2015 Q4 Form 10-Q Financial Statement

#000089817415000035 Filed on November 04, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $2.829B $2.439B $2.717B
YoY Change 4.86% -10.23% 13.67%
Cost Of Revenue $1.832B $1.855B
YoY Change -1.25% 8.17%
Gross Profit $606.8M $861.6M
YoY Change -29.57% 27.65%
Gross Profit Margin 24.88% 31.71%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.580B $2.258B $2.446B
YoY Change 6.31% -7.7% 13.53%
Operating Profit -$1.651B -$1.585B
YoY Change 4.19% 7.09%
Interest Expense -$42.00M $35.57M $36.07M
YoY Change -800.0% -1.39% 16.98%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $206.7M $140.1M $231.8M
YoY Change -25.29% -39.55% 14.93%
Income Tax $43.60M $56.60M $73.82M
% Of Pretax Income 21.09% 40.39% 31.84%
Net Earnings $163.1M $83.53M $158.0M
YoY Change -14.63% -47.13% 14.53%
Net Earnings / Revenue 5.77% 3.43% 5.82%
Basic Earnings Per Share $2.49 $1.26 $2.30
Diluted Earnings Per Share $2.46 $1.25 $2.28
COMMON SHARES
Basic Shares Outstanding 65.75M shares 66.21M shares 68.64M shares
Diluted Shares Outstanding 66.88M shares 69.34M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $1.525B $1.748B $1.119B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $7.000M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $38.85B $35.78B $32.90B
YoY Change 14.31% 8.73% 3.07%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $50.38B $47.61B $42.91B
YoY Change 12.83% 10.94% 8.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $3.197B $3.228B $2.797B
YoY Change 4.07% 15.41% 3.63%
Other Long-Term Liabilities $14.83B $15.11B $13.61B
YoY Change 9.15% 11.03% 1.69%
Total Long-Term Liabilities $18.03B $18.33B $16.40B
YoY Change 8.21% 11.78% 2.02%
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities $18.03B $18.33B $16.40B
Total Liabilities $44.25B $41.37B $36.23B
YoY Change 17.58% 14.17% 7.73%
SHAREHOLDERS EQUITY
Retained Earnings $4.620B $4.483B $4.074B
YoY Change 8.98% 10.03% 14.94%
Common Stock $1.817B $1.813B $1.786B
YoY Change 0.99% 1.54% 0.37%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.010B $961.3M $679.3M
YoY Change 50.23% 41.52% 28.63%
Treasury Stock Shares 13.93M shares
Shareholders Equity $6.135B $6.241B $6.680B
YoY Change
Total Liabilities & Shareholders Equity $50.38B $47.61B $42.91B
YoY Change 12.83% 10.94% 8.56%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $163.1M $83.53M $158.0M
YoY Change -14.63% -47.13% 14.53%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $1.210B $272.8M $330.4M
YoY Change 10.21% -17.43% -25.9%
INVESTING ACTIVITIES
Capital Expenditures $600.0K -$1.300M -$31.00M
YoY Change -104.26% -95.81%
Acquisitions
YoY Change
Other Investing Activities -$1.248B $289.4M -$390.3M
YoY Change 59.89% -174.15% 266.82%
Cash From Investing Activities -$1.247B $288.1M -$421.4M
YoY Change 57.01% -168.37% 296.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -166.5M -125.3M -133.3M
YoY Change -165.5% -6.0% -232.64%
NET CHANGE
Cash From Operating Activities 1.210B 272.8M 330.4M
Cash From Investing Activities -1.247B 288.1M -421.4M
Cash From Financing Activities -166.5M -125.3M -133.3M
Net Change In Cash -203.2M 435.6M -224.3M
YoY Change -136.41% -294.2% -150.98%
FREE CASH FLOW
Cash From Operating Activities $1.210B $272.8M $330.4M
Capital Expenditures $600.0K -$1.300M -$31.00M
Free Cash Flow $1.210B $274.1M $361.4M
YoY Change 8.76% -24.16%

Facts In Submission

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3731763000 USD
CY2015Q3 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Fair Value
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3836783000 USD
CY2014Q4 us-gaap Available For Sale Securities Debt Securities
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25480972000 USD
CY2015Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
27411788000 USD
CY2014Q3 us-gaap Available For Sale Securities Gross Realized Gains
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8819000 USD
us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
51773000 USD
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1640 securities
CY2014Q3 us-gaap Benefits Losses And Expenses
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2484773000 USD
us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
7474991000 USD
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2298497000 USD
us-gaap Benefits Losses And Expenses
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7051535000 USD
CY2015Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
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350600000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
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0 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
804000 USD
us-gaap Cash Acquired From Acquisition
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19907000 USD
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923647000 USD
CY2014Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1118745000 USD
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CashAndCashEquivalentsAtCarryingValue
1645669000 USD
CY2015Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1747692000 USD
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195098000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
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102023000 USD
us-gaap Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
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us-gaap Change In Unrealized Gain Loss On Hedged Item In Fair Value Hedge1
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293000 USD
CY2015Q3 us-gaap Collateralized Financings
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160600000 USD
CY2014Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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CY2015Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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0.33
us-gaap Common Stock Dividends Per Share Declared
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0.93
CY2015Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.37
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.03
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0.01
CY2015Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
140000000 shares
CY2015Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
140000000 shares
CY2014Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
79137758 shares
CY2015Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
79137758 shares
CY2014Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2015Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
65749401 shares
CY2014Q4 us-gaap Common Stock Value
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791000 USD
CY2015Q3 us-gaap Common Stock Value
CommonStockValue
791000 USD
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28943000 USD
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14111000 USD
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3342575000 USD
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3311086000 USD
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
4000000 USD
