limited partnerships were $106 million . See Note 4—Investments for further discussion. ASU 2016-15: In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments to provide uniformity in the classification of cash receipts and payments recorded in the statement of cash flows including debt prepayment or debt extinguishment costs, settlement of zero-coupon bonds, and proceeds from the settlement of insurance claims. This standard became effective on January 1, 2018 and did not have a significant impact to the classification on the Condensed Statement of Cash Flows . ASU 2016-16: In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfer of Assets Other Than Inventory. This guidance was issued to improve the accounting for income tax consequences of intra-entity transfers of assets other than inventory by allowing the immediate recognition of the current and deferred income tax effects. Current guidance prohibits the recognition of current and deferred income taxes for an intra-entity transfer until the asset has been sold to an outside party. This guidance is applied on a modified retrospective approach and became effective on January 1, 2018. This adoption did not have a significant impact on the financial statements. ASU 2017-07: In March 2017, the FASB issued ASU No. 2017-07, Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. This guidance was issued to simplify the reporting of pension costs by disaggregating the service-cost component from the other components of net benefit costs and reporting it separately on the income statement. The service-cost component is the only component of net benefit cost that will be eligible for capitalization. The guidance became effective on January 1, 2018 with a retrospective transition method for separation of net benefit costs and a prospective transition method for the capitalization of service costs. The Company will record approximately $3.5 million in additional expense to the 2018 Condensed Consolidated Statements of Operations due to the elimination of the ability to capitalize a portion of the benefit costs. For the three months ended March 31, 2018, the Company recorded $831 thousand in additional expense. ASU 2017-09: In May 2017, the FASB issued ASU No. 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting. This guidance was issued to provide clarity and guidance regarding changes to the terms or conditions of a share-based payment award that requires an entity to apply modification accounting. It became effective on January 1, 2018. The adoption had no significant impact on the financial statements as modifications to stock compensation are infrequent. ASU 2018-02 : In February 2018, the FASB issued ASU No. 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (AOCI) . This guidance was issued to allow the reclassification of taxes from AOCI to retained earnings as a result of the reduction in corporate income tax rates due to the Tax Cuts and Jobs Act of 2017 (Tax Legislation). Current accounting requires the effect of changes in tax rates used to measure deferred tax assets and liabilities to be reported in net income as of the date of enactment even though deferred taxes were previously recognized in AOCI (stranded taxes). This guidance, however, allows a company to elect to reclassify the stranded taxes in AOCI to retained earnings and is effective for years beginning after December 15, 2018, with early adoption permitted. The Company elected to early adopt this guidance resulting in a reclassification of $252 million from AOCI to retained earnings for the period ended December 31, 2017. Accounting Pronouncements Not Yet Adopted ASU 2016-02: In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires all lessees to report a right-of-use asset and a lease liability for leases with a term life greater than 12 months. Operating and financing leases will be recognized on the balance sheet going forward. Additional qualitative and quantitative disclosures will be required. This standard will become effective for the Company beginning January 1, 2019 and will require recognizing and measuring leases at the beginning of the earliest period presented using a modified retrospective approach. Early adoption is permitted. The Company does not expect the adoption to have a significant impact on the financial statements. Refer to Note 15—Commitments and Contingencies of the 2017 10-K for consideration of the noncancelable operating lease commitments. The Company is not a lessor. ASU 2016-13: In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments as well as to change the loss impairment methodology for available-for-sale debt securities by use of an allowance rather than a direct write-down. This standard will become effective on January 1, 2020. The applicable section of the standard related to debt securities requires a prospective transition. The Company does not expect the adoption to have a significant impact on the financial statements as we have limited credit losses with respect to our current available-for-sale portfolio. ASU 2017-04: In January 2017, the FASB issued ASU No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This guidance was issued to simplify the subsequent measurement of goodwill through the elimination of Step 2 from the goodwill impairment test which required a hypothetical purchase price allocation. It will become effective on January 1, 2020 and should be applied on a prospective basis. This adoption will not have an impact to the financial statements. ASU 2017-08: In March 2017, the FASB issued ASU No. 2017-08, Receivables—Nonrefundable Fees and Other Costs (Topic 310-20): Premium Amortization on Purchased Callable Debt Securities. This guidance was issued to shorten the amortization period for certain callable debt securities held at a premium. The guidance requires the premium to be amortized to the earliest call date. It will become effective on January 1, 2019 with early adoption permitted, including during interim periods. The adoption is to be applied on a modified retrospective basis through an adjustment to retained earnings. This adoption will not have a significant impact on the financial statements.

Supplemental Information about

Supplemental Information about Changes to Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Supplemental Information about Changes to Accumulated Other Comprehensive Income	Supplemental Information about Changes to Accumulated Other Comprehensive Income An analysis of the change in balance by component of Accumulated Other Comprehensive Income is as follows for the three month periods ended March 31, 2018 and 2017 . Components of Accumulated Other Comprehensive Income Three Months Ended March 31, 2018 Available Deferred Foreign Pension Total Balance at January 1, 2018 $ 1,569,289 $ (8,547 ) $ 16,302 $ (152,770 ) $ 1,424,274 Other comprehensive income (loss) before reclassifications, net of tax (485,843 ) 356 (1,023 ) — (486,510 ) Reclassifications, net of tax (550 ) — — 2,985 2,435 Other comprehensive income (loss) (486,393 ) 356 (1,023 ) 2,985 (484,075 ) Balance at March 31, 2018 $ 1,082,896 $ (8,191 ) $ 15,279 $ (149,785 ) $ 940,199 Three Months Ended March 31, 2017 Available Deferred Foreign Pension Total Balance at January 1, 2017 $ 692,314 $ (6,682 ) $ 4,967 $ (113,025 ) $ 577,574 Other comprehensive income (loss) before reclassifications, net of tax 140,700 (500 ) 3,786 241 144,227 Reclassifications, net of tax (957 ) — — 2,021 1,064 Other comprehensive income (loss) 139,743 (500 ) 3,786 2,262 145,291 Balance at March 31, 2017 $ 832,057 $ (7,182 ) $ 8,753 $ (110,763 ) $ 722,865 Reclassifications out of Accumulated Other Comprehensive Income are presented below for the three month periods ended March 31, 2018 and 2017 . Reclassification Adjustments Three Months Ended Affected line items in the Statement of Operations 2018 2017 Unrealized investment gains (losses) on available for sale assets: Realized (gains) losses $ (1,386 ) $ (1,035 ) Realized investment gains (losses) Amortization of (discount) premium 690 (437 ) Net investment income Total before tax (696 ) (1,472 ) Tax 146 515 Income taxes Total after tax (550 ) (957 ) Pension adjustments: Amortization of prior service cost 119 119 Other operating expense Amortization of actuarial gain (loss) 3,659 2,990 Other operating expense Total before tax 3,778 3,109 Tax (793 ) (1,088 ) Income taxes Total after tax 2,985 2,021 Total reclassifications (after tax) $ 2,435 $ 1,064

