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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 5 Months Ended 6 Months Ended
Jan. 31, 2015
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues          
Premiums and policy fees   $ 832,088   $ 1,341,096  
Reinsurance ceded   (345,244)   (486,645)  
Net of reinsurance ceded   486,844   854,451  
Net investment income   436,291   725,163  
Realized investment gains (losses):          
Derivative financial instruments   94,603   128,244  
All other investments   (102,337)   (137,393)  
Other-than-temporary impairment losses   (13,395)   (13,395)  
Portion recognized in other comprehensive income (before taxes)   7,661   7,661  
Net impairment losses recognized in earnings   (5,734)   (5,734)  
Other income   109,094   176,357  
Total revenues   1,018,761   1,741,088  
Benefits and expenses          
Benefits and settlement expenses, net of reinsurance ceded: (2015 Successor - $303,743 and $420,951); (2015 Predecessor - $87,674; 2014 Predecessor - three months: $328,555; six months: $633,387)   694,606   1,180,905  
Amortization of deferred policy acquisition costs and value of business acquired   40,094   67,991  
Other operating expenses, net of reinsurance ceded: (2015 Successor - $49,741 and $84,777); (2015 Predecessor - $35,036; 2014 Predecessor - three months: $46,545; six months: $90,311)   187,151   302,455  
Total benefits and expenses   921,851   1,551,351  
Income before income tax   96,910   189,737  
Income tax expense (benefit)   33,070   63,036  
Net Income   $ 63,840   $ 126,701  
Predecessor          
Revenues          
Premiums and policy fees $ 261,866   $ 851,802   $ 1,667,698
Reinsurance ceded (89,956)   (342,968)   (670,681)
Net of reinsurance ceded 171,910   508,834   997,017
Net investment income 175,180   550,816   1,088,979
Realized investment gains (losses):          
Derivative financial instruments (123,274)   (89,926)   (195,276)
All other investments 81,153   80,148   152,262
Other-than-temporary impairment losses (636)   (461)   (884)
Portion recognized in other comprehensive income (before taxes) 155   (999)   (2,167)
Net impairment losses recognized in earnings (481)   (1,460)   (3,051)
Other income 36,421   106,931   205,970
Total revenues 340,909   1,155,343   2,245,901
Benefits and expenses          
Benefits and settlement expenses, net of reinsurance ceded: (2015 Successor - $303,743 and $420,951); (2015 Predecessor - $87,674; 2014 Predecessor - three months: $328,555; six months: $633,387) 267,287   747,816   1,476,335
Amortization of deferred policy acquisition costs and value of business acquired 4,072   51,531   107,113
Other operating expenses, net of reinsurance ceded: (2015 Successor - $49,741 and $84,777); (2015 Predecessor - $35,036; 2014 Predecessor - three months: $46,545; six months: $90,311) 68,368   193,786   375,038
Total benefits and expenses 339,727   993,133   1,958,486
Income before income tax 1,182   162,210   287,415
Income tax expense (benefit) (327)   54,233   95,799
Net Income $ 1,509   $ 107,977   $ 191,616
Net income - basic (in dollars per share) $ 0.02   $ 1.35   $ 2.40
Net income - diluted (in dollars per share) $ 0.02   1.33   2.36
Cash dividends paid per share (in dollars per share)     $ 0.24   $ 0.44
Average shares outstanding - basic (in shares) 80,452,848   79,979,153   79,794,831
Average shares outstanding - diluted (in shares) 81,759,287   81,446,277   81,160,800