us-gaap Defined Benefit Plans Estimated Future Employer Contributions In Current Fiscal Year
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0 USD
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ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
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ConcentrationRiskPercentage1
1.000
us-gaap Concentration Risk Percentage1
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1.000
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805700000 USD
CY2015Q3 us-gaap Credit Derivative Maximum Exposure Undiscounted
CreditDerivativeMaximumExposureUndiscounted
902000000 USD
CY2014Q4 us-gaap Credit Risk Derivatives At Fair Value Net
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8187000 USD
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CreditRiskDerivativesAtFairValueNet
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
43670000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
128557000 USD
CY2014Q4 us-gaap Deferred Income Tax Liabilities
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CY2015Q3 us-gaap Deferred Income Tax Liabilities
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CY2014Q4 us-gaap Deposits With Clearing Organizations And Others Securities
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-16333000 USD
CY2015Q3 us-gaap Deposits With Clearing Organizations And Others Securities
DepositsWithClearingOrganizationsAndOthersSecurities
-33380000 USD
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14111000 USD
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21589000 USD
CY2014Q4 us-gaap Derivative Asset Fair Value Of Collateral
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20260000 USD
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19127000 USD
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DerivativeAssets
224693000 USD
CY2015Q3 us-gaap Derivative Assets
DerivativeAssets
288816000 USD
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175209000 USD
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252059000 USD
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P4Y11M
us-gaap Derivative Average Remaining Maturity1
DerivativeAverageRemainingMaturity1
P5Y2M
CY2014Q4 us-gaap Derivative Collateral Obligation To Return Cash
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178141000 USD
CY2015Q3 us-gaap Derivative Collateral Obligation To Return Cash
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260135000 USD
CY2014Q4 us-gaap Derivative Collateral Right To Reclaim Cash
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0 USD
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DerivativeCollateralRightToReclaimCash
15916000 USD
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260898000 USD
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310405000 USD
CY2014Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
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26292000 USD
CY2015Q3 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
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9554000 USD
CY2014Q4 us-gaap Derivative Fair Value Of Derivative Liability
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1141831000 USD
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1216450000 USD
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-4668000 USD
CY2015Q3 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
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-37083000 USD
us-gaap Derivative Instruments Gain Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing
DerivativeInstrumentsGainRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTesting
2100000 USD
CY2014Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
42554000 USD
CY2015Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
38953000 USD
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21589000 USD
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47222000 USD
CY2015Q3 us-gaap Derivative Liability Fair Value Of Collateral
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60120000 USD
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2.30
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1.26
us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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EarningsPerShareDiluted
1.25
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5.01
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2014Q3 us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
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0.326
CY2015Q3 us-gaap Effective Income Tax Rate Continuing Operations
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0.404
us-gaap Effective Income Tax Rate Continuing Operations
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0.370
CY2015Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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27700000 USD
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P2Y
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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2884000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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2884000 USD
CY2015Q3 us-gaap Financial Assets Sold Under Agreements To Repurchase Gross Including Not Subject To Master Netting Arrangement
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468008000 USD
CY2014Q4 us-gaap Funds Held Under Reinsurance Agreements Asset
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CY2015Q3 us-gaap Funds Held Under Reinsurance Agreements Asset
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us-gaap Gain Loss On Fair Value Hedge Ineffectiveness Net
GainLossOnFairValueHedgeIneffectivenessNet
0 USD
CY2014Q3 us-gaap Gain Loss On Investments
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22318000 USD
us-gaap Gain Loss On Investments
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225416000 USD
CY2015Q3 us-gaap Gain Loss On Investments
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-111346000 USD
us-gaap Gain Loss On Investments
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-119941000 USD
CY2014Q3 us-gaap Gain Loss On Sale Of Other Investments
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22564000 USD
us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
226835000 USD
CY2015Q3 us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
-88235000 USD
us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
-90166000 USD
CY2014Q4 us-gaap Guaranteed Interest Contracts
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CY2015Q3 us-gaap Guaranteed Interest Contracts
GuaranteedInterestContracts
13699896000 USD
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24029000 USD
us-gaap Impaired Financing Receivable Average Recorded Investment
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29561000 USD
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ImpairedFinancingReceivableAverageRecordedInvestment
18859000 USD
us-gaap Impaired Financing Receivable Average Recorded Investment
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17925000 USD
CY2014Q3 us-gaap Impaired Financing Receivable Interest Income Accrual Method
