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Commission File Number: 000-55522

Delaware									47-3339380
(State or Other Jurisdiction of Incorporation)									(IRS Employer Identification No.)

10801 N. Mopac Expy Bldg 3

Austin,

Texas

78759

(512)

836-1010

(Address of Principal Executive Offices) (Zip Code)

(Telephone Number, including area code)

Title of each class to be so registered:

Trading Symbol

Name of each exchange on which each class is to be registered:

Class A Common Stock, $0.01 par value

NWLI

The NASDAQ Stock Market LLC

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days:   Yes ☒   No ☐ 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). : Yes ☒   No ☐ 

Large accelerated filer  ☒  Accelerated filer  ☐    Non-accelerated filer (Do not check if a smaller reporting company)  ☐  Smaller reporting company ☐  Emerging growth company ☐ 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ 

TABLE OF CONTENTS
			Page
Part I.  Financial Information:			3
Item 1.  Financial Statements			3
Condensed Consolidated Balance Sheets September 30, 2020 (Unaudited) and December 31, 2019			3
Condensed Consolidated Statements of Earnings (Loss) For the Three Months Ended September 30, 2020 and 2019 (Unaudited)			5
Condensed Consolidated Statements of Earnings (Loss) For the Nine Months Ended September 30, 2020 and 2019 (Unaudited)			6
Condensed Consolidated Statements of Comprehensive Income (Loss) For the Three Months Ended September 30, 2020 and 2019 (Unaudited)			7
Condensed Consolidated Statements of Comprehensive Income (Loss) For the Nine Months Ended September 30, 2020 and 2019 (Unaudited)			8
Condensed Consolidated Statements of Changes in Stockholders' Equity For the Three Months Ended September 30, 2020 and 2019 (Unaudited)			9
Condensed Consolidated Statements of Changes in Stockholders' Equity For the Nine Months Ended September 30, 2020 and 2019 (Unaudited)			11
Condensed Consolidated Statements of Cash Flows For the Nine Months Ended September 30, 2020 and 2019 (Unaudited)			13
Notes to Condensed Consolidated Financial Statements (Unaudited)			15
Item 2.  Management's Discussion and Analysis of Financial Condition and Results of Operations			62
Item 3.  Quantitative and Qualitative Disclosures About Market Risk			106
Item 4.  Controls and Procedures			106
Part II.  Other Information:			107
Item 1.  Legal Proceedings			107
Item 1A.  Risk Factors			107
Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds			108
Item 4.  Removed and Reserved			109
Item 6.  Exhibits			109
Signatures			110

			(Unaudited)
ASSETS			September 30, 2020						December 31, 2019
Investments:
Debt securities held to maturity, at amortized cost, net of allowance for credit losses ($5,086 and $0; fair value: $7,378,399 and $7,407,703)			$	6,822,053					7,106,245
Debt securities available for sale, at fair value (cost: $3,156,486 and $3,206,120)			3,410,656						3,356,945
Mortgage loans, net of allowance for credit losses ($2,357 and $675)			302,715						272,422
Policy loans			75,714						80,008
Derivatives, index options			93,367						157,588
Equity securities, at fair value (cost: $15,157 and $16,894)			18,610						23,594
Other long-term investments			78,579						62,090
Total investments			10,801,694						11,058,892
Cash and cash equivalents			507,025						253,525
Deferred policy acquisition costs			633,349						723,972
Deferred sales inducements			86,104						104,359
Value of business acquired			132,426						138,071
Accrued investment income			93,330						93,298
Federal income tax receivable			802						—
Other assets			166,256						181,330
Total assets			$	12,420,986					12,553,447

