EARNINGS PER SHARE (PREDECESSOR COMPANY)

12 Months Ended

Dec. 31, 2016

EARNINGS PER SHARE (PREDECESSOR COMPANY)

As of February 1, 2015, the Company became a wholly owned subsidiary of Dai-ichi Life, and for the period of February 1, 2015 to December 31, 2015 (Successor Company), the Company's outstanding common stock was delisted from public exchanges, and there was no market for the Company’s common stock, which is held entirely by Dai-ichi Life, and therefore the Company will no longer disclose earnings per share information.

For periods prior to February 1, 2015, basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period, including shares issuable under various deferred compensation plans. Diluted earnings per share is computed by dividing net income by the weighted-average number of common shares and dilutive potential common shares outstanding during the period, assuming the shares were not anti-dilutive, including shares issuable under various stock-based compensation plans and stock purchase contracts.

A reconciliation of the numerators and denominators of the basic and diluted earnings per share is presented below for the period of January 1, 2015 to January 31, 2015 (Predecessor Company) and for the year ended December 31, 2014 (Predecessor Company):



	Predecessor Company
	January 1, 2015 to January 31, 2015		For The Year Ended
	January 1, 2015 to January 31, 2015		December 31, 2014
	(Dollars In Thousands, Except Per Share Amounts)
Calculation of basic earnings per share:
Net income	$	1,509	$	384,875

Average shares issued and outstanding	79,343,253		78,970,229
Issuable under various deferred compensation plans	1,109,595		1,094,988
Weighted shares outstanding - basic	80,452,848		80,065,217
Per share:
Net income - basic	$	0.02	$	4.81
Calculation of diluted earnings per share:
Net income	$	1,509	$	384,875

Weighted shares outstanding - basic	80,452,848		80,065,217
Stock appreciation rights ("SARs")	64,570		272,196
Issuable under various other stock-based compensation plans	935,382		768,656
Restricted stock units	306,487		269,427
Weighted shares outstanding - diluted	81,759,287		81,375,496
Per share:
Net income - diluted	$	0.02	$	4.73