Investments

Investments	3 Months Ended
	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Portfolio Composition : A summary of fixed maturities available for sale by cost or amortized cost and estimated fair value at March 31, 2018 and December 31, 2017 is as follows: March 31, 2018: Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (1) % of Total Fixed Maturities (2) Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 394,548 $ 7,127 $ (2,397 ) $ 399,278 3 States, municipalities, and political subdivisions 1,219,749 113,694 (508 ) 1,332,935 8 Foreign governments 20,541 1,740 — 22,281 — Corporates, by sector: Financial 3,329,170 349,415 (31,568 ) 3,647,017 22 Utilities 1,963,247 296,546 (6,482 ) 2,253,311 14 Energy 1,614,917 175,301 (35,069 ) 1,755,149 11 Other corporate sectors 6,150,540 489,984 (65,084 ) 6,575,440 39 Total corporates 13,057,874 1,311,246 (138,203 ) 14,230,917 86 Collateralized debt obligations 58,473 23,518 (6,467 ) 75,524 — Other asset-backed securities 147,511 3,263 (362 ) 150,412 1 Redeemable preferred stocks, by sector: Financial 347,254 51,250 (3,783 ) 394,721 2 Utilities 28,540 1,598 (321 ) 29,817 — Total redeemable preferred stocks 375,794 52,848 (4,104 ) 424,538 2 Total fixed maturities $ 15,274,490 $ 1,513,436 $ (152,041 ) $ 16,635,885 100 (1) Amounts reported on the balance sheet. (2) At fair value. December 31, 2017: Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (1) % of Total Fixed Maturities (2) Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 390,646 $ 18,173 $ (1,373 ) $ 407,446 2 States, municipalities, and political subdivisions 1,091,960 127,890 (135 ) 1,219,715 7 Foreign governments 20,236 1,782 — 22,018 — Corporates, by sector: — Financial 3,282,526 475,961 (23,392 ) 3,735,095 22 Utilities 1,955,737 369,406 (1,298 ) 2,323,845 14 Energy 1,619,349 226,140 (25,392 ) 1,820,097 11 Other corporate sectors 6,065,803 747,612 (20,616 ) 6,792,799 40 Total corporates 12,923,415 1,819,119 (70,698 ) 14,671,836 87 Collateralized debt obligations 59,150 20,084 (7,653 ) 71,581 — Other asset-backed securities 144,520 4,835 — 149,355 1 Redeemable preferred stocks, by sector: Financial 336,621 62,892 (2,727 ) 396,786 3 Utilities 28,553 2,132 (97 ) 30,588 — Total redeemable preferred stocks 365,174 65,024 (2,824 ) 427,374 3 Total fixed maturities $ 14,995,101 $ 2,056,907 $ (82,683 ) $ 16,969,325 100 (1) Amounts reported on the balance sheet. (2) At fair value. A schedule of fixed maturities available for sale by contractual maturity date at March 31, 2018 is shown below on an amortized cost basis and on a fair value basis. Actual maturity dates could differ from contractual maturities due to call or prepayment provisions. March 31, 2018 Amortized Fair Value Fixed maturities available for sale: Due in one year or less $ 106,827 $ 107,973 Due after one year through five years 736,487 766,321 Due after five years through ten years 1,490,930 1,640,983 Due after ten years through twenty years 5,000,345 5,690,933 Due after twenty years 7,733,027 8,202,784 Mortgage-backed and asset-backed securities 206,874 226,891 $ 15,274,490 $ 16,635,885 There were no sales of fixed maturities available for sale in either quarter of March 31, 2018 or 2017. Fair Value Measurements : The following tables represents the fair value of fixed maturities available for sale measured on a recurring basis at March 31, 2018 and December 31, 2017 . Fair Value Measurements at March 31, 2018 using: Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ 399,278 $ — $ 399,278 States, municipalities, and political subdivisions — 1,332,935 — 1,332,935 Foreign governments — 22,281 — 22,281 Corporates, by sector: Financial — 3,586,007 61,010 3,647,017 Utilities — 2,103,085 150,226 2,253,311 Energy — 1,715,081 40,068 1,755,149 Other corporate sectors — 6,257,944 317,496 6,575,440 Total corporates — 13,662,117 568,800 14,230,917 Collateralized debt obligations — — 75,524 75,524 Other asset-backed securities — 137,225 13,187 150,412 Redeemable preferred stocks, by sector: Financial — 394,721 — 394,721 Utilities — 29,817 — 29,817 Total redeemable preferred stocks — 424,538 — 424,538 Total fixed maturities $ — $ 15,978,374 $ 657,511 $ 16,635,885 Percent of total — % 96.0 % 4.0 % 100.0 % Fair Value Measurements at December 31, 2017 using: Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ 407,446 $ — $ 407,446 States, municipalities, and political subdivisions 44 1,219,671 — 1,219,715 Foreign governments — 22,018 — 22,018 Corporates, by sector: — Financial — 3,673,089 62,006 3,735,095 Utilities — 2,168,115 155,730 2,323,845 Energy — 1,779,281 40,816 1,820,097 Other corporate sectors — 6,468,541 324,258 6,792,799 Total corporates — 14,089,026 582,810 14,671,836 Collateralized debt obligations — — 71,581 71,581 Other asset-backed securities — 135,306 14,049 149,355 Redeemable preferred stocks, by sector: Financial — 396,786 — 396,786 Utilities — 30,588 — 30,588 Total redeemable preferred stocks — 427,374 — 427,374 Total fixed maturities $ 44 $ 16,300,841 $ 668,440 $ 16,969,325 Percentage of total — % 96.1 % 3.9 % 100.0 % The following tables represent an analysis of changes in fair value measurements using significant unobservable inputs (Level 3) for the three months ended March 31, 2018 and 2017 . Analysis of Changes in Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended March 31, 2018 Asset- Collateralized Corporates (1) Total Balance at January 1, 2018 $ 14,049 $ 71,581 $ 582,810 $ 668,440 Total gains or losses: Included in realized gains/losses — — — — Included in other comprehensive income (749 ) 4,621 (12,233 ) (8,361 ) Acquisitions — — — — Sales — — — — Amortization — 1,201 4 1,205 Other (2) (113 ) (1,879 ) (1,781 ) (3,773 ) Transfers in and/or out of Level 3 (3) — — — — Balance at March 31, 2018 $ 13,187 $ 75,524 $ 568,800 $ 657,511 Percent of total fixed maturities 0.1 % 0.5 % 3.4 % 4.0 % Three Months Ended March 31, 2017 Asset- Collateralized Corporates (1) Total Balance at January 1, 2017 $ — $ 63,503 $ 559,600 $ 623,103 Total gains or losses: Included in realized gains/losses — — — — Included in other comprehensive income — 5,090 6,275 11,365 Acquisitions 14,000 — 21,666 35,666 Sales — — — — Amortization — 1,249 4 1,253 Other (2) — (1,999 ) (1,557 ) (3,556 ) Transfers in and/or out of Level 3 (3) — — — — Balance at March 31, 2017 $ 14,000 $ 67,843 $ 585,988 $ 667,831 Percent of total fixed maturities 0.1 % 0.4 % 3.7 % 4.2 % (1) Includes redeemable preferred stocks. (2) Includes capitalized interest, foreign exchange adjustments, and principal repayments. (3) Considered to be transferred at the end of the period. Transfers into Level 3 occur when observable inputs are no longer available. Transfers out of Level 3 occur when observable inputs become available. The following table presents transfers in and out of each of the valuation levels of fair values. Three Months Ended March 31, 2018 2017 In Out Net In Out Net Level 1 $ — $ — $ — $ 4 $ (597 ) $ (593 ) Level 2 — — — 597 (4 ) 593 Level 3 — — — — — — Fair Value Option : As discussed in Note 2—New Accounting Standards , the Company elected the fair value option in the first quarter of 2018, subsequent to the adoption of ASU 2016-01, to record its investment in limited partnerships at fair value with changes recognized in "Realized Investment Gains (Losses)" in the Condensed Consolidated Statements of Operations in accordance with ASC 825 . Dividends received on a semi-annual basis are recorded in Net Investment Income. The limited partnerships are recorded in Other Long-Term Investments on the Condensed Consolidated Balance Sheets . The following table represents the fair value of investments elected for the fair value option method measured on a recurring basis at March 31, 2018, and the changes in fair value for the three months ended March 31, 2018. Fair Value Measurements at March 31, 2018 Changes in Fair Values for the Period for Items Measured at Fair Value Pursuant to Election of the Fair Value Option Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Net Gains and Losses Recognized During the Period Less Net Gains and Losses Recognized due to Sales Total Changes in Fair Values Included in Current-Period Earnings Limited partnership $ — $ 106,151 $ — $ 106,151 $ 560 $ — $ 560 Other-Than-Temporary Impairments : In accordance with the other-than-temporary impairment (OTTI) policy, the Company evaluated its fixed maturities available for sale in an unrealized loss position to determine if there was any impairment for the quarter. Gross unrealized losses may fluctuate quarter over quarter due to adverse factors in the market that affect our holdings, such as changes in the interest rates or credit spreads. While the Company holds securities that may be in an unrealized loss position from time to time, Torchmark has the ability and intent to hold these investments to recovery. Additionally, Torchmark does not expect to be required to sell any of its securities due to the strong cash flows generated by its insurance operations. For the three months ended March 31, 2018 and 2017 , the Company concluded that there were no other-than-temporary impairments. Unrealized Loss Analysis : The following table discloses information about fixed maturities available for sale in an unrealized loss position. Less than Twelve Months Twelve Months or Longer Total Number of issues (CUSIP numbers) held: As of March 31, 2018 327 98 425 As of December 31, 2017 92 102 194 Torchmark’s entire fixed maturity portfolio consisted of 1,529 issues at March 31, 2018 and 1,502 issues at December 31, 2017 . The weighted average quality rating of all unrealized loss positions as of March 31, 2018 was BBB compared with BBB- as of December 31, 2017 . The following tables disclose unrealized investment losses by class and major sector of fixed maturities available for sale at March 31, 2018 and December 31, 2017 for the respective periods of time in a loss position. Torchmark considers these investments to be only temporarily impaired. Analysis of Gross Unrealized Investment Losses At March 31, 2018 Less than Twelve Months Twelve Months or Longer Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Investment grade securities: Bonds: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 82,042 $ (1,167 ) $ 43,914 $ (1,230 ) $ 125,956 $ (2,397 ) States, municipalities and political subdivisions 37,278 (495 ) 1,195 (13 ) 38,473 (508 ) Corporates, by sector: Financial 519,675 (12,606 ) 34,166 (2,445 ) 553,841 (15,051 ) Utilities 192,595 (5,154 ) 31,590 (1,328 ) 224,185 (6,482 ) Energy 161,511 (3,730 ) 51,640 (5,137 ) 213,151 (8,867 ) Other corporate sectors 1,185,926 (37,821 ) 156,415 (11,553 ) 1,342,341 (49,374 ) Total corporates 2,059,707 (59,311 ) 273,811 (20,463 ) 2,333,518 (79,774 ) Other asset-backed securities 17,663 (362 ) — — 17,663 (362 ) Redeemable preferred stocks, by sector: Financial 10,322 (516 ) — — 10,322 (516 ) Utilities — — 5,714 (321 ) 5,714 (321 ) Total redeemable preferred stocks 10,322 (516 ) 5,714 (321 ) 16,036 (837 ) Total investment grade securities 2,207,012 (61,851 ) 324,634 (22,027 ) 2,531,646 (83,878 ) Below investment grade securities: Bonds: States, municipalities and political subdivisions 15 — — — 15 — Corporates, by sector: Financial 26,116 (4,665 ) 63,104 (11,852 ) 89,220 (16,517 ) Energy 17,047 (182 ) 63,694 (26,020 ) 80,741 (26,202 ) Other corporate sectors 52,616 (5,819 ) 53,318 (9,891 ) 105,934 (15,710 ) Total corporates 95,779 (10,666 ) 180,116 (47,763 ) 275,895 (58,429 ) Collateralized debt obligations — — 13,533 (6,467 ) 13,533 (6,467 ) Redeemable preferred stocks, by sector: Financial — — 23,830 (3,267 ) 23,830 (3,267 ) Total redeemable preferred stocks — — 23,830 (3,267 ) 23,830 (3,267 ) Total below investment grade securities 95,794 (10,666 ) 217,479 (57,497 ) 313,273 (68,163 ) Total fixed maturities $ 2,302,806 $ (72,517 ) $ 542,113 $ (79,524 ) $ 2,844,919 $ (152,041 ) Analysis of Gross Unrealized Investment Losses At December 31, 2017 Less than Twelve Months Twelve Months or Longer Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Fixed maturities available for sale: Investment grade securities: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 34,388 $ (422 ) $ 47,514 $ (951 ) $ 81,902 $ (1,373 ) States, municipalities and political subdivisions 4,561 (21 ) 1,771 (9 ) 6,332 (30 ) Foreign governments — — — — — — Corporates, by sector: Financial 133,080 (652 ) 35,302 (1,429 ) 168,382 (2,081 ) Utilities 48,562 (569 ) 32,345 (729 ) 80,907 (1,298 ) Energy 23,463 (81 ) 67,775 (3,682 ) 91,238 (3,763 ) Metals and mining — — — — — — Other corporate sectors 220,661 (2,312 ) 163,886 (4,257 ) 384,547 (6,569 ) Total corporates 425,766 (3,614 ) 299,308 (10,097 ) 725,074 (13,711 ) Other asset-backed securities — — — — — — Redeemable preferred stocks, by sector: Utilities — — 5,953 (97 ) 5,953 (97 ) Total redeemable preferred stocks — — 5,953 (97 ) 5,953 (97 ) Total investment grade securities 464,715 (4,057 ) 354,546 (11,154 ) 819,261 (15,211 ) Below investment grade securities: States, municipalities and political subdivisions 200 (105 ) — — 200 (105 ) Corporates, by sector: Financial — — 84,432 (21,311 ) 84,432 (21,311 ) Energy 8,114 (104 ) 75,204 (21,525 ) 83,318 (21,629 ) Metals and mining — — — — — — Other corporate sectors 25,334 (5,066 ) 54,383 (8,981 ) 79,717 (14,047 ) Total corporates 33,448 (5,170 ) 214,019 (51,817 ) 247,467 (56,987 ) Collateralized debt obligations — — 12,347 (7,653 ) 12,347 (7,653 ) Redeemable preferred stocks, by sector: Financial — — 24,376 (2,727 ) 24,376 (2,727 ) Total redeemable preferred stocks — — 24,376 (2,727 ) 24,376 (2,727 ) Total below investment grade securities 33,648 (5,275 ) 250,742 (62,197 ) 284,390 (67,472 ) Total fixed maturities $ 498,363 $ (9,332 ) $ 605,288 $ (73,351 ) $ 1,103,651 $ (82,683 )

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes In 2017, newly enacted tax legislation revised the corporate income tax rate from 35% to 21% effective January 1, 2018. The change in tax rates was the primary reason for the difference in the Company’s effective tax rate as compared with the first quarter of FY 2017. The effective income tax rate differed from the expected rate as shown below: Three Months Ended March 31, 2018 % 2017 % Expected income taxes $ 44,697 21.0 $ 67,109 35.0 Increase (reduction) in income taxes resulting from: Low income housing investments (3,325 ) (1.6 ) (4,649 ) (2.4 ) Share-based awards (2,199 ) (1.0 ) (5,673 ) (3.0 ) Other (42 ) — (2,224 ) (1.2 ) Income tax expense (benefit) from continuing operations $ 39,131 18.4 $ 54,563 28.4 As of December 31, 2017, the Company recorded $877 million of tax benefits in net income as a result of re-measuring its deferred tax assets and liabilities using the lower corporate tax rate as of the legislation’s enactment date. The Company was able to determine that the adjustment recorded in 2017 was a reasonable estimate of the impact of the tax legislation in accordance with SAB 118. However, the Company has not completed its analysis and will continue to analyze relevant information to complete the accounting for income taxes which may result in an adjustment to tax expense in 2018. The accounting is expected to be complete when the 2017 U.S. corporate income tax returns are filed in 2018. The Company did not make any adjustments to this estimate for the period ended March 31, 2018 .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation : Torchmark and its subsidiaries, in common with the insurance industry in general, are subject to litigation, involving various matters where we are either the defendant or the plaintiff. Torchmark subsidiaries are also currently the subject of audits regarding the identification, reporting and escheatment of unclaimed property arising from life insurance policies and a limited number of annuity contracts. In each of these matters, based upon information presently available, management does not believe that such litigation or audits will have a material adverse effect on Torchmark’s financial condition, future operating results or liquidity. On February 1, 2018, putative class action litigation was filed against American Income Life Insurance Company in U.S. District Court for the Northern District of Texas, Dallas Division ( Bruce v. American Income Life Insurance Company, et al. , Case No. 3:18-cv-00258-G). The plaintiff, a former insurance sales agent of American Income who is suing on behalf of all current and former American Income sales agents contracted through State General Agent Stephen Jubrey’s agency office at any time since January 31, 2015 through the final disposition of this matter, asserts that such agents are employees rather than independent contractors as they are classified by American Income. He alleges failure to pay minimum wages, overtime wages and other applicable monies in accordance with the Fair Labor Standards Act. The plaintiff seeks, in a jury trial, actual and punitive damages, pre- and post-judgment interest, attorney fees, costs and other relief, including injunctive relief. On February 27, 2018, the Company filed a motion to compel arbitration of this matter and is awaiting the court’s decision as to the same. With respect to current litigation, at this time management believes that the possibility of a material judgment adverse to Torchmark is remote, and no estimate of range can be made for loss contingencies that are at least reasonably possible but not accrued. Guarantees: Torchmark has guaranteed letters of credit in connection with its credit facility with a group of banks. The letters of credit were issued by TMK Re, Ltd., a wholly-owned subsidiary, to secure TMK Re, Ltd.’s obligation for claims on certain policies reinsured by TMK Re, Ltd. that were sold by other Torchmark insurance companies. These letters of credit facilitate TMK Re, Ltd.’s ability to reinsure the business of Torchmark’s insurance carriers. The agreement expires in 2021. The maximum amount of letters of credit available is $250 million . Torchmark would be liable to the extent that TMK Re, Ltd. does not pay the reinsured party. On March 14, 2018, the letters of credit were amended to reduce the current amount outstanding to $155 million from $177 million as of December 31, 2017.

