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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 8 Months Ended 9 Months Ended
Jan. 31, 2015
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2015
Sep. 30, 2016
Successor          
Revenues          
Premiums and policy fees   $ 834,544 $ 797,741 $ 2,138,837 $ 2,545,287
Reinsurance ceded   (322,229) (306,774) (793,419) (969,161)
Net of reinsurance ceded   512,315 490,967 1,345,418 1,576,126
Net investment income   482,729 440,620 1,165,783 1,446,306
Realized investment gains (losses):          
Derivative financial instruments   116 (74,590) 53,654 (156,749)
All other investments   24,152 5,348 (132,045) 194,663
Other-than-temporary impairment losses   (1,898) (14,906) (28,301) (10,194)
Portion recognized in other comprehensive income (before taxes)   (1,410) 4,842 12,503 3,302
Net impairment losses recognized in earnings   (3,308) (10,064) (15,798) (6,892)
Other income   107,642 108,312 284,669 313,506
Total revenues   1,123,646 960,593 2,701,681 3,366,960
Benefits and expenses          
Benefits and settlement expenses, net of reinsurance ceded: (three and nine months: 2016 Successor - $279,109 and $855,276); (2015 Successor - $266,287 and $687,238); (2015 Predecessor - $87,674)   733,051 676,181 1,857,086 2,161,293
Amortization of deferred policy acquisition costs and value of business acquired   43,392 8,722 76,713 94,899
Other operating expenses, net of reinsurance ceded: (three and nine months: 2016 Successor - $49,073 and $148,334); (2015 Successor - $49,717 and $134,494); (2015 Predecessor - $35,036)   214,124 188,430 490,885 637,186
Total benefits and expenses   990,567 873,333 2,424,684 2,893,378
Income before income tax   133,079 87,260 276,997 473,582
Income tax expense (benefit)   39,785 26,853 89,889 152,820
Net income   $ 93,294 $ 60,407 $ 187,108 $ 320,762
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 nine months: 2016 Successor - $279,109 and $855,276); (2015 Successor - $266,287 and $687,238); (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 nine months: 2016 Successor - $49,073 and $148,334); (2015 Successor - $49,717 and $134,494); (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