National Western Life Group, Inc. - 10-K filing on 2017-03-10

Segment and Other Operating Information (Tables)

12 Months Ended

Dec. 31, 2016

A summary of segment information, prepared in accordance with GAAP guidance, is provided below.



	Domestic Life Insurance		International Life Insurance	Annuities	All Others	Totals
	(In thousands)
2016:
Selected Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	$	90,485	243,106	648,714	—	982,305
Total segment assets	971,990		1,232,648	9,193,980	298,481	11,697,099
Future policy benefits	830,460		919,380	8,109,255	—	9,859,095
Other policyholder liabilities	13,998		10,528	118,865	—	143,391

Condensed Income Statements:
Premiums and contract charges	$	34,728	125,775	22,220	—	182,723
Net investment income	39,691		42,331	362,700	22,952	467,674
Other revenues	119		321	254	18,207	18,901

Total revenues	74,538		168,427	385,174	41,159	669,298

Life and other policy benefits	17,908		18,759	28,862	—	65,529
Amortization of deferred policy acquisition costs	4,125		18,027	98,987	—	121,139
Universal life and annuity contract interest	28,606		28,636	191,148	—	248,390
Other operating expenses	18,739		25,933	31,852	17,924	94,448
Federal income taxes (benefit)	1,749		26,130	11,638	7,878	47,395
Total expenses	71,127		117,485	362,487	25,802	576,901

Segment earnings (loss)	$	3,411	50,942	22,687	15,357	92,397



	Domestic Life Insurance		International Life Insurance	Annuities	All Others	Totals
	(In thousands)

2015:
Selected Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	$	78,650	251,790	682,177	—	1,012,617
Total segment assets	868,466		1,260,538	9,054,951	268,675	11,452,630
Future policy benefits	748,853		944,672	8,005,833	—	9,699,358
Other policyholder liabilities	14,084		16,710	124,467	—	155,261

Condensed Income Statements:
Premiums and contract charges	$	30,743	122,393	22,171	—	175,307
Net investment income	27,172		29,400	300,198	22,344	379,114
Other revenues	56		14	50	28,046	28,166

Total revenues	57,971		151,807	322,419	50,390	582,587

Life and other policy benefits	17,905		24,237	25,310	—	67,452
Amortization of deferred policy acquisition costs	8,647		19,975	91,711	—	120,333
Universal life and annuity contract interest	17,799		23,423	135,679	—	176,901
Other operating expenses	12,774		20,706	25,723	19,239	78,442
Federal income taxes (benefit)	278		20,819	14,432	10,220	45,749
Total expenses	57,403		109,160	292,855	29,459	488,877

Segment earnings (loss)	$	568	42,647	29,564	20,931	93,710



	Domestic Life Insurance		International Life Insurance	Annuities	All Others	Totals
	(In thousands)

2014:
Selected Balance Sheet Items:
Deferred policy acquisition costs and sales inducements	$	64,279	245,353	653,053	—	962,685
Total segment assets	746,051		1,250,629	8,933,274	257,568	11,187,522
Future policy benefits	648,864		953,076	7,920,582	—	9,522,522
Other policyholder liabilities	12,159		11,898	115,165	—	139,222

Condensed Income Statements:
Premiums and contract charges	$	28,801	118,838	22,476	—	170,115
Net investment income	34,695		51,539	398,163	21,033	505,430
Other revenues	55		372	68	21,135	21,630

Total revenues	63,551		170,749	420,707	42,168	697,175

Life and other policy benefits	11,856		24,034	18,405	—	54,295
Amortization of deferred policy acquisition costs	6,913		21,807	86,434	—	115,154
Universal life and annuity contract interest	27,050		46,255	224,954	—	298,259
Other operating expenses	13,547		23,449	27,015	19,540	83,551
Federal income taxes (benefit)	1,373		18,112	20,964	7,424	47,873
Total expenses	60,739		133,657	377,772	26,964	599,132

Segment earnings (loss)	$	2,812	37,092	42,935	15,204	98,043

Reconciliations of segment information to the Company's Consolidated Financial Statements are provided below.



	Years Ended December 31,
	2016		2015	2014
	(In thousands)

Premiums and Other Revenue:
Premiums and contract charges	$	182,723	175,307	170,115
Net investment income	467,674		379,114	505,430
Other revenues	18,901		28,166	21,630
Realized gains (losses) on investments	13,070		7,209	11,605

Total consolidated premiums and other revenue	$	682,368	589,796	708,780



	Years Ended December 31,
	2016		2015	2014
	(In thousands)

Net Earnings:
Total segment earnings	$	92,397	93,710	98,043
Realized gains (losses) on investments, net of taxes	8,495		4,686	7,545

Total consolidated net earnings	$	100,892	98,396	105,588



	Years Ended December 31,
	2016		2015	2014
	(In thousands)

Federal Income Taxes:
Total segment Federal income taxes	$	47,395	45,749	47,873
Taxes on realized gains (losses) on investments	4,575		2,523	4,060

Total taxes on consolidated net earnings	$	51,970	48,272	51,933

Premiums and contract revenues detailed by country are provided below.



	Years Ended December 31,
	2016			2015		2014
	(In thousands)

United States	$	75,405		66,750		65,078
Brazil	38,928			40,640		38,563
Venezuela	15,534			15,466		14,931
Taiwan	14,474			14,882		14,166
Peru	11,378			10,915		10,327
Argentina	9,548			9,007		9,324
Other foreign countries	37,131			36,776		36,775

Revenues, excluding reinsurance premiums	202,398			194,436		189,164
Reinsurance premiums	(19,675		)	(19,129	)	(19,049	)

Total premiums and contract revenues	$	182,723		175,307		170,115