Liability for Unpaid Claims

Liability for Unpaid Claims	3 Months Ended
	Mar. 31, 2018
Insurance [Abstract]
Liability for Unpaid Claims	Liability for Unpaid Claims Activity in the liability for unpaid health claims is summarized as follows: Three Months Ended 2018 2017 Balance at beginning of period $ 146,865 $ 143,128 Incurred related to: Current year 134,542 135,377 Prior years (5,001 ) (4,024 ) Total incurred 129,541 131,353 Paid related to: Current year 55,130 54,241 Prior years 78,722 77,555 Total paid 133,852 131,796 Balance at end of period $ 142,554 $ 142,685 Below is the reconciliation of the liability for "Policy claims and other benefits payable" in the Condensed Consolidated Balance Sheets . March 31, December 31, 2017 Policy claims and other benefits payable: Life insurance $ 191,206 $ 186,429 Health insurance 142,554 146,865 Total $ 333,760 $ 333,294

Postretirement Benefit Plans

Postretirement Benefit Plans	3 Months Ended
	Mar. 31, 2018
Retirement Benefits [Abstract]
Postretirement Benefit Plans	Postretirement Benefits The following table presents a summary of post-retirement benefit costs by component. Components of Post-Retirement Benefit Costs Three Months Ended March 31, Pension Benefits Other Benefits 2018 2017 2018 2017 Service cost $ 5,277 $ 4,487 $ — $ — Interest cost 5,493 5,550 228 250 Expected return on assets (6,363 ) (5,899 ) — — Amortization: Prior service cost 119 119 — — Actuarial (gain)/loss 3,636 2,951 23 39 Direct recognition of expense — — 140 96 Net periodic benefit cost $ 8,162 $ 7,208 $ 391 $ 385 The following tables present the assets of Torchmark’s defined benefit pension plans for the years ended March 31, 2018 and December 31, 2017 . Pension Assets by Component at March 31, 2018 Fair Value Determined by: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Amount % to Total Corporate bonds: Financial $ $ 41,709 $ $ 41,709 11 Utilities 44,870 44,870 12 Energy 23,846 23,846 7 Other corporates 62,666 62,666 17 Total corporate bonds — 173,091 — 173,091 47 Exchange traded fund (1) 162,980 162,980 45 Other bonds 249 249 — Other long-term investments 2,439 2,439 1 Guaranteed annuity contract (2) 21,322 21,322 6 Short-term investments 2,070 2,070 — Other 3,623 3,623 1 Grand Total $ 168,673 $ 197,101 $ — $ 365,774 100 (1) A fund including marketable securities that mirror the S&P 500 index. (2) Representing a guaranteed annuity contract issued by Torchmark's subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Pension Plan. Pension Assets by Component at December 31, 2017 Fair Value Determined by: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Amount % to Total Corporate bonds: Financial $ $ 43,451 $ $ 43,451 12 Utilities 46,144 46,144 12 Energy 25,023 25,023 7 Other corporates 65,888 65,888 17 Total corporate bonds — 180,506 — 180,506 48 Exchange traded fund (1) 164,351 164,351 43 Other bonds 256 256 — Other long-term investments 2,304 2,304 1 Guaranteed annuity contract (2) 21,202 21,202 6 Short-term investments 3,984 3,984 1 Other 5,021 5,021 1 Grand Total $ 173,356 $ 204,268 $ — $ 377,624 100 (1) A fund including marketable securities that mirror the S&P 500 index. (2) Representing a guaranteed annuity contract issued by Torchmark's subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Pension Plan. The following table presents liabilities for the defined-benefit pension plans at March 31, 2018 and December 31, 2017 . Pension Liability March 31, December 31, 2017 Funded defined benefit pension $ 509,526 $ 518,140 SERPs (1) 84,828 84,465 Pension Benefit Obligation $ 594,354 $ 602,605 (1) Supplemental executive retirement plan (SERP). The following table includes information regarding the SERPs at March 31, 2018 and December 31, 2017 . March 31, December 31, 2017 Premiums paid for insurance coverage $ 1,047 $ 2,050 Total investments: Company owned life insurance $ 41,608 $ 40,273 Exchange traded funds 53,598 55,442 $ 95,206 $ 95,715 Liability: Active plan $ 82,200 $ 81,457 Closed plan 2,628 3,008

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share A reconciliation of basic and diluted weighted-average shares outstanding is as follows: Three Months Ended March 31, 2018 2017 Basic weighted average shares outstanding 114,179,084 117,770,474 Weighted average dilutive options outstanding 2,570,418 2,659,242 Diluted weighted average shares outstanding 116,749,502 120,429,716 Antidilutive shares 535,143 625,855

Business Segments

Business Segments	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Business Segments	Business Segments Torchmark's reportable segments are based on the insurance product lines it markets and administers: life insurance, health insurance, and annuities. These major product lines are set out as reportable segments because of the common characteristics of products within these categories, comparability of margins, and the similarity in regulatory environment and management techniques. Torchmark's chief operating decision makers evaluate the overall performance of the operations of the Company in accordance with these segments. Management’s measure of profitability for each insurance segment is insurance underwriting margin, which is underwriting income before other income and insurance administrative expenses. It represents the profit margin on insurance products before administrative expenses, and is calculated by deducting net policy obligations (claims incurred and change in reserves), commissions and other acquisition expenses from premium revenue. Torchmark further views the profitability of each insurance product segment by the marketing groups that distribute the products of that segment: direct response, independent agencies, or captive agencies. Torchmark’s management prefers to evaluate the performance of its underwriting and investment activities separately, rather than allocating investment income to the underwriting results. As such, the investment function is presented as a stand-alone segment. The investment segment includes the management of the investment portfolio, debt, and cash flow. Management’s measure of profitability for this segment is excess investment income, which is the income earned on the investment portfolio less the required interest on net policy liabilities and financing costs. Financing costs include the interest on Torchmark’s debt. Other income and insurance administrative expense are classified in a separate Other segment. The majority of the Company’s required interest on net policy liabilities (benefit reserves less the deferred acquisition cost asset) is not credited to policyholder accounts. Instead, it is an actuarial assumption for discounting cash flows in the computation of benefit reserves and the amortization of the deferred acquisition cost asset. Investment income required to fund the required interest on net policy liabilities is removed from the investment segment and applied to the insurance segments to eliminate the effect of the required interest from the insurance segments. As a result, the investment segment measures net investment income against the required interest on net policy liabilities and financing costs, while the insurance segments simply measure premiums against net policy benefits and expenses. Management believes this presentation facilitates a more meaningful analysis of the Company’s underwriting and investment performance as the underwriting results are based on premiums, claims, and expenses and are not affected by unanticipated fluctuations in investment yields. As noted, Torchmark’s core operations are insurance and investment management. The insurance segments issue policies for which premiums are collected for the eventual payment of policy benefits. In addition to policy benefits, operating expenses are incurred including acquisition costs, administrative expenses, and taxes. Because life and health contracts can be long term, premium receipts in excess of current expenses are invested. Investment activities, conducted by the investment segment, focus on seeking quality investments with a yield and term appropriate to support the insurance product obligations. These investments generally consist of fixed maturities, and, over the long term, the expected yields are taken into account when setting insurance premium rates and product profitability expectations. As a result, fixed maturities are generally held for long periods to support the liabilities, and Torchmark generally expects to hold investments until maturity. However, dispositions of investments occur from time to time, generally for reasons such as credit concerns, calls by issuers, or other factors. Since Torchmark does not actively trade investments, realized gains and losses from the disposition and write down of investments are generally incidental to operations and are not considered a material factor in insurance pricing or product profitability. While from time to time these realized gains and losses could be significant to net income in the period in which they occur, they generally have a limited effect on the yield of the total investment portfolio. Further, because the proceeds of the disposals are reinvested in the portfolio, the disposals have little effect on the size of the portfolio and the income from the reinvestments is included in net investment income. Therefore, management removes realized investment gains and losses from results of core operations when evaluating the performance of the Company. For this reason, these gains and losses are excluded from Torchmark’s operating segments. Torchmark accounts for its stock options and restricted stock under current accounting guidance requiring stock options and stock grants to be expensed based on fair value at the time of grant. Management considers stock compensation expense to be an expense of the Parent Company. Therefore, stock compensation expense is treated as a corporate expense in Torchmark’s segment analysis. The following tables set forth a reconciliation of Torchmark’s revenues and operations by segment to its pretax income and each significant line item in its Condensed Consolidated Statements of Operations . Reconciliation of Segment Operating Information to the Condensed Consolidated Statement of Operations Three Months Ended March 31, 2018 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 598,303 $ 251,798 $ 5 $ 850,106 Net investment income $ 218,084 218,084 Other income $ 323 $ (28 ) (2) 295 Total revenue 598,303 251,798 5 218,084 323 (28 ) 1,068,485 Expenses: Policy benefits 400,581 160,619 8,689 569,889 Required interest on reserves (156,214 ) (20,404 ) (12,017 ) 188,635 — Required interest on DAC 47,944 6,013 153 (54,110 ) — Amortization of acquisition costs 103,777 25,257 586 129,620 Commissions, premium taxes, and non-deferred acquisition costs 47,394 22,265 8 (28 ) (2) 69,639 Insurance administrative expense (1) 55,472 55,472 Parent expense 2,292 2,292 Stock-based compensation expense 9,060 9,060 Interest expense 21,622 21,622 Total expenses 443,482 193,750 (2,581 ) 156,147 66,824 (28 ) 857,594 Subtotal 154,821 58,048 2,586 61,937 (66,501 ) — 210,891 Non-operating items — — Measure of segment profitability (pretax) $ 154,821 $ 58,048 $ 2,586 $ 61,937 $ (66,501 ) $ — 210,891 Deduct applicable income taxes (38,721 ) Net operating income 172,170 Add back income taxes applicable to segment profitability 38,721 Add (deduct) realized investment gains (losses) 1,951 Income before income taxes per Condensed Consolidated Statements of Operations $ 212,842 (1) Administrative expense is not allocated to insurance segments. (2) Elimination of intersegment commission. Three Months Ended March 31, 2017 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 575,837 $ 244,791 $ 3 $ 820,631 Net investment income $ 208,282 208,282 Other income $ 451 $ (35 ) (2) 416 Total revenue 575,837 244,791 3 208,282 451 (35 ) 1,029,329 Expenses: Policy benefits 391,079 157,751 8,946 557,776 Required interest on reserves (148,825 ) (18,975 ) (12,418 ) 180,218 — Required interest on DAC 45,936 5,809 178 (51,923 ) — Amortization of acquisition costs 99,905 25,327 676 125,908 Commissions, premium taxes, and non-deferred acquisition costs 43,638 21,502 11 (35 ) (2) 65,116 Insurance administrative expense (1) 51,913 51,913 Parent expense 2,233 2,233 Stock-based compensation expense 8,195 8,195 Interest expense 20,699 20,699 Total expenses 431,733 191,414 (2,607 ) 148,994 62,341 (35 ) 831,840 Subtotal 144,104 53,377 2,610 59,288 (61,890 ) — 197,489 Non-operating items — — Measure of segment profitability (pretax) $ 144,104 $ 53,377 $ 2,610 $ 59,288 $ (61,890 ) $ — 197,489 Deduct applicable income taxes (58,818 ) Net operating income 138,671 Add back income taxes applicable to segment profitability 58,818 Add (deduct) realized investment gains (losses) (5,748 ) Income before income taxes per Condensed Consolidated Statements of Operations $ 191,741 (1) Administrative expense is not allocated to insurance segments. (2) Elimination of intersegment commission.

