Globe Life (GL) 10-Q 7 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Oct. 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	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		111,540,403

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Investments:
Fixed maturities—available for sale, at fair value (amortized cost: 2018—$15,462,364; 2017—$14,995,101)	$ 16,231,471	$ 16,969,325
Policy loans	543,836	529,529
Other long-term investments (includes: 2018—$107,996; 2017—$0, under the fair value option)	191,191	108,559
Short-term investments	633,490	127,071
Total investments	17,599,988	17,734,484
Cash	77,439	118,563
Accrued investment income	244,851	233,453
Other receivables	406,907	391,775
Deferred acquisition costs	4,091,601	3,958,063
Goodwill	441,591	441,591
Other assets	538,540	528,536
Assets related to discontinued operations	68,571	68,520
Total assets	23,469,488	23,474,985
Liabilities:
Future policy benefits	13,842,694	13,439,472
Unearned and advance premiums	62,139	61,430
Policy claims and other benefits payable	337,981	333,294
Other policyholders' funds	97,007	97,635
Total policy liabilities	14,339,821	13,931,831
Current and deferred income taxes payable	1,072,856	1,312,002
Other liabilities	493,726	489,609
Short-term debt	615,011	328,067
Long-term debt (estimated fair value: 2018—$1,387,229; 2017—$1,228,392)	1,358,947	1,132,201
Liabilities related to discontinued operations	50,222	49,854
Total liabilities	17,930,583	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 12,050,407 held in treasury and 2017—124,218,183 issued, less 9,625,104 held in treasury)	124,218	124,218
Additional paid-in capital	527,489	508,476
Accumulated other comprehensive income	477,624	1,424,274
Retained earnings	5,267,964	4,806,208
Treasury stock, at cost	(858,390)	(631,755)
Total shareholders’ equity	5,538,905	6,231,421
Total liabilities and shareholders’ equity	$ 23,469,488	$ 23,474,985

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Fixed maturities, available for sale, amortized cost	$ 15,462,364	$ 14,995,101
Long-term debt, fair value	$ 1,387,229	$ 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)	12,050,407	9,625,104
Fair Value Option [Member]
Fair value option	$ 107,996
Partnership Interest [Member] | Fair Value Option [Member]
Fair value option	$ 107,996	$ 0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue:
Total premium	$ 860,750	$ 819,217	$ 2,564,835	$ 2,456,462
Net investment income	221,627	213,872	658,279	634,930
Realized investment gains (losses)	1,032	12,595	14,796	6,142
Other income	393	331	1,104	1,140
Total revenue	1,083,802	1,046,015	3,239,014	3,098,674
Benefits and expenses:
Life policyholder benefits	396,701	386,445	1,196,616	1,168,383
Health policyholder benefits	162,574	155,774	483,654	470,104
Other policyholder benefits	8,581	9,000	25,852	26,923
Total policyholder benefits	567,856	551,219	1,706,122	1,665,410
Amortization of deferred acquisition costs	129,492	122,334	388,189	370,363
Commissions, premium taxes, and non-deferred acquisition costs	69,632	67,863	208,698	198,011
Other operating expense	74,059	63,019	209,503	187,788
Interest expense	22,433	20,970	66,466	62,825
Total benefits and expenses	863,472	825,405	2,578,978	2,484,397
Income before income taxes	220,330	220,610	660,036	614,277
Income taxes	(41,630)	(67,264)	(123,232)	(183,390)
Income from continuing operations	178,700	153,346	536,804	430,887
Income (loss) from discontinued operations, net of tax	24	(12)	(55)	(3,739)
Net income	$ 178,724	$ 153,334	$ 536,749	$ 427,148
Basic net income (loss) per common share:
Continuing operations (in dollars per share)	$ 1.59	$ 1.32	$ 4.74	$ 3.69
Discontinued operations (in dollars per share)	0	0	(0.01)	(0.03)
Total basic net income per common share (in dollars per share)	1.59	1.32	4.73	3.66
Diluted net income (loss) per common share:
Continuing operations (in dollars per share)	1.55	1.29	4.64	3.61
Discontinued operations (in dollars per share)	0	0	0	(0.03)
Total diluted net income per common share (in dollars per share)	1.55	1.29	4.64	3.58
Dividends declared per common share (in dollars per share)	$ 0.16	$ 0.15	$ 0.48	$ 0.45
Life premium [Member]
Revenue:
Total premium	$ 605,547	$ 576,223	$ 1,806,384	$ 1,725,896
Health premium [Member]
Revenue:
Total premium	255,201	242,991	758,439	730,557
Other premium [Member]
Revenue:
Total premium	$ 2	$ 3	$ 12	$ 9

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Net income	$ 178,724	$ 153,334	$ 536,749	$ 427,148
Investments:
Total unrealized investment gains (losses)	(164,122)	72,071	(1,205,609)	684,066
Less applicable tax (expense) benefit	34,464	(25,225)	253,176	(239,479)
Unrealized investment gains (losses), net of tax	(129,658)	46,846	(952,433)	444,587
Deferred acquisition costs:
Unrealized gains (losses) attributable to deferred acquisition costs	1,178	505	3,669	(992)
Less applicable tax (expense) benefit	(248)	(177)	(771)	347
Unrealized gains (losses) attributable to deferred acquisition costs, net of tax	930	328	2,898	(645)
Foreign exchange translation:
Foreign exchange translation adjustments, other than securities	(168)	8,533	(7,684)	16,049
Less applicable tax (expense) benefit	36	(2,986)	1,615	(4,567)
Foreign exchange translation adjustments, other than securities, net of tax	(132)	5,547	(6,069)	11,482
Pension:
Amortization of pension costs	3,778	3,108	11,334	9,326
Experience gain (loss)	0	0	0	371
Pension adjustments	3,778	3,108	11,334	9,697
Less applicable tax (expense) benefit	(793)	(1,087)	(2,380)	(3,393)
Pension adjustments, net of tax	2,985	2,021	8,954	6,304
Other comprehensive income (loss)	(125,875)	54,742	(946,650)	461,728
Comprehensive income (loss)	52,849	208,076	(409,901)	888,876
Securities [Member]
Investments:
Unrealized holding gains (losses) arising during period	(173,598)	83,216	(1,202,762)	692,747
Reclassification adjustment for (gains) losses on securities included in net income	(1,510)	(12,910)	(12,327)	(13,264)
Reclassification adjustment for amortization of (discount) and premium	1,052	119	2,612	(379)
Foreign exchange adjustment on securities recorded at fair value	8,624	1,173	7,360	1,418
Unrealized gains (losses) on securities	(165,432)	71,598	(1,205,117)	680,522
Other Investments [Member]
Investments:
Unrealized gains (losses) on other investments	$ 1,310	$ 473	$ (492)	$ 3,544

Condensed Consolidated Statem_3

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)		888,876				461,728	427,148
Common dividends declared ($0.45 in 2017 and $0.48 in 2018)		(52,304)					(52,304)
Acquisition of treasury stock		(301,448)						(301,448)
Stock-based compensation		24,809			17,965		(606)	7,450
Exercise of stock options		40,891					(25,454)	66,345
Stockholders' equity, ending balance at Sep. 30, 2017		5,167,685	0	127,218	508,386	1,039,302	4,239,582	(746,803)
Stockholders' equity, beginning balance at Jun. 30, 2017						984,560
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)		208,076
Stockholders' equity, ending balance at Sep. 30, 2017		5,167,685	0	127,218	508,386	1,039,302	4,239,582	(746,803)
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)		(409,901)				(946,650)	536,749
Common dividends declared ($0.45 in 2017 and $0.48 in 2018)		(54,231)					(54,231)
Acquisition of treasury stock		(298,314)						(298,314)
Stock-based compensation		29,969			19,013		(1,803)	12,759
Exercise of stock options		35,065					(23,855)	58,920
Stockholders' equity, ending balance at Sep. 30, 2018		5,538,905	0	124,218	527,489	477,624	5,267,964	(858,390)
Stockholders' equity, beginning balance at Jun. 30, 2018						603,499
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)		52,849
Stockholders' equity, ending balance at Sep. 30, 2018		$ 5,538,905	$ 0	$ 124,218	$ 527,489	$ 477,624	$ 5,267,964	$ (858,390)
[1]	See further discussion in Note 2—New Accounting Standards and Note 4—Investments.

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 0.16	$ 0.15	$ 0.48	$ 0.45

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Statement of Cash Flows [Abstract]
Cash provided from operating activities	$ 937,289	$ 1,085,842
Investments sold or matured:
Fixed maturities available for sale—sold	12,162	52,951
Fixed maturities available for sale—matured, called, and repaid	266,736	306,132
Other long-term investments	47	3,523
Total investments sold or matured	278,945	362,606
Acquisition of investments:
Fixed maturities—available for sale	(727,296)	(1,042,705)
Other long-term investments	(74,396)	(16,775)
Total investments acquired	(801,692)	(1,059,480)
Net (increase) decrease in policy loans	(14,307)	(15,343)
Net (increase) decrease in short-term investments	(506,419)	6,556
Additions to property and equipment	(27,316)	(13,451)
Sale of other assets	17	18
Investment in low-income housing interests	(19,075)	(13,852)
Cash provided from (used for) investing activities	(1,089,847)	(732,946)
Cash provided from (used for) financing activities:
Issuance of common stock	35,065	40,891
Cash dividends paid to shareholders	(53,481)	(51,532)
Proceeds from issuance of debt	550,000	0
Payment for debt issuance costs	(6,797)	0
Repayment of debt	(23,125)	(1,250)
Net borrowing (repayment) of commercial paper	(7,196)	42,652
Acquisition of treasury stock	(298,314)	(301,448)
Net receipts (payments) from deposit-type product	(87,561)	(65,912)
Cash provided from (used for) financing activities	108,591	(336,599)
Effect of foreign exchange rate changes on cash	2,843	(3,998)
Net increase (decrease) in cash	(41,124)	12,299
Cash at beginning of year	118,563	76,163
Cash at end of period	$ 77,439	$ 88,462

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 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 September 30, 2018 , and the condensed consolidated results of operations, comprehensive income, and cash flows for the periods ended September 30, 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	9 Months Ended
	Sep. 30, 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 certain 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 certain limited partnerships 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 September 30, 2018 , the fair value balance of the limited partnerships were $108 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 $3.2 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 nine months ended September 30, 2018 , the Company recorded $2.4 million 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/ASU 2018-11: In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , with clarification guidance issued in July 2018. The guidance requires lessees to record a right-of-use asset and corresponding lease liability on the balance sheet for all operating leases that do not qualify for the practical expedients allowed for in this standard. Additional qualitative and quantitative disclosures will be required. This standard will become effective for the Company beginning January 1, 2019. The Company plans to adopt the optional transition method allowed for under ASU 2018-11 by not restating comparative periods and recognizing a cumulative-effect adjustment to the opening balance of retained earnings on the period of adoption. The Company is not a lessor. The Company has made significant progress during 2018 and has implemented appropriate solutions to identify and quantify applicable operating leases in accordance with this guidance. The Company is in the process of finalizing the analysis of the impact of the new guidance, but 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. 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 on 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. ASU 2018-12: In August 2018, the FASB issued ASU No. 2018-12, Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts . The guidance was primarily issued to 1) improve the timeliness of recognizing changes in the liability for future policy benefits and modify the rate used to discount future cash flows, 2) simplify and improve the accounting for certain market-based options or guarantees associated with deposit (or account balance) contracts, 3) simplify the amortization of deferred acquisition costs, and 4) improve the effectiveness of the required disclosures. This guidance is effective beginning January 1, 2021, and should be applied on a retrospective basis. Early adoption of the amendments is permitted. ASU 2018-12 will require changes to the Company's actuarial systems and data inputs related to the valuation of the liabilities. The Company is in the process of evaluating the impact this guidance will have on the financial statements and cannot reasonably estimate at this time. ASU 2018-13: In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement . The amendment modifies the disclosure requirements for fair value measurements by removing, modifying, or adding certain disclosures. The revised guidance is effective beginning January 1, 2020. The removed and modified disclosures will be adopted on a retrospective basis and the new disclosures will be adopted on a prospective basis. Early adoption of the amendments is permitted. The Company does not expect the adoption of this guidance to have a material impact on the financial statements. ASU 2018-14: In August 2018, the FASB issued ASU No. 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20), Changes to the Disclosure Requirements for Defined Benefit Plans . The guidance removes disclosures that are no longer considered cost beneficial, clarifies the specific requirements of disclosures and adds disclosure requirements identified as relevant. This guidance is effective beginning January 1, 2021, and will be applied retrospectively. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on the financial statements. ASU 2018-15: In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract. The guidance was issued to align the accounting for implementation costs of hosting arrangements, regardless of whether they convey a license to the hosted software. Accordingly, the standard requires the capitalization of implementation costs incurred in a hosting arrangement that is a service contract, similar to the treatment for developed or obtained internal-use software. The guidance is effective beginning January 1, 2020, and the Company plans to apply the standards on a prospective basis. Early adoption of the amendments is also permitted. The Company is in the process of determining the impact this guidance will have on the financial statements.