			(Unaudited)
LIABILITIES AND STOCKHOLDERS’ EQUITY			September 30, 2020						December 31, 2019
LIABILITIES:
Future policy benefits:
Universal life and annuity contracts (Note 1)			$	9,013,661					9,303,233
Traditional life reserves			848,515						838,738
Other policyholder liabilities			136,392						127,607
Deferred Federal income tax liability (Note 1)			53,055						36,767
Federal income tax payable			—						3,748
Other liabilities			154,133						126,924
Total liabilities			10,205,756						10,437,017
COMMITMENTS AND CONTINGENCIES (Note 8)
STOCKHOLDERS’ EQUITY:
Common stock:
Class A - $0.01 par value; 7,500,000 shares authorized; 3,436,020 issued and outstanding in 2020 and 2019			34						34
Class B - $0.01 par value; 200,000 shares authorized, issued, and outstanding in 2020 and 2019			2						2
Additional paid-in capital			41,716						41,716
Accumulated other comprehensive income (loss)			104,764						60,108
Retained earnings (Note 1)			2,068,714						2,014,570
Total stockholders’ equity			2,215,230						2,116,430
Total liabilities and stockholders' equity			$	12,420,986					12,553,447

			2020						2019
Premiums and other revenues:
Universal life and annuity contract charges			$	40,303					37,840
Traditional life premiums			22,693						24,099
Net investment income (loss)			129,679						108,456
Other revenues			3,977						3,273
Net realized investment gains (losses):
Total other-than-temporary impairment (“OTTI”) gains (losses)			1						(1,943)
Portion of OTTI (gains) losses recognized in other comprehensive income			(1)						(2)
Net OTTI losses recognized in earnings			—						(1,945)
Other net investment gains (losses)			6,050						1,443
Total net realized investment gains (losses)			6,050						(502)
Total revenues			202,702						173,166
Benefits and expenses:
Life and other policy benefits			26,940						39,918
Amortization of deferred policy acquisition costs and value of business acquired			50,800						22,998
Universal life and annuity contract interest			85,879						59,445
Other operating expenses			25,754						25,813
Total benefits and expenses			189,373						148,174
Earnings before Federal income taxes			13,329						24,992
Federal income taxes			2,504						5,003
Net earnings			$	10,825					19,989
Basic earnings per share:
Class A			$	3.06					$	5.65
Class B			$	1.53					$	2.83
Diluted earnings per share:
Class A			$	3.06					$	5.65
Class B			$	1.53					$	2.83

			2020						2019
Premiums and other revenues:
Universal life and annuity contract charges			$	112,478					112,703
Traditional life premiums			68,956						65,492
Net investment income			261,894						388,211
Other revenues			15,217						13,652
Net realized investment gains (losses):
Total other-than-temporary impairment (“OTTI”) gains (losses)			5						(7,840)
Portion of OTTI (gains) losses recognized in other comprehensive income			(5)						(7)
Net OTTI losses recognized in earnings			—						(7,847)
Other net investment gains (losses)			12,660						11,549
Total net realized investment gains (losses)			12,660						3,702
Total revenues			471,205						583,760
Benefits and expenses:
Life and other policy benefits			94,005						101,764
Amortization of deferred policy acquisition costs and value of business acquired			111,937						86,573
Universal life and annuity contract interest			119,625						200,500
Other operating expenses			74,730						77,196
Total benefits and expenses			400,297						466,033
Earnings before Federal income taxes			70,908						117,727
Federal income taxes			13,732						23,844
Net earnings			$	57,176					93,883
Basic earnings per share:
Class A			$	16.17					$	26.55
Class B			$	8.08					$	13.28
Diluted earnings per share:
Class A			$	16.17					$	26.55
Class B			$	8.08					$	13.28

			2020						2019
Net earnings			$	10,825					19,989
Other comprehensive income (loss), net of effects of deferred costs and taxes:
Unrealized gains (losses) on securities:
Net unrealized holding gains (losses) arising during period			24,357						15,586
Net unrealized liquidity gains (losses)			1						1
Reclassification adjustment for net amounts included in net earnings			(702)						1,380
Net unrealized gains (losses) on securities			23,656						16,967
Foreign currency translation adjustments			85						52
Benefit plans:
Amortization of net prior service cost and net gain (loss)			(2,066)						(504)
Other comprehensive income (loss)			21,675						16,515
Comprehensive income (loss)			$	32,500					36,504

