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CONSOLIDATED CONDENSED STATEMENTS OF INCOME (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenues        
Premiums and policy fees $ 684,939 $ 696,978 [1] $ 2,092,673 $ 2,079,907 [1]
Reinsurance ceded (321,059) (326,967) [1] (970,290) (1,023,023) [1]
Net of reinsurance ceded 363,880 370,011 [1] 1,122,383 1,056,884 [1]
Net investment income 467,944 462,926 [1] 1,386,287 1,355,924 [1]
Realized investment gains (losses):        
Derivative financial instruments (134,222) (97,816) [1] (212,399) (145,495) [1]
All other investments 122,555 138,230 [1] 223,874 201,619 [1]
Other-than-temporary impairment losses (1,676) (6,259) [1] (49,766) (37,912) [1]
Portion recognized in other comprehensive income (before taxes) (6,880) (3,570) [1] 8,838 12,933 [1]
Net impairment losses recognized in earnings (8,556) (9,829) [1] (40,928) (24,979) [1]
Other income 81,190 75,859 [1] 273,930 235,292 [1]
Total revenues 892,791 939,381 [1] 2,753,147 2,679,245 [1]
Benefits and expenses        
Benefits and settlement expenses, net of reinsurance ceded: (three months: 2012 - $307,866; 2011 - $208,720; nine months: 2012 - $895,845; 2011 - $878,991) 629,945 592,792 [1] 1,788,096 1,680,714 [1]
Amortization of deferred policy acquisition costs and value of business acquired 14,011 71,740 [1] 138,035 202,684 [1]
Other operating expenses, net of reinsurance ceded: (three months: 2012 - $46,679; 2011 - $48,924; nine months: 2012 - $139,288; 2011 - $142,994) 157,849 152,563 [1] 477,764 448,008 [1]
Total benefits and expenses 801,805 817,095 [1] 2,403,895 2,331,406 [1]
Income before income tax 90,986 122,286 [1] 349,252 347,839 [1]
Income tax expense 30,506 39,429 [1] 113,596 118,236 [1]
Net income 60,480 82,857 [1] 235,656 229,603 [1]
Less: Net income attributable to noncontrolling interests       245 [1]
Net income available to PLC's common shareowners $ 60,480 [2] $ 82,857 [1],[2] $ 235,656 [2] $ 229,358 [1],[2]
Net income available to PLC's common shareowners - basic (in dollars per share) $ 0.75 $ 0.98 [1] $ 2.89 $ 2.67 [1]
Net income available to PLC's common shareowners - diluted (in dollars per share) $ 0.73 $ 0.96 [1] $ 2.83 $ 2.63 [1]
Cash dividends paid per share (in dollars per share) $ 0.18 $ 0.16 [1] $ 0.52 $ 0.46 [1]
Average shares outstanding - basic (in shares) 80,662,745 84,722,232 [1] 81,541,462 85,883,669 [1]
Average shares outstanding - diluted (in shares) 82,406,103 86,004,571 [1] 83,187,854 87,152,812 [1]
[1] Recast from previously reported information
[2] Protective Life Corporation ("PLC")