Significant Accounting Polici19

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The accompanying condensed consolidated financial statements of Torchmark Corporation (Torchmark or alternatively, the Company) have been prepared in accordance with the instructions to Form 10-Q. Therefore, they do not include all of the annual disclosures required by accounting principles generally accepted in the United States of America (GAAP). However, in the opinion of management, these statements include all adjustments, consisting of normal recurring adjustments, which are necessary for a fair presentation of the condensed consolidated financial position at March 31, 2018 , and the condensed consolidated results of operations, comprehensive income, and cash flows for the periods ended March 31, 2018 and 2017 . The interim period condensed consolidated financial statements should be read in conjunction with the Consolidated Financial Statements that are included in the Form 10-K filed with the Securities Exchange Commission (SEC) on February 26, 2018.
Accounting Pronouncements Adopted / Not Yet Adopted	Accounting Pronouncements Adopted in the Current Year: ASU 2016-01: In January 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, which primarily revises the classification and measurement of certain equity investments such that they will be measured at fair value through net income. Additionally, the guidance eliminates the cost method for partnerships and joint ventures and requires these types of investments to be accounted for under the fair value through net income or equity method. This standard became effective for the Company on January 1, 2018. On January 1, 2018, the Company adopted this standard on a modified retrospective basis for two types of investments: equity securities and limited partnerships. The adoption resulted in a $4.9 million after tax positive adjustment to the opening balance of retained earnings. Subsequent to the adoption, the Company elected to measure its investment in the limited partnership at fair value in accordance with the fair value option for financial instruments with changes recognized in "Realized Investment Gains (Losses)" in the Condensed Consolidated Statements of Operations. As of March 31, 2018, the fair value balance of the limited partnerships were $106 million . See Note 4—Investments for further discussion. ASU 2016-15: In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments to provide uniformity in the classification of cash receipts and payments recorded in the statement of cash flows including debt prepayment or debt extinguishment costs, settlement of zero-coupon bonds, and proceeds from the settlement of insurance claims. This standard became effective on January 1, 2018 and did not have a significant impact to the classification on the Condensed Statement of Cash Flows . ASU 2016-16: In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfer of Assets Other Than Inventory. This guidance was issued to improve the accounting for income tax consequences of intra-entity transfers of assets other than inventory by allowing the immediate recognition of the current and deferred income tax effects. Current guidance prohibits the recognition of current and deferred income taxes for an intra-entity transfer until the asset has been sold to an outside party. This guidance is applied on a modified retrospective approach and became effective on January 1, 2018. This adoption did not have a significant impact on the financial statements. ASU 2017-07: In March 2017, the FASB issued ASU No. 2017-07, Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. This guidance was issued to simplify the reporting of pension costs by disaggregating the service-cost component from the other components of net benefit costs and reporting it separately on the income statement. The service-cost component is the only component of net benefit cost that will be eligible for capitalization. The guidance became effective on January 1, 2018 with a retrospective transition method for separation of net benefit costs and a prospective transition method for the capitalization of service costs. The Company will record approximately $3.5 million in additional expense to the 2018 Condensed Consolidated Statements of Operations due to the elimination of the ability to capitalize a portion of the benefit costs. For the three months ended March 31, 2018, the Company recorded $831 thousand in additional expense. ASU 2017-09: In May 2017, the FASB issued ASU No. 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting. This guidance was issued to provide clarity and guidance regarding changes to the terms or conditions of a share-based payment award that requires an entity to apply modification accounting. It became effective on January 1, 2018. The adoption had no significant impact on the financial statements as modifications to stock compensation are infrequent. ASU 2018-02 : In February 2018, the FASB issued ASU No. 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (AOCI) . This guidance was issued to allow the reclassification of taxes from AOCI to retained earnings as a result of the reduction in corporate income tax rates due to the Tax Cuts and Jobs Act of 2017 (Tax Legislation). Current accounting requires the effect of changes in tax rates used to measure deferred tax assets and liabilities to be reported in net income as of the date of enactment even though deferred taxes were previously recognized in AOCI (stranded taxes). This guidance, however, allows a company to elect to reclassify the stranded taxes in AOCI to retained earnings and is effective for years beginning after December 15, 2018, with early adoption permitted. The Company elected to early adopt this guidance resulting in a reclassification of $252 million from AOCI to retained earnings for the period ended December 31, 2017. Accounting Pronouncements Not Yet Adopted ASU 2016-02: In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires all lessees to report a right-of-use asset and a lease liability for leases with a term life greater than 12 months. Operating and financing leases will be recognized on the balance sheet going forward. Additional qualitative and quantitative disclosures will be required. This standard will become effective for the Company beginning January 1, 2019 and will require recognizing and measuring leases at the beginning of the earliest period presented using a modified retrospective approach. Early adoption is permitted. The Company does not expect the adoption to have a significant impact on the financial statements. Refer to Note 15—Commitments and Contingencies of the 2017 10-K for consideration of the noncancelable operating lease commitments. The Company is not a lessor. ASU 2016-13: In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments as well as to change the loss impairment methodology for available-for-sale debt securities by use of an allowance rather than a direct write-down. This standard will become effective on January 1, 2020. The applicable section of the standard related to debt securities requires a prospective transition. The Company does not expect the adoption to have a significant impact on the financial statements as we have limited credit losses with respect to our current available-for-sale portfolio. ASU 2017-04: In January 2017, the FASB issued ASU No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This guidance was issued to simplify the subsequent measurement of goodwill through the elimination of Step 2 from the goodwill impairment test which required a hypothetical purchase price allocation. It will become effective on January 1, 2020 and should be applied on a prospective basis. This adoption will not have an impact to the financial statements. ASU 2017-08: In March 2017, the FASB issued ASU No. 2017-08, Receivables—Nonrefundable Fees and Other Costs (Topic 310-20): Premium Amortization on Purchased Callable Debt Securities. This guidance was issued to shorten the amortization period for certain callable debt securities held at a premium. The guidance requires the premium to be amortized to the earliest call date. It will become effective on January 1, 2019 with early adoption permitted, including during interim periods. The adoption is to be applied on a modified retrospective basis through an adjustment to retained earnings. This adoption will not have a significant impact on the financial statements.

Supplemental Information abou20

Supplemental Information about Changes to Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Schedule of Analysis of Change in Balance by Component of Accumulated Other Comprehensive Income	An analysis of the change in balance by component of Accumulated Other Comprehensive Income is as follows for the three month periods ended March 31, 2018 and 2017 . Components of Accumulated Other Comprehensive Income Three Months Ended March 31, 2018 Available Deferred Foreign Pension Total Balance at January 1, 2018 $ 1,569,289 $ (8,547 ) $ 16,302 $ (152,770 ) $ 1,424,274 Other comprehensive income (loss) before reclassifications, net of tax (485,843 ) 356 (1,023 ) — (486,510 ) Reclassifications, net of tax (550 ) — — 2,985 2,435 Other comprehensive income (loss) (486,393 ) 356 (1,023 ) 2,985 (484,075 ) Balance at March 31, 2018 $ 1,082,896 $ (8,191 ) $ 15,279 $ (149,785 ) $ 940,199 Three Months Ended March 31, 2017 Available Deferred Foreign Pension Total Balance at January 1, 2017 $ 692,314 $ (6,682 ) $ 4,967 $ (113,025 ) $ 577,574 Other comprehensive income (loss) before reclassifications, net of tax 140,700 (500 ) 3,786 241 144,227 Reclassifications, net of tax (957 ) — — 2,021 1,064 Other comprehensive income (loss) 139,743 (500 ) 3,786 2,262 145,291 Balance at March 31, 2017 $ 832,057 $ (7,182 ) $ 8,753 $ (110,763 ) $ 722,865
Summary of Reclassifications Out of Accumulated Other Comprehensive Income	Reclassifications out of Accumulated Other Comprehensive Income are presented below for the three month periods ended March 31, 2018 and 2017 . Reclassification Adjustments Three Months Ended Affected line items in the Statement of Operations 2018 2017 Unrealized investment gains (losses) on available for sale assets: Realized (gains) losses $ (1,386 ) $ (1,035 ) Realized investment gains (losses) Amortization of (discount) premium 690 (437 ) Net investment income Total before tax (696 ) (1,472 ) Tax 146 515 Income taxes Total after tax (550 ) (957 ) Pension adjustments: Amortization of prior service cost 119 119 Other operating expense Amortization of actuarial gain (loss) 3,659 2,990 Other operating expense Total before tax 3,778 3,109 Tax (793 ) (1,088 ) Income taxes Total after tax 2,985 2,021 Total reclassifications (after tax) $ 2,435 $ 1,064

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Summary of Fixed Maturities and Equity Securities Available for Sale by Cost or Amortized Cost and Estimated Fair Value	A summary of fixed maturities available for sale by cost or amortized cost and estimated fair value at March 31, 2018 and December 31, 2017 is as follows: March 31, 2018: Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (1) % of Total Fixed Maturities (2) Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 394,548 $ 7,127 $ (2,397 ) $ 399,278 3 States, municipalities, and political subdivisions 1,219,749 113,694 (508 ) 1,332,935 8 Foreign governments 20,541 1,740 — 22,281 — Corporates, by sector: Financial 3,329,170 349,415 (31,568 ) 3,647,017 22 Utilities 1,963,247 296,546 (6,482 ) 2,253,311 14 Energy 1,614,917 175,301 (35,069 ) 1,755,149 11 Other corporate sectors 6,150,540 489,984 (65,084 ) 6,575,440 39 Total corporates 13,057,874 1,311,246 (138,203 ) 14,230,917 86 Collateralized debt obligations 58,473 23,518 (6,467 ) 75,524 — Other asset-backed securities 147,511 3,263 (362 ) 150,412 1 Redeemable preferred stocks, by sector: Financial 347,254 51,250 (3,783 ) 394,721 2 Utilities 28,540 1,598 (321 ) 29,817 — Total redeemable preferred stocks 375,794 52,848 (4,104 ) 424,538 2 Total fixed maturities $ 15,274,490 $ 1,513,436 $ (152,041 ) $ 16,635,885 100 (1) Amounts reported on the balance sheet. (2) At fair value. December 31, 2017: Cost or Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (1) % of Total Fixed Maturities (2) Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 390,646 $ 18,173 $ (1,373 ) $ 407,446 2 States, municipalities, and political subdivisions 1,091,960 127,890 (135 ) 1,219,715 7 Foreign governments 20,236 1,782 — 22,018 — Corporates, by sector: — Financial 3,282,526 475,961 (23,392 ) 3,735,095 22 Utilities 1,955,737 369,406 (1,298 ) 2,323,845 14 Energy 1,619,349 226,140 (25,392 ) 1,820,097 11 Other corporate sectors 6,065,803 747,612 (20,616 ) 6,792,799 40 Total corporates 12,923,415 1,819,119 (70,698 ) 14,671,836 87 Collateralized debt obligations 59,150 20,084 (7,653 ) 71,581 — Other asset-backed securities 144,520 4,835 — 149,355 1 Redeemable preferred stocks, by sector: Financial 336,621 62,892 (2,727 ) 396,786 3 Utilities 28,553 2,132 (97 ) 30,588 — Total redeemable preferred stocks 365,174 65,024 (2,824 ) 427,374 3 Total fixed maturities $ 14,995,101 $ 2,056,907 $ (82,683 ) $ 16,969,325 100 (1) Amounts reported on the balance sheet. (2) At fair value.
Schedule of Fixed Maturities by Contractual Maturity Date	A schedule of fixed maturities available for sale by contractual maturity date at March 31, 2018 is shown below on an amortized cost basis and on a fair value basis. Actual maturity dates could differ from contractual maturities due to call or prepayment provisions. March 31, 2018 Amortized Fair Value Fixed maturities available for sale: Due in one year or less $ 106,827 $ 107,973 Due after one year through five years 736,487 766,321 Due after five years through ten years 1,490,930 1,640,983 Due after ten years through twenty years 5,000,345 5,690,933 Due after twenty years 7,733,027 8,202,784 Mortgage-backed and asset-backed securities 206,874 226,891 $ 15,274,490 $ 16,635,885
Schedule of Assets Measured at Fair Value on Recurring Basis	The following tables represents the fair value of fixed maturities available for sale measured on a recurring basis at March 31, 2018 and December 31, 2017 . Fair Value Measurements at March 31, 2018 using: Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ 399,278 $ — $ 399,278 States, municipalities, and political subdivisions — 1,332,935 — 1,332,935 Foreign governments — 22,281 — 22,281 Corporates, by sector: Financial — 3,586,007 61,010 3,647,017 Utilities — 2,103,085 150,226 2,253,311 Energy — 1,715,081 40,068 1,755,149 Other corporate sectors — 6,257,944 317,496 6,575,440 Total corporates — 13,662,117 568,800 14,230,917 Collateralized debt obligations — — 75,524 75,524 Other asset-backed securities — 137,225 13,187 150,412 Redeemable preferred stocks, by sector: Financial — 394,721 — 394,721 Utilities — 29,817 — 29,817 Total redeemable preferred stocks — 424,538 — 424,538 Total fixed maturities $ — $ 15,978,374 $ 657,511 $ 16,635,885 Percent of total — % 96.0 % 4.0 % 100.0 % Fair Value Measurements at December 31, 2017 using: Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Fixed maturities available for sale: U.S. Government direct, guaranteed, and government-sponsored enterprises $ — $ 407,446 $ — $ 407,446 States, municipalities, and political subdivisions 44 1,219,671 — 1,219,715 Foreign governments — 22,018 — 22,018 Corporates, by sector: — Financial — 3,673,089 62,006 3,735,095 Utilities — 2,168,115 155,730 2,323,845 Energy — 1,779,281 40,816 1,820,097 Other corporate sectors — 6,468,541 324,258 6,792,799 Total corporates — 14,089,026 582,810 14,671,836 Collateralized debt obligations — — 71,581 71,581 Other asset-backed securities — 135,306 14,049 149,355 Redeemable preferred stocks, by sector: Financial — 396,786 — 396,786 Utilities — 30,588 — 30,588 Total redeemable preferred stocks — 427,374 — 427,374 Total fixed maturities $ 44 $ 16,300,841 $ 668,440 $ 16,969,325 Percentage of total — % 96.1 % 3.9 % 100.0 %
Schedule of Analysis of Changes in Fair Value Measurements Using Significant Unobservable Inputs	The following tables represent an analysis of changes in fair value measurements using significant unobservable inputs (Level 3) for the three months ended March 31, 2018 and 2017 . Analysis of Changes in Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended March 31, 2018 Asset- Collateralized Corporates (1) Total Balance at January 1, 2018 $ 14,049 $ 71,581 $ 582,810 $ 668,440 Total gains or losses: Included in realized gains/losses — — — — Included in other comprehensive income (749 ) 4,621 (12,233 ) (8,361 ) Acquisitions — — — — Sales — — — — Amortization — 1,201 4 1,205 Other (2) (113 ) (1,879 ) (1,781 ) (3,773 ) Transfers in and/or out of Level 3 (3) — — — — Balance at March 31, 2018 $ 13,187 $ 75,524 $ 568,800 $ 657,511 Percent of total fixed maturities 0.1 % 0.5 % 3.4 % 4.0 % Three Months Ended March 31, 2017 Asset- Collateralized Corporates (1) Total Balance at January 1, 2017 $ — $ 63,503 $ 559,600 $ 623,103 Total gains or losses: Included in realized gains/losses — — — — Included in other comprehensive income — 5,090 6,275 11,365 Acquisitions 14,000 — 21,666 35,666 Sales — — — — Amortization — 1,249 4 1,253 Other (2) — (1,999 ) (1,557 ) (3,556 ) Transfers in and/or out of Level 3 (3) — — — — Balance at March 31, 2017 $ 14,000 $ 67,843 $ 585,988 $ 667,831 Percent of total fixed maturities 0.1 % 0.4 % 3.7 % 4.2 % (1) Includes redeemable preferred stocks. (2) Includes capitalized interest, foreign exchange adjustments, and principal repayments. (3) Considered to be transferred at the end of the period. Transfers into Level 3 occur when observable inputs are no longer available. Transfers out of Level 3 occur when observable inputs become available.
Transfers In And Out Of Each Of Valuation Levels Of Fair Values	The following table presents transfers in and out of each of the valuation levels of fair values. Three Months Ended March 31, 2018 2017 In Out Net In Out Net Level 1 $ — $ — $ — $ 4 $ (597 ) $ (593 ) Level 2 — — — 597 (4 ) 593 Level 3 — — — — — —
Fair Value of Investments Elected for the Fair Value Option	The following table represents the fair value of investments elected for the fair value option method measured on a recurring basis at March 31, 2018, and the changes in fair value for the three months ended March 31, 2018. Fair Value Measurements at March 31, 2018 Changes in Fair Values for the Period for Items Measured at Fair Value Pursuant to Election of the Fair Value Option Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Net Gains and Losses Recognized During the Period Less Net Gains and Losses Recognized due to Sales Total Changes in Fair Values Included in Current-Period Earnings Limited partnership $ — $ 106,151 $ — $ 106,151 $ 560 $ — $ 560
Schedule of Information About Investments in Unrealized Loss Position	The following table discloses information about fixed maturities available for sale in an unrealized loss position. Less than Twelve Months Twelve Months or Longer Total Number of issues (CUSIP numbers) held: As of March 31, 2018 327 98 425 As of December 31, 2017 92 102 194
Schedule of Unrealized Investment Losses by Class of Investment	The following tables disclose unrealized investment losses by class and major sector of fixed maturities available for sale at March 31, 2018 and December 31, 2017 for the respective periods of time in a loss position. Torchmark considers these investments to be only temporarily impaired. Analysis of Gross Unrealized Investment Losses At March 31, 2018 Less than Twelve Months Twelve Months or Longer Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Investment grade securities: Bonds: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 82,042 $ (1,167 ) $ 43,914 $ (1,230 ) $ 125,956 $ (2,397 ) States, municipalities and political subdivisions 37,278 (495 ) 1,195 (13 ) 38,473 (508 ) Corporates, by sector: Financial 519,675 (12,606 ) 34,166 (2,445 ) 553,841 (15,051 ) Utilities 192,595 (5,154 ) 31,590 (1,328 ) 224,185 (6,482 ) Energy 161,511 (3,730 ) 51,640 (5,137 ) 213,151 (8,867 ) Other corporate sectors 1,185,926 (37,821 ) 156,415 (11,553 ) 1,342,341 (49,374 ) Total corporates 2,059,707 (59,311 ) 273,811 (20,463 ) 2,333,518 (79,774 ) Other asset-backed securities 17,663 (362 ) — — 17,663 (362 ) Redeemable preferred stocks, by sector: Financial 10,322 (516 ) — — 10,322 (516 ) Utilities — — 5,714 (321 ) 5,714 (321 ) Total redeemable preferred stocks 10,322 (516 ) 5,714 (321 ) 16,036 (837 ) Total investment grade securities 2,207,012 (61,851 ) 324,634 (22,027 ) 2,531,646 (83,878 ) Below investment grade securities: Bonds: States, municipalities and political subdivisions 15 — — — 15 — Corporates, by sector: Financial 26,116 (4,665 ) 63,104 (11,852 ) 89,220 (16,517 ) Energy 17,047 (182 ) 63,694 (26,020 ) 80,741 (26,202 ) Other corporate sectors 52,616 (5,819 ) 53,318 (9,891 ) 105,934 (15,710 ) Total corporates 95,779 (10,666 ) 180,116 (47,763 ) 275,895 (58,429 ) Collateralized debt obligations — — 13,533 (6,467 ) 13,533 (6,467 ) Redeemable preferred stocks, by sector: Financial — — 23,830 (3,267 ) 23,830 (3,267 ) Total redeemable preferred stocks — — 23,830 (3,267 ) 23,830 (3,267 ) Total below investment grade securities 95,794 (10,666 ) 217,479 (57,497 ) 313,273 (68,163 ) Total fixed maturities $ 2,302,806 $ (72,517 ) $ 542,113 $ (79,524 ) $ 2,844,919 $ (152,041 ) Analysis of Gross Unrealized Investment Losses At December 31, 2017 Less than Twelve Months Twelve Months or Longer Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Fixed maturities available for sale: Investment grade securities: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 34,388 $ (422 ) $ 47,514 $ (951 ) $ 81,902 $ (1,373 ) States, municipalities and political subdivisions 4,561 (21 ) 1,771 (9 ) 6,332 (30 ) Foreign governments — — — — — — Corporates, by sector: Financial 133,080 (652 ) 35,302 (1,429 ) 168,382 (2,081 ) Utilities 48,562 (569 ) 32,345 (729 ) 80,907 (1,298 ) Energy 23,463 (81 ) 67,775 (3,682 ) 91,238 (3,763 ) Metals and mining — — — — — — Other corporate sectors 220,661 (2,312 ) 163,886 (4,257 ) 384,547 (6,569 ) Total corporates 425,766 (3,614 ) 299,308 (10,097 ) 725,074 (13,711 ) Other asset-backed securities — — — — — — Redeemable preferred stocks, by sector: Utilities — — 5,953 (97 ) 5,953 (97 ) Total redeemable preferred stocks — — 5,953 (97 ) 5,953 (97 ) Total investment grade securities 464,715 (4,057 ) 354,546 (11,154 ) 819,261 (15,211 ) Below investment grade securities: States, municipalities and political subdivisions 200 (105 ) — — 200 (105 ) Corporates, by sector: Financial — — 84,432 (21,311 ) 84,432 (21,311 ) Energy 8,114 (104 ) 75,204 (21,525 ) 83,318 (21,629 ) Metals and mining — — — — — — Other corporate sectors 25,334 (5,066 ) 54,383 (8,981 ) 79,717 (14,047 ) Total corporates 33,448 (5,170 ) 214,019 (51,817 ) 247,467 (56,987 ) Collateralized debt obligations — — 12,347 (7,653 ) 12,347 (7,653 ) Redeemable preferred stocks, by sector: Financial — — 24,376 (2,727 ) 24,376 (2,727 ) Total redeemable preferred stocks — — 24,376 (2,727 ) 24,376 (2,727 ) Total below investment grade securities 33,648 (5,275 ) 250,742 (62,197 ) 284,390 (67,472 ) Total fixed maturities $ 498,363 $ (9,332 ) $ 605,288 $ (73,351 ) $ 1,103,651 $ (82,683 )

