XML 21 R4.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue:        
Revenue $ 1,110,920 $ 1,077,199 $ 2,206,010 $ 2,142,011
Net investment income 261,244 244,712 518,349 489,606
Realized gains (losses) (45,843) (30,446) (76,770) (37,690)
Other income 85 299 135 463
Total revenue 1,326,406 1,291,764 2,647,724 2,594,390
Benefits and expenses:        
Life policyholder benefits [1] 512,664 492,364 1,020,641 987,793
Health policyholder benefits [2] 195,924 190,075 386,886 379,093
Other policyholder benefits 8,922 8,992 17,910 18,694
Total policyholder benefits 717,510 691,431 1,425,437 1,385,580
Amortization of deferred acquisition costs 94,080 86,185 186,402 170,681
Commissions, premium taxes, and non-deferred acquisition costs 138,459 126,213 276,256 251,722
Other operating expense 86,033 89,658 170,204 174,010
Interest expense 25,818 21,828 50,685 41,772
Total benefits and expenses 1,061,900 1,015,315 2,108,984 2,023,765
Income before income taxes 264,506 276,449 538,740 570,625
Income tax benefit (expense) (49,246) (52,476) (99,870) (109,168)
Net income $ 215,260 $ 223,973 $ 438,870 $ 461,457
Basic net income per common share (in dollars per share) $ 2.26 $ 2.28 $ 4.58 $ 4.67
Diluted net income per common share (in dollars per share) $ 2.24 $ 2.26 $ 4.52 $ 4.63
Life premium        
Revenue:        
Revenue $ 781,733 $ 756,892 $ 1,554,330 $ 1,506,020
Health premium        
Revenue:        
Revenue 329,187 320,307 651,680 635,991
Other        
Revenue:        
Revenue $ 0 $ 0 $ 0 $ 0
[1] Net of remeasurement gain of $2.4 million and $1.7 million for the three months ended June 30, 2023 and 2022, respectively. Net of remeasurement gain of $5.1 million for the six months ended June 30, 2023 and a remeasurement loss of $4.1 million for the same period in 2022.
[2] Net of remeasurement gain of $2.6 million and $2.1 million for the three months ended June 30, 2023 and 2022, respectively. Net of remeasurement gain of $532 thousand and $4.0 million for the six months ended June 30, 2023 and 2022, respectively.