Supplemental Information about

Supplemental Information about Changes to Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 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 and nine month periods ended September 30, 2018 and 2017 . Components of Accumulated Other Comprehensive Income Three Months Ended September 30, 2017 Available Deferred Foreign Pension Total Balance at July 1, 2017 $ 1,090,055 $ (7,655 ) $ 10,902 $ (108,742 ) $ 984,560 Other comprehensive income (loss) before reclassifications, net of tax 55,160 328 5,547 — 61,035 Reclassifications, net of tax (8,314 ) — — 2,021 (6,293 ) Other comprehensive income (loss) 46,846 328 5,547 2,021 54,742 Balance at September 30, 2017 $ 1,136,901 $ (7,327 ) $ 16,449 $ (106,721 ) $ 1,039,302 Three Months Ended September 30, 2018 Available Deferred Foreign Pension Total Balance at July 1, 2018 $ 746,514 $ (6,579 ) $ 10,365 $ (146,801 ) $ 603,499 Other comprehensive income (loss) before reclassifications, net of tax (129,296 ) 930 (132 ) — (128,498 ) Reclassifications, net of tax (362 ) — — 2,985 2,623 Other comprehensive income (loss) (129,658 ) 930 (132 ) 2,985 (125,875 ) Balance at September 30, 2018 $ 616,856 $ (5,649 ) $ 10,233 $ (143,816 ) $ 477,624 Nine Months Ended September 30, 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 453,455 (645 ) 11,482 241 464,533 Reclassifications, net of tax (8,868 ) — — 6,063 (2,805 ) Other comprehensive income (loss) 444,587 (645 ) 11,482 6,304 461,728 Balance at September 30, 2017 $ 1,136,901 $ (7,327 ) $ 16,449 $ (106,721 ) $ 1,039,302 Nine Months Ended September 30, 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 (944,758 ) 2,898 (6,069 ) — (947,929 ) Reclassifications, net of tax (7,675 ) — — 8,954 1,279 Other comprehensive income (loss) (952,433 ) 2,898 (6,069 ) 8,954 (946,650 ) Balance at September 30, 2018 $ 616,856 $ (5,649 ) $ 10,233 $ (143,816 ) $ 477,624 Reclassifications out of Accumulated Other Comprehensive Income are presented below for the three and nine month periods ended September 30, 2018 and 2017 . Reclassification Adjustments Three Months Ended Nine Months Ended Affected line items in the Statement of Operations 2018 2017 2018 2017 Unrealized investment gains (losses) on available for sale assets: Realized (gains) losses $ (1,510 ) $ (12,910 ) $ (12,327 ) $ (13,264 ) Realized investment gains (losses) Amortization of (discount) premium 1,052 119 2,612 (379 ) Net investment income Total before tax (458 ) (12,791 ) (9,715 ) (13,643 ) Tax 96 4,477 2,040 4,775 Income taxes Total after-tax (362 ) (8,314 ) (7,675 ) (8,868 ) Pension adjustments: Amortization of prior service cost 119 118 357 356 Other operating expense Amortization of actuarial gain (loss) 3,659 2,990 10,977 8,970 Other operating expense Total before tax 3,778 3,108 11,334 9,326 Tax (793 ) (1,087 ) (2,380 ) (3,263 ) Income taxes Total after-tax 2,985 2,021 8,954 6,063 Total reclassifications (after-tax) $ 2,623 $ (6,293 ) $ 1,279 $ (2,805 )

Investments

Investments	9 Months Ended
	Sep. 30, 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 September 30, 2018 and December 31, 2017 is as follows: September 30, 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 $ 392,779 $ 255 $ (11,643 ) $ 381,391 3 States, municipalities, and political subdivisions 1,262,710 84,503 (4,853 ) 1,342,360 8 Foreign governments 18,918 1,721 — 20,639 — Corporates, by sector: Financial 3,363,794 239,614 (62,445 ) 3,540,963 21 Utilities 1,964,029 215,959 (21,005 ) 2,158,983 13 Energy 1,635,710 136,144 (37,978 ) 1,733,876 11 Other corporate sectors 6,242,246 329,169 (165,172 ) 6,406,243 40 Total corporates 13,205,779 920,886 (286,600 ) 13,840,065 85 Collateralized debt obligations 57,794 26,119 (4,997 ) 78,916 — Other asset-backed securities 150,218 1,845 (872 ) 151,191 1 Redeemable preferred stocks, by sector: Financial 345,651 46,022 (4,197 ) 387,476 3 Utilities 28,515 1,332 (414 ) 29,433 — Total redeemable preferred stocks 374,166 47,354 (4,611 ) 416,909 3 Total fixed maturities $ 15,462,364 $ 1,082,683 $ (313,576 ) $ 16,231,471 100 (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 September 30, 2018 is shown below on an amortized cost basis and on a fair value basis. Actual disposition dates could differ from contractual maturities due to call or prepayment provisions. September 30, 2018 Amortized Fair Value Fixed maturities available for sale: Due in one year or less $ 189,867 $ 193,934 Due after one year through five years 611,511 632,417 Due after five years through ten years 1,686,348 1,820,952 Due after ten years through twenty years 5,023,824 5,505,111 Due after twenty years 7,742,061 7,848,163 Mortgage-backed and asset-backed securities 208,753 230,894 $ 15,462,364 $ 16,231,471 Selected information about sales of fixed maturities available for sale is as follows. Three Months Ended Nine Months Ended 2018 2017 2018 2017 Fixed maturities available for sale: Proceeds from sales $ 12,162 $ 52,951 $ 12,162 $ 52,951 Gross realized gains 66 4,851 66 4,851 Gross realized losses — — — — Fair Value Measurements : The following tables represent the fair value of fixed maturities available for sale measured on a recurring basis at September 30, 2018 and December 31, 2017 . Fair Value Measurements at September 30, 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 $ — $ 381,391 $ — $ 381,391 States, municipalities, and political subdivisions — 1,342,360 — 1,342,360 Foreign governments — 20,639 — 20,639 Corporates, by sector: Financial — 3,497,807 43,156 3,540,963 Utilities — 2,006,462 152,521 2,158,983 Energy — 1,694,481 39,395 1,733,876 Other corporate sectors — 6,085,281 320,962 6,406,243 Total corporates — 13,284,031 556,034 13,840,065 Collateralized debt obligations — — 78,916 78,916 Other asset-backed securities — 138,407 12,784 151,191 Redeemable preferred stocks, by sector: Financial — 387,476 — 387,476 Utilities — 29,433 — 29,433 Total redeemable preferred stocks — 416,909 — 416,909 Total fixed maturities $ — $ 15,583,737 $ 647,734 $ 16,231,471 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 nine months ended September 30, 2018 and 2017 . Analysis of Changes in Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Nine Months Ended September 30, 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 — — 698 698 Included in other comprehensive income (950 ) 8,691 (21,854 ) (14,113 ) Acquisitions — — 27,453 27,453 Sales — — — — Amortization — 3,572 13 3,585 Other (2) (315 ) (4,928 ) (37,619 ) (42,862 ) Transfers in and/or out of Level 3 (3) — — 4,533 4,533 Balance at September 30, 2018 $ 12,784 $ 78,916 $ 556,034 $ 647,734 Percent of total fixed maturities 0.1 % 0.5 % 3.4 % 4.0 % (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. Nine Months Ended September 30, 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 595 7,787 10,614 18,996 Acquisitions 14,000 — 21,666 35,666 Sales — — — — Amortization — 3,705 14 3,719 Other (2) (212 ) (5,227 ) (7,411 ) (12,850 ) Transfers in and/or out of Level 3 (3) — — — — Balance at September 30, 2017 $ 14,383 $ 69,768 $ 584,483 $ 668,634 Percent of total fixed maturities 0.1 % 0.4 % 3.5 % 4.0 % (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. Nine Months Ended September 30, 2018 2017 In Out Net In Out Net Level 1 $ — $ — $ — $ 42,328 $ (597 ) $ 41,731 Level 2 — (4,533 ) (4,533 ) 597 (42,328 ) (41,731 ) Level 3 4,533 — 4,533 — — — 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 certain limited partnerships at fair value with changes recognized in "Realized Investment Gains (Losses)" in the Condensed Consolidated Statements of Operations . Distributions 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 September 30, 2018 , and the changes in fair value for the nine months ended September 30, 2018 . Fair Value Measurements at September 30, 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 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 partnerships $ — $ 107,996 $ — $ 107,996 $ 2,405 $ — $ 2,405 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 nine months ended September 30, 2018 , the Company concluded that there were no other-than-temporary impairments. For the nine months ended September 30, 2017 , the Company recorded $245 thousand ( $159 thousand , net of tax) in OTTI. 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 September 30, 2018 598 122 720 As of December 31, 2017 92 102 194 Torchmark’s entire fixed maturity portfolio consisted of 1,538 issues at September 30, 2018 and 1,502 issues at December 31, 2017 . The weighted average quality rating of all unrealized loss positions as of September 30, 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 September 30, 2018 and December 31, 2017 , respectively. Torchmark considers these investments to be only temporarily impaired. Analysis of Gross Unrealized Investment Losses At September 30, 2018 Less than Twelve Months Twelve Months or Longer Total Description of Securities Fair Value Unrealized Loss Fair Unrealized Loss Fair Unrealized Loss Fixed maturities available for sale: Investment grade securities: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 291,797 $ (8,844 ) $ 66,160 $ (2,799 ) $ 357,957 $ (11,643 ) States, municipalities and political subdivisions 181,894 (4,832 ) 1,632 (21 ) 183,526 (4,853 ) Corporates, by sector: Financial 934,194 (38,148 ) 69,993 (5,518 ) 1,004,187 (43,666 ) Utilities 420,921 (17,417 ) 45,084 (3,540 ) 466,005 (20,957 ) Energy 216,903 (8,981 ) 49,052 (7,689 ) 265,955 (16,670 ) Other corporate sectors 2,611,151 (122,430 ) 235,655 (25,153 ) 2,846,806 (147,583 ) Total corporates 4,183,169 (186,976 ) 399,784 (41,900 ) 4,582,953 (228,876 ) Other asset-backed securities 64,963 (872 ) — — 64,963 (872 ) Redeemable preferred stocks, by sector: Financial 10,050 (725 ) — — 10,050 (725 ) Utilities — — 5,594 (414 ) 5,594 (414 ) Total redeemable preferred stocks 10,050 (725 ) 5,594 (414 ) 15,644 (1,139 ) Total investment grade securities 4,731,873 (202,249 ) 473,170 (45,134 ) 5,205,043 (247,383 ) Below investment grade securities: Corporates, by sector: Financial 24,873 (5,895 ) 62,073 (12,884 ) 86,946 (18,779 ) Utilities 15,059 (48 ) — — 15,059 (48 ) Energy 12,647 (533 ) 68,890 (20,775 ) 81,537 (21,308 ) Other corporate sectors 47,218 (1,713 ) 68,813 (15,876 ) 116,031 (17,589 ) Total corporates 99,797 (8,189 ) 199,776 (49,535 ) 299,573 (57,724 ) Collateralized debt obligations — — 15,003 (4,997 ) 15,003 (4,997 ) Redeemable preferred stocks, by sector: Financial — — 23,611 (3,472 ) 23,611 (3,472 ) Total redeemable preferred stocks — — 23,611 (3,472 ) 23,611 (3,472 ) Total below investment grade securities 99,797 (8,189 ) 238,390 (58,004 ) 338,187 (66,193 ) Total fixed maturities $ 4,831,670 $ (210,438 ) $ 711,560 $ (103,138 ) $ 5,543,230 $ (313,576 ) 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 ) 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 ) 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 ) 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 ) 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	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes In 2017, the 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 prior year periods. The effective income tax rate differed from the expected rate for the three and nine month periods ended September 30, 2018 and 2017 as shown below: Three Months Ended September 30, 2018 % 2017 % Expected income taxes $ 46,270 21.0 $ 77,214 35.0 Increase (reduction) in income taxes resulting from: Low income housing investments (2,779 ) (1.3 ) (4,367 ) (2.0 ) Share-based awards (2,601 ) (1.2 ) (5,075 ) (2.3 ) Other 740 0.4 (508 ) (0.2 ) Income tax expense (benefit) from continuing operations $ 41,630 18.9 $ 67,264 30.5 Nine Months Ended September 30, 2018 % 2017 % Expected income taxes $ 138,608 21.0 $ 214,997 35.0 Increase (reduction) in income taxes resulting from: Low income housing investments (9,428 ) (1.4 ) (13,665 ) (2.2 ) Share-based awards (6,855 ) (1.0 ) (14,513 ) (2.4 ) Other 907 0.1 (3,429 ) (0.5 ) Income tax expense (benefit) from continuing operations $ 123,232 18.7 $ 183,390 29.9 As of December 31, 2017, the Company recorded $877 million of tax benefits in net income, which results from remeasuring 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. The guidance allows companies up to one year to finalize the impact. The Company did not make any adjustments to this estimate for the period ended September 30, 2018 . However, the Company will continue to analyze relevant information to complete the accounting for income taxes process in the fourth quarter of 2018.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 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 on July 27, 2018, the Court granted the Company’s motion. On September 12, 2018, putative class action litigation was filed against American Income Life Insurance Company in California’s Contra Costa County Superior Court ( Joh v. American Income Life Insurance Company , Case No. C18-01863). The plaintiff, a former insurance sales agent of American Income, is suing on behalf of all current and former sales agents who sold insurance for American Income in the state of California for the last four years prior to the filing of the complaint. The complaint alleges that sales agents are employees and asserts claims under the California Labor Code and California Business and Professions Code. The complaint seeks compensatory damages, penalties and attorney fees on claims for failure to pay wages/commissions, failure to appropriately pay agents at termination, failure to provide itemized wage statements, failure to reimburse expenses and unfair business practices. The Company continues to assess the amount and thus does not have a reasonable estimate of any potential liability. On October 18, 2018, putative class action litigation was filed against Torchmark Corporation and American Income Life Insurance Company in California’s Los Angeles County Superior Court ( Golz v. American Income Life Insurance Company , et al Case No. 18STCV01354). The complaint alleges that the putative class members are employees and asserts claims under the California Labor Code, California Business and Professions Code, and the Fair Labor Standards Act. The complaint alleges that plaintiff was an American Income insurance agent trainee in California who seeks to represent classes of individuals whom American Income classified as independent contractors during the class periods alleged. One class period based on California Labor Code claims is alleged to begin four years prior to the complaint’s filing. Another class period, which is based on the Fair Labor Standards Act claim, is alleged to begin three years prior to the complaint’s filing and is pleaded as a national class. The complaint seeks compensatory damages, penalties, and attorney fees on claims for failure to pay wages due, failure to appropriately pay wages at termination, failure to provide itemized wage statements, and unfair business practices. The Company continues to assess the amount and thus does not have a reasonable estimate of any potential liability. 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	9 Months Ended
	Sep. 30, 2018
Insurance [Abstract]
Liability for Unpaid Claims	Liability for Unpaid Claims Activity in the liability for unpaid health claims is summarized as follows: Nine Months Ended 2018 2017 Balance at beginning of period $ 146,865 $ 143,128 Incurred related to: Current year 411,662 393,747 Prior years (3,795 ) (10,745 ) Total incurred 407,867 383,002 Paid related to: Current year 293,800 279,563 Prior years 113,109 103,010 Total paid 406,909 382,573 Balance at end of period $ 147,823 $ 143,557 Below is the reconciliation of the liability for "Policy claims and other benefits payable" in the Condensed Consolidated Balance Sheets . September 30, December 31, 2017 Policy claims and other benefits payable: Life insurance $ 190,158 $ 186,429 Health insurance 147,823 146,865 Total $ 337,981 $ 333,294

