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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenue:    
Revenue $ 1,145,284 $ 1,095,090
Net investment income 282,578 257,105
Realized gains (losses) (11,799) (30,927)
Other income 76 50
Total revenue 1,416,139 1,321,318
Benefits and expenses:    
Total policyholder benefits 731,793 707,927
Amortization of deferred acquisition costs 99,478 92,322
Commissions, premium taxes, and non-deferred acquisition costs 148,110 137,797
Other operating expense 93,214 84,171
Interest expense 28,621 24,867
Total benefits and expenses 1,101,216 1,047,084
Income before income taxes 314,923 274,234
Income tax benefit (expense) (60,706) (50,624)
Net income $ 254,217 $ 223,610
Basic net income per common share (in dollars per share) $ 2.71 $ 2.32
Diluted net income per common share (in dollars per share) $ 2.67 $ 2.28
Life premium    
Revenue:    
Revenue $ 804,265 $ 772,597
Benefits and expenses:    
Total policyholder benefits [1] 519,871 507,977
Health premium    
Revenue:    
Revenue 341,019 322,493
Benefits and expenses:    
Total policyholder benefits [2] 202,327 190,962
Other premium    
Revenue:    
Revenue 0 0
Benefits and expenses:    
Total policyholder benefits $ 9,595 $ 8,988
[1] Net of a remeasurement gain of $4.9 million for the three months ended March 31, 2024, and a remeasurement gain of $2.7 million for the same period in 2023.
[2] Net of a remeasurement gain of $3.2 million for the three months ended March 31, 2024, and a remeasurement loss of $2.0 million for the same period in 2023.