10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001104659-15-036101 |
| Period End Date | 20150331 |
| Filing Date | 20150508 |
| Fiscal Year | 2015 |
| Fiscal Period | Q1 |
| XBRL Instance | pl-20150331.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
61 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Fixed maturities, amortized cost |
FixedMaturitiesAmortizedCost
|
$38.17B | USD | Point-in-time |
| Fixed maturities at amortized cost, fair value |
HeldToMaturitySecuritiesFairValue
|
$528.83M | USD | Point-in-time |
| Fixed maturities, at fair value (amortized cost: 2015 Successor - $38,170,605; 2014 Predecessor - $33,738,242) |
MarketableSecuritiesFixedMaturities
|
$37.64B | USD | Point-in-time |
| Fixed maturities, at amortized cost (fair value: 2015 Successor - $528,828; 2014 Predecessor - $485,422) |
HeldToMaturitySecurities
|
$551.32M | USD | Point-in-time |
| Equity securities, cost |
EquitySecuritiesCost
|
$739.21M | USD | Point-in-time |
| Equity securities, at fair value (cost: 2015 Successor - $739,207; 2014 Predecessor - $778,744) |
MarketableSecuritiesEquitySecurities
|
$741.53M | USD | Point-in-time |
| Mortgage loans, related to securitizations |
MortgageLoanSecuritizations
|
$441.62M | USD | Point-in-time |
| Investment real estate, accumulated depreciation |
RealEstateInvestmentPropertyAccumulatedDepreciation
|
$21.00K | USD | Point-in-time |
| Mortgage loans (related to securitizations: 2015 Successor - $441,624; 2014 Predecessor - $455,250) |
MortgageLoansOnRealEstateCommercialAndConsumerNet
|
$5.59B | USD | Point-in-time |
| Investment real estate, net of accumulated depreciation (2015 Successor - $21; 2014 Predecessor - $246) |
RealEstateInvestmentPropertyNet
|
$7.43M | USD | Point-in-time |
| Other intangibles, accumulated amortization |
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
$6.89M | USD | Point-in-time |
| Property and equipment, accumulated depreciation |
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
$1.45M | USD | Point-in-time |
| Policy loans |
LoansInsurancePolicy
|
$1.74B | USD | Point-in-time |
| Other long-term investments |
OtherLongTermInvestments
|
$618.55M | USD | Point-in-time |
| Short-term investments |
OtherShortTermInvestments
|
$256.30M | USD | Point-in-time |
| Total investments |
Investments
|
$47.14B | USD | Point-in-time |
| Cash |
Cash
|
$462.71M | USD | Point-in-time |
| Cash |
Cash
|
$454.77M | USD | Point-in-time |
| Common Stock, par value (in dollars per share) |
CommonStockParOrStatedValuePerShare
|
$0.01 | USD | Point-in-time |
| Accrued investment income |
AccruedInvestmentIncomeReceivable
|
$484.09M | USD | Point-in-time |
| Common Stock, shares authorized (in shares) |
CommonStockSharesAuthorized
|
5,000.00 | shares | Point-in-time |
| Accounts and premiums receivable |
PremiumsAndOtherReceivablesNet
|
$95.46M | USD | Point-in-time |
| Common Stock, shares issued (in shares) |
CommonStockSharesIssued
|
1,000.00 | shares | Point-in-time |
| Reinsurance receivables |
ReinsuranceRecoverables
|
$5.71B | USD | Point-in-time |
| Deferred policy acquisition costs and value of business acquired |
DeferredPolicyAcquisitionCostsAndValueOfBusinessAcquired
|
$1.31B | USD | Point-in-time |
| Net unrealized gains (losses) on investments, income tax |
AccumulatedOtherComprehensiveIncomeLossOtherUnrealizedNetGainsLossesOnInvestmentsTaxEffect
|
$-157.49M | USD | Point-in-time |
| Goodwill |
Goodwill
|
$735.71M | USD | Point-in-time |