Postretirement Benefits

Postretirement Benefits	9 Months Ended
	Sep. 30, 2018
Retirement Benefits [Abstract]
Postretirement Benefits	Postretirement Benefits The following tables present a summary of post-retirement benefit costs by component for the three and nine month periods ended September 30, 2018 and 2017 . Components of Post-Retirement Benefit Costs Three Months Ended September 30, Pension Benefits Other Benefits 2018 2017 2018 2017 Service cost $ 5,277 $ 4,486 $ — $ — Interest cost 5,496 5,552 228 249 Expected return on assets (6,363 ) (5,900 ) — — Amortization: Prior service cost 119 118 — — Actuarial (gain) loss 3,636 2,952 23 38 Direct recognition of expense — — 80 111 Net periodic benefit cost $ 8,165 $ 7,208 $ 331 $ 398 Nine Months Ended September 30, Pension Benefits Other Benefits 2018 2017 2018 2017 Service cost $ 15,831 $ 13,457 $ — $ — Interest cost 16,482 16,653 684 749 Expected return on assets (19,089 ) (17,697 ) — — Amortization: Prior service cost 357 356 — — Actuarial (gain) loss 10,908 8,855 69 115 Direct recognition of expense — — 305 323 Net periodic benefit cost $ 24,489 $ 21,624 $ 1,058 $ 1,187 The following tables present the assets of Torchmark’s defined benefit pension plans at September 30, 2018 and December 31, 2017 . Pension Assets by Component at September 30, 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 $ $ 47,522 $ $ 47,522 11 Utilities 39,258 39,258 9 Energy 23,632 23,632 6 Other corporates 84,388 84,388 20 Total corporate bonds — 194,800 — 194,800 46 Exchange traded fund (1) 181,449 181,449 43 Other bonds 242 242 — Other long-term investments 5,366 5,366 1 Guaranteed annuity contract (2) 26,418 26,418 7 Short-term investments 9,304 9,304 2 Other 4,179 4,179 1 Total Pension Assets $ 194,932 $ 226,826 $ — $ 421,758 100 (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 Total Pension Assets $ 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 September 30, 2018 and December 31, 2017 . Pension Liability September 30, December 31, 2017 Funded defined benefit pension $ 494,323 $ 518,141 SERP (1) 85,732 84,465 Pension Benefit Obligation $ 580,055 $ 602,606 (1) Supplemental executive retirement plan (SERP). The following table includes information regarding the SERP at September 30, 2018 and December 31, 2017 . September 30, December 31, 2017 Premiums paid for insurance coverage $ 2,997 $ 2,050 Total investments: Company owned life insurance $ 43,976 $ 40,273 Exchange traded funds 56,776 55,442 $ 100,752 $ 95,715 Liability: Active plan $ 83,320 $ 81,457 Closed plan 2,412 3,008 $ 85,732 $ 84,465

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended 2018 2017 2018 2017 Basic weighted average shares outstanding 112,587,623 115,921,134 113,366,465 116,772,652 Weighted average dilutive options outstanding 2,386,831 2,521,815 2,418,281 2,540,955 Diluted weighted average shares outstanding 114,974,454 118,442,949 115,784,746 119,313,607 Antidilutive shares 1,375,186 — 1,097,439 1,174,469

Debt

Debt	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Debt	Debt Issuance of long-term debt: On September 27, 2018, Torchmark completed the issuance and sale of $550 million in aggregate principal of Torchmark’s 4.55% Senior Notes due September 15, 2028 . The notes were sold pursuant to Torchmark’s shelf registration statement on Form S-3. The net proceeds from the sale of the notes were $543 million , after giving effect to the underwriting discounts and commissions and offering expenses payable by Torchmark. Torchmark used the net proceeds from the sale of the notes to redeem the $293 million outstanding principal amount on Torchmark’s 9.25% Senior Notes on October 29, 2018, the payment of $10.7 million for the make-whole premium plus accrued and unpaid interest to, but excluding, the date of redemption of such Senior Notes, and to fund $150 million of additional capital to its insurance subsidiaries. Torchmark intends to use any remaining net proceeds for general corporate purposes, which may include additional holding company liquidity and the repayment of a portion of Torchmark’s outstanding commercial paper.

Business Segments

Business Segments	9 Months Ended
	Sep. 30, 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 Corporate and 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, the disposals have little effect on the size of the portfolio as the proceeds of the disposals are reinvested in 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 pre-tax income and each significant line item in its Condensed Consolidated Statements of Operations . During the third quarter of 2018, Torchmark recorded $3.6 million in administrative settlements related to state regulatory examinations. Reconciliation of Segment Operating Information to the Condensed Consolidated Statement of Operations Three Months Ended September 30, 2018 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 605,547 $ 255,201 $ 2 $ 860,750 Net investment income $ 221,627 221,627 Other income $ 416 $ (23 ) (2) 393 Total revenue 605,547 255,201 2 221,627 416 (23 ) 1,082,770 Expenses: Policy benefits 396,701 162,574 8,581 567,856 Required interest on reserves (160,058 ) (20,965 ) (11,831 ) 192,854 — Required interest on DAC 48,907 6,136 145 (55,188 ) — Amortization of acquisition costs 103,792 25,162 538 129,492 Commissions, premium taxes, and non-deferred acquisition costs 47,609 22,041 5 (23 ) (2) 69,632 Insurance administrative expense (1) 55,812 3,590 (3) 59,402 Parent expense 2,667 1,578 (4) 4,245 Stock-based compensation expense 10,412 10,412 Interest expense 22,433 22,433 Total expenses 436,951 194,948 (2,562 ) 160,099 68,891 5,145 863,472 Subtotal 168,596 60,253 2,564 61,528 (68,475 ) (5,168 ) 219,298 Non-operating items 5,168 (3,4) 5,168 Measure of segment profitability (pretax) $ 168,596 $ 60,253 $ 2,564 $ 61,528 $ (68,475 ) $ — 224,466 Deduct applicable income taxes (41,744 ) Net operating income 182,722 Add back income taxes applicable to segment profitability 41,744 Add (deduct) realized investment gains (losses) 1,032 Add (deduct) administrative settlements (3,590 ) Add (deduct) non-operating costs (1,578 ) Income before income taxes per Condensed Consolidated Statement of Operations $ 220,330 (1) Administrative expense is not allocated to insurance segments. (2) Elimination of intersegment commission. (3) Administrative settlements. (4) Non-operating costs. Three Months Ended September 30, 2017 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 576,223 $ 242,991 $ 3 $ 819,217 Net investment income $ 213,872 213,872 Other income $ 361 $ (30 ) (2) 331 Total revenue 576,223 242,991 3 213,872 361 (30 ) 1,033,420 Expenses: Policy benefits 386,445 155,774 9,000 551,219 Required interest on reserves (152,862 ) (19,617 ) (12,433 ) 184,912 — Required interest on DAC 46,893 5,881 172 (52,946 ) — Amortization of acquisition costs 98,268 23,458 608 122,334 Commissions, premium taxes, and non-deferred acquisition costs 44,748 21,746 7 1,362 (2,3) 67,863 Insurance administrative expense (1) 52,426 52,426 Parent expense 2,330 2,330 Stock-based compensation expense 8,263 8,263 Interest expense 20,970 20,970 Total expenses 423,492 187,242 (2,646 ) 152,936 63,019 1,362 825,405 Subtotal 152,731 55,749 2,649 60,936 (62,658 ) (1,392 ) 208,015 Non-operating items 1,392 (3) 1,392 Measure of segment profitability (pretax) $ 152,731 $ 55,749 $ 2,649 $ 60,936 $ (62,658 ) $ — 209,407 Deduct applicable income taxes (63,342 ) Net operating income 146,065 Add back income taxes applicable to segment profitability 63,342 Add (deduct) realized investment gains (losses) 12,595 Add (deduct) guaranty fund assessments (1,392 ) Income before income taxes per Condensed Consolidated Statement of Operations $ 220,610 (1) Administrative expense is not allocated to insurance segments. (2) Elimination of intersegment commission. (3) Guaranty fund assessments. Nine Months Ended September 30, 2018 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 1,806,384 $ 758,439 $ 12 $ 2,564,835 Net investment income $ 658,279 658,279 Other income $ 1,180 $ (76 ) (2) 1,104 Total revenue 1,806,384 758,439 12 658,279 1,180 (76 ) 3,224,218 Expenses: Policy benefits 1,196,616 483,654 25,852 1,706,122 Required interest on reserves (474,373 ) (62,095 ) (35,733 ) 572,201 — Required interest on DAC 145,126 18,228 448 (163,802 ) — Amortization of acquisition costs 312,168 74,311 1,710 388,189 Commissions, premium taxes, and non-deferred acquisition costs 142,253 66,502 19 (76 ) (2) 208,698 Insurance administrative expense (1) 166,560 3,590 (3) 170,150 Parent expense 7,806 1,578 (4) 9,384 Stock-based compensation expense 29,969 29,969 Interest expense 66,466 66,466 Total expenses 1,321,790 580,600 (7,704 ) 474,865 204,335 5,092 2,578,978 Subtotal 484,594 177,839 7,716 183,414 (203,155 ) (5,168 ) 645,240 Non-operating items 5,168 (3,4) 5,168 Measure of segment profitability (pretax) $ 484,594 $ 177,839 $ 7,716 $ 183,414 $ (203,155 ) $ — 650,408 Deduct applicable income taxes (120,456 ) Net operating income 529,952 Add back income taxes applicable to segment profitability 120,456 Add (deduct) realized investment gains (losses) 14,796 Add (deduct) administrative settlements (3,590 ) Add (deduct) non-operating costs (1,578 ) Income before income taxes per Condensed Consolidated Statements of Operations $ 660,036 (1) Administrative expense is not allocated to insurance segments. (2) Elimination of intersegment commission. (3) Administrative settlements. (4) Non-operating costs. Nine Months Ended September 30, 2017 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 1,725,896 $ 730,557 $ 9 $ 2,456,462 Net investment income $ 634,930 634,930 Other income $ 1,239 $ (99 ) (2) 1,140 Total revenue 1,725,896 730,557 9 634,930 1,239 (99 ) 3,092,532 Expenses: Policy benefits 1,166,289 470,104 26,923 2,094 (3) 1,665,410 Required interest on reserves (452,339 ) (57,859 ) (37,245 ) 547,443 — Required interest on DAC 139,042 17,530 524 (157,096 ) — Amortization of acquisition costs 296,646 71,801 1,916 370,363 Commissions, premium taxes, and non-deferred acquisition costs 132,094 64,599 25 1,293 (2,4) 198,011 Insurance administrative expense (1) 155,751 155,751 Parent expense 7,228 7,228 Stock-based compensation expense 24,809 24,809 Interest expense 62,825 62,825 Total expenses 1,281,732 566,175 (7,857 ) 453,172 187,788 3,387 2,484,397 Subtotal 444,164 164,382 7,866 181,758 (186,549 ) (3,486 ) 608,135 Non-operating items 3,486 (3,4) 3,486 Measure of segment profitability (pretax) $ 444,164 $ 164,382 $ 7,866 $ 181,758 $ (186,549 ) $ — 611,621 Deduct applicable income taxes (184,703 ) Net operating income 426,918 Add back income taxes applicable to segment profitability 184,703 Add (deduct) realized investment gains (losses) 6,142 Add (deduct) administrative settlements (2,094 ) Add (deduct) guaranty fund assessments (1,392 ) Income before income taxes per Condensed Consolidated Statements of Operations $ 614,277 (1) Administrative expense is not allocated to insurance segments. (2) Elimination of intersegment commission. (3) Administrative settlements. (4) Guaranty fund assessments.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 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 September 30, 2018 , and the condensed consolidated results of operations, comprehensive income, and cash flows for the periods ended September 30, 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 certain 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 certain limited partnerships 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 September 30, 2018 , the fair value balance of the limited partnerships were $108 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 $3.2 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 nine months ended September 30, 2018 , the Company recorded $2.4 million 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/ASU 2018-11: In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , with clarification guidance issued in July 2018. The guidance requires lessees to record a right-of-use asset and corresponding lease liability on the balance sheet for all operating leases that do not qualify for the practical expedients allowed for in this standard. Additional qualitative and quantitative disclosures will be required. This standard will become effective for the Company beginning January 1, 2019. The Company plans to adopt the optional transition method allowed for under ASU 2018-11 by not restating comparative periods and recognizing a cumulative-effect adjustment to the opening balance of retained earnings on the period of adoption. The Company is not a lessor. The Company has made significant progress during 2018 and has implemented appropriate solutions to identify and quantify applicable operating leases in accordance with this guidance. The Company is in the process of finalizing the analysis of the impact of the new guidance, but 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. 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 on 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. ASU 2018-12: In August 2018, the FASB issued ASU No. 2018-12, Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts . The guidance was primarily issued to 1) improve the timeliness of recognizing changes in the liability for future policy benefits and modify the rate used to discount future cash flows, 2) simplify and improve the accounting for certain market-based options or guarantees associated with deposit (or account balance) contracts, 3) simplify the amortization of deferred acquisition costs, and 4) improve the effectiveness of the required disclosures. This guidance is effective beginning January 1, 2021, and should be applied on a retrospective basis. Early adoption of the amendments is permitted. ASU 2018-12 will require changes to the Company's actuarial systems and data inputs related to the valuation of the liabilities. The Company is in the process of evaluating the impact this guidance will have on the financial statements and cannot reasonably estimate at this time. ASU 2018-13: In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement . The amendment modifies the disclosure requirements for fair value measurements by removing, modifying, or adding certain disclosures. The revised guidance is effective beginning January 1, 2020. The removed and modified disclosures will be adopted on a retrospective basis and the new disclosures will be adopted on a prospective basis. Early adoption of the amendments is permitted. The Company does not expect the adoption of this guidance to have a material impact on the financial statements. ASU 2018-14: In August 2018, the FASB issued ASU No. 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20), Changes to the Disclosure Requirements for Defined Benefit Plans . The guidance removes disclosures that are no longer considered cost beneficial, clarifies the specific requirements of disclosures and adds disclosure requirements identified as relevant. This guidance is effective beginning January 1, 2021, and will be applied retrospectively. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on the financial statements. ASU 2018-15: In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract. The guidance was issued to align the accounting for implementation costs of hosting arrangements, regardless of whether they convey a license to the hosted software. Accordingly, the standard requires the capitalization of implementation costs incurred in a hosting arrangement that is a service contract, similar to the treatment for developed or obtained internal-use software. The guidance is effective beginning January 1, 2020, and the Company plans to apply the standards on a prospective basis. Early adoption of the amendments is also permitted. The Company is in the process of determining the impact this guidance will have on the financial statements.