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251000 USD
us-gaap Impaired Financing Receivable Interest Income Accrual Method
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1092000 USD
CY2015Q3 us-gaap Impaired Financing Receivable Interest Income Accrual Method
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265000 USD
us-gaap Impaired Financing Receivable Interest Income Accrual Method
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790000 USD
CY2014Q4 us-gaap Impaired Financing Receivable Recorded Investment
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17027000 USD
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-3645000 USD
us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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-11715000 USD
CY2015Q3 us-gaap Impaired Financing Receivable Recorded Investment
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20834000 USD
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816000 USD
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710000 USD
CY2014Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
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17593000 USD
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21403000 USD
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231815000 USD
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731790000 USD
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140137000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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538052000 USD
CY2014Q3 us-gaap Income Tax Expense Benefit
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238834000 USD
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56603000 USD
us-gaap Income Tax Expense Benefit
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326000 USD
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10239000 USD
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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21997000 USD
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us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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81135000 USD
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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256126000 USD
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49048000 USD
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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188318000 USD
CY2014Q3 us-gaap Income Tax Reconciliation Other Adjustments
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451000 USD
us-gaap Income Tax Reconciliation Other Adjustments
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429000 USD
CY2015Q3 us-gaap Income Tax Reconciliation Other Adjustments
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1384000 USD
us-gaap Income Tax Reconciliation Other Adjustments
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1076000 USD
CY2014Q3 us-gaap Income Tax Reconciliation Prior Year Income Taxes
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us-gaap Income Tax Reconciliation Prior Year Income Taxes
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3747000 USD
us-gaap Income Tax Reconciliation Prior Year Income Taxes
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us-gaap Income Tax Reconciliation Tax Contingencies Domestic
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us-gaap Income Tax Reconciliation Tax Contingencies Domestic
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1558000 USD
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3568000 USD
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1106000 USD
us-gaap Income Tax Reconciliation Tax Credits Foreign
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4554000 USD
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37833000 USD
us-gaap Income Taxes Paid Net
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13494000 USD
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83283000 USD
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60202000 USD
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47088000 USD
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42855000 USD
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67024000 USD
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63390000 USD
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14670000 USD
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100000000 USD
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74089000 USD
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100804000 USD
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42620000 USD
CY2014Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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692000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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675000 shares
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677000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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749000 shares
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120952000 USD
us-gaap Interest Credited To Policyholders Account Balances
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347508000 USD
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34008000 USD
us-gaap Interest Credited To Policyholders Account Balances
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231932000 USD
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36065000 USD
us-gaap Interest Expense
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106360000 USD
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35565000 USD
us-gaap Interest Expense
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107043000 USD
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93698000 USD
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103481000 USD
CY2015Q3 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
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200000 USD
CY2014Q3 us-gaap Investment Income Investment Expense
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15698000 USD
us-gaap Investment Income Investment Expense
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44153000 USD
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16455000 USD
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
50305000 USD
CY2014Q4 us-gaap Investments
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CY2015Q3 us-gaap Investments
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490590000 USD
CY2015Q3 us-gaap Investments Fair Value Disclosure
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523692000 USD
CY2014Q4 us-gaap Liabilities
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CY2015Q3 us-gaap Liabilities
Liabilities
41365054000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
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CY2015Q3 us-gaap Liabilities And Stockholders Equity
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CY2015Q3 us-gaap Liabilities Fair Value Disclosure Recurring
