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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 5 Months Ended 6 Months Ended
Jan. 31, 2015
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2015
Jun. 30, 2016
Successor          
Revenues          
Premiums and policy fees   $ 857,948 $ 832,088 $ 1,341,096 $ 1,710,743
Reinsurance ceded   (336,605) (345,244) (486,645) (646,932)
Net of reinsurance ceded   521,343 486,844 854,451 1,063,811
Net investment income   488,460 436,291 725,163 963,577
Realized investment gains (losses):          
Derivative financial instruments   (83,366) 94,603 128,244 (156,865)
All other investments   88,783 (102,337) (137,393) 170,511
Other-than-temporary impairment losses   (5,527) (13,395) (13,395) (8,296)
Portion recognized in other comprehensive income (before taxes)   4,560 7,661 7,661 4,712
Net impairment losses recognized in earnings   (967) (5,734) (5,734) (3,584)
Other income   102,148 109,094 176,357 205,864
Total revenues   1,116,401 1,018,761 1,741,088 2,243,314
Benefits and expenses          
Benefits and settlement expenses, net of reinsurance ceded: (three and six months: 2016 Successor - $276,294 and $576,167); (2015 Successor - $303,743 and $420,951) (2015 Predecessor - $87,674)   713,697 694,606 1,180,905 1,428,242
Amortization of deferred policy acquisition costs and value of business acquired   20,761 40,094 67,991 51,507
Other operating expenses, net of reinsurance ceded: (three and six months: 2016 Successor - $50,950 and $99,261); (2015 Successor - $49,741 and $84,777); (2015 Predecessor - $35,036)   213,282 187,151 302,455 423,062
Total benefits and expenses   947,740 921,851 1,551,351 1,902,811
Income before income tax   168,661 96,910 189,737 340,503
Income tax expense (benefit)   56,541 33,070 63,036 113,035
Net income   $ 112,120 $ 63,840 $ 126,701 $ 227,468
Predecessor          
Revenues          
Premiums and policy fees $ 261,866        
Reinsurance ceded (89,956)        
Net of reinsurance ceded 171,910        
Net investment income 175,180        
Realized investment gains (losses):          
Derivative financial instruments (123,274)        
All other investments 81,153        
Other-than-temporary impairment losses (636)        
Portion recognized in other comprehensive income (before taxes) 155        
Net impairment losses recognized in earnings (481)        
Other income 36,421        
Total revenues 340,909        
Benefits and expenses          
Benefits and settlement expenses, net of reinsurance ceded: (three and six months: 2016 Successor - $276,294 and $576,167); (2015 Successor - $303,743 and $420,951) (2015 Predecessor - $87,674) 267,287        
Amortization of deferred policy acquisition costs and value of business acquired 4,072        
Other operating expenses, net of reinsurance ceded: (three and six months: 2016 Successor - $50,950 and $99,261); (2015 Successor - $49,741 and $84,777); (2015 Predecessor - $35,036) 68,368        
Total benefits and expenses 339,727        
Income before income tax 1,182        
Income tax expense (benefit) (327)        
Net income $ 1,509        
Net income - basic (in dollars per share) $ 0.02        
Net income - diluted (in dollars per share) 0.02        
Cash dividends paid per share (in dollars per share) $ 0        
Average shares outstanding - basic (in shares) 80,452,848        
Average shares outstanding - diluted (in shares) 81,759,287