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Summary of Effective Income Tax Rate	The effective income tax rate differed from the expected rate as shown below: Three Months Ended March 31, 2018 % 2017 % Expected income taxes $ 44,697 21.0 $ 67,109 35.0 Increase (reduction) in income taxes resulting from: Low income housing investments (3,325 ) (1.6 ) (4,649 ) (2.4 ) Share-based awards (2,199 ) (1.0 ) (5,673 ) (3.0 ) Other (42 ) — (2,224 ) (1.2 ) Income tax expense (benefit) from continuing operations $ 39,131 18.4 $ 54,563 28.4

Liability for Unpaid Claims (Ta

Liability for Unpaid Claims (Tables)	3 Months Ended
	Mar. 31, 2018
Insurance [Abstract]
Activity in the Liability for Unpaid Health Claims	Activity in the liability for unpaid health claims is summarized as follows: Three Months Ended 2018 2017 Balance at beginning of period $ 146,865 $ 143,128 Incurred related to: Current year 134,542 135,377 Prior years (5,001 ) (4,024 ) Total incurred 129,541 131,353 Paid related to: Current year 55,130 54,241 Prior years 78,722 77,555 Total paid 133,852 131,796 Balance at end of period $ 142,554 $ 142,685
Reconciliation of the Liability for Policy Claims and Other Benefits Payable	Below is the reconciliation of the liability for "Policy claims and other benefits payable" in the Condensed Consolidated Balance Sheets . March 31, December 31, 2017 Policy claims and other benefits payable: Life insurance $ 191,206 $ 186,429 Health insurance 142,554 146,865 Total $ 333,760 $ 333,294

Postretirement Benefit Plans (T

Postretirement Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2018
Retirement Benefits [Abstract]
Summary of Post-Retirement Benefit Costs by Component	The following table presents a summary of post-retirement benefit costs by component. Components of Post-Retirement Benefit Costs Three Months Ended March 31, Pension Benefits Other Benefits 2018 2017 2018 2017 Service cost $ 5,277 $ 4,487 $ — $ — Interest cost 5,493 5,550 228 250 Expected return on assets (6,363 ) (5,899 ) — — Amortization: Prior service cost 119 119 — — Actuarial (gain)/loss 3,636 2,951 23 39 Direct recognition of expense — — 140 96 Net periodic benefit cost $ 8,162 $ 7,208 $ 391 $ 385
Schedule of Assets at Fair Value for Defined-Benefit Pension Plans	The following tables present the assets of Torchmark’s defined benefit pension plans for the years ended March 31, 2018 and December 31, 2017 . Pension Assets by Component at March 31, 2018 Fair Value Determined by: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Amount % to Total Corporate bonds: Financial $ $ 41,709 $ $ 41,709 11 Utilities 44,870 44,870 12 Energy 23,846 23,846 7 Other corporates 62,666 62,666 17 Total corporate bonds — 173,091 — 173,091 47 Exchange traded fund (1) 162,980 162,980 45 Other bonds 249 249 — Other long-term investments 2,439 2,439 1 Guaranteed annuity contract (2) 21,322 21,322 6 Short-term investments 2,070 2,070 — Other 3,623 3,623 1 Grand Total $ 168,673 $ 197,101 $ — $ 365,774 100 (1) A fund including marketable securities that mirror the S&P 500 index. (2) Representing a guaranteed annuity contract issued by Torchmark's subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Pension Plan. Pension Assets by Component at December 31, 2017 Fair Value Determined by: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Amount % to Total Corporate bonds: Financial $ $ 43,451 $ $ 43,451 12 Utilities 46,144 46,144 12 Energy 25,023 25,023 7 Other corporates 65,888 65,888 17 Total corporate bonds — 180,506 — 180,506 48 Exchange traded fund (1) 164,351 164,351 43 Other bonds 256 256 — Other long-term investments 2,304 2,304 1 Guaranteed annuity contract (2) 21,202 21,202 6 Short-term investments 3,984 3,984 1 Other 5,021 5,021 1 Grand Total $ 173,356 $ 204,268 $ — $ 377,624 100 (1) A fund including marketable securities that mirror the S&P 500 index. (2) Representing a guaranteed annuity contract issued by Torchmark's subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Pension Plan.
Pension Liability	The following table presents liabilities for the defined-benefit pension plans at March 31, 2018 and December 31, 2017 . Pension Liability March 31, December 31, 2017 Funded defined benefit pension $ 509,526 $ 518,140 SERPs (1) 84,828 84,465 Pension Benefit Obligation $ 594,354 $ 602,605 (1) Supplemental executive retirement plan (SERP).
Schedule of Defined Benefit Plans Disclosures	The following table includes information regarding the SERPs at March 31, 2018 and December 31, 2017 . March 31, December 31, 2017 Premiums paid for insurance coverage $ 1,047 $ 2,050 Total investments: Company owned life insurance $ 41,608 $ 40,273 Exchange traded funds 53,598 55,442 $ 95,206 $ 95,715 Liability: Active plan $ 82,200 $ 81,457 Closed plan 2,628 3,008

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Reconciliation of Basic and Diluted Weighted-Average Shares Outstanding	A reconciliation of basic and diluted weighted-average shares outstanding is as follows: Three Months Ended March 31, 2018 2017 Basic weighted average shares outstanding 114,179,084 117,770,474 Weighted average dilutive options outstanding 2,570,418 2,659,242 Diluted weighted average shares outstanding 116,749,502 120,429,716 Antidilutive shares 535,143 625,855