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1145363000 USD
CY2014Q4 us-gaap Liability For Future Policy Benefits
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CY2015Q3 us-gaap Liability For Future Policy Benefits
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2712238000 USD
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3170002000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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-509787000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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-516764000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-184942000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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1238176000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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878466000 USD
CY2014Q3 us-gaap Net Credit Loss On Loans Managed Or Securitized Or Assetbacked Financing Arrangement
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2757000 USD
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3824069000 USD
CY2015Q3 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
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3892036000 USD
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2718709000 USD
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3175654000 USD
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2314293000 USD
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7976000 USD
CY2015Q3 us-gaap Margin Deposit Assets
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9761000 USD
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246000 USD
us-gaap Marketable Securities Realized Gain Loss Other Than Temporary Impairments Amount
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1419000 USD
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23111000 USD
us-gaap Marketable Securities Realized Gain Loss Other Than Temporary Impairments Amount
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29775000 USD
us-gaap Net Credit Loss On Loans Managed Or Securitized Or Assetbacked Financing Arrangement
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2733000 USD
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NetCreditLossOnLoansManagedOrSecuritizedOrAssetbackedFinancingArrangement
0 USD
us-gaap Net Credit Loss On Loans Managed Or Securitized Or Assetbacked Financing Arrangement
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0 USD
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Investment Income
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1262088000 USD
CY2015Q3 us-gaap Net Investment Income
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389597000 USD
us-gaap Net Investment Income
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3600000000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
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0 USD
CY2015Q2 us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
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3681700000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
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3685708000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
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0 USD
CY2015Q2 us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
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3490200000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
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3490557000 USD
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CY2015Q3 us-gaap Other Assets
OtherAssets
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CY2014Q4 us-gaap Other Assets Fair Value Disclosure
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CY2015Q3 us-gaap Other Assets Fair Value Disclosure
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13298000 USD
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-75147000 USD
CY2015Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
421000 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
1435000 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
1685000 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
3473000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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515949000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
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us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
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us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
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CY2014Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
494000000 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-242885000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-750650000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-275225000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
244218000 USD
CY2014Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
566014000 USD
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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133737000 USD
us-gaap Other Cost And Expense Operating
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372135000 USD
CY2015Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
142270000 USD
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
395488000 USD
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78879000 USD
us-gaap Other Income
OtherIncome
267195000 USD
CY2015Q3 us-gaap Other Income
OtherIncome
71038000 USD
us-gaap Other Income
OtherIncome
200261000 USD
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1198319000 USD
CY2015Q3 us-gaap Other Investments
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1187504000 USD
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CY2015Q3 us-gaap Other Liabilities
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us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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CY2014Q4 us-gaap Other Short Term Investments
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97694000 USD
CY2015Q3 us-gaap Other Short Term Investments
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58200000 USD
CY2013Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
11696000 USD
CY2014Q2 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
7284000 USD
CY2014Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
7284000 USD
CY2015Q2 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
7284000 USD
CY2015Q3 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
7284000 USD
CY2014Q3 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Securities Sold
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsSecuritiesSold
0 USD
us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Securities Sold
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsSecuritiesSold
4412000 USD
CY2015Q3 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Securities Sold
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsSecuritiesSold
0 USD
us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Securities Sold