			2020						2019
Net earnings			$	57,176					93,883
Other comprehensive income, net of effects of deferred costs and taxes:
Unrealized gains (losses) on securities:
Net unrealized holding gains (losses) arising during period			53,569						93,730
Net unrealized liquidity gains (losses)			2						3
Reclassification adjustment for net amounts included in net earnings			(2,670)						4,252
Net unrealized gains (losses) on securities			50,901						97,985
Foreign currency translation adjustments			(46)						519
Benefit plans:
Amortization of net prior service cost and net gain (loss)			(6,199)						(1,512)
Other comprehensive income (loss)			44,656						96,992
Comprehensive income (loss)			$	101,832					190,875

			2020						2019
Common stock:
Balance at beginning of period			$	36					36
Shares exercised under stock option plan			—						—
Balance at end of period			36						36
Additional paid-in capital:
Balance at beginning of period			41,716						41,716
Shares exercised under stock option plan			—						—
Balance at end of period			41,716						41,716
Accumulated other comprehensive income (loss):
Unrealized gains (losses) on non-impaired securities:
Balance at beginning of period			97,909						50,730
Change in unrealized gains (losses) during period, net of tax			23,655						16,966
Balance at end of period			121,564						67,696
Unrealized losses on impaired held to maturity securities:
Balance at beginning of period			(3)						(5)
Cumulative effect of change in accounting principle			—						—
Amortization			1						2
Other-than-temporary impairments, non-credit, net of tax			—						—
Additional credit loss on previously impaired securities			—						—
Change in shadow deferred policy acquisition costs			—						(1)
Balance at end of period			(2)						(4)
Unrealized losses on impaired available for sale securities:
Balance at beginning of period			(2)						(2)
Other-than-temporary impairments, non-credit, net of tax			—						—
Change in shadow deferred policy acquisition costs			—						—
Recoveries, net of tax			—						—
Balance at end of period			(2)						(2)
			Continued on Next Page

NATIONAL WESTERN LIFE GROUP, INC. CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (continued) For the Three Months Ended September 30, 2020 and 2019 (Unaudited) (In thousands)
			2020						2019
Foreign currency translation adjustments:
Balance at beginning of period			4,970						5,044
Change in translation adjustments during period			85						52
Balance at end of period			5,055						5,096
Benefit plan liability adjustment:
Balance at beginning of period			(19,785)						(12,305)
Amortization of net prior service cost and net loss, net of tax			(2,066)						(504)
Balance at end of period			(21,851)						(12,809)
Accumulated other comprehensive income (loss) at end of period			104,764						59,977
Retained earnings:
Balance at beginning of period			2,057,889						1,969,934
Cumulative effect of change in accounting principle, net of tax			—						—
Net earnings			10,825						19,989
Balance at end of period			2,068,714						1,989,923
Total stockholders' equity			$	2,215,230					2,091,652

			2020						2019
Common stock:
Balance at beginning of period			$	36					36
Shares exercised under stock option plan			—						—
Balance at end of period			36						36
Additional paid-in capital:
Balance at beginning of period			41,716						41,716
Shares exercised under stock option plan			—						—
Balance at end of period			41,716						41,716
Accumulated other comprehensive income:
Unrealized gains (losses) on non-impaired securities:
Balance at beginning of period			70,665						(30,286)
Change in unrealized gains (losses) during period, net of tax			50,899						97,982
Cumulative effect of change in accounting principle, net of tax			—						—
Balance at end of period			121,564						67,696
Unrealized losses on impaired held to maturity securities:
Balance at beginning of period			(4)						(7)
Amortization			4						6
Other-than-temporary impairments, non-credit, net of tax			—						—
Additional credit loss on previously impaired securities			—						—
Change in shadow deferred policy acquisition costs			(2)						(3)
Balance at end of period			(2)						(4)
Unrealized losses on impaired available for sale securities:
Balance at beginning of period			(2)						(2)
Other-than-temporary impairments, non-credit, net of tax			—						—
Change in shadow deferred policy acquisition costs			—						—
Recoveries, net of tax			—						—
Balance at end of period			(2)						(2)
			Continued on Next Page