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Reconciliation of Segment Operating Information to Consolidated Statement of Operations	The following tables set forth a reconciliation of Torchmark’s revenues and operations by segment to its pretax income and each significant line item in its Condensed Consolidated Statements of Operations . Reconciliation of Segment Operating Information to the Condensed Consolidated Statement of Operations Three Months Ended March 31, 2018 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 598,303 $ 251,798 $ 5 $ 850,106 Net investment income $ 218,084 218,084 Other income $ 323 $ (28 ) (2) 295 Total revenue 598,303 251,798 5 218,084 323 (28 ) 1,068,485 Expenses: Policy benefits 400,581 160,619 8,689 569,889 Required interest on reserves (156,214 ) (20,404 ) (12,017 ) 188,635 — Required interest on DAC 47,944 6,013 153 (54,110 ) — Amortization of acquisition costs 103,777 25,257 586 129,620 Commissions, premium taxes, and non-deferred acquisition costs 47,394 22,265 8 (28 ) (2) 69,639 Insurance administrative expense (1) 55,472 55,472 Parent expense 2,292 2,292 Stock-based compensation expense 9,060 9,060 Interest expense 21,622 21,622 Total expenses 443,482 193,750 (2,581 ) 156,147 66,824 (28 ) 857,594 Subtotal 154,821 58,048 2,586 61,937 (66,501 ) — 210,891 Non-operating items — — Measure of segment profitability (pretax) $ 154,821 $ 58,048 $ 2,586 $ 61,937 $ (66,501 ) $ — 210,891 Deduct applicable income taxes (38,721 ) Net operating income 172,170 Add back income taxes applicable to segment profitability 38,721 Add (deduct) realized investment gains (losses) 1,951 Income before income taxes per Condensed Consolidated Statements of Operations $ 212,842 (1) Administrative expense is not allocated to insurance segments. (2) Elimination of intersegment commission. Three Months Ended March 31, 2017 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 575,837 $ 244,791 $ 3 $ 820,631 Net investment income $ 208,282 208,282 Other income $ 451 $ (35 ) (2) 416 Total revenue 575,837 244,791 3 208,282 451 (35 ) 1,029,329 Expenses: Policy benefits 391,079 157,751 8,946 557,776 Required interest on reserves (148,825 ) (18,975 ) (12,418 ) 180,218 — Required interest on DAC 45,936 5,809 178 (51,923 ) — Amortization of acquisition costs 99,905 25,327 676 125,908 Commissions, premium taxes, and non-deferred acquisition costs 43,638 21,502 11 (35 ) (2) 65,116 Insurance administrative expense (1) 51,913 51,913 Parent expense 2,233 2,233 Stock-based compensation expense 8,195 8,195 Interest expense 20,699 20,699 Total expenses 431,733 191,414 (2,607 ) 148,994 62,341 (35 ) 831,840 Subtotal 144,104 53,377 2,610 59,288 (61,890 ) — 197,489 Non-operating items — — Measure of segment profitability (pretax) $ 144,104 $ 53,377 $ 2,610 $ 59,288 $ (61,890 ) $ — 197,489 Deduct applicable income taxes (58,818 ) Net operating income 138,671 Add back income taxes applicable to segment profitability 58,818 Add (deduct) realized investment gains (losses) (5,748 ) Income before income taxes per Condensed Consolidated Statements of Operations $ 191,741 (1) Administrative expense is not allocated to insurance segments. (2) Elimination of intersegment commission.

New Accounting Standards (Detai

New Accounting Standards (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
		Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings		$ 4,955,608		$ 4,806,208
Impact of ASU on financial statements	[1]			(4,896)
Accounting Standards Update 2016-01 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings					$ 4,900
Accounting Standards Update 2018-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification from AOCI to retained earnings				252,000
Accounting Standards Update 2017-07 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit costs		831
Scenario, Forecast [Member] | Accounting Standards Update 2017-07 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit costs			$ 3,500
Fair Value Option [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Investments, fair value disclosure		106,151
Partnership Interest [Member] | Fair Value Option [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Investments, fair value disclosure		$ 106,000		$ 0
[1]	See further discussion in Note 2—New Accounting Standards and Note 4—Investments.

Supplemental Information abou28

Supplemental Information about Changes to Accumulated Other Comprehensive Income - Schedule of Analysis of Change in Balance by Component of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	$ 6,231,421	$ 4,566,861
Other comprehensive income (loss) before reclassifications, net of tax	(486,510)	144,227
Reclassifications, net of tax	2,435	1,064
Other comprehensive income (loss)	(484,075)	145,291
Stockholders' equity, ending balance	5,820,301	4,744,827
Available for Sale Assets [Member]
Accumulated Other Comprehensive Income, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	1,569,289	692,314
Other comprehensive income (loss) before reclassifications, net of tax	(485,843)	140,700
Reclassifications, net of tax	(550)	(957)
Other comprehensive income (loss)	(486,393)	139,743
Stockholders' equity, ending balance	1,082,896	832,057
Deferred Acquisition Costs [Member]
Accumulated Other Comprehensive Income, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	(8,547)	(6,682)
Other comprehensive income (loss) before reclassifications, net of tax	356	(500)
Reclassifications, net of tax	0	0
Other comprehensive income (loss)	356	(500)
Stockholders' equity, ending balance	(8,191)	(7,182)
Foreign Exchange [Member]
Accumulated Other Comprehensive Income, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	16,302	4,967
Other comprehensive income (loss) before reclassifications, net of tax	(1,023)	3,786
Reclassifications, net of tax	0	0
Other comprehensive income (loss)	(1,023)	3,786
Stockholders' equity, ending balance	15,279	8,753
Pension Adjustments [Member]
Accumulated Other Comprehensive Income, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	(152,770)	(113,025)
Other comprehensive income (loss) before reclassifications, net of tax	0	241
Reclassifications, net of tax	2,985	2,021
Other comprehensive income (loss)	2,985	2,262
Stockholders' equity, ending balance	(149,785)	(110,763)
Total [Member]
Accumulated Other Comprehensive Income, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	1,424,274	577,574
Stockholders' equity, ending balance	$ 940,199	$ 722,865

Supplemental Information abou29

Supplemental Information about Changes to Accumulated Other Comprehensive Income - Summary of Reclassification out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Unrealized investment gains (losses) on available for sale assets:
Realized (gains) losses	$ (1,951)	$ 5,748
Amortization of (discount) premium	(218,084)	(208,282)
Total before tax	(212,842)	(191,741)
Tax	39,131	54,563
Net income	(173,600)	(133,541)
Pension adjustments:
Total reclassifications (after tax)	2,435	1,064
Unrealized Investment Gains (Losses) on Available for Sale Assets [Member]
Pension adjustments:
Total reclassifications (after tax)	(550)	(957)
Amortization of Prior Service Cost [Member]
Pension adjustments:
Pension adjustments reclassified out of accumulated other comprehensive income	119	119
Amortization of Actuarial Gain (Loss) [Member]
Pension adjustments:
Pension adjustments reclassified out of accumulated other comprehensive income	3,659	2,990
Pension Adjustments [Member]
Pension adjustments:
Pension adjustments reclassified out of accumulated other comprehensive income	3,778	3,109
Tax	(793)	(1,088)
Total reclassifications (after tax)	2,985	2,021
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Investment Gains (Losses) on Available for Sale Assets [Member]
Unrealized investment gains (losses) on available for sale assets:
Realized (gains) losses	(1,386)	(1,035)
Amortization of (discount) premium	690	(437)
Total before tax	(696)	(1,472)
Tax	146	515
Net income	$ (550)	$ (957)

Investments - Summary of Fixed

Investments - Summary of Fixed Maturities Available for Sale by Component (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	$ 15,274,490	$ 14,995,101
Fair Value	16,635,885	16,969,325
Fixed maturities available for sale [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	15,274,490	14,995,101
Gross Unrealized Gains	1,513,436	2,056,907
Gross Unrealized Losses	(152,041)	(82,683)
Fair Value	$ 16,635,885	$ 16,969,325
Percentage of Total Fixed Maturities At Fair Value	100.00%	100.00%
Fixed maturities available for sale [Member] | U.S. Government direct, guaranteed, and government-sponsored enterprises [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	$ 394,548	$ 390,646
Gross Unrealized Gains	7,127	18,173
Gross Unrealized Losses	(2,397)	(1,373)
Fair Value	$ 399,278	$ 407,446
Percentage of Total Fixed Maturities At Fair Value	3.00%	2.00%
Fixed maturities available for sale [Member] | States, municipalities, and political subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	$ 1,219,749	$ 1,091,960
Gross Unrealized Gains	113,694	127,890
Gross Unrealized Losses	(508)	(135)
Fair Value	$ 1,332,935	$ 1,219,715
Percentage of Total Fixed Maturities At Fair Value	8.00%	7.00%
Fixed maturities available for sale [Member] | Foreign governments [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	$ 20,541	$ 20,236
Gross Unrealized Gains	1,740	1,782
Gross Unrealized Losses	0	0
Fair Value	$ 22,281	$ 22,018
Percentage of Total Fixed Maturities At Fair Value	0.00%	0.00%
Fixed maturities available for sale [Member] | Corporates [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	$ 13,057,874	$ 12,923,415
Gross Unrealized Gains	1,311,246	1,819,119
Gross Unrealized Losses	(138,203)	(70,698)
Fair Value	$ 14,230,917	$ 14,671,836
Percentage of Total Fixed Maturities At Fair Value	86.00%	87.00%
Fixed maturities available for sale [Member] | Corporates [Member] | Financial [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	$ 3,329,170	$ 3,282,526
Gross Unrealized Gains	349,415	475,961
Gross Unrealized Losses	(31,568)	(23,392)
Fair Value	$ 3,647,017	$ 3,735,095
Percentage of Total Fixed Maturities At Fair Value	22.00%	22.00%
Fixed maturities available for sale [Member] | Corporates [Member] | Utilities [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	$ 1,963,247	$ 1,955,737
Gross Unrealized Gains	296,546	369,406
Gross Unrealized Losses	(6,482)	(1,298)
Fair Value	$ 2,253,311	$ 2,323,845
Percentage of Total Fixed Maturities At Fair Value	14.00%	14.00%
Fixed maturities available for sale [Member] | Corporates [Member] | Energy [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	$ 1,614,917	$ 1,619,349
Gross Unrealized Gains	175,301	226,140
Gross Unrealized Losses	(35,069)	(25,392)
Fair Value	$ 1,755,149	$ 1,820,097
Percentage of Total Fixed Maturities At Fair Value	11.00%	11.00%
Fixed maturities available for sale [Member] | Corporates [Member] | Other corporate sectors [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	$ 6,150,540	$ 6,065,803
Gross Unrealized Gains	489,984	747,612
Gross Unrealized Losses	(65,084)	(20,616)
Fair Value	$ 6,575,440	$ 6,792,799
Percentage of Total Fixed Maturities At Fair Value	39.00%	40.00%
Fixed maturities available for sale [Member] | Collateralized debt obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	$ 58,473	$ 59,150
Gross Unrealized Gains	23,518	20,084
Gross Unrealized Losses	(6,467)	(7,653)
Fair Value	$ 75,524	$ 71,581
Percentage of Total Fixed Maturities At Fair Value	0.00%	0.00%
Fixed maturities available for sale [Member] | Other asset-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	$ 147,511	$ 144,520
Gross Unrealized Gains	3,263	4,835
Gross Unrealized Losses	(362)	0
Fair Value	$ 150,412	$ 149,355
Percentage of Total Fixed Maturities At Fair Value	1.00%	1.00%
Fixed maturities available for sale [Member] | Redeemable preferred stocks [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	$ 375,794	$ 365,174
Gross Unrealized Gains	52,848	65,024
Gross Unrealized Losses	(4,104)	(2,824)
Fair Value	$ 424,538	$ 427,374
Percentage of Total Fixed Maturities At Fair Value	2.00%	3.00%
Fixed maturities available for sale [Member] | Redeemable preferred stocks [Member] | Financial [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	$ 347,254	$ 336,621
Gross Unrealized Gains	51,250	62,892
Gross Unrealized Losses	(3,783)	(2,727)
Fair Value	$ 394,721	$ 396,786
Percentage of Total Fixed Maturities At Fair Value	2.00%	3.00%
Fixed maturities available for sale [Member] | Redeemable preferred stocks [Member] | Utilities [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	$ 28,540	$ 28,553
Gross Unrealized Gains	1,598	2,132
Gross Unrealized Losses	(321)	(97)
Fair Value	$ 29,817	$ 30,588
Percentage of Total Fixed Maturities At Fair Value	0.00%	0.00%

Investments - Schedule of Fixed

Investments - Schedule of Fixed Maturities by Contractual Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Amortized Cost
Due in one year or less	$ 106,827
Due after one year through five years	736,487
Due after five years through ten years	1,490,930
Due after ten years through twenty years	5,000,345
Due after twenty years	7,733,027
Mortgage-backed and asset-backed securities	206,874
Cost or Amortized Cost	15,274,490	$ 14,995,101
Fair Value
Due in one year or less	107,973
Due after one year through five years	766,321
Due after five years through ten years	1,640,983
Due after ten years through twenty years	5,690,933
Due after twenty years	8,202,784
Mortgage-backed and asset-backed securities	226,891
Fair Value	$ 16,635,885	$ 16,969,325