| Net unrealized (losses) gains relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, income tax |
AccumulatedOtherComprehensiveIncomeLossUnrealizedOtherThanTemporaryImpairmentLossesTaxEffect
|
- | USD | Point-in-time |
| Accumulated loss - derivatives, income tax |
AccumulatedOtherComprehensiveIncomeLossAccumulatedGainLossOnHedgingTax
|
$19.00K | USD | Point-in-time |
| Other intangibles, net of accumulated amortization (2015 Successor - $6,886) |
OtherIntangibleAssetsNet
|
$676.11M | USD | Point-in-time |
| Postretirement benefits liability adjustment, income tax |
AccumulatedOtherComprehensiveIncomeLossMinimumPensionLiabilityAdjustmentTax
|
- | USD | Point-in-time |
| Property and equipment, net of accumulated depreciation (2015 Successor - $1,449; 2014 Predecessor - $118,487) |
PropertyPlantAndEquipmentNet
|
$103.62M | USD | Point-in-time |
| Other assets |
OtherAssets
|
$148.50M | USD | Point-in-time |
| Variable annuity |
AssetsRelatedToSeparateAccountsVariableAnnuity
|
$13.34B | USD | Point-in-time |
| Variable universal life |
AssetsRelatedToSeparateAccountsVariableUniversalLife
|
$857.17M | USD | Point-in-time |
| Total assets |
Assets
|
$71.07B | USD | Point-in-time |
| Future policy benefits and claims |
LiabilityForFuturePolicyBenefitsAndUnpaidClaimsAndClaimsAdjustmentExpense
|
$30.16B | USD | Point-in-time |
| Unearned premiums |
UnearnedPremiums
|
$691.12M | USD | Point-in-time |
| Total policy liabilities and accruals |
PolicyLiabilitiesAndAccruals
|
$30.85B | USD | Point-in-time |
| Stable value product account balances |
StableValueProductAccountBalances
|
$1.92B | USD | Point-in-time |
| Annuity account balances |
AnnuityAccountBalances
|
$10.85B | USD | Point-in-time |
| Other policyholders' funds |
OtherPolicyholderFunds
|
$1.34B | USD | Point-in-time |
| Other liabilities |
OtherLiabilities
|
$1.84B | USD | Point-in-time |
| Income tax payable |
TaxesPayableCurrentAndNoncurrent
|
$65.09M | USD | Point-in-time |
| Deferred income taxes |
DeferredIncomeTaxLiabilities
|
$1.41B | USD | Point-in-time |
| Non-recourse funding obligations |
NonrecourseFundingObligations
|
$641.60M | USD | Point-in-time |
| Repurchase program borrowings |
ReverseRepurchaseLiability
|
$510.12M | USD | Point-in-time |
| Debt |
DebtLongtermAndShorttermCombinedAmount
|
$1.67B | USD | Point-in-time |
| Subordinated debt securities |
SubordinatedDebt
|
$454.23M | USD | Point-in-time |
| Variable annuity |
LiabilitiesRelatedToSeparateAccountsVariableAnnuity
|
$13.34B | USD | Point-in-time |
| Variable universal life |
LiabilitiesRelatedToSeparateAccountsVariableUniversalLife
|
$857.17M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$65.74B | USD | Point-in-time |
| Commitments and contingencies - Note 10 |
CommitmentsAndContingencies
|
- | USD | Point-in-time |
| Common Stock, 2015 (Successor) and 2014 (Predecessor) - $.01 par value and $.50 par value; shares authorized: 5,000 and 160,000,000; shares issued: 1,000 and 88,776,960, respectively |
CommonStockValue
|
- | USD | Point-in-time |
| Additional paid-in-capital |
AdditionalPaidInCapital
|
$5.55B | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$62.86M | USD | Point-in-time |
| Net unrealized (losses) gains on investments, net of income tax: (2015 Successor - $(157,486); 2014 Predecessor - $796,960) |
AccumulatedOtherComprehensiveIncomeLossOtherUnrealizedNetGainsLossesOnInvestments
|
$-292.48M | USD | Point-in-time |
| Accumulated gain (loss) - derivatives, net of income tax: (2015 Successor - $19; 2014 Predecessor - $(45)) |