Supplemental Information abou_2

Supplemental Information about Changes to Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 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 and nine month periods ended September 30, 2018 and 2017 . Components of Accumulated Other Comprehensive Income Three Months Ended September 30, 2017 Available Deferred Foreign Pension Total Balance at July 1, 2017 $ 1,090,055 $ (7,655 ) $ 10,902 $ (108,742 ) $ 984,560 Other comprehensive income (loss) before reclassifications, net of tax 55,160 328 5,547 — 61,035 Reclassifications, net of tax (8,314 ) — — 2,021 (6,293 ) Other comprehensive income (loss) 46,846 328 5,547 2,021 54,742 Balance at September 30, 2017 $ 1,136,901 $ (7,327 ) $ 16,449 $ (106,721 ) $ 1,039,302 Three Months Ended September 30, 2018 Available Deferred Foreign Pension Total Balance at July 1, 2018 $ 746,514 $ (6,579 ) $ 10,365 $ (146,801 ) $ 603,499 Other comprehensive income (loss) before reclassifications, net of tax (129,296 ) 930 (132 ) — (128,498 ) Reclassifications, net of tax (362 ) — — 2,985 2,623 Other comprehensive income (loss) (129,658 ) 930 (132 ) 2,985 (125,875 ) Balance at September 30, 2018 $ 616,856 $ (5,649 ) $ 10,233 $ (143,816 ) $ 477,624 Nine Months Ended September 30, 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 453,455 (645 ) 11,482 241 464,533 Reclassifications, net of tax (8,868 ) — — 6,063 (2,805 ) Other comprehensive income (loss) 444,587 (645 ) 11,482 6,304 461,728 Balance at September 30, 2017 $ 1,136,901 $ (7,327 ) $ 16,449 $ (106,721 ) $ 1,039,302 Nine Months Ended September 30, 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 (944,758 ) 2,898 (6,069 ) — (947,929 ) Reclassifications, net of tax (7,675 ) — — 8,954 1,279 Other comprehensive income (loss) (952,433 ) 2,898 (6,069 ) 8,954 (946,650 ) Balance at September 30, 2018 $ 616,856 $ (5,649 ) $ 10,233 $ (143,816 ) $ 477,624
Summary of Reclassifications Out of Accumulated Other Comprehensive Income	Reclassifications out of Accumulated Other Comprehensive Income are presented below for the three and nine month periods ended September 30, 2018 and 2017 . Reclassification Adjustments Three Months Ended Nine Months Ended Affected line items in the Statement of Operations 2018 2017 2018 2017 Unrealized investment gains (losses) on available for sale assets: Realized (gains) losses $ (1,510 ) $ (12,910 ) $ (12,327 ) $ (13,264 ) Realized investment gains (losses) Amortization of (discount) premium 1,052 119 2,612 (379 ) Net investment income Total before tax (458 ) (12,791 ) (9,715 ) (13,643 ) Tax 96 4,477 2,040 4,775 Income taxes Total after-tax (362 ) (8,314 ) (7,675 ) (8,868 ) Pension adjustments: Amortization of prior service cost 119 118 357 356 Other operating expense Amortization of actuarial gain (loss) 3,659 2,990 10,977 8,970 Other operating expense Total before tax 3,778 3,108 11,334 9,326 Tax (793 ) (1,087 ) (2,380 ) (3,263 ) Income taxes Total after-tax 2,985 2,021 8,954 6,063 Total reclassifications (after-tax) $ 2,623 $ (6,293 ) $ 1,279 $ (2,805 )

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2018 and December 31, 2017 is as follows: September 30, 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 $ 392,779 $ 255 $ (11,643 ) $ 381,391 3 States, municipalities, and political subdivisions 1,262,710 84,503 (4,853 ) 1,342,360 8 Foreign governments 18,918 1,721 — 20,639 — Corporates, by sector: Financial 3,363,794 239,614 (62,445 ) 3,540,963 21 Utilities 1,964,029 215,959 (21,005 ) 2,158,983 13 Energy 1,635,710 136,144 (37,978 ) 1,733,876 11 Other corporate sectors 6,242,246 329,169 (165,172 ) 6,406,243 40 Total corporates 13,205,779 920,886 (286,600 ) 13,840,065 85 Collateralized debt obligations 57,794 26,119 (4,997 ) 78,916 — Other asset-backed securities 150,218 1,845 (872 ) 151,191 1 Redeemable preferred stocks, by sector: Financial 345,651 46,022 (4,197 ) 387,476 3 Utilities 28,515 1,332 (414 ) 29,433 — Total redeemable preferred stocks 374,166 47,354 (4,611 ) 416,909 3 Total fixed maturities $ 15,462,364 $ 1,082,683 $ (313,576 ) $ 16,231,471 100 (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 September 30, 2018 is shown below on an amortized cost basis and on a fair value basis. Actual disposition dates could differ from contractual maturities due to call or prepayment provisions. September 30, 2018 Amortized Fair Value Fixed maturities available for sale: Due in one year or less $ 189,867 $ 193,934 Due after one year through five years 611,511 632,417 Due after five years through ten years 1,686,348 1,820,952 Due after ten years through twenty years 5,023,824 5,505,111 Due after twenty years 7,742,061 7,848,163 Mortgage-backed and asset-backed securities 208,753 230,894 $ 15,462,364 $ 16,231,471
Schedule Of Selected Information About Sales Of Fixed Maturities Available for Sale	Selected information about sales of fixed maturities available for sale is as follows. Three Months Ended Nine Months Ended 2018 2017 2018 2017 Fixed maturities available for sale: Proceeds from sales $ 12,162 $ 52,951 $ 12,162 $ 52,951 Gross realized gains 66 4,851 66 4,851 Gross realized losses — — — —
Schedule of Assets Measured at Fair Value on Recurring Basis	The following tables represent the fair value of fixed maturities available for sale measured on a recurring basis at September 30, 2018 and December 31, 2017 . Fair Value Measurements at September 30, 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 $ — $ 381,391 $ — $ 381,391 States, municipalities, and political subdivisions — 1,342,360 — 1,342,360 Foreign governments — 20,639 — 20,639 Corporates, by sector: Financial — 3,497,807 43,156 3,540,963 Utilities — 2,006,462 152,521 2,158,983 Energy — 1,694,481 39,395 1,733,876 Other corporate sectors — 6,085,281 320,962 6,406,243 Total corporates — 13,284,031 556,034 13,840,065 Collateralized debt obligations — — 78,916 78,916 Other asset-backed securities — 138,407 12,784 151,191 Redeemable preferred stocks, by sector: Financial — 387,476 — 387,476 Utilities — 29,433 — 29,433 Total redeemable preferred stocks — 416,909 — 416,909 Total fixed maturities $ — $ 15,583,737 $ 647,734 $ 16,231,471 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 nine months ended September 30, 2018 and 2017 . Analysis of Changes in Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Nine Months Ended September 30, 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 — — 698 698 Included in other comprehensive income (950 ) 8,691 (21,854 ) (14,113 ) Acquisitions — — 27,453 27,453 Sales — — — — Amortization — 3,572 13 3,585 Other (2) (315 ) (4,928 ) (37,619 ) (42,862 ) Transfers in and/or out of Level 3 (3) — — 4,533 4,533 Balance at September 30, 2018 $ 12,784 $ 78,916 $ 556,034 $ 647,734 Percent of total fixed maturities 0.1 % 0.5 % 3.4 % 4.0 % (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. Nine Months Ended September 30, 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 595 7,787 10,614 18,996 Acquisitions 14,000 — 21,666 35,666 Sales — — — — Amortization — 3,705 14 3,719 Other (2) (212 ) (5,227 ) (7,411 ) (12,850 ) Transfers in and/or out of Level 3 (3) — — — — Balance at September 30, 2017 $ 14,383 $ 69,768 $ 584,483 $ 668,634 Percent of total fixed maturities 0.1 % 0.4 % 3.5 % 4.0 % (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. Nine Months Ended September 30, 2018 2017 In Out Net In Out Net Level 1 $ — $ — $ — $ 42,328 $ (597 ) $ 41,731 Level 2 — (4,533 ) (4,533 ) 597 (42,328 ) (41,731 ) Level 3 4,533 — 4,533 — — —
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 September 30, 2018 , and the changes in fair value for the nine months ended September 30, 2018 . Fair Value Measurements at September 30, 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 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 partnerships $ — $ 107,996 $ — $ 107,996 $ 2,405 $ — $ 2,405
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 September 30, 2018 598 122 720 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 September 30, 2018 and December 31, 2017 , respectively. Torchmark considers these investments to be only temporarily impaired. Analysis of Gross Unrealized Investment Losses At September 30, 2018 Less than Twelve Months Twelve Months or Longer Total Description of Securities Fair Value Unrealized Loss Fair Unrealized Loss Fair Unrealized Loss Fixed maturities available for sale: Investment grade securities: U.S. Government direct, guaranteed, and government-sponsored enterprises $ 291,797 $ (8,844 ) $ 66,160 $ (2,799 ) $ 357,957 $ (11,643 ) States, municipalities and political subdivisions 181,894 (4,832 ) 1,632 (21 ) 183,526 (4,853 ) Corporates, by sector: Financial 934,194 (38,148 ) 69,993 (5,518 ) 1,004,187 (43,666 ) Utilities 420,921 (17,417 ) 45,084 (3,540 ) 466,005 (20,957 ) Energy 216,903 (8,981 ) 49,052 (7,689 ) 265,955 (16,670 ) Other corporate sectors 2,611,151 (122,430 ) 235,655 (25,153 ) 2,846,806 (147,583 ) Total corporates 4,183,169 (186,976 ) 399,784 (41,900 ) 4,582,953 (228,876 ) Other asset-backed securities 64,963 (872 ) — — 64,963 (872 ) Redeemable preferred stocks, by sector: Financial 10,050 (725 ) — — 10,050 (725 ) Utilities — — 5,594 (414 ) 5,594 (414 ) Total redeemable preferred stocks 10,050 (725 ) 5,594 (414 ) 15,644 (1,139 ) Total investment grade securities 4,731,873 (202,249 ) 473,170 (45,134 ) 5,205,043 (247,383 ) Below investment grade securities: Corporates, by sector: Financial 24,873 (5,895 ) 62,073 (12,884 ) 86,946 (18,779 ) Utilities 15,059 (48 ) — — 15,059 (48 ) Energy 12,647 (533 ) 68,890 (20,775 ) 81,537 (21,308 ) Other corporate sectors 47,218 (1,713 ) 68,813 (15,876 ) 116,031 (17,589 ) Total corporates 99,797 (8,189 ) 199,776 (49,535 ) 299,573 (57,724 ) Collateralized debt obligations — — 15,003 (4,997 ) 15,003 (4,997 ) Redeemable preferred stocks, by sector: Financial — — 23,611 (3,472 ) 23,611 (3,472 ) Total redeemable preferred stocks — — 23,611 (3,472 ) 23,611 (3,472 ) Total below investment grade securities 99,797 (8,189 ) 238,390 (58,004 ) 338,187 (66,193 ) Total fixed maturities $ 4,831,670 $ (210,438 ) $ 711,560 $ (103,138 ) $ 5,543,230 $ (313,576 ) 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 ) 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 ) 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 ) 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 ) 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)	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Summary of Effective Income Tax Rate	The effective income tax rate differed from the expected rate for the three and nine month periods ended September 30, 2018 and 2017 as shown below: Three Months Ended September 30, 2018 % 2017 % Expected income taxes $ 46,270 21.0 $ 77,214 35.0 Increase (reduction) in income taxes resulting from: Low income housing investments (2,779 ) (1.3 ) (4,367 ) (2.0 ) Share-based awards (2,601 ) (1.2 ) (5,075 ) (2.3 ) Other 740 0.4 (508 ) (0.2 ) Income tax expense (benefit) from continuing operations $ 41,630 18.9 $ 67,264 30.5 Nine Months Ended September 30, 2018 % 2017 % Expected income taxes $ 138,608 21.0 $ 214,997 35.0 Increase (reduction) in income taxes resulting from: Low income housing investments (9,428 ) (1.4 ) (13,665 ) (2.2 ) Share-based awards (6,855 ) (1.0 ) (14,513 ) (2.4 ) Other 907 0.1 (3,429 ) (0.5 ) Income tax expense (benefit) from continuing operations $ 123,232 18.7 $ 183,390 29.9