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsSecuritiesSold
0 USD
CY2014Q3 us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent Availableforsale Securities
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us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent Availableforsale Securities
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CY2015Q3 us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentAvailableforsaleSecurities
0 USD
us-gaap Other Than Temporary Impairment Losses Investments Portion In Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionInOtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentAvailableforsaleSecurities
0 USD
CY2014Q3 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
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246000 USD
us-gaap Premiums Earned Net
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us-gaap Proceeds From Annuities And Investment Certificates
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204456000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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100000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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0 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
3746290000 USD
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PaymentsToAcquireBusinessesGross
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us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
195151000 USD
us-gaap Payments To Acquire Mortgage Notes Receivable
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us-gaap Payments To Acquire Mortgage Notes Receivable
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us-gaap Payments To Acquire Property Plant And Equipment
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74342000 USD
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1419000 USD
CY2015Q3 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
23111000 USD
us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
29775000 USD
us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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us-gaap Payments For Proceeds From Policy Loans
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52914000 USD
us-gaap Payments For Proceeds From Policy Loans
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us-gaap Payments For Proceeds From Short Term Investments
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us-gaap Payments For Repurchase Of Equity
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us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
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us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1074000 USD
us-gaap Payments Of Dividends
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64587000 USD
us-gaap Payments Of Dividends
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69111000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
4414097000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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24240000 USD
us-gaap Payments To Fund Policy Loans
PaymentsToFundPolicyLoans
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us-gaap Payments To Fund Policy Loans
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us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
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1831819000 USD
us-gaap Policyholder Benefits And Claims Incurred Net
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CY2015Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2015Q3 us-gaap Preferred Stock Shares Authorized
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10000000 shares
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0 shares
CY2015Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2015Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
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0 USD
CY2015Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
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CY2015Q3 us-gaap Premiums And Other Receivables Net
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us-gaap Premiums Earned Net
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6452082000 USD
CY2015Q3 us-gaap Premiums Earned Net
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2089345000 USD
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y11M
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450000000 USD
CY2015Q1 us-gaap Stock Repurchase Program Authorized Amount1
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300000000 USD
us-gaap Proceeds From Issuance Of Secured Debt
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us-gaap Proceeds From Issuance Of Secured Debt
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us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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353554000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
342126000 USD
us-gaap Proceeds From Repayments Of Secured Debt
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0 USD
us-gaap Proceeds From Repayments Of Secured Debt
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us-gaap Proceeds From Sale And Collection Of Mortgage Notes Receivable
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us-gaap Proceeds From Sale And Collection Of Mortgage Notes Receivable
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us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
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us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
3904948000 USD
us-gaap Proceeds From Stock Options Exercised
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17010000 USD
us-gaap Proceeds From Stock Options Exercised
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12551000 USD
CY2014Q3 us-gaap Provision For Loan And Lease Losses
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93000 USD
us-gaap Provision For Loan And Lease Losses
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CY2015Q3 us-gaap Provision For Loan And Lease Losses
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us-gaap Provision For Loan And Lease Losses
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22318000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
225416000 USD
CY2015Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
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us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
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CY2014Q4 us-gaap Reinsurance Payable
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306915000 USD
CY2015Q3 us-gaap Reinsurance Payable
ReinsurancePayable
280093000 USD
CY2014Q4 us-gaap Reinsurance Recoverables
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578206000 USD
CY2015Q3 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
661185000 USD
us-gaap Repayments Of Annuities And Investment Certificates
RepaymentsOfAnnuitiesAndInvestmentCertificates
525217000 USD
us-gaap Repayments Of Annuities And Investment Certificates
RepaymentsOfAnnuitiesAndInvestmentCertificates