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
|
$36.00K | USD | Point-in-time |
| Total shareowners' equity |
StockholdersEquity
|
$5.55B | USD | Point-in-time |
| Total shareowners' equity |
StockholdersEquity
|
$5.32B | USD | Point-in-time |
| Total liabilities and shareowners' equity |
LiabilitiesAndStockholdersEquity
|
$71.07B | USD | Point-in-time |
Income Statement
17 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Benefits and settlement expenses, reinsurance ceded |
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountCeded
|
$117.21M | USD | 1 Quarter |
| Premiums and policy fees |
PremiumsAndPolicyFees
|
$509.01M | USD | 1 Quarter |
| Other operating expenses, reinsurance ceded |
OtherOperatingExpensesReinsuranceCeded
|
$35.04M | USD | 1 Quarter |
| Reinsurance ceded |
CededPremiumsWritten
|
$141.40M | USD | 1 Quarter |
| Net of reinsurance ceded |
NetOfReinsuranceCeded
|
$367.61M | USD | 1 Quarter |
| Net investment income |
NetInvestmentIncome
|
$288.87M | USD | 1 Quarter |
| Derivative financial instruments |
GainLossOnDerivativeInstrumentsNetPretax
|
$33.64M | USD | 1 Quarter |
| All other investments |
RealizedInvestmentGainsLossesAllOtherInvestments
|
$-35.06M | USD | 1 Quarter |
| Other income |
OtherIncome
|
$67.26M | USD | 1 Quarter |
| Total revenues |
Revenues
|
$722.33M | USD | 1 Quarter |
| Benefits and settlement expenses, net of reinsurance ceded: (2015 Successor - $117,208; 2015 Predecessor - $87,674; 2014 Predecessor - $304,832) |
PolicyholderBenefitsAndClaimsIncurredNet
|
$486.30M | USD | 1 Quarter |
| Amortization of deferred policy acquisition costs and value of business acquired |
AmortizationOfDeferredPolicyAcquisitionCostsAndValueOfBusinessAcquired
|
$27.90M | USD | 1 Quarter |
| Other operating expenses, net of reinsurance ceded: (2015 Successor - $35,036; 2015 Predecessor - $17,056; 2014 Predecessor - $43,766) |
OtherOperatingExpensesNetOfReinsuranceCeded
|
$115.30M | USD | 1 Quarter |
| Total benefits and expenses |
BenefitsLossesAndExpenses
|
$629.50M | USD | 1 Quarter |
| Income before income tax |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
$92.83M | USD | 1 Quarter |
| Income tax expense (benefit) |
IncomeTaxExpenseBenefit
|
$29.97M | USD | 1 Quarter |
| Net Income |
NetIncomeLoss
|
$62.86M | USD | 1 Quarter |
Cash Flow Statement
46 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
NetIncomeLoss
|
$62.86M | USD | 1 Quarter |
| Realized investment (gains) losses |
RealizedInvestmentGainsLosses
|
$-1.42M | USD | 1 Quarter |
| Amortization of DAC and VOBA |
AmortizationOfDeferredPolicyAcquisitionCostsAndValueOfBusinessAcquired
|
$27.90M | USD | 1 Quarter |
| Capitalization of deferred policy acquisition costs |
DeferredPolicyAcquisitionCostsAdditions
|
$-49.19M | USD | 1 Quarter |
| Depreciation expense |
Depreciation
|
$8.34M | USD | 1 Quarter |
| Deferred income tax |
IncreaseDecreaseInDeferredIncomeTaxes
|
$-28.51M | USD | 1 Quarter |
| Accrued income tax |
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
$80.55M | USD | 1 Quarter |
| Interest credited to universal life and investment products |
InterestCreditedToPolicyOwnerAccounts
|
$-130.21M | USD | 1 Quarter |
| Policy fees assessed on universal life and investment products |
InsuranceCommissionsAndFees
|
$188.40M | USD | 1 Quarter |
| Change in reinsurance receivables |
IncreaseDecreaseInReinsuranceRecoverable
|
$-11.57M | USD | 1 Quarter |
| Change in accrued investment income and other receivables |