Liability for Unpaid Claims (Ta

Liability for Unpaid Claims (Tables)	9 Months Ended
	Sep. 30, 2018
Insurance [Abstract]
Activity in the Liability for Unpaid Health Claims	Activity in the liability for unpaid health claims is summarized as follows: Nine Months Ended 2018 2017 Balance at beginning of period $ 146,865 $ 143,128 Incurred related to: Current year 411,662 393,747 Prior years (3,795 ) (10,745 ) Total incurred 407,867 383,002 Paid related to: Current year 293,800 279,563 Prior years 113,109 103,010 Total paid 406,909 382,573 Balance at end of period $ 147,823 $ 143,557
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 . September 30, December 31, 2017 Policy claims and other benefits payable: Life insurance $ 190,158 $ 186,429 Health insurance 147,823 146,865 Total $ 337,981 $ 333,294

Postretirement Benefits (Tables

Postretirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2018
Retirement Benefits [Abstract]
Summary of Post-Retirement Benefit Costs by Component	The following tables present a summary of post-retirement benefit costs by component for the three and nine month periods ended September 30, 2018 and 2017 . Components of Post-Retirement Benefit Costs Three Months Ended September 30, Pension Benefits Other Benefits 2018 2017 2018 2017 Service cost $ 5,277 $ 4,486 $ — $ — Interest cost 5,496 5,552 228 249 Expected return on assets (6,363 ) (5,900 ) — — Amortization: Prior service cost 119 118 — — Actuarial (gain) loss 3,636 2,952 23 38 Direct recognition of expense — — 80 111 Net periodic benefit cost $ 8,165 $ 7,208 $ 331 $ 398 Nine Months Ended September 30, Pension Benefits Other Benefits 2018 2017 2018 2017 Service cost $ 15,831 $ 13,457 $ — $ — Interest cost 16,482 16,653 684 749 Expected return on assets (19,089 ) (17,697 ) — — Amortization: Prior service cost 357 356 — — Actuarial (gain) loss 10,908 8,855 69 115 Direct recognition of expense — — 305 323 Net periodic benefit cost $ 24,489 $ 21,624 $ 1,058 $ 1,187
Schedule of Assets at Fair Value for Defined-Benefit Pension Plans	The following tables present the assets of Torchmark’s defined benefit pension plans at September 30, 2018 and December 31, 2017 . Pension Assets by Component at September 30, 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 $ $ 47,522 $ $ 47,522 11 Utilities 39,258 39,258 9 Energy 23,632 23,632 6 Other corporates 84,388 84,388 20 Total corporate bonds — 194,800 — 194,800 46 Exchange traded fund (1) 181,449 181,449 43 Other bonds 242 242 — Other long-term investments 5,366 5,366 1 Guaranteed annuity contract (2) 26,418 26,418 7 Short-term investments 9,304 9,304 2 Other 4,179 4,179 1 Total Pension Assets $ 194,932 $ 226,826 $ — $ 421,758 100 (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 Total Pension Assets $ 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 September 30, 2018 and December 31, 2017 . Pension Liability September 30, December 31, 2017 Funded defined benefit pension $ 494,323 $ 518,141 SERP (1) 85,732 84,465 Pension Benefit Obligation $ 580,055 $ 602,606 (1) Supplemental executive retirement plan (SERP).
Schedule of Defined Benefit Plans Disclosures	The following table includes information regarding the SERP at September 30, 2018 and December 31, 2017 . September 30, December 31, 2017 Premiums paid for insurance coverage $ 2,997 $ 2,050 Total investments: Company owned life insurance $ 43,976 $ 40,273 Exchange traded funds 56,776 55,442 $ 100,752 $ 95,715 Liability: Active plan $ 83,320 $ 81,457 Closed plan 2,412 3,008 $ 85,732 $ 84,465

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended 2018 2017 2018 2017 Basic weighted average shares outstanding 112,587,623 115,921,134 113,366,465 116,772,652 Weighted average dilutive options outstanding 2,386,831 2,521,815 2,418,281 2,540,955 Diluted weighted average shares outstanding 114,974,454 118,442,949 115,784,746 119,313,607 Antidilutive shares 1,375,186 — 1,097,439 1,174,469

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Sep. 30, 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 pre-tax income and each significant line item in its Condensed Consolidated Statements of Operations . During the third quarter of 2018, Torchmark recorded $3.6 million in administrative settlements related to state regulatory examinations. Reconciliation of Segment Operating Information to the Condensed Consolidated Statement of Operations Three Months Ended September 30, 2018 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 605,547 $ 255,201 $ 2 $ 860,750 Net investment income $ 221,627 221,627 Other income $ 416 $ (23 ) (2) 393 Total revenue 605,547 255,201 2 221,627 416 (23 ) 1,082,770 Expenses: Policy benefits 396,701 162,574 8,581 567,856 Required interest on reserves (160,058 ) (20,965 ) (11,831 ) 192,854 — Required interest on DAC 48,907 6,136 145 (55,188 ) — Amortization of acquisition costs 103,792 25,162 538 129,492 Commissions, premium taxes, and non-deferred acquisition costs 47,609 22,041 5 (23 ) (2) 69,632 Insurance administrative expense (1) 55,812 3,590 (3) 59,402 Parent expense 2,667 1,578 (4) 4,245 Stock-based compensation expense 10,412 10,412 Interest expense 22,433 22,433 Total expenses 436,951 194,948 (2,562 ) 160,099 68,891 5,145 863,472 Subtotal 168,596 60,253 2,564 61,528 (68,475 ) (5,168 ) 219,298 Non-operating items 5,168 (3,4) 5,168 Measure of segment profitability (pretax) $ 168,596 $ 60,253 $ 2,564 $ 61,528 $ (68,475 ) $ — 224,466 Deduct applicable income taxes (41,744 ) Net operating income 182,722 Add back income taxes applicable to segment profitability 41,744 Add (deduct) realized investment gains (losses) 1,032 Add (deduct) administrative settlements (3,590 ) Add (deduct) non-operating costs (1,578 ) Income before income taxes per Condensed Consolidated Statement of Operations $ 220,330 (1) Administrative expense is not allocated to insurance segments. (2) Elimination of intersegment commission. (3) Administrative settlements. (4) Non-operating costs. Three Months Ended September 30, 2017 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 576,223 $ 242,991 $ 3 $ 819,217 Net investment income $ 213,872 213,872 Other income $ 361 $ (30 ) (2) 331 Total revenue 576,223 242,991 3 213,872 361 (30 ) 1,033,420 Expenses: Policy benefits 386,445 155,774 9,000 551,219 Required interest on reserves (152,862 ) (19,617 ) (12,433 ) 184,912 — Required interest on DAC 46,893 5,881 172 (52,946 ) — Amortization of acquisition costs 98,268 23,458 608 122,334 Commissions, premium taxes, and non-deferred acquisition costs 44,748 21,746 7 1,362 (2,3) 67,863 Insurance administrative expense (1) 52,426 52,426 Parent expense 2,330 2,330 Stock-based compensation expense 8,263 8,263 Interest expense 20,970 20,970 Total expenses 423,492 187,242 (2,646 ) 152,936 63,019 1,362 825,405 Subtotal 152,731 55,749 2,649 60,936 (62,658 ) (1,392 ) 208,015 Non-operating items 1,392 (3) 1,392 Measure of segment profitability (pretax) $ 152,731 $ 55,749 $ 2,649 $ 60,936 $ (62,658 ) $ — 209,407 Deduct applicable income taxes (63,342 ) Net operating income 146,065 Add back income taxes applicable to segment profitability 63,342 Add (deduct) realized investment gains (losses) 12,595 Add (deduct) guaranty fund assessments (1,392 ) Income before income taxes per Condensed Consolidated Statement of Operations $ 220,610 (1) Administrative expense is not allocated to insurance segments. (2) Elimination of intersegment commission. (3) Guaranty fund assessments. Nine Months Ended September 30, 2018 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 1,806,384 $ 758,439 $ 12 $ 2,564,835 Net investment income $ 658,279 658,279 Other income $ 1,180 $ (76 ) (2) 1,104 Total revenue 1,806,384 758,439 12 658,279 1,180 (76 ) 3,224,218 Expenses: Policy benefits 1,196,616 483,654 25,852 1,706,122 Required interest on reserves (474,373 ) (62,095 ) (35,733 ) 572,201 — Required interest on DAC 145,126 18,228 448 (163,802 ) — Amortization of acquisition costs 312,168 74,311 1,710 388,189 Commissions, premium taxes, and non-deferred acquisition costs 142,253 66,502 19 (76 ) (2) 208,698 Insurance administrative expense (1) 166,560 3,590 (3) 170,150 Parent expense 7,806 1,578 (4) 9,384 Stock-based compensation expense 29,969 29,969 Interest expense 66,466 66,466 Total expenses 1,321,790 580,600 (7,704 ) 474,865 204,335 5,092 2,578,978 Subtotal 484,594 177,839 7,716 183,414 (203,155 ) (5,168 ) 645,240 Non-operating items 5,168 (3,4) 5,168 Measure of segment profitability (pretax) $ 484,594 $ 177,839 $ 7,716 $ 183,414 $ (203,155 ) $ — 650,408 Deduct applicable income taxes (120,456 ) Net operating income 529,952 Add back income taxes applicable to segment profitability 120,456 Add (deduct) realized investment gains (losses) 14,796 Add (deduct) administrative settlements (3,590 ) Add (deduct) non-operating costs (1,578 ) Income before income taxes per Condensed Consolidated Statements of Operations $ 660,036 (1) Administrative expense is not allocated to insurance segments. (2) Elimination of intersegment commission. (3) Administrative settlements. (4) Non-operating costs. Nine Months Ended September 30, 2017 Life Health Annuity Investment Corporate & Other Adjustments Consolidated Revenue: Premium $ 1,725,896 $ 730,557 $ 9 $ 2,456,462 Net investment income $ 634,930 634,930 Other income $ 1,239 $ (99 ) (2) 1,140 Total revenue 1,725,896 730,557 9 634,930 1,239 (99 ) 3,092,532 Expenses: Policy benefits 1,166,289 470,104 26,923 2,094 (3) 1,665,410 Required interest on reserves (452,339 ) (57,859 ) (37,245 ) 547,443 — Required interest on DAC 139,042 17,530 524 (157,096 ) — Amortization of acquisition costs 296,646 71,801 1,916 370,363 Commissions, premium taxes, and non-deferred acquisition costs 132,094 64,599 25 1,293 (2,4) 198,011 Insurance administrative expense (1) 155,751 155,751 Parent expense 7,228 7,228 Stock-based compensation expense 24,809 24,809 Interest expense 62,825 62,825 Total expenses 1,281,732 566,175 (7,857 ) 453,172 187,788 3,387 2,484,397 Subtotal 444,164 164,382 7,866 181,758 (186,549 ) (3,486 ) 608,135 Non-operating items 3,486 (3,4) 3,486 Measure of segment profitability (pretax) $ 444,164 $ 164,382 $ 7,866 $ 181,758 $ (186,549 ) $ — 611,621 Deduct applicable income taxes (184,703 ) Net operating income 426,918 Add back income taxes applicable to segment profitability 184,703 Add (deduct) realized investment gains (losses) 6,142 Add (deduct) administrative settlements (2,094 ) Add (deduct) guaranty fund assessments (1,392 ) Income before income taxes per Condensed Consolidated Statements of Operations $ 614,277 (1) Administrative expense is not allocated to insurance segments. (2) Elimination of intersegment commission. (3) Administrative settlements. (4) Guaranty fund assessments.