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (continued) For the Nine Months Ended September 30, 2020 and 2019 (Unaudited) (In thousands)
			2020						2019
Foreign currency translation adjustments:
Balance at beginning of period			5,101						4,577
Change in translation adjustments during period			(46)						519
Balance at end of period			5,055						5,096
Benefit plan liability adjustment:
Balance at beginning of period			(15,652)						(11,297)
Amortization of net prior service cost and net loss, net of tax			(6,199)						(1,512)
Balance at end of period			(21,851)						(12,809)
Accumulated other comprehensive income (loss) at end of period			104,764						59,977
Retained earnings:
Balance at beginning of period			2,014,570						1,896,040
Cumulative effect of change in accounting principle, net of tax (Note 2)			(3,032)						—
Net earnings			57,176						93,883
Balance at end of period (Note 1)			2,068,714						1,989,923
Total stockholders' equity			$	2,215,230					2,091,652

			2020						2019
Cash flows from operating activities:
Net earnings			$	57,176					93,883
Adjustments to reconcile net earnings to net cash from operating activities:
Universal life and annuity contract interest			119,625						200,500
Surrender charges and other policy revenues			(21,219)						(25,608)
Realized (gains) losses on investments			(12,660)						(3,702)
Accretion/amortization of discounts and premiums, investments			1,580						1,798
Depreciation and amortization			8,892						8,501
Increase (decrease) in estimated credit losses on investments			2,930						—
(Increase) decrease in value of equity securities			3,107						(2,639)
(Increase) decrease in value of derivatives			34,866						(63,127)
(Increase) decrease in deferred policy acquisition and sales inducement costs, and value of business acquired			75,604						53,837
(Increase) decrease in accrued investment income			(32)						3,837
(Increase) decrease in other assets			8,746						1,831
Increase (decrease) in liabilities for future policy benefits			(5,288)						6,960
Increase (decrease) in other policyholder liabilities			8,785						(19,847)
Increase (decrease) in Federal income tax liability			(4,550)						6,486
Increase (decrease) in deferred Federal income tax			5,224						(17,502)
Increase (decrease) in other liabilities			(3,391)						(1,045)
Net cash provided by operating activities			279,395						244,163
Cash flows from investing activities:
Proceeds from sales of:
Debt securities available for sale			—						80,528
Other investments			5,786						29,960
Proceeds from maturities, redemptions, and prepayments of:
Debt securities held to maturity			619,984						486,344
Debt securities available for sale			240,398						189,944
Other investments			9,753						5,911
Derivatives, index options			84,778						28,457
Purchases of:
Debt securities held to maturity			(318,138)						(161,617)
Debt securities available for sale			(181,162)						(127,811)
Equity securities			(1,019)						(977)
Derivatives, index options			(51,318)						(57,443)
Other investments			(23,268)						(7,314)
Property, equipment, and other productive assets			(7,223)						(4,364)
Payment to acquire businesses, net of cash acquired			—						(189,121)

			Continued on Next Page
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (continued) For the Nine Months Ended September 30, 2020 and 2019 (Unaudited) (In thousands)
			2020						2019
Principal payments on mortgage loans			6,022						22,384
Cost of mortgage loans acquired			(41,530)						(47,744)
Decrease (increase) in policy loans			4,294						2,580
Net cash provided by (used in) investing activities			347,357						249,717
Cash flows from financing activities:
Deposits to account balances for universal life and annuity contracts			348,583						292,551
Return of account balances on universal life and annuity contracts			(721,496)						(747,260)
Borrowings under line of credit agreement			—						75,000
Principal payments on line of credit borrowings			—						(75,000)
Principal payments under finance lease obligation			(280)						(295)
Net cash provided by (used in) financing activities			(373,193)						(455,004)
Effect of foreign exchange			(59)						657
Net increase (decrease) in cash, cash equivalents, and restricted cash			253,500						39,533
Cash, cash equivalents, and restricted cash at beginning of period			253,525						131,976
Cash, cash equivalents and restricted cash at end of period			$	507,025					171,509
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid (received) during the period for:
Interest			$	56					252
Income taxes			$	13,229					34,758
Noncash operating activities:
Net deferral and amortization of sales inducements			$	(12,755)					(13,501)
Noncash investing and financing activities:
Contingent consideration to acquire businesses			$	—					3,700

