Comprehensive Income
 3 Months Ended
Mar. 31, 2015
Disclosure Information About Comprehensive Income [Abstract]  
Comprehensive Income (Loss)
Comprehensive Income
Comprehensive income is comprised of net income and other comprehensive income. Other comprehensive income includes the unrealized investment gains or losses on securities available for sale (net of reclassifications for realized investment gains or losses) net of adjustments to deferred acquisition costs (DAC) and value of business acquired (VOBA), future policy benefits, and policyholder account balances (including deferred revenue liability). In addition, other comprehensive income includes the change in the liability for benefit plan obligations. Other comprehensive income reflects these items net of tax.
The table below provides information about comprehensive income for the first quarters ended March 31, 2015 and 2014.
 
Quarter Ended March 31, 2015
 
Pre-Tax
Amount
 
Tax Expense
or (Benefit)
 
Net-of-Tax
Amount
 
 
 
 
 
 
Net unrealized gains (losses) arising during the period:
 
 
 
 
 
Fixed maturity securities
$
25,988

 
$
9,095

 
$
16,893

Equity securities
393

 
138

 
255

Less reclassification adjustments:
 
 
 
 
 
Net realized investment gains, excluding impairment
losses
120

 
42

 
78

Other-than-temporary impairment losses recognized in
earnings
—

 
—

 
—

Other-than-temporary impairment losses recognized in
other comprehensive income
(7
)
 
(2
)
 
(5
)
Net unrealized gains excluding impairment losses
26,268

 
9,193

 
17,075

Effect on DAC and VOBA
(1,623
)
 
(568
)
 
(1,055
)
Future policy benefits
(4,599
)
 
(1,610
)
 
(2,989
)
Policyholder account balances
(150
)
 
(52
)
 
(98
)
Other comprehensive income
$
19,896

 
$
6,963

 
12,933

Net income
 
 
 
 
6,778

Comprehensive income
 
 
 
 
$
19,711

 
Quarter Ended March 31, 2014
 
Pre-Tax
Amount
 
Tax Expense
or (Benefit)
 
Net-of-Tax
Amount
 
 
Net unrealized gains (losses) arising during the period:
 
 
 
 
 
Fixed maturity securities
$
34,242

 
$
11,984

 
$
22,258

Equity securities
934

 
327

 
607

Less reclassification adjustments:
 
 
 
 
 
Net realized investment gains, excluding impairment
losses
843

 
295

 
548

Other-than-temporary impairment losses recognized in
earnings
(213
)
 
(75
)
 
(138
)
Other-than-temporary impairment losses recognized in
other comprehensive income
51

 
18

 
33

Net unrealized gains excluding impairment losses
34,495

 
12,073

 
22,422

Effect on DAC and VOBA
(4,703
)
 
(1,646
)
 
(3,057
)
Future policy benefits
(5,589
)
 
(1,956
)
 
(3,633
)
Policyholder account balances
(201
)
 
(70
)
 
(131
)
Other comprehensive income
$
24,002

 
$
8,401

 
15,601

Net income
 
 
 
 
5,672

Comprehensive income
 
 
 
 
$
21,273


The following table provides accumulated balances related to each component of accumulated other comprehensive income at March 31, 2015, net of tax.
 
Unrealized
Gain (Loss) on
Non-Impaired
Securities
 
Unrealized
Gain (Loss) on
Impaired
Securities
 
Benefit
Plan
Obligations
 
DAC/
VOBA
Impact
 
Future Policy Benefits
 
Policyholder
Account
Balances
 
Total
Beginning of year
$
110,362

 
$
3,141

 
$
(53,964
)
 
$
(18,521
)
 
$
(17,406
)
 
$
(572
)
 
$
23,040

Other comprehensive
income before
reclassification
17,489

 
(487
)
 
—

 
(1,053
)
 
(2,989
)
 
(98
)
 
12,862

Amounts reclassified
from accumulated other
comprehensive income
78

 
(5
)
 
—

 
(2
)
 
—

 
—

 
71

Net current-period other
comprehensive income
17,567

 
(492
)
 
—

 
(1,055
)
 
(2,989
)
 
(98
)
 
12,933

End of period
$
127,929

 
$
2,649

 
$
(53,964
)
 
$
(19,576
)
 
$
(20,395
)
 
$
(670
)
 
$
35,973


The following table presents the pre-tax and the related income tax expense (benefit) components of the amounts reclassified from the Company's accumulated other comprehensive income to the Company's Consolidated Statements of Comprehensive Income for the first quarters ended March 31, 2015 and 2014.
 
Quarter Ended
 
March 31
 
2015
 
2014
Reclassification adjustments related to unrealized gains (losses)
on investment securities:
 
 
 
Having impairments recognized in the Consolidated Statements
    of Comprehensive Income 1
$
120

 
$
843

Income tax expense 2
(42
)
 
(295
)
Net of taxes
78

 
548

 
 
 
 
Having no impairments recognized in the Consolidated
    Statements of Comprehensive Income 1
(7
)
 
(162
)
Income tax benefit 2
2

 
57

Net of taxes
(5
)
 
(105
)
 
 
 
 
Reclassification adjustment related to DAC and VOBA 1
(3
)
 
(41
)
Income tax benefit 2
1

 
14

Net of taxes
(2
)
 
(27
)
 
 
 
 
Total pre-tax reclassifications
110

 
640

Total income tax expense
(39
)
 
(224
)
Total reclassification, net taxes
$
71

 
$
416

 1 (Increases) decreases net realized investment gains (losses) on the Consolidated Statements of Comprehensive Income.
 2 (Increases) decreases income tax expense on the Consolidated Statements of Comprehensive Income.