New Accounting Standards (Detai

New Accounting Standards (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ 5,267,964		$ 4,806,208
Accounting Standards Update 2016-01 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings				$ 4,900
Accounting Standards Update 2017-07 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit costs	2,400
Accounting Standards Update 2018-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification from AOCI to retained earnings			252,000
Forecast [Member] | Accounting Standards Update 2017-07 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit costs		$ 3,200
Fair Value Option [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Investments, fair value disclosure	107,996
Partnership Interest [Member] | Fair Value Option [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Investments, fair value disclosure	$ 107,996		$ 0

Supplemental Information abou_3

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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 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	$ (128,498)	$ 61,035	(947,929)	464,533
Reclassifications, net of tax	2,623	(6,293)	1,279	(2,805)
Other comprehensive income (loss)	(125,875)	54,742	(946,650)	461,728
Stockholders' equity, ending balance	5,538,905	5,167,685	5,538,905	5,167,685
Available for Sale Assets [Member]
Accumulated Other Comprehensive Income, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	746,514	1,090,055	1,569,289	692,314
Other comprehensive income (loss) before reclassifications, net of tax	(129,296)	55,160	(944,758)	453,455
Reclassifications, net of tax	(362)	(8,314)	(7,675)	(8,868)
Other comprehensive income (loss)	(129,658)	46,846	(952,433)	444,587
Stockholders' equity, ending balance	616,856	1,136,901	616,856	1,136,901
Deferred Acquisition Costs [Member]
Accumulated Other Comprehensive Income, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	(6,579)	(7,655)	(8,547)	(6,682)
Other comprehensive income (loss) before reclassifications, net of tax	930	328	2,898	(645)
Reclassifications, net of tax	0	0	0	0
Other comprehensive income (loss)	930	328	2,898	(645)
Stockholders' equity, ending balance	(5,649)	(7,327)	(5,649)	(7,327)
Foreign Exchange [Member]
Accumulated Other Comprehensive Income, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	10,365	10,902	16,302	4,967
Other comprehensive income (loss) before reclassifications, net of tax	(132)	5,547	(6,069)	11,482
Reclassifications, net of tax	0	0	0	0
Other comprehensive income (loss)	(132)	5,547	(6,069)	11,482
Stockholders' equity, ending balance	10,233	16,449	10,233	16,449
Pension Adjustments [Member]
Accumulated Other Comprehensive Income, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	(146,801)	(108,742)	(152,770)	(113,025)
Other comprehensive income (loss) before reclassifications, net of tax	0	0	0	241
Reclassifications, net of tax	2,985	2,021	8,954	6,063
Other comprehensive income (loss)	2,985	2,021	8,954	6,304
Stockholders' equity, ending balance	(143,816)	(106,721)	(143,816)	(106,721)
Total [Member]
Accumulated Other Comprehensive Income, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	603,499	984,560	1,424,274	577,574
Stockholders' equity, ending balance	$ 477,624	$ 1,039,302	$ 477,624	$ 1,039,302

Supplemental Information abou_4

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		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Unrealized investment gains (losses) on available for sale assets:
Realized (gains) losses	$ (1,032)	$ (12,595)	$ (14,796)	$ (6,142)
Amortization of (discount) premium	(221,627)	(213,872)	(658,279)	(634,930)
Total before tax	(220,330)	(220,610)	(660,036)	(614,277)
Tax	41,630	67,264	123,232	183,390
Net income	(178,724)	(153,334)	(536,749)	(427,148)
Pension adjustments:
Tax	41,630	67,264	123,232	183,390
Reclassification out of Accumulated Other Comprehensive Income [Member]
Unrealized investment gains (losses) on available for sale assets:
Net income	2,623	(6,293)	1,279	(2,805)
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	(1,510)	(12,910)	(12,327)	(13,264)
Amortization of (discount) premium	1,052	119	2,612	(379)
Total before tax	(458)	(12,791)	(9,715)	(13,643)
Tax	96	4,477	2,040	4,775
Net income	(362)	(8,314)	(7,675)	(8,868)
Pension adjustments:
Tax	96	4,477	2,040	4,775
Reclassification out of Accumulated Other Comprehensive Income [Member] | Amortization of Prior Service Cost [Member]
Pension adjustments:
Pension adjustments	119	118	357	356
Reclassification out of Accumulated Other Comprehensive Income [Member] | Amortization of Actuarial Gain (Loss) [Member]
Pension adjustments:
Pension adjustments	3,659	2,990	10,977	8,970
Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension Adjustments [Member]
Unrealized investment gains (losses) on available for sale assets:
Total before tax	3,778	3,108	11,334	9,326
Tax	(793)	(1,087)	(2,380)	(3,263)
Net income	2,985	2,021	8,954	6,063
Pension adjustments:
Tax	$ (793)	$ (1,087)	$ (2,380)	$ (3,263)

Investments - Summary of Fixed

Investments - Summary of Fixed Maturities Available for Sale by Component (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 15,462,364	$ 14,995,101
Fair Value	16,231,471	16,969,325
Fixed maturities available for sale [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	15,462,364	14,995,101
Gross Unrealized Gains	1,082,683	2,056,907
Gross Unrealized Losses	(313,576)	(82,683)
Fair Value	$ 16,231,471	$ 16,969,325
Percentage of Total Fixed Maturities	100.00%	100.00%
Fixed maturities available for sale [Member] | U.S. Government direct, guaranteed, and government-sponsored enterprises [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 392,779	$ 390,646
Gross Unrealized Gains	255	18,173
Gross Unrealized Losses	(11,643)	(1,373)
Fair Value	$ 381,391	$ 407,446
Percentage of Total Fixed Maturities	3.00%	2.00%
Fixed maturities available for sale [Member] | States, municipalities, and political subdivisions [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 1,262,710	$ 1,091,960
Gross Unrealized Gains	84,503	127,890
Gross Unrealized Losses	(4,853)	(135)
Fair Value	$ 1,342,360	$ 1,219,715
Percentage of Total Fixed Maturities	8.00%	7.00%
Fixed maturities available for sale [Member] | Foreign governments [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 18,918	$ 20,236
Gross Unrealized Gains	1,721	1,782
Gross Unrealized Losses	0	0
Fair Value	$ 20,639	$ 22,018
Percentage of Total Fixed Maturities	0.00%	0.00%
Fixed maturities available for sale [Member] | Corporates [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 13,205,779	$ 12,923,415
Gross Unrealized Gains	920,886	1,819,119
Gross Unrealized Losses	(286,600)	(70,698)
Fair Value	$ 13,840,065	$ 14,671,836
Percentage of Total Fixed Maturities	85.00%	87.00%
Fixed maturities available for sale [Member] | Corporates [Member] | Financial [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 3,363,794	$ 3,282,526
Gross Unrealized Gains	239,614	475,961
Gross Unrealized Losses	(62,445)	(23,392)
Fair Value	$ 3,540,963	$ 3,735,095
Percentage of Total Fixed Maturities	21.00%	22.00%
Fixed maturities available for sale [Member] | Corporates [Member] | Utilities [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 1,964,029	$ 1,955,737
Gross Unrealized Gains	215,959	369,406
Gross Unrealized Losses	(21,005)	(1,298)
Fair Value	$ 2,158,983	$ 2,323,845
Percentage of Total Fixed Maturities	13.00%	14.00%
Fixed maturities available for sale [Member] | Corporates [Member] | Energy [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 1,635,710	$ 1,619,349
Gross Unrealized Gains	136,144	226,140
Gross Unrealized Losses	(37,978)	(25,392)
Fair Value	$ 1,733,876	$ 1,820,097
Percentage of Total Fixed Maturities	11.00%	11.00%
Fixed maturities available for sale [Member] | Corporates [Member] | Other corporate sectors [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 6,242,246	$ 6,065,803
Gross Unrealized Gains	329,169	747,612
Gross Unrealized Losses	(165,172)	(20,616)
Fair Value	$ 6,406,243	$ 6,792,799
Percentage of Total Fixed Maturities	40.00%	40.00%
Fixed maturities available for sale [Member] | Collateralized debt obligations [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 57,794	$ 59,150
Gross Unrealized Gains	26,119	20,084
Gross Unrealized Losses	(4,997)	(7,653)
Fair Value	$ 78,916	$ 71,581
Percentage of Total Fixed Maturities	0.00%	0.00%
Fixed maturities available for sale [Member] | Other asset-backed securities [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 150,218	$ 144,520
Gross Unrealized Gains	1,845	4,835
Gross Unrealized Losses	(872)	0
Fair Value	$ 151,191	$ 149,355
Percentage of Total Fixed Maturities	1.00%	1.00%
Fixed maturities available for sale [Member] | Redeemable preferred stocks [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 374,166	$ 365,174
Gross Unrealized Gains	47,354	65,024
Gross Unrealized Losses	(4,611)	(2,824)
Fair Value	$ 416,909	$ 427,374
Percentage of Total Fixed Maturities	3.00%	3.00%
Fixed maturities available for sale [Member] | Redeemable preferred stocks [Member] | Financial [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 345,651	$ 336,621
Gross Unrealized Gains	46,022	62,892
Gross Unrealized Losses	(4,197)	(2,727)
Fair Value	$ 387,476	$ 396,786
Percentage of Total Fixed Maturities	3.00%	3.00%
Fixed maturities available for sale [Member] | Redeemable preferred stocks [Member] | Utilities [Member]
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 28,515	$ 28,553
Gross Unrealized Gains	1,332	2,132
Gross Unrealized Losses	(414)	(97)
Fair Value	$ 29,433	$ 30,588
Percentage of Total Fixed Maturities	0.00%	0.00%

Investments - Schedule of Fixed

Investments - Schedule of Fixed Maturities by Contractual Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Amortized Cost
Due in one year or less	$ 189,867
Due after one year through five years	611,511
Due after five years through ten years	1,686,348
Due after ten years through twenty years	5,023,824
Due after twenty years	7,742,061
Mortgage-backed and asset-backed securities	208,753
Cost or Amortized Cost	15,462,364	$ 14,995,101
Fair Value
Due in one year or less	193,934
Due after one year through five years	632,417
Due after five years through ten years	1,820,952
Due after ten years through twenty years	5,505,111
Due after twenty years	7,848,163
Mortgage-backed and asset-backed securities	230,894
Fair Value	$ 16,231,471	$ 16,969,325