556821000 USD
us-gaap Repayments Of Long Term Debt
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192000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1776000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
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4239647000 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
4482709000 USD
CY2014Q3 us-gaap Revenues
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2716588000 USD
us-gaap Revenues
Revenues
8206781000 USD
CY2015Q3 us-gaap Revenues
Revenues
2438634000 USD
us-gaap Revenues
Revenues
7589587000 USD
CY2015Q3 us-gaap Secured Borrowings Gross Difference Amount
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16743000 USD
CY2014Q4 us-gaap Secured Debt
SecuredDebt
782701000 USD
CY2015Q3 us-gaap Secured Debt
SecuredDebt
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CY2014Q4 us-gaap Securities For Reverse Repurchase Agreements
SecuritiesForReverseRepurchaseAgreements
298466000 USD
CY2015Q3 us-gaap Securities For Reverse Repurchase Agreements
SecuritiesForReverseRepurchaseAgreements
442679000 USD
CY2014Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
92446000 USD
CY2015Q3 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
0 USD
CY2014Q4 us-gaap Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Securities
SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimSecurities
338929000 USD
CY2015Q3 us-gaap Securities Sold Under Agreements To Repurchase Collateral Right To Reclaim Securities
SecuritiesSoldUnderAgreementsToRepurchaseCollateralRightToReclaimSecurities
484751000 USD
CY2014Q4 us-gaap Securities Sold Under Agreements To Repurchase Fair Value Of Collateral
SecuritiesSoldUnderAgreementsToRepurchaseFairValueOfCollateral
107158000 USD
CY2015Q3 us-gaap Securities Sold Under Agreements To Repurchase Fair Value Of Collateral
SecuritiesSoldUnderAgreementsToRepurchaseFairValueOfCollateral
0 USD
CY2015Q3 us-gaap Securities Sold Under Agreements To Repurchase Gross Including Not Subject To Master Netting Arrangement
SecuritiesSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement
484751000 USD
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1700000 shares
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
53.54
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
300000 shares
CY2015Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
150000000 USD
CY2015Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
125700000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
7023452000 USD
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
6241066000 USD
us-gaap Transfer To Investments
TransferToInvestments
0 USD
us-gaap Transfer To Investments
TransferToInvestments
342082000 USD
CY2015Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
90.65
CY2015Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
92.94
CY2015Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
90.36
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
90.75
CY2014Q4 us-gaap Treasury Stock Number Of Shares Held
TreasuryStockNumberOfSharesHeld
10364797 shares
CY2015Q3 us-gaap Treasury Stock Number Of Shares Held
TreasuryStockNumberOfSharesHeld
13388357 shares
CY2015Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
2538718 shares
CY2015Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
252642 shares
CY2015Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
782437 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
3573797 shares
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
672394000 USD
CY2015Q3 us-gaap Treasury Stock Value
TreasuryStockValue
961290000 USD
CY2015Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
230124000 USD
CY2015Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
23480000 USD
CY2015Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
70702000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
324306000 USD
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69335000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
70101000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
66882000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67644000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68643000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69426000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
66205000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
66895000 shares
us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table includes the amount of borrowed securities, repurchased securities pledged and repurchased/reverse repurchased securities pledged and received as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">September&#160;30, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;"> (dollars in thousands).</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td width="48%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="10%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="10%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="2%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="10%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="10%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">September 30, 2015</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">December 31, 2014</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Amortized</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Cost</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Estimated </font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Fair Value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Amortized</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Cost</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Estimated </font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Fair Value</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Borrowed securities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">265,240</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">281,225</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">201,050</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">212,946</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Repurchase program securities pledged</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">92,446</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">107,158</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Repurchase program/reverse repurchase program:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Securities pledged</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">442,679</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">468,008</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">298,466</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">314,160</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Securities received</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">n/a</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">484,751</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">n/a</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">338,929</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div>

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