MONY CLOSED BLOCK OF BUSINESS (Tables)

9 Months Ended

Sep. 30, 2016

Summary of financial information for the Closed Block

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



	Successor Company
	As of September 30, 2016		As of December 31, 2015
	(Dollars In Thousands)
Closed block liabilities
Future policy benefits, policyholders’ account balances and other policyholder liabilities	$	5,913,411	$	6,010,520
Policyholder dividend obligation	264,107		—
Other liabilities	52,435		24,539
Total closed block liabilities	6,229,953		6,035,059
Closed block assets
Fixed maturities, available-for-sale, at fair value	$	4,696,136	$	4,426,090
Mortgage loans on real estate	201,078		247,162
Policy loans	717,887		746,102
Cash	79,115		34,420
Other assets	155,360		162,640
Total closed block assets	5,849,576		5,616,414
Excess of reported closed block liabilities over closed block assets	380,377		418,645
Portion of above representing accumulated other comprehensive income:
Net unrealized investment gains (losses) net of policyholder dividend obligation of $16,169 (Successor) and $(179,360) (Successor)	—		(18,597		)
Future earnings to be recognized from closed block assets and closed block liabilities	$	380,377	$	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 Nine Months Ended September 30, 2016			February 1, 2015 to September 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)	(36,707		)	(27,854		)	(1,369		)
Change in net unrealized investment gains (losses) allocated to the policyholder dividend obligation; includes deferred tax benefits of $(8,706) (Successor); $(83,000) (2015 - Successor); $47,277 (2015 - Predecessor)	300,814			(237,143		)	135,077
Policyholder dividend obligation, end of period	$	264,107		$	58,435		$	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 September 30, 2016		For The Three Months Ended September 30, 2015		For The Nine Months Ended September 30, 2016		February 1, 2015 to September 30, 2015		January 1, 2015 to January 31, 2015
	(Dollars In Thousands)								(Dollars In Thousands)
Revenues
Premiums and other income	$	44,043	$	46,610	$	135,282	$	128,279	$	15,065
Net investment income	53,582		54,593		156,458		142,274		19,107
Net investment gains	326		167		963		3,017		568
Total revenues	97,951		101,370		292,703		273,570		34,740
Benefits and other deductions
Benefits and settlement expenses	88,143		90,966		260,227		245,711		31,152
Other operating expenses	537		258		2,214		733		—
Total benefits and other deductions	88,680		91,224		262,441		246,444		31,152
Net revenues before income taxes	9,271		10,146		30,262		27,126		3,588
Income tax expense	3,245		3,551		10,591		9,494		1,256
Net revenues	$	6,026	$	6,595	$	19,671	$	17,632	$	2,332