MONY CLOSED BLOCK OF BUSINESS (Tables)

6 Months Ended

Jun. 30, 2016

Summary of financial information for the Closed Block

Summarized financial information for the Closed Block as of June 30, 2016 (Successor Company) and December 31, 2015 (Successor Company) is as follows:



	Successor Company
	As of June 30, 2016		As of December 31, 2015
	(Dollars In Thousands)
Closed block liabilities
Future policy benefits, policyholders’ account balances and other policyholder liabilities	$	5,939,342	$	6,010,520
Policyholder dividend obligation	232,422		—
Other liabilities	13,268		24,539
Total closed block liabilities	6,185,032		6,035,059
Closed block assets
Fixed maturities, available-for-sale, at fair value	$	4,677,305	$	4,426,090
Mortgage loans on real estate	245,997		247,162
Policy loans	726,563		746,102
Cash	—		34,420
Other assets	148,763		162,640
Total closed block assets	5,798,628		5,616,414
Excess of reported closed block liabilities over closed block assets	386,404		418,645
Portion of above representing accumulated other comprehensive income:
Net unrealized investment gains (losses) net of policyholder dividend obligation of $(9,488) (Successor) and $(179,360) (Successor)	—		(18,597		)
Future earnings to be recognized from closed block assets and closed block liabilities	$	386,404	$	400,048

Schedule of reconciliation of the policyholder dividend obligation

Reconciliation of the policyholder dividend obligation is as follows:



	Successor Company						Predecessor Company
	For The Six Months Ended June 30, 2016			February 1, 2015 to June 30, 2015			January 1, 2015 to January 31, 2015
	(Dollars In Thousands)						(Dollars In Thousands)
Policyholder dividend obligation, beginning of period	$	—		$	323,432		$	366,745
Applicable to net revenue (losses)	(28,921		)	(15,096		)	(1,369		)
Change in net unrealized investment gains (losses) allocated to the policyholder dividend obligation; includes deferred tax benefits of $5,109 (Successor); $89,618 (2015 - Successor); $47,277 (2015 - Predecessor)	261,343			(256,053		)	135,077
Policyholder dividend obligation, end of period	$	232,422		$	52,283		$	500,453

Schedule of Closed Block revenues and expenses

Closed Block revenues and expenses were as follows:



	Successor Company								Predecessor Company
	For The Three Months Ended June 30, 2016		For The Three Months Ended June 30, 2015		For The Six Months Ended June 30, 2016		February 1, 2015 to June 30, 2015		January 1, 2015 to January 31, 2015
	(Dollars In Thousands)								(Dollars In Thousands)
Revenues
Premiums and other income	$	47,320	$	49,998	$	91,239	$	81,669	$	15,065
Net investment income	52,008		54,833		102,875		87,681		19,107
Net investment gains	450		2,216		637		2,850		568
Total revenues	99,778		107,047		194,751		172,200		34,740
Benefits and other deductions
Benefits and settlement expenses	92,029		98,975		172,084		154,746		31,152
Other operating expenses	653		263		1,677		474		—
Total benefits and other deductions	92,682		99,238		173,761		155,220		31,152
Net revenues before income taxes	7,096		7,809		20,990		16,980		3,588
Income tax expense	2,484		2,733		7,346		5,943		1,256
Net revenues	$	4,612	$	5,076	$	13,644	$	11,037	$	2,332