Investments - Sales of Fixed Ma

Investments - Sales of Fixed Maturities Available for Sale (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Debt Securities, Available-for-sale [Line Items]
Proceeds from sales			$ 12,162	$ 52,951
Fixed Maturities [Member]
Debt Securities, Available-for-sale [Line Items]
Proceeds from sales	$ 12,162	$ 52,951	12,162	52,951
Gross realized gains	66	4,851	66	4,851
Gross realized losses	$ 0	$ 0	$ 0	$ 0

Investments - Assets Measured a

Investments - Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 16,231,471	$ 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	$ 16,231,471	$ 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	381,391	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	1,342,360	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	20,639	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	13,840,065	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	3,540,963	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	2,158,983	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	1,733,876	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	6,406,243	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	78,916	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	151,191	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	416,909	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	387,476	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	29,433	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	15,583,737	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	381,391	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	1,342,360	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	20,639	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	13,284,031	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	3,497,807	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	2,006,462	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	1,694,481	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	6,085,281	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	138,407	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	416,909	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	387,476	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	29,433	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	647,734	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	556,034	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	43,156	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	152,521	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	39,395	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	320,962	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	78,916	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	12,784	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	9 Months Ended
	Sep. 30, 2018	Sep. 30, 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	698	0
Included in other comprehensive income	(14,113)	18,996
Acquisitions	27,453	35,666
Sales	0	0
Amortization	3,585	3,719
Other	(42,862)	(12,850)
Transfers in and/or out of Level 3	4,533	0
Ending balance	$ 647,734	$ 668,634
Percent of total fixed maturities	4.00%	4.00%
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	(950)	595
Acquisitions	0	14,000
Sales	0	0
Amortization	0	0
Other	(315)	(212)
Transfers in and/or out of Level 3	0	0
Ending balance	$ 12,784	$ 14,383
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	8,691	7,787
Acquisitions	0	0
Sales	0	0
Amortization	3,572	3,705
Other	(4,928)	(5,227)
Transfers in and/or out of Level 3	0	0
Ending balance	$ 78,916	$ 69,768
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	698	0
Included in other comprehensive income	(21,854)	10,614
Acquisitions	27,453	21,666
Sales	0	0
Amortization	13	14
Other	(37,619)	(7,411)
Transfers in and/or out of Level 3	4,533	0
Ending balance	$ 556,034	$ 584,483
Percent of total fixed maturities	3.40%	3.50%

Investments - Additional Inform

Investments - Additional Information (Details)	9 Months Ended
	Sep. 30, 2018USD ($)Issue	Sep. 30, 2017USD ($)	Dec. 31, 2017Issue
Gain (Loss) on Securities [Line Items]
Total issues of fixed maturity portfolio | Issue	1,538		1,502
Fixed Maturities [Member]
Gain (Loss) on Securities [Line Items]
Other than-temporary impairment, available for sale securities	$ 0	$ 245,000
Other-than-temporary impairment, available for sale securities, net of tax		$ 159,000

Investments - Transfers in and

Investments - Transfers in and Out of Each of the Valuation Levels of Fair Values (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Level 1 [Member]
Transfers In And Out Of Each Of Valuation Levels Of Fair Values Of Investments [Line Items]
In	$ 0	$ 42,328
Out	0	(597)
Net	0	41,731
Level 2 [Member]
Transfers In And Out Of Each Of Valuation Levels Of Fair Values Of Investments [Line Items]
In	0	597
Out	(4,533)	(42,328)
Net	(4,533)	(41,731)
Level 3 [Member]
Transfers In And Out Of Each Of Valuation Levels Of Fair Values Of Investments [Line Items]
In	4,533	0
Out	0	0
Net	$ 4,533	$ 0

Investments - Fair Value Option

Investments - Fair Value Option (Details) - Fair Value Option [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2018USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items] (Deprecated 2018-01-31)
Investments, fair value disclosure	$ 107,996
Net Gains and Losses Recognized During the Period	2,405
Less Net Gains and Losses Recognized due to Sales	0
Total Changes in Fair Values Included in Current-Period Earnings	2,405
Level 1 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items] (Deprecated 2018-01-31)
Investments, fair value disclosure	0
Level 2 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items] (Deprecated 2018-01-31)
Investments, fair value disclosure	107,996
Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items] (Deprecated 2018-01-31)
Investments, fair value disclosure	$ 0

Investments - Schedule of Infor

Investments - Schedule of Information about Investments in Unrealized Loss Position (Details) - Issue	Sep. 30, 2018	Dec. 31, 2017
Number of issues (Cusip numbers) held:
Less than Twelve Months	598	92
Twelve Months or Longer	122	102
Total	720	194

Investments - Schedule of Unrea

Investments - Schedule of Unrealized Investment Losses by Class of Investment (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Fair Value
Fair Value, Less than Twelve Months	$ 4,831,670	$ 498,363
Fair Value, Twelve Months or Longer	711,560	605,288
Fair Value, Total	5,543,230	1,103,651
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(210,438)	(9,332)
Unrealized Loss, Twelve Months or Longer	(103,138)	(73,351)
Unrealized Loss, Total	(313,576)	(82,683)
Investment grade [Member]
Fair Value
Fair Value, Less than Twelve Months	4,731,873	464,715
Fair Value, Twelve Months or Longer	473,170	354,546
Fair Value, Total	5,205,043	819,261
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(202,249)	(4,057)
Unrealized Loss, Twelve Months or Longer	(45,134)	(11,154)
Unrealized Loss, Total	(247,383)	(15,211)
Investment grade [Member] | U.S. Government direct, guaranteed, and government-sponsored enterprises [Member]
Fair Value
Fair Value, Less than Twelve Months	291,797	34,388
Fair Value, Twelve Months or Longer	66,160	47,514
Fair Value, Total	357,957	81,902
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(8,844)	(422)
Unrealized Loss, Twelve Months or Longer	(2,799)	(951)
Unrealized Loss, Total	(11,643)	(1,373)
Investment grade [Member] | States, municipalities, and political subdivisions [Member]
Fair Value
Fair Value, Less than Twelve Months	181,894	4,561
Fair Value, Twelve Months or Longer	1,632	1,771
Fair Value, Total	183,526	6,332
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(4,832)	(21)
Unrealized Loss, Twelve Months or Longer	(21)	(9)
Unrealized Loss, Total	(4,853)	(30)
Investment grade [Member] | Corporates [Member]
Fair Value
Fair Value, Less than Twelve Months	4,183,169	425,766
Fair Value, Twelve Months or Longer	399,784	299,308
Fair Value, Total	4,582,953	725,074
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(186,976)	(3,614)
Unrealized Loss, Twelve Months or Longer	(41,900)	(10,097)
Unrealized Loss, Total	(228,876)	(13,711)
Investment grade [Member] | Corporates [Member] | Financial [Member]
Fair Value
Fair Value, Less than Twelve Months	934,194	133,080
Fair Value, Twelve Months or Longer	69,993	35,302
Fair Value, Total	1,004,187	168,382
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(38,148)	(652)
Unrealized Loss, Twelve Months or Longer	(5,518)	(1,429)
Unrealized Loss, Total	(43,666)	(2,081)
Investment grade [Member] | Corporates [Member] | Utilities [Member]
Fair Value
Fair Value, Less than Twelve Months	420,921	48,562
Fair Value, Twelve Months or Longer	45,084	32,345
Fair Value, Total	466,005	80,907
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(17,417)	(569)
Unrealized Loss, Twelve Months or Longer	(3,540)	(729)
Unrealized Loss, Total	(20,957)	(1,298)
Investment grade [Member] | Corporates [Member] | Energy [Member]
Fair Value
Fair Value, Less than Twelve Months	216,903	23,463
Fair Value, Twelve Months or Longer	49,052	67,775
Fair Value, Total	265,955	91,238
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(8,981)	(81)
Unrealized Loss, Twelve Months or Longer	(7,689)	(3,682)
Unrealized Loss, Total	(16,670)	(3,763)
Investment grade [Member] | Corporates [Member] | Other corporate sectors [Member]
Fair Value
Fair Value, Less than Twelve Months	2,611,151	220,661
Fair Value, Twelve Months or Longer	235,655	163,886
Fair Value, Total	2,846,806	384,547
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(122,430)	(2,312)
Unrealized Loss, Twelve Months or Longer	(25,153)	(4,257)
Unrealized Loss, Total	(147,583)	(6,569)
Investment grade [Member] | Other asset-backed securities [Member]
Fair Value
Fair Value, Less than Twelve Months	64,963
Fair Value, Twelve Months or Longer	0
Fair Value, Total	64,963
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(872)
Unrealized Loss, Twelve Months or Longer	0
Unrealized Loss, Total	(872)
Investment grade [Member] | Redeemable preferred stocks [Member]
Fair Value
Fair Value, Less than Twelve Months	10,050	0
Fair Value, Twelve Months or Longer	5,594	5,953
Fair Value, Total	15,644	5,953
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(725)	0
Unrealized Loss, Twelve Months or Longer	(414)	(97)
Unrealized Loss, Total	(1,139)	(97)
Investment grade [Member] | Redeemable preferred stocks [Member] | Financial [Member]
Fair Value
Fair Value, Less than Twelve Months	10,050
Fair Value, Twelve Months or Longer	0
Fair Value, Total	10,050
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(725)
Unrealized Loss, Twelve Months or Longer	0
Unrealized Loss, Total	(725)
Investment grade [Member] | Redeemable preferred stocks [Member] | Utilities [Member]
Fair Value
Fair Value, Less than Twelve Months	0	0
Fair Value, Twelve Months or Longer	5,594	5,953
Fair Value, Total	5,594	5,953
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	0	0
Unrealized Loss, Twelve Months or Longer	(414)	(97)
Unrealized Loss, Total	(414)	(97)
Below investment grade [Member]
Fair Value
Fair Value, Less than Twelve Months	99,797	33,648
Fair Value, Twelve Months or Longer	238,390	250,742
Fair Value, Total	338,187	284,390
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(8,189)	(5,275)
Unrealized Loss, Twelve Months or Longer	(58,004)	(62,197)
Unrealized Loss, Total	(66,193)	(67,472)
Below investment grade [Member] | States, municipalities, and political subdivisions [Member]
Fair Value
Fair Value, Less than Twelve Months		200
Fair Value, Twelve Months or Longer		0
Fair Value, Total		200
Unrealized Loss
Unrealized Loss, Less Than Twelve Months		(105)
Unrealized Loss, Twelve Months or Longer		0
Unrealized Loss, Total		(105)
Below investment grade [Member] | Corporates [Member]
Fair Value
Fair Value, Less than Twelve Months	99,797	33,448
Fair Value, Twelve Months or Longer	199,776	214,019
Fair Value, Total	299,573	247,467
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(8,189)	(5,170)
Unrealized Loss, Twelve Months or Longer	(49,535)	(51,817)
Unrealized Loss, Total	(57,724)	(56,987)
Below investment grade [Member] | Corporates [Member] | Financial [Member]
Fair Value
Fair Value, Less than Twelve Months	24,873	0
Fair Value, Twelve Months or Longer	62,073	84,432
Fair Value, Total	86,946	84,432
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(5,895)	0
Unrealized Loss, Twelve Months or Longer	(12,884)	(21,311)
Unrealized Loss, Total	(18,779)	(21,311)
Below investment grade [Member] | Corporates [Member] | Utilities [Member]
Fair Value
Fair Value, Less than Twelve Months	15,059
Fair Value, Twelve Months or Longer	0
Fair Value, Total	15,059
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(48)
Unrealized Loss, Twelve Months or Longer	0
Unrealized Loss, Total	(48)
Below investment grade [Member] | Corporates [Member] | Energy [Member]
Fair Value
Fair Value, Less than Twelve Months	12,647	8,114
Fair Value, Twelve Months or Longer	68,890	75,204
Fair Value, Total	81,537	83,318
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(533)	(104)
Unrealized Loss, Twelve Months or Longer	(20,775)	(21,525)
Unrealized Loss, Total	(21,308)	(21,629)
Below investment grade [Member] | Corporates [Member] | Other corporate sectors [Member]
Fair Value
Fair Value, Less than Twelve Months	47,218	25,334
Fair Value, Twelve Months or Longer	68,813	54,383
Fair Value, Total	116,031	79,717
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	(1,713)	(5,066)
Unrealized Loss, Twelve Months or Longer	(15,876)	(8,981)
Unrealized Loss, Total	(17,589)	(14,047)
Below investment grade [Member] | Collateralized debt obligations [Member]
Fair Value
Fair Value, Less than Twelve Months	0	0
Fair Value, Twelve Months or Longer	15,003	12,347
Fair Value, Total	15,003	12,347
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	0	0
Unrealized Loss, Twelve Months or Longer	(4,997)	(7,653)
Unrealized Loss, Total	(4,997)	(7,653)
Below investment grade [Member] | Redeemable preferred stocks [Member]
Fair Value
Fair Value, Less than Twelve Months	0	0
Fair Value, Twelve Months or Longer	23,611	24,376
Fair Value, Total	23,611	24,376
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	0	0
Unrealized Loss, Twelve Months or Longer	(3,472)	(2,727)
Unrealized Loss, Total	(3,472)	(2,727)
Below investment grade [Member] | Redeemable preferred stocks [Member] | Financial [Member]
Fair Value
Fair Value, Less than Twelve Months	0	0
Fair Value, Twelve Months or Longer	23,611	24,376
Fair Value, Total	23,611	24,376
Unrealized Loss
Unrealized Loss, Less Than Twelve Months	0	0
Unrealized Loss, Twelve Months or Longer	(3,472)	(2,727)
Unrealized Loss, Total	$ (3,472)	$ (2,727)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Expected income taxes	$ 46,270	$ 77,214	$ 138,608	$ 214,997
Increase (reduction) in income taxes resulting from:
Low income housing investments	(2,779)	(4,367)	(9,428)	(13,665)
Share-based awards	(2,601)	(5,075)	(6,855)	(14,513)
Other	740	(508)	907	(3,429)
Income tax expense (benefit) from continuing operations	$ 41,630	$ 67,264	$ 123,232	$ 183,390
Expected income taxes	21.00%	35.00%	21.00%	35.00%
Increase (reduction) in income taxes resulting from:
Low income housing investments	(1.30%)	(2.00%)	(1.40%)	(2.20%)
Share-based awards	(1.20%)	(2.30%)	(1.00%)	(2.40%)
Other	0.40%	(0.20%)	0.10%	(0.50%)
Income tax expense (benefit) from continuing operations	18.90%	30.50%	18.70%	29.90%
Tax benefit as a result of remeasuring deferred tax assets and liabilities					$ 877,000