Investments - Assets Measured a

Investments - Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 16,635,885	$ 16,969,325
Percent of total	100.00%	100.00%
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percent of total	0.00%	0.00%
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percent of total	96.00%	96.10%
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percent of total	4.00%	3.90%
Fixed maturities available for sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 16,635,885	$ 16,969,325
Fixed maturities available for sale [Member] | U.S. Government direct, guaranteed, and government-sponsored enterprises [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	399,278	407,446
Fixed maturities available for sale [Member] | States, municipalities, and political subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,332,935	1,219,715
Fixed maturities available for sale [Member] | Foreign governments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	22,281	22,018
Fixed maturities available for sale [Member] | Corporates [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	14,230,917	14,671,836
Fixed maturities available for sale [Member] | Corporates [Member] | Financial [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	3,647,017	3,735,095
Fixed maturities available for sale [Member] | Corporates [Member] | Utilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	2,253,311	2,323,845
Fixed maturities available for sale [Member] | Corporates [Member] | Energy [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,755,149	1,820,097
Fixed maturities available for sale [Member] | Corporates [Member] | Other corporate sectors [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	6,575,440	6,792,799
Fixed maturities available for sale [Member] | Collateralized debt obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	75,524	71,581
Fixed maturities available for sale [Member] | Other asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	150,412	149,355
Fixed maturities available for sale [Member] | Redeemable preferred stocks [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	424,538	427,374
Fixed maturities available for sale [Member] | Redeemable preferred stocks [Member] | Financial [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	394,721	396,786
Fixed maturities available for sale [Member] | Redeemable preferred stocks [Member] | Utilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	29,817	30,588
Fixed maturities available for sale [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	44
Fixed maturities available for sale [Member] | Level 1 [Member] | U.S. Government direct, guaranteed, and government-sponsored enterprises [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 1 [Member] | States, municipalities, and political subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	44
Fixed maturities available for sale [Member] | Level 1 [Member] | Foreign governments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 1 [Member] | Corporates [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 1 [Member] | Corporates [Member] | Financial [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 1 [Member] | Corporates [Member] | Utilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 1 [Member] | Corporates [Member] | Energy [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 1 [Member] | Corporates [Member] | Other corporate sectors [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 1 [Member] | Collateralized debt obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 1 [Member] | Other asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 1 [Member] | Redeemable preferred stocks [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 1 [Member] | Redeemable preferred stocks [Member] | Financial [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 1 [Member] | Redeemable preferred stocks [Member] | Utilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	15,978,374	16,300,841
Fixed maturities available for sale [Member] | Level 2 [Member] | U.S. Government direct, guaranteed, and government-sponsored enterprises [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	399,278	407,446
Fixed maturities available for sale [Member] | Level 2 [Member] | States, municipalities, and political subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,332,935	1,219,671
Fixed maturities available for sale [Member] | Level 2 [Member] | Foreign governments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	22,281	22,018
Fixed maturities available for sale [Member] | Level 2 [Member] | Corporates [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	13,662,117	14,089,026
Fixed maturities available for sale [Member] | Level 2 [Member] | Corporates [Member] | Financial [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	3,586,007	3,673,089
Fixed maturities available for sale [Member] | Level 2 [Member] | Corporates [Member] | Utilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	2,103,085	2,168,115
Fixed maturities available for sale [Member] | Level 2 [Member] | Corporates [Member] | Energy [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,715,081	1,779,281
Fixed maturities available for sale [Member] | Level 2 [Member] | Corporates [Member] | Other corporate sectors [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	6,257,944	6,468,541
Fixed maturities available for sale [Member] | Level 2 [Member] | Collateralized debt obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 2 [Member] | Other asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	137,225	135,306
Fixed maturities available for sale [Member] | Level 2 [Member] | Redeemable preferred stocks [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	424,538	427,374
Fixed maturities available for sale [Member] | Level 2 [Member] | Redeemable preferred stocks [Member] | Financial [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	394,721	396,786
Fixed maturities available for sale [Member] | Level 2 [Member] | Redeemable preferred stocks [Member] | Utilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	29,817	30,588
Fixed maturities available for sale [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	657,511	668,440
Fixed maturities available for sale [Member] | Level 3 [Member] | U.S. Government direct, guaranteed, and government-sponsored enterprises [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 3 [Member] | States, municipalities, and political subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 3 [Member] | Foreign governments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 3 [Member] | Corporates [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	568,800	582,810
Fixed maturities available for sale [Member] | Level 3 [Member] | Corporates [Member] | Financial [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	61,010	62,006
Fixed maturities available for sale [Member] | Level 3 [Member] | Corporates [Member] | Utilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	150,226	155,730
Fixed maturities available for sale [Member] | Level 3 [Member] | Corporates [Member] | Energy [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	40,068	40,816
Fixed maturities available for sale [Member] | Level 3 [Member] | Corporates [Member] | Other corporate sectors [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	317,496	324,258
Fixed maturities available for sale [Member] | Level 3 [Member] | Collateralized debt obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	75,524	71,581
Fixed maturities available for sale [Member] | Level 3 [Member] | Other asset-backed securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	13,187	14,049
Fixed maturities available for sale [Member] | Level 3 [Member] | Redeemable preferred stocks [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 3 [Member] | Redeemable preferred stocks [Member] | Financial [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fixed maturities available for sale [Member] | Level 3 [Member] | Redeemable preferred stocks [Member] | Utilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 0	$ 0

Investments - Schedule of Chang

Investments - Schedule of Changes in Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 668,440	$ 623,103
Total gains or losses:
Included in realized gains/losses	0	0
Included in other comprehensive income	(8,361)	11,365
Acquisitions	0	35,666
Sales	0	0
Amortization	1,205	1,253
Other	(3,773)	(3,556)
Transfers in and/or out of Level 3	0	0
Ending balance	$ 657,511	$ 667,831
Percent of total fixed maturities	4.00%	4.20%
Asset-Backed Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 14,049	$ 0
Total gains or losses:
Included in realized gains/losses	0	0
Included in other comprehensive income	(749)	0
Acquisitions	0	14,000
Sales	0	0
Amortization	0	0
Other	(113)	0
Transfers in and/or out of Level 3	0	0
Ending balance	$ 13,187	$ 14,000
Percent of total fixed maturities	0.10%	0.10%
Collateralized debt obligations [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 71,581	$ 63,503
Total gains or losses:
Included in realized gains/losses	0	0
Included in other comprehensive income	4,621	5,090
Acquisitions	0	0
Sales	0	0
Amortization	1,201	1,249
Other	(1,879)	(1,999)
Transfers in and/or out of Level 3	0	0
Ending balance	$ 75,524	$ 67,843
Percent of total fixed maturities	0.50%	0.40%
Corporates [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 582,810	$ 559,600
Total gains or losses:
Included in realized gains/losses	0	0
Included in other comprehensive income	(12,233)	6,275
Acquisitions	0	21,666
Sales	0	0
Amortization	4	4
Other	(1,781)	(1,557)
Transfers in and/or out of Level 3	0	0
Ending balance	$ 568,800	$ 585,988
Percent of total fixed maturities	3.40%	3.70%

Investments - Additional Inform

Investments - Additional Information (Details)	3 Months Ended
	Mar. 31, 2018USD ($)Issue	Mar. 31, 2017USD ($)	Dec. 31, 2017Issue
Gain (Loss) on Investments [Line Items]
Total issues of fixed maturity portfolio | Issue	1,529		1,502
Fixed Maturities [Member]
Gain (Loss) on Investments [Line Items]
Other than-temporary impairment, available for sale securities	$ 0
Other than temporary impairment, available for sale securities, net of tax		$ 0

Investments - Transfers in and

Investments - Transfers in and Out of Each of the Valuation Levels of Fair Values (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Level 1 [Member]
Transfers In And Out Of Each Of Valuation Levels Of Fair Values Of Investments [Line Items]
In	$ 0	$ 4
Out	0	(597)
Net	0	(593)
Level 2 [Member]
Transfers In And Out Of Each Of Valuation Levels Of Fair Values Of Investments [Line Items]
In	0	597
Out	0	(4)
Net	0	593
Level 3 [Member]
Transfers In And Out Of Each Of Valuation Levels Of Fair Values Of Investments [Line Items]
In	0	0
Out	0	0
Net	$ 0	$ 0

Investments - Fair Value Option

Investments - Fair Value Option (Details) - Fair Value Option [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, fair value disclosure	$ 106,151
Net Gains and Losses Recognized During the Period	560
Less Net Gains and Losses Recognized due to Sales	0
Total Changes in Fair Values Included in Current-Period Earnings	560
Level 1 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, fair value disclosure	0
Level 2 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, fair value disclosure	106,151
Level 3 [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, fair value disclosure	$ 0

Investments - Schedule of Infor

Investments - Schedule of Information about Investments in Unrealized Loss Position (Details) - Issue	Mar. 31, 2018	Dec. 31, 2017
Number of issues (Cusip numbers) held:
Less than Twelve Months	327	92
Twelve Months or Longer	98	102
Total	425	194

Investments - Schedule of Unrea

Investments - Schedule of Unrealized Investment Losses by Class of Investment (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	$ 2,302,806	$ 498,363
Fair Value, Twelve Months or Longer	542,113	605,288
Fair Value, Total	2,844,919	1,103,651
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	(72,517)	(9,332)
Unrealized Loss, Twelve Months or Longer	(79,524)	(73,351)
Unrealized Loss Total	(152,041)	(82,683)
Investment grade [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	2,207,012	464,715
Fair Value, Twelve Months or Longer	324,634	354,546
Fair Value, Total	2,531,646	819,261
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	(61,851)	(4,057)
Unrealized Loss, Twelve Months or Longer	(22,027)	(11,154)
Unrealized Loss Total	(83,878)	(15,211)
Investment grade [Member] | U.S. Government direct, guaranteed, and government-sponsored enterprises [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	82,042	34,388
Fair Value, Twelve Months or Longer	43,914	47,514
Fair Value, Total	125,956	81,902
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	(1,167)	(422)
Unrealized Loss, Twelve Months or Longer	(1,230)	(951)
Unrealized Loss Total	(2,397)	(1,373)
Investment grade [Member] | States, municipalities, and political subdivisions [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	37,278	4,561
Fair Value, Twelve Months or Longer	1,195	1,771
Fair Value, Total	38,473	6,332
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	(495)	(21)
Unrealized Loss, Twelve Months or Longer	(13)	(9)
Unrealized Loss Total	(508)	(30)
Investment grade [Member] | Foreign governments [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months		0
Fair Value, Twelve Months or Longer		0
Fair Value, Total		0
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months		0
Unrealized Loss, Twelve Months or Longer		0
Unrealized Loss Total		0
Investment grade [Member] | Corporates [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	2,059,707	425,766
Fair Value, Twelve Months or Longer	273,811	299,308
Fair Value, Total	2,333,518	725,074
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	(59,311)	(3,614)
Unrealized Loss, Twelve Months or Longer	(20,463)	(10,097)
Unrealized Loss Total	(79,774)	(13,711)
Investment grade [Member] | Corporates [Member] | Financial [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	519,675	133,080
Fair Value, Twelve Months or Longer	34,166	35,302
Fair Value, Total	553,841	168,382
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	(12,606)	(652)
Unrealized Loss, Twelve Months or Longer	(2,445)	(1,429)
Unrealized Loss Total	(15,051)	(2,081)
Investment grade [Member] | Corporates [Member] | Utilities [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	192,595	48,562
Fair Value, Twelve Months or Longer	31,590	32,345
Fair Value, Total	224,185	80,907
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	(5,154)	(569)
Unrealized Loss, Twelve Months or Longer	(1,328)	(729)
Unrealized Loss Total	(6,482)	(1,298)
Investment grade [Member] | Corporates [Member] | Energy [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	161,511	23,463
Fair Value, Twelve Months or Longer	51,640	67,775
Fair Value, Total	213,151	91,238
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	(3,730)	(81)
Unrealized Loss, Twelve Months or Longer	(5,137)	(3,682)
Unrealized Loss Total	(8,867)	(3,763)
Investment grade [Member] | Corporates [Member] | Metals and mining [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months		0
Fair Value, Twelve Months or Longer		0
Fair Value, Total		0
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months		0
Unrealized Loss, Twelve Months or Longer		0
Unrealized Loss Total		0
Investment grade [Member] | Corporates [Member] | Other corporate sectors [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	1,185,926	220,661
Fair Value, Twelve Months or Longer	156,415	163,886
Fair Value, Total	1,342,341	384,547
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	(37,821)	(2,312)
Unrealized Loss, Twelve Months or Longer	(11,553)	(4,257)
Unrealized Loss Total	(49,374)	(6,569)
Investment grade [Member] | Other asset-backed securities [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	17,663	0
Fair Value, Twelve Months or Longer	0	0
Fair Value, Total	17,663	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	(362)	0
Unrealized Loss, Twelve Months or Longer	0	0
Unrealized Loss Total	(362)	0
Investment grade [Member] | Redeemable preferred stocks [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	10,322	0
Fair Value, Twelve Months or Longer	5,714	5,953
Fair Value, Total	16,036	5,953
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	(516)	0
Unrealized Loss, Twelve Months or Longer	(321)	(97)
Unrealized Loss Total	(837)	(97)
Investment grade [Member] | Redeemable preferred stocks [Member] | Financial [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	10,322
Fair Value, Twelve Months or Longer	0
Fair Value, Total	10,322
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	(516)
Unrealized Loss, Twelve Months or Longer	0
Unrealized Loss Total	(516)
Investment grade [Member] | Redeemable preferred stocks [Member] | Utilities [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	0	0
Fair Value, Twelve Months or Longer	5,714	5,953
Fair Value, Total	5,714	5,953
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	0	0
Unrealized Loss, Twelve Months or Longer	(321)	(97)
Unrealized Loss Total	(321)	(97)
Below investment grade [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	95,794	33,648
Fair Value, Twelve Months or Longer	217,479	250,742
Fair Value, Total	313,273	284,390
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	(10,666)	(5,275)
Unrealized Loss, Twelve Months or Longer	(57,497)	(62,197)
Unrealized Loss Total	(68,163)	(67,472)
Below investment grade [Member] | States, municipalities, and political subdivisions [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	15	200
Fair Value, Twelve Months or Longer	0	0
Fair Value, Total	15	200
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	0	(105)
Unrealized Loss, Twelve Months or Longer	0	0
Unrealized Loss Total	0	(105)
Below investment grade [Member] | Corporates [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	95,779	33,448
Fair Value, Twelve Months or Longer	180,116	214,019
Fair Value, Total	275,895	247,467
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	(10,666)	(5,170)
Unrealized Loss, Twelve Months or Longer	(47,763)	(51,817)
Unrealized Loss Total	(58,429)	(56,987)
Below investment grade [Member] | Corporates [Member] | Financial [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	26,116	0
Fair Value, Twelve Months or Longer	63,104	84,432
Fair Value, Total	89,220	84,432
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	(4,665)	0
Unrealized Loss, Twelve Months or Longer	(11,852)	(21,311)
Unrealized Loss Total	(16,517)	(21,311)
Below investment grade [Member] | Corporates [Member] | Energy [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	17,047	8,114
Fair Value, Twelve Months or Longer	63,694	75,204
Fair Value, Total	80,741	83,318
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	(182)	(104)
Unrealized Loss, Twelve Months or Longer	(26,020)	(21,525)
Unrealized Loss Total	(26,202)	(21,629)
Below investment grade [Member] | Corporates [Member] | Metals and mining [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months		0
Fair Value, Twelve Months or Longer		0
Fair Value, Total		0
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months		0
Unrealized Loss, Twelve Months or Longer		0
Unrealized Loss Total		0
Below investment grade [Member] | Corporates [Member] | Other corporate sectors [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	52,616	25,334
Fair Value, Twelve Months or Longer	53,318	54,383
Fair Value, Total	105,934	79,717
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	(5,819)	(5,066)
Unrealized Loss, Twelve Months or Longer	(9,891)	(8,981)
Unrealized Loss Total	(15,710)	(14,047)
Below investment grade [Member] | Collateralized debt obligations [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	0	0
Fair Value, Twelve Months or Longer	13,533	12,347
Fair Value, Total	13,533	12,347
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	0	0
Unrealized Loss, Twelve Months or Longer	(6,467)	(7,653)
Unrealized Loss Total	(6,467)	(7,653)
Below investment grade [Member] | Redeemable preferred stocks [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	0	0
Fair Value, Twelve Months or Longer	23,830	24,376
Fair Value, Total	23,830	24,376
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	0	0
Unrealized Loss, Twelve Months or Longer	(3,267)	(2,727)
Unrealized Loss Total	(3,267)	(2,727)
Below investment grade [Member] | Redeemable preferred stocks [Member] | Financial [Member]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value, Less than Twelve Months	0	0
Fair Value, Twelve Months or Longer	23,830	24,376
Fair Value, Total	23,830	24,376
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Unrealized Loss, Less Than Twelve Months	0	0
Unrealized Loss, Twelve Months or Longer	(3,267)	(2,727)
Unrealized Loss Total	$ (3,267)	$ (2,727)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Expected income taxes	$ 44,697	$ 67,109
Increase (reduction) in income taxes resulting from:
Low income housing investments	(3,325)	(4,649)
Share-based awards	(2,199)	(5,673)
Other	(42)	(2,224)
Income tax expense (benefit) from continuing operations	$ 39,131	$ 54,563
Expected income taxes	21.00%	35.00%
Increase (reduction) in income taxes resulting from:
Low income housing investments	(1.60%)	(2.40%)
Share-based awards	(1.00%)	(3.00%)
Other	0.00%	(1.20%)
Income tax expense (benefit) from continuing operations	18.40%	28.40%
Tax benefit as a result of remeasuring deferred tax assets and liabilities			$ 877,000