ChangeInAccruedInvestmentIncomeAndOtherReceivables
|
$6.24M | USD | 1 Quarter |
| Change in policy liabilities and other policyholders' funds of traditional life and health products |
IncreaseDecreaseInInsuranceLiabilities
|
$-112.29M | USD | 1 Quarter |
| Maturities and principal reductions of investments |
TradingSecuritiesMaturitiesAndPrincipalReductionsOfInvestments
|
$27.56M | USD | 1 Quarter |
| Sale of investments |
TradingSecuritiesSaleOfInvestments
|
$31.58M | USD | 1 Quarter |
| Cost of investments acquired |
TradingSecuritiesCostOfInvestmentsAcquired
|
$75.34M | USD | 1 Quarter |
| Other net change in trading securities |
TradingSecuritiesOtherNetChangeInTradingSecurities
|
$51.91M | USD | 1 Quarter |
| Amortization of premiums and accretion of discounts on investments |
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
$-67.28M | USD | 1 Quarter |
| Change in other liabilities |
IncreaseDecreaseInOtherOperatingLiabilities
|
$-222.77M | USD | 1 Quarter |
| Other, net |
IncreaseDecreaseInOtherOperatingCapitalNet
|
$-77.91M | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
$-46.65M | USD | 1 Quarter |
| Maturities and principal reductions of investments, available-for-sale |
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
|
$45.71M | USD | 1 Quarter |
| Sale of investments, available-for-sale |
ProceedsFromSaleOfAvailableForSaleSecurities
|
$712.28M | USD | 1 Quarter |
| Cost of investments acquired, available-for-sale |
PaymentsToAcquireAvailableForSaleSecurities
|
$1.19B | USD | 1 Quarter |
| Change in investments, held-to-maturity |
PaymentsToAcquireHeldToMaturitySecurities
|
$20.00M | USD | 1 Quarter |
| New lendings |
PaymentsToAcquireMortgageNotesReceivable
|
$248.51M | USD | 1 Quarter |
| Repayments |
ProceedsFromSaleAndCollectionOfMortgageNotesReceivable
|
$223.64M | USD | 1 Quarter |
| Change in investment real estate, net |
PaymentsForProceedsFromRealEstateHeldforinvestment
|
$-21.00K | USD | 1 Quarter |
| Change in policy loans, net |
PaymentsForProceedsFromPolicyLoans
|
$-16.50M | USD | 1 Quarter |
| Change in other long-term investments, net |
ChangeInOtherLongTermInvestmentsNet
|
$34.08M | USD | 1 Quarter |
| Change in short-term investments, net |
PaymentsForProceedsFromShortTermInvestments
|
$-11.05M | USD | 1 Quarter |
| Net unsettled security transactions |
UnsettledSecurityTransactionsNet
|
$-5.10M | USD | 1 Quarter |
| Purchase of property and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$709.00K | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
$-477.24M | USD | 1 Quarter |
| Borrowings under line of credit arrangements and debt |
BorrowingsUnderLineOfCreditArrangementsAndLongTermDebt
|
$155.00M | USD | 1 Quarter |
| Principal payments on line of credit arrangement and debt |
PrincipalPaymentsOnLineOfCreditArrangementsAndLongTermDebt
|
$110.70M | USD | 1 Quarter |
| Issuance (repayment) of non-recourse funding obligations |
IssuanceRepaymentOfNonRecourseFundingObligations
|
$20.00M | USD | 1 Quarter |
| Repurchase program borrowings |
ProceedsFromReverseRepurchaseLiability
|
$460.12M | USD | 1 Quarter |
| Investment product deposits and change in universal life deposits |
ProceedsFromAnnuitiesAndInvestmentCertificates
|
$462.67M | USD | 1 Quarter |
| Investment product withdrawals |
RepaymentsOfAnnuitiesAndInvestmentCertificates
|
$471.22M | USD | 1 Quarter |
| Other financing activities, net |
ProceedsFromPaymentsForOtherFinancingActivities
|
$68.00K | USD | 1 Quarter |
| Net cash provided by financing activities |