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	Sep. 30, 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	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Activity in the Liability for Unpaid Health Claims
Balance at beginning of period	$ 146,865	$ 143,128
Incurred related to:
Current year	411,662	393,747
Prior years	(3,795)	(10,745)
Total incurred	407,867	383,002
Paid related to:
Current year	293,800	279,563
Prior years	113,109	103,010
Total paid	406,909	382,573
Balance at end of period	$ 147,823	$ 143,557

Liability for Unpaid Claims - R

Liability for Unpaid Claims - Reconciliation of Net Incurred and Paid Claims Development to Liability (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Policy claims and other benefits payable:
Life insurance	$ 190,158	$ 186,429
Total	337,981	333,294
Health Insurance [Member]
Policy claims and other benefits payable:
Total	$ 147,823	$ 146,865

Postretirement Benefits - Summa

Postretirement Benefits - Summary of Post-Retirement Benefit Costs by Component (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 5,277	$ 4,486	$ 15,831	$ 13,457
Interest cost	5,496	5,552	16,482	16,653
Expected return on assets	(6,363)	(5,900)	(19,089)	(17,697)
Amortization:
Prior service cost	119	118	357	356
Actuarial (gain) loss	3,636	2,952	10,908	8,855
Direct recognition of expense	0	0	0	0
Net periodic benefit cost	8,165	7,208	24,489	21,624
Other Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	0	0
Interest cost	228	249	684	749
Expected return on assets	0	0	0	0
Amortization:
Prior service cost	0	0	0	0
Actuarial (gain) loss	23	38	69	115
Direct recognition of expense	80	111	305	323
Net periodic benefit cost	$ 331	$ 398	$ 1,058	$ 1,187

Postretirement Benefits - Pensi

Postretirement Benefits - Pension Assets by Components at Fair Value (Detail) (Details) - Pension Benefits [Member] - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 421,758	$ 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	$ 194,932	$ 173,356
Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	226,826	204,268
Financial [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 47,522	$ 43,451
% to Total	11.00%	12.00%
Financial [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 47,522	$ 43,451
Utilities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 39,258	$ 46,144
% to Total	9.00%	12.00%
Utilities [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 39,258	$ 46,144
Energy [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 23,632	$ 25,023
% to Total	6.00%	7.00%
Energy [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 23,632	$ 25,023
Other corporates [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 84,388	$ 65,888
% to Total	20.00%	17.00%
Other corporates [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 84,388	$ 65,888
Corporate bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 194,800	$ 180,506
% to Total	46.00%	48.00%
Corporate bonds [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 194,800	$ 180,506
Exchange traded fund [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 181,449	$ 164,351
% to Total	43.00%	43.00%
Exchange traded fund [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 181,449	$ 164,351
Other bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 242	$ 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	$ 242	$ 256
Other long-term investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 5,366	$ 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	$ 5,366	$ 2,304
Guaranteed annuity contract [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 26,418	$ 21,202
% to Total	7.00%	6.00%
Guaranteed annuity contract [Member] | Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 26,418	$ 21,202
Short-term investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 9,304	$ 3,984
% to Total	2.00%	1.00%
Short-term investments [Member] | Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 9,304	$ 3,984
Other [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plans-fair value of plan assets	$ 4,179	$ 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	$ 4,179	$ 5,021

Postretirement Benefits - Pen_2

Postretirement Benefits - Pension Liability (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Liabilities for defined benefit pension plan	$ 580,055	$ 602,606
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	494,323	518,141
Nonqualified plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Liabilities for defined benefit pension plan	85,732	84,465
Nonqualified plan [Member] | SERP [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Liabilities for defined benefit pension plan	$ 85,732	$ 84,465

Postretirement Benefits - Activ

Postretirement Benefits - Activity for the SERP (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Premiums paid for insurance coverage	$ 2,997	$ 2,050
Liability	580,055	602,606
Nonqualified plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Liability	85,732	84,465
SERP [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total investments	100,752	95,715
SERP [Member] | Nonqualified plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Liability	85,732	84,465
SERP (Active) [Member] | Nonqualified plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Liability	83,320	81,457
SERP (Closed) [Member] | Nonqualified plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Liability	2,412	3,008
Company owned life insurance [Member] | SERP [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total investments	43,976	40,273
Exchange traded fund [Member] | SERP [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total investments	$ 56,776	$ 55,442

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Basic and Diluted Weighted - Average Shares Outstanding (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share [Abstract]
Basic weighted average shares outstanding (in shares)	112,587,623	115,921,134	113,366,465	116,772,652
Weighted average dilutive options outstanding (in shares)	2,386,831	2,521,815	2,418,281	2,540,955
Diluted weighted average shares outstanding (in shares)	114,974,454	118,442,949	115,784,746	119,313,607
Antidilutive shares (in shares)	1,375,186	0	1,097,439	1,174,469

Debt (Details)

Debt (Details) - USD ($)	Oct. 29, 2018	Sep. 27, 2018	Sep. 30, 2018	Sep. 30, 2017
Debt Instrument [Line Items]
Repayment of debt			$ 23,125,000	$ 1,250,000
Senior Notes Due 2028 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount		$ 550,000,000
Interest rate		4.55%
Proceeds from sale of Notes		$ 543,000,000
Subsequent Event [Member]
Debt Instrument [Line Items]
Payment of additional capital to insurance subsidiaries	$ 150,000,000
Subsequent Event [Member] | Senior Notes Due June 15, 2019 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate	9.25%
Repayment of debt	$ 293,000,000
Payment of make-whole premium plus accrued and unpaid interest	$ 10,700,000

Business Segments - Narrative (

Business Segments - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting [Abstract]
Administrative settlements	$ 3,590	$ 3,590	$ 2,094

Business Segments - Reconciliat

Business Segments - Reconciliation of Segment Operating Information to Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue:
Premium	$ 860,750	$ 819,217	$ 2,564,835	$ 2,456,462
Net investment income	221,627	213,872	658,279	634,930
Other income	393	331	1,104	1,140
Total revenue	1,082,770	1,033,420	3,224,218	3,092,532
Expenses:
Policy benefits	567,856	551,219	1,706,122	1,665,410
Required interest on reserves	0	0	0	0
Required interest on DAC	0	0	0	0
Amortization of acquisition costs	129,492	122,334	388,189	370,363
Commissions, premium taxes, and non-deferred acquisition costs	69,632	67,863	208,698	198,011
Insurance administrative expense	59,402	52,426	170,150	155,751
Parent expense	4,245	2,330	9,384	7,228
Stock-based compensation expense	10,412	8,263	29,969	24,809
Interest expense	22,433	20,970	66,466	62,825
Total benefits and expenses	863,472	825,405	2,578,978	2,484,397
Subtotal	219,298	208,015	645,240	608,135
Non-operating items	5,168	1,392	5,168	3,486
Measure of segment profitability (pretax)	224,466	209,407	650,408	611,621
Deduct applicable income taxes	(41,744)	(63,342)	(120,456)	(184,703)
Net operating income	182,722	146,065	529,952	426,918
Add back income taxes applicable to segment profitability	41,744	63,342	120,456	184,703
Add (deduct) realized investment gains (losses)	1,032	12,595	14,796	6,142
Add (deduct) guaranty fund assessments		(1,392)		(1,392)
Add (deduct) administrative settlements	(3,590)		(3,590)	(2,094)
Add (deduct) non-operating costs	(1,578)		(1,578)
Income before income taxes	220,330	220,610	660,036	614,277
Operating Segments [Member] | Life [Member]
Revenue:
Premium	605,547	576,223	1,806,384	1,725,896
Total revenue	605,547	576,223	1,806,384	1,725,896
Expenses:
Policy benefits	396,701	386,445	1,196,616	1,166,289
Required interest on reserves	(160,058)	(152,862)	(474,373)	(452,339)
Required interest on DAC	48,907	46,893	145,126	139,042
Amortization of acquisition costs	103,792	98,268	312,168	296,646
Commissions, premium taxes, and non-deferred acquisition costs	47,609	44,748	142,253	132,094
Total benefits and expenses	436,951	423,492	1,321,790	1,281,732
Subtotal	168,596	152,731	484,594	444,164
Measure of segment profitability (pretax)	168,596	152,731	484,594	444,164
Operating Segments [Member] | Health [Member]
Revenue:
Premium	255,201	242,991	758,439	730,557
Total revenue	255,201	242,991	758,439	730,557
Expenses:
Policy benefits	162,574	155,774	483,654	470,104
Required interest on reserves	(20,965)	(19,617)	(62,095)	(57,859)
Required interest on DAC	6,136	5,881	18,228	17,530
Amortization of acquisition costs	25,162	23,458	74,311	71,801
Commissions, premium taxes, and non-deferred acquisition costs	22,041	21,746	66,502	64,599
Total benefits and expenses	194,948	187,242	580,600	566,175
Subtotal	60,253	55,749	177,839	164,382
Measure of segment profitability (pretax)	60,253	55,749	177,839	164,382
Operating Segments [Member] | Annuity [Member]
Revenue:
Premium	2	3	12	9
Total revenue	2	3	12	9
Expenses:
Policy benefits	8,581	9,000	25,852	26,923
Required interest on reserves	(11,831)	(12,433)	(35,733)	(37,245)
Required interest on DAC	145	172	448	524
Amortization of acquisition costs	538	608	1,710	1,916
Commissions, premium taxes, and non-deferred acquisition costs	5	7	19	25
Total benefits and expenses	(2,562)	(2,646)	(7,704)	(7,857)
Subtotal	2,564	2,649	7,716	7,866
Measure of segment profitability (pretax)	2,564	2,649	7,716	7,866
Operating Segments [Member] | Investment [Member]
Revenue:
Net investment income	221,627	213,872	658,279	634,930
Total revenue	221,627	213,872	658,279	634,930
Expenses:
Required interest on reserves	192,854	184,912	572,201	547,443
Required interest on DAC	(55,188)	(52,946)	(163,802)	(157,096)
Interest expense	22,433	20,970	66,466	62,825
Total benefits and expenses	160,099	152,936	474,865	453,172
Subtotal	61,528	60,936	183,414	181,758
Measure of segment profitability (pretax)	61,528	60,936	183,414	181,758
Operating Segments [Member] | Other & Corporate [Member]
Revenue:
Other income	416	361	1,180	1,239
Total revenue	416	361	1,180	1,239
Expenses:
Insurance administrative expense	55,812	52,426	166,560	155,751
Parent expense	2,667	2,330	7,806	7,228
Stock-based compensation expense	10,412	8,263	29,969	24,809
Total benefits and expenses	68,891	63,019	204,335	187,788
Subtotal	(68,475)	(62,658)	(203,155)	(186,549)
Measure of segment profitability (pretax)	(68,475)	(62,658)	(203,155)	(186,549)
Adjustments [Member]
Revenue:
Other income	(23)	(30)	(76)	(99)
Total revenue	(23)	(30)	(76)	(99)
Expenses:
Policy benefits				2,094
Commissions, premium taxes, and non-deferred acquisition costs	(23)	1,362	(76)	1,293
Insurance administrative expense	3,590		3,590
Parent expense	1,578		1,578
Total benefits and expenses	5,145	1,362	5,092	3,387
Subtotal	(5,168)	(1,392)	(5,168)	(3,486)
Non-operating items	5,168	1,392	5,168	3,486
Measure of segment profitability (pretax)	$ 0	$ 0	$ 0	$ 0