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Condensed Consolidated Statements of Earnings (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Premiums and other revenues:        
Universal life and annuity contract charges $ 36,869 $ 36,910 $ 72,175 $ 74,863
Traditional life premiums 22,741 23,810 46,263 41,393
Net investment income (loss) 145,694 128,424 132,215 279,755
Other revenues 7,586 3,966 11,240 10,379
Net realized investment gains (losses):        
Total other-than-temporary impairment (“OTTI”) gains (losses) 2 (5,900) 4 (5,897)
Portion of OTTI (gains) losses recognized in other comprehensive income (2) (2) (4) (5)
Net OTTI losses recognized in earnings 0 (5,902) 0 (5,902)
Other net investment gains (losses) 3,125 5,477 6,610 10,106
Total net realized investment gains (losses) 3,125 (425) 6,610 4,204
Total revenues 216,015 192,685 268,503 410,594
Benefits and expenses:        
Life and other policy benefits 33,431 33,657 67,065 61,846
Amortization of deferred policy acquisition costs and value of business acquired 31,100 31,411 61,137 63,575
Universal life and annuity contract interest 61,772 60,139 33,746 141,055
Other operating expenses 29,154 25,334 48,976 51,383
Total benefits and expenses 155,457 150,541 210,924 317,859
Earnings (loss) before Federal income taxes 60,558 42,144 57,579 92,735
Federal income taxes 12,145 8,448 11,228 18,841
Net earnings (loss) 48,413 33,696 46,351 73,894
Class A        
Benefits and expenses:        
Net earnings (loss) $ 47,044 $ 32,743 $ 45,040 $ 71,804
Basic earnings (loss) per share:        
Earnings (loss) per share, basic (in dollars per share) $ 13.69 $ 9.53 $ 13.11 $ 20.90
Diluted earnings (loss) per share:        
Earnings (loss) per share, diluted (in dollars per share) $ 13.69 $ 9.53 $ 13.11 $ 20.90
Class B        
Benefits and expenses:        
Net earnings (loss) $ 1,369 $ 953 $ 1,311 $ 2,090
Basic earnings (loss) per share:        
Earnings (loss) per share, basic (in dollars per share) $ 6.85 $ 4.76 $ 6.55 $ 10.45
Diluted earnings (loss) per share:        
Earnings (loss) per share, diluted (in dollars per share) $ 6.85 $ 4.76 $ 6.55 $ 10.45