The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for annual financial statements. In the opinion of management, the accompanying Condensed Consolidated Financial Statements contain all adjustments necessary to present fairly the financial position of National Western Life Group, Inc. ("NWLGI") and its wholly owned subsidiaries (“Company”) as of September 30, 2020, and the results of its operations and its cash flows for the three and nine months ended September 30, 2020 and September 30, 2019. Such adjustments are of a normal recurring nature. The results of operations for the nine months ended September 30, 2020 are not necessarily indicative of the results to be expected for the full year. It is recommended that these Condensed Consolidated Financial Statements be read in conjunction with the audited consolidated financial statements and notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019 which is accessible free of charge through the Company's internet site at www.nwlgi.com or the Securities and Exchange Commission internet site at www.sec.gov. The Condensed Consolidated Balance Sheet at December 31, 2019 has been derived from the audited consolidated financial statements as of that date.

During the first quarter of 2020, management identified an understatement of an excess benefit reserve on a specific block of policies that dated back to the first quarter of 2004 with the adoption of the Statement of Position 03-1, Accounting and Reporting by Insurance Enterprises for Certain Nontraditional Long-Duration Contracts and for Separate Accounts (SOP 03-1). Management concluded that this error was not material to previously issued consolidated financial statements and would be corrected through a revision to the comparative consolidated balance sheet presented for the year ended December 31, 2019. The impact of this revision as of December 31, 2019 was an increase to the future policy benefits liability of $15.0 million, a decrease to deferred federal income tax liability of $3.2 million, and a decrease to retained earnings of $11.8 million.

Affected Line Item in the Statements of Earnings						Amount Reclassified From Accumulated Other Comprehensive Income
						Three Months Ended September 30,												Nine Months Ended September 30,
						2020						2019						2020						2019
						(In thousands)
Other net investment gains (losses)						$	889					198						3,380						2,465
Net OTTI losses recognized in earnings						—						(1,945)						—						(7,847)
Earnings before Federal income taxes						889						(1,747)						3,380						(5,382)
Federal income taxes						187						(367)						710						(1,130)
Net earnings						$	702					(1,380)						2,670						(4,252)

In August 2018, the FASB issued ASU 2018-12 Financial Services-Insurance (Topic 944) - Targeted Improvements to the Accounting for Long-Duration Contracts. This update is aimed at improving the Codification as it relates to long-duration contracts which will improve the timeliness of recognizing changes in the liability for future policy benefits, simplify accounting for certain market-based options, simplify the amortization of deferred acquisition costs, and improve the effectiveness of required disclosures. Amendments include the following:

In December 2019, the FASB issued ASU 2019-12 Income Taxes - Simplifying the Accounting for Income Taxes (Topic 740), which simplifies various aspects of the income tax accounting guidance and will be applied using different approaches depending on the specific amendment. The amendments will be effective for fiscal periods beginning after December 15, 2020. Early adoption is permitted. The Company does not expect this guidance to have a material impact on the Consolidated Financial Statements and related disclosures upon adoption.

In June 2016, the FASB released ASU 2016-13, Financial Instruments-Credit Losses, which revises the credit loss recognition criteria for certain financial assets measured at amortized cost. The new guidance replaces the existing incurred loss recognition model with an expected loss recognition model (“CECL”). The objective of the CECL model is for the reporting entity to recognize its estimate of current expected credit losses for affected financial assets in a valuation allowance deducted from the amortized cost basis of the related financial assets that results in presenting the net carrying value of the financial assets at the amount expected to be collected. In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. The amendments in this Update add clarification and correction to ASU 2016-13 around accrued interest, transfers between classifications or categories for loans and debt securities, consideration of recoveries in estimating allowances, reinsurance recoveries, consideration of prepayments and estimated costs to sell when foreclosure is probable. In November, the FASB issued ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments - Credit Losses. The amendments in this Update add clarification and correction to ASU 2016-13 around expected recoveries for purchased financial assets with credit deterioration, transition relief for troubled debt restructurings, disclosures related to accrued interest receivables, and financial assets secured by collateral maintenance provisions. The guidance for these pronouncements was effective for interim and annual periods beginning after December 15, 2019, and for most affected instruments must be adopted using a modified retrospective approach, with a cumulative effect adjustment recorded to beginning retained earnings. Effective January 1, 2020, the Company adopted the expected loss recognition model related to mortgage loans, debt securities held to maturity and reinsurance recoverable. The change in accounting, net of tax, of $3.0 million was recorded as a charge to retained earnings in the first quarter of 2020 reflecting initial allowance for estimated credit losses balances of $1.2 million on mortgage loans and $3.3 million on debt securities held to maturity. The estimated credit losses for the reinsurance recoverable were immaterial to the financial statements, but are monitored on a quarterly basis for any changes. Refer to Note (9) Investments for more information. Certain disclosures required by ASU 2016-13 are not included in the Consolidated Financial Statements as the impact of this standard was not material.