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
$515.95M | USD | 1 Quarter |
| Change in cash |
CashPeriodIncreaseDecrease
|
$-7.94M | USD | 1 Quarter |
| Cash at beginning of period |
Cash
|
$462.71M | USD | Point-in-time |
| Cash at beginning of period |
Cash
|
$454.77M | USD | Point-in-time |
| Cash at end of period |
Cash
|
$462.71M | USD | Point-in-time |
| Cash at end of period |
Cash
|
$454.77M | USD | Point-in-time |
Stockholders Equity
7 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Balance |
StockholdersEquity
|
$5.55B | USD | Point-in-time |
| Balance |
StockholdersEquity
|
$5.32B | USD | Point-in-time |
| Net income |
NetIncomeLoss
|
$62.86M | USD | 1 Quarter |
| Other comprehensive income |
OtherComprehensiveIncomeLossNetOfTax
|
$-292.44M | USD | 1 Quarter |
| Total comprehensive income (loss) |
ComprehensiveIncomeNetOfTax
|
$-229.58M | USD | 1 Quarter |
| Balance |
StockholdersEquity
|
$5.55B | USD | Point-in-time |
| Balance |
StockholdersEquity
|
$5.32B | USD | Point-in-time |
Comprehensive Income
13 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
NetIncomeLoss
|
$62.86M | USD | 1 Quarter |
| Change in net unrealized gains (losses) on investments, income tax |
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
|
$-157.35M | USD | 1 Quarter |
| Reclassification adjustment for investment amounts included in net income, income tax |
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
|
$131.00K | USD | 1 Quarter |
| Change in net unrealized gains (losses) on investments, net of income tax: (2015 Successor - $(157,355); 2015 Predecessor - $259,738; 2014 Predecessor - $259,589) |
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
$-292.23M | USD | 1 Quarter |
| Change in net unrealized gains (losses) relating to other-than-temporary impaired investments for which a portion has been recognized in earnings, income tax |
OtherComprehensiveIncomeUnrealizedGainLossOnOtherThanTemporaryImpairedInvestmentsArisingDuringPeriodTax
|
- | USD | 1 Quarter |
| Change in accumulated (loss) gain - derivatives, income tax |
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
|
$-12.00K | USD | 1 Quarter |
| Reclassification adjustment for investment amounts included in net income, net of income tax: (2015 Successor - $(131); 2015 Predecessor - $(2,244); 2014 Predecessor - $(2,023)) |
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
|
$242.00K | USD | 1 Quarter |
| Reclassification adjustment for derivative amounts included in net income, income tax |
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
|
$-31.00K | USD | 1 Quarter |
| Change in postretirement benefits liability adjustment, income tax |
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
|
- | USD | 1 Quarter |
| Change in accumulated (loss) gain - derivatives, net of income tax: (2015 Successor - $(12); 2015 Predecessor - $5; 2014 Predecessor - $316) |
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
|
$-23.00K | USD | 1 Quarter |
| Reclassification adjustment for derivative amounts included in net income, net of income tax: (2015 Successor - $31; 2015 Predecessor - $13; 2014 Predecessor - $235) |
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
|
$-59.00K | USD | 1 Quarter |
| Total other comprehensive income (loss) |
OtherComprehensiveIncomeLossNetOfTax
|
$-292.44M | USD | 1 Quarter |
| Total comprehensive income (loss) |
ComprehensiveIncomeNetOfTax
|
$-229.58M | USD | 1 Quarter |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.