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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, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues        
Premiums and policy fees $ 759,038 $ 657,218 $ 2,426,736 $ 2,140,396
Reinsurance ceded (277,136) (270,730) (947,817) (996,570)
Net of reinsurance ceded 481,902 386,488 1,478,919 1,143,826
Net investment income 558,174 454,275 1,647,153 1,378,129
Realized investment gains (losses):        
Derivative financial instruments 3,781 41,326 (191,495) 192,592
All other investments 1,194 (19,508) 153,456 (133,631)
Other-than-temporary impairment losses (1,142) (6,635) (2,026) (9,764)
Portion recognized in other comprehensive income (before taxes) (1,212) (2,046) (3,379) (7,501)
Net impairment losses recognized in earnings (2,354) (8,681) (5,405) (17,265)
Other income 105,389 98,794 311,359 278,213
Total revenues 1,148,086 952,694 3,393,987 2,841,864
Benefits and expenses        
Benefits and settlement expenses, net of reinsurance ceded: (three months: 2014 - $217,641; 2013 - $204,065; nine months: 2014 - $851,028; 2013 - $882,123) 630,285 624,577 2,106,620 1,764,323
Amortization of deferred policy acquisition costs and value of business acquired 134,918 22,446 242,031 149,631
Other operating expenses, net of reinsurance ceded: (three months: 2014 - $49,196; 2013 - $47,506; nine months: 2014 - $139,507; 2013 - $138,901) 198,000 163,550 573,038 511,149
Total benefits and expenses 963,203 810,573 2,921,689 2,425,103
Income before income tax 184,883 142,121 472,298 416,761
Income tax expense 65,974 49,060 161,773 142,210
Net income $ 118,909 $ 93,061 $ 310,525 $ 274,551
Net income - basic (in dollars per share) $ 1.48 $ 1.17 $ 3.88 $ 3.46
Net income - diluted (in dollars per share) $ 1.46 $ 1.15 $ 3.82 $ 3.39
Cash dividends paid per share (in dollars per share) $ 0.24 $ 0.20 $ 0.68 $ 0.58
Average shares outstanding - basic (in shares) 80,231,591 79,492,274 79,942,018 79,346,771
Average shares outstanding - diluted (in shares) 81,458,870 80,852,078 81,261,249 80,882,552