(3) STOCKHOLDERS' EQUITY

(4) EARNINGS PER SHARE

			Three Months Ended September 30,
			2020												2019
			Class A						Class B						Class A						Class B
			(In thousands except per share amounts)
Numerator for Basic and Diluted Earnings Per Share:
Net earnings			$	10,825											19,989
Dividends - Class A shares			—												—
Dividends - Class B shares			—												—
Undistributed earnings			$	10,825											19,989
Allocation of net earnings:
Dividends			$	—					—						—						—
Allocation of undistributed earnings			10,519						306						19,424						565
Net earnings			$	10,519					306						19,424						565
Denominator:
Basic earnings per share - weighted-average shares			3,436						200						3,436						200
Effect of dilutive stock options			—						—						—						—
Diluted earnings per share - adjusted weighted-average shares for assumed conversions			3,436						200						3,436						200
Basic earnings per share			$	3.06					1.53						5.65						2.83
Diluted earnings per share			$	3.06					1.53						5.65						2.83

			Nine Months Ended September 30,
			2020												2019
			Class A						Class B						Class A						Class B
			(In thousands except per share amounts)
Numerator for Basic and Diluted Earnings Per Share:
Net earnings			$	57,176											93,883
Dividends - Class A shares			—												—
Dividends - Class B shares			—												—
Undistributed earnings			$	57,176											93,883
Allocation of net earnings:
Dividends			$	—					—						—						—
Allocation of undistributed earnings			55,560						1,616						91,228						2,655
Net earnings			$	55,560					1,616						91,228						2,655
Denominator:
Basic earnings per share - weighted-average shares			3,436						200						3,436						200
Effect of dilutive stock options			—						—						—						—
Diluted earnings per share - adjusted weighted-average shares for assumed conversions			3,436						200						3,436						200
Basic Earnings Per Share			$	16.17					8.08						26.55						13.28
Diluted Earnings Per Share			$	16.17					8.08						26.55						13.28

			Three Months Ended												Nine Months Ended
			September 30,												September 30,
			2020						2019						2020						2019
			(In thousands)
Service cost			$	27					24						81						72
Interest cost			168						210						505						630
Expected return on plan assets			(315)						(271)						(946)						(815)
Amortization of prior service cost			—						—						—						—
Amortization of net loss			145						165						435						495
Net periodic benefit cost			$	25					128						75						382

			Three Months Ended												Nine Months Ended
			September 30,												September 30,
			2020						2019						2020						2019
			(In thousands)
Service cost			$	302					126						907						377
Interest cost			337						256						1,012						768
Amortization of prior service cost			14						14						44						44
Amortization of net loss			1,446						348						4,336						1,044
Net periodic benefit cost			$	2,099					744						6,299						2,233

(B)Postretirement Employment Plans Other Than Pension

			Three Months Ended												Nine Months Ended
			September 30,												September 30,
			2020						2019						2020						2019
			(In thousands)
Interest cost			$	41					49						124						148
Amortization of prior service cost			—						13						—						39
Amortization of net loss			40						61						119						183
Net periodic benefit cost			$	81					123						243						370

(6)SEGMENT AND OTHER OPERATING INFORMATION

			September 30, 2020
			Domestic Life Insurance						International Life Insurance						Annuities						Acquired Businesses						All Others						Totals
			(In thousands)
Deferred policy acquisition costs, sales inducements, and value of business acquired			$	127,124					183,318						402,072						139,365						—						851,879
Total segment assets			1,467,577						1,049,371						7,797,137						1,030,162						367,605						11,711,852
Future policy benefits			1,275,476						798,665						7,068,118						719,917						—						9,862,176
Other policyholder liabilities			17,190						12,214						91,818						15,170						—						136,392