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Short-term Debt [Line Items]
Letters of credit outstanding	$ 155,000,000	$ 177,000,000
Letter of Credit [Member]
Short-term Debt [Line Items]
Maximum amount of letters of credit available	$ 250,000,000

Liability for Unpaid Claims - S

Liability for Unpaid Claims - Summary of Liability for Unpaid Health Claims (Details) - Health Insurance [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Activity in the Liability for Unpaid Health Claims
Balance at beginning of period	$ 146,865	$ 143,128
Incurred related to:
Current year	134,542	135,377
Prior years	(5,001)	(4,024)
Total incurred	129,541	131,353
Paid related to:
Current year	55,130	54,241
Prior years	78,722	77,555
Total paid	133,852	131,796
Balance at end of period	$ 142,554	$ 142,685

Liability for Unpaid Claims - R

Liability for Unpaid Claims - Reconciliation of Net Incurred and Paid Claims Development to Liability (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Policy claims and other benefits payable:
Life insurance	$ 191,206	$ 186,429
Total	333,760	333,294
Health Insurance [Member]
Policy claims and other benefits payable:
Total	$ 142,554	$ 146,865

Postretirement Benefit Plans -

Postretirement Benefit Plans - Summary of Post-Retirement Benefit Costs by Component (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 5,277	$ 4,487
Interest cost	5,493	5,550
Expected return on assets	(6,363)	(5,899)
Amortization:
Prior service cost	119	119
Actuarial (gain) loss	3,636	2,951
Direct recognition of expense	0	0
Net periodic benefit cost	8,162	7,208
Other Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0
Interest cost	228	250
Expected return on assets	0	0
Amortization:
Prior service cost	0	0
Actuarial (gain) loss	23	39
Direct recognition of expense	140	96
Net periodic benefit cost	$ 391	$ 385

Postretirement Benefit Plans 44

Postretirement Benefit Plans - Pension Assets by Components at Fair Value (Detail) (Details) - Pension Benefits [Member] - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 365,774	$ 377,624
% to Total	100.00%	100.00%
Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 168,673	$ 173,356
Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	197,101	204,268
Corporate bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 173,091	$ 180,506
% to Total	47.00%	48.00%
Corporate bonds [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 173,091	$ 180,506
Corporate bonds [Member] | Financial [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 41,709	$ 43,451
% to Total	11.00%	12.00%
Corporate bonds [Member] | Financial [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 41,709	$ 43,451
Corporate bonds [Member] | Utilities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 44,870	$ 46,144
% to Total	12.00%	12.00%
Corporate bonds [Member] | Utilities [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 44,870	$ 46,144
Corporate bonds [Member] | Energy [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 23,846	$ 25,023
% to Total	7.00%	7.00%
Corporate bonds [Member] | Energy [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 23,846	$ 25,023
Corporate bonds [Member] | Other corporate sectors [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 62,666	$ 65,888
% to Total	17.00%	17.00%
Corporate bonds [Member] | Other corporate sectors [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 62,666	$ 65,888
Exchange traded fund [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 162,980	$ 164,351
% to Total	45.00%	43.00%
Exchange traded fund [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 162,980	$ 164,351
Other bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 249	$ 256
% to Total	0.00%	0.00%
Other bonds [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 249	$ 256
Other long-term investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 2,439	$ 2,304
% to Total	1.00%	1.00%
Other long-term investments [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 2,439	$ 2,304
Guaranteed annuity contract [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 21,322	$ 21,202
% to Total	6.00%	6.00%
Guaranteed annuity contract [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 21,322	$ 21,202
Short-term investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 2,070	$ 3,984
% to Total	0.00%	1.00%
Short-term investments [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 2,070	$ 3,984
Other [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 3,623	$ 5,021
% to Total	1.00%	1.00%
Other [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 3,623	$ 5,021

Postretirement Benefit Plans 45

Postretirement Benefit Plans - Pension Liability (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Liabilities for defined benefit pension plan	$ 594,354	$ 602,605
Qualified plan [Member] | Funded plan [Member] | Pension Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Liabilities for defined benefit pension plan	509,526	518,140
Nonqualified plan [Member] | SERPs [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Liabilities for defined benefit pension plan	$ 84,828	$ 84,465

Postretirement Benefit Plans 46

Postretirement Benefit Plans - Activity for the SERP (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Premiums paid for insurance coverage	$ 1,047	$ 2,050
Liability	594,354	602,605
SERPs [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total investments	95,206	95,715
SERPs [Member] | Nonqualified plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Liability	84,828	84,465
SERP (Active) [Member] | Nonqualified plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Liability	82,200	81,457
SERP (Closed) [Member] | Nonqualified plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Liability	2,628	3,008
Company owned life insurance [Member] | SERPs [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total investments	41,608	40,273
Exchange traded fund [Member] | SERPs [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total investments	$ 53,598	$ 55,442

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Basic and Diluted Weighted - Average Shares Outstanding (Details) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Basic weighted average shares outstanding	114,179,084	117,770,474
Weighted average dilutive options outstanding	2,570,418	2,659,242
Diluted weighted average shares outstanding	116,749,502	120,429,716
Antidilutive shares	535,143	625,855

Business Segments - Reconciliat

Business Segments - Reconciliation of Segment Operating Information to Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue:
Premium	$ 850,106	$ 820,631
Net investment income	218,084	208,282
Other income	295	416
Total revenue	1,068,485	1,029,329
Expenses:
Policy benefits	569,889	557,776
Required interest on reserves	0	0
Required interest on DAC	0	0
Amortization of acquisition costs	129,620	125,908
Commissions, premium taxes, and non-deferred acquisition costs	69,639	65,116
Insurance administrative expense	55,472	51,913
Parent expense	2,292	2,233
Stock-based compensation expense	9,060	8,195
Interest expense	21,622	20,699
Total benefits and expenses	857,594	831,840
Subtotal	210,891	197,489
Non-operating items	0	0
Measure of segment profitability (pretax)	210,891	197,489
Deduct applicable income taxes	(38,721)	(58,818)
Net operating income	172,170	138,671
Add back income taxes applicable to segment profitability	38,721	58,818
Add (deduct) realized investment gains (losses)	1,951	(5,748)
Income before income taxes	212,842	191,741
Operating Segments [Member] | Life [Member]
Revenue:
Premium	598,303	575,837
Total revenue	598,303	575,837
Expenses:
Policy benefits	400,581	391,079
Required interest on reserves	(156,214)	(148,825)
Required interest on DAC	47,944	45,936
Amortization of acquisition costs	103,777	99,905
Commissions, premium taxes, and non-deferred acquisition costs	47,394	43,638
Total benefits and expenses	443,482	431,733
Subtotal	154,821	144,104
Measure of segment profitability (pretax)	154,821	144,104
Operating Segments [Member] | Health [Member]
Revenue:
Premium	251,798	244,791
Total revenue	251,798	244,791
Expenses:
Policy benefits	160,619	157,751
Required interest on reserves	(20,404)	(18,975)
Required interest on DAC	6,013	5,809
Amortization of acquisition costs	25,257	25,327
Commissions, premium taxes, and non-deferred acquisition costs	22,265	21,502
Total benefits and expenses	193,750	191,414
Subtotal	58,048	53,377
Measure of segment profitability (pretax)	58,048	53,377
Operating Segments [Member] | Annuity [Member]
Revenue:
Premium	5	3
Total revenue	5	3
Expenses:
Policy benefits	8,689	8,946
Required interest on reserves	(12,017)	(12,418)
Required interest on DAC	153	178
Amortization of acquisition costs	586	676
Commissions, premium taxes, and non-deferred acquisition costs	8	11
Total benefits and expenses	(2,581)	(2,607)
Subtotal	2,586	2,610
Measure of segment profitability (pretax)	2,586	2,610
Operating Segments [Member] | Investment [Member]
Revenue:
Net investment income	218,084	208,282
Total revenue	218,084	208,282
Expenses:
Required interest on reserves	188,635	180,218
Required interest on DAC	(54,110)	(51,923)
Interest expense	21,622	20,699
Total benefits and expenses	156,147	148,994
Subtotal	61,937	59,288
Measure of segment profitability (pretax)	61,937	59,288
Operating Segments [Member] | Other & Corporate [Member]
Revenue:
Other income	323	451
Total revenue	323	451
Expenses:
Insurance administrative expense	55,472	51,913
Parent expense	2,292	2,233
Stock-based compensation expense	9,060	8,195
Total benefits and expenses	66,824	62,341
Subtotal	(66,501)	(61,890)
Measure of segment profitability (pretax)	(66,501)	(61,890)
Adjustments [Member]
Revenue:
Other income	(28)	(35)
Total revenue	(28)	(35)
Expenses:
Policy benefits
Commissions, premium taxes, and non-deferred acquisition costs	(28)	(35)
Insurance administrative expense
Total benefits and expenses	(28)	(35)
Subtotal	0	0
Non-operating items	0	0
Measure of segment profitability (pretax)	$ 0	$ 0