			December 31, 2019
			Domestic Life Insurance						International Life Insurance						Annuities						Acquired Businesses						All Others						Totals
			(In thousands)
Deferred policy acquisition costs, sales inducements, and value of business acquired			$	127,557					209,858						486,553						142,434						—						966,402
Total segment assets			1,399,818						1,153,105						8,198,730						978,243						362,900						12,092,796
Future policy benefits (1)			1,198,103						870,461						7,366,894						706,513						—						10,141,971
Other policyholder liabilities			18,016						14,903						80,002						14,686						—						127,607

			Three Months Ended September 30, 2020
			Domestic Life Insurance						International Life Insurance						Annuities						Acquired Businesses						All Others						Totals
			(In thousands)
Premiums and contract revenues			$	17,734					21,551						4,187						19,524						—						62,996
Net investment income (loss)			21,201						10,354						87,889						6,434						3,801						129,679
Other revenues			10						6						84						2,628						1,249						3,977
Total revenues			38,945						31,911						92,160						28,586						5,050						196,652
Life and other policy benefits			3,785						2,278						3,383						17,494						—						26,940
Amortization of deferred policy acquisition costs and value of business acquired			10,540						6,496						31,794						1,970						—						50,800
Universal life and annuity contract interest			20,352						(14,023)						79,550						—						—						85,879
Other operating expenses			5,185						5,434						9,205						4,498						1,432						25,754
Federal income taxes (benefit)			(161)						5,169						(5,294)						963						556						1,233
Total expenses			39,701						5,354						118,638						24,925						1,988						190,606
Segment earnings (loss)			$	(756)					26,557						(26,478)						3,661						3,062						6,046

			Nine Months Ended September 30, 2020
			Domestic Life Insurance						International Life Insurance						Annuities						Acquired Businesses						All Others						Totals
			(In thousands)
Premiums and contract revenues			$	40,971					67,479						13,536						59,448						—						181,434
Net investment income			23,293						12,507						196,187						19,284						10,623						261,894
Other revenues			40						54						80						7,369						7,674						15,217
Total revenues			64,304						80,040						209,803						86,101						18,297						458,545
Life and other policy benefits			13,831						9,293						20,452						50,429						—						94,005
Amortization of deferred policy acquisition costs and value of business acquired			16,322						19,392						70,159						6,064						—						111,937
Universal life and annuity contract interest			17,831						(15,368)						117,162						—						—						119,625
Other operating expenses			15,123						13,047						28,787						13,361						4,412						74,730
Federal income taxes (benefit)			199						8,907						(4,440)						4,103						2,304						11,073
Total expenses			63,306						35,271						232,120						73,957						6,716						411,370
Segment earnings (loss)			$	998					44,769						(22,317)						12,144						11,581						47,175

			Three Months Ended September 30, 2019
			Domestic Life Insurance						International Life Insurance						Annuities						Acquired Businesses						All Others						Totals
			(In thousands)
Premiums and contract revenues			$	11,387					25,065						5,336						20,151						—						61,939
Net investment income			12,885						6,872						78,000						6,300						4,399						108,456
Other revenues			49						25						8						2,318						873						3,273
Total revenues			24,321						31,962						83,344						28,769						5,272						173,668
Life and other policy benefits			6,099						5,074						12,550						16,195						—						39,918
Amortization of deferred acquisition costs and value of business acquired			2,181						(3,047)						21,688						2,176						—						22,998
Universal life and annuity contract interest			11,267						14,637						33,541						—						—						59,445
Other operating expenses			5,297						5,493						8,596						4,772						1,655						25,813
Federal income taxes (benefit)			(107)						1,970						1,388						1,133						725						5,109
Total expenses			24,737						24,127						77,763						24,276						2,380						153,283
Segment earnings (loss)			$	(416)					7,835						5,581						4,493						2,892						20,385