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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 8 Months Ended 9 Months Ended
Jan. 31, 2015
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues          
Premiums and policy fees   $ 797,741   $ 2,138,837  
Reinsurance ceded   (306,774)   (793,419)  
Net of reinsurance ceded   490,967   1,345,418  
Net investment income   440,620   1,165,783  
Realized investment gains (losses):          
Derivative financial instruments   (74,590)   53,654  
All other investments   5,348   (132,045)  
Other-than-temporary impairment losses   (14,906)   (28,301)  
Portion recognized in other comprehensive income (before taxes)   4,842   12,503  
Net impairment losses recognized in earnings   (10,064)   (15,798)  
Other income   108,312   284,669  
Total revenues   960,593   2,701,681  
Benefits and expenses          
Benefits and settlement expenses, net of reinsurance ceded: (2015 Successor - $266,287 and $687,238); (2015 Predecessor - $87,674; 2014 Predecessor - three months: $217,641; nine months: $851,028)   676,181   1,857,086  
Amortization of deferred policy acquisition costs and value of business acquired   8,722   76,713  
Other operating expenses, net of reinsurance ceded: (2015 Successor - $49,717 and $134,494); (2015 Predecessor - $35,036; 2014 Predecessor - three months: $49,196; nine months: $139,507)   188,430   490,885  
Total benefits and expenses   873,333   2,424,684  
Income before income tax   87,260   276,997  
Income tax expense (benefit)   26,853   89,889  
Net Income   $ 60,407   $ 187,108  
Predecessor          
Revenues          
Premiums and policy fees $ 261,866   $ 759,038   $ 2,426,736
Reinsurance ceded (89,956)   (277,136)   (947,817)
Net of reinsurance ceded 171,910   481,902   1,478,919
Net investment income 175,180   558,174   1,647,153
Realized investment gains (losses):          
Derivative financial instruments (123,274)   3,781   (191,495)
All other investments 81,153   1,194   153,456
Other-than-temporary impairment losses (636)   (1,142)   (2,026)
Portion recognized in other comprehensive income (before taxes) 155   (1,212)   (3,379)
Net impairment losses recognized in earnings (481)   (2,354)   (5,405)
Other income 36,421   105,389   311,359
Total revenues 340,909   1,148,086   3,393,987
Benefits and expenses          
Benefits and settlement expenses, net of reinsurance ceded: (2015 Successor - $266,287 and $687,238); (2015 Predecessor - $87,674; 2014 Predecessor - three months: $217,641; nine months: $851,028) 267,287   630,285   2,106,620
Amortization of deferred policy acquisition costs and value of business acquired 4,072   134,918   242,031
Other operating expenses, net of reinsurance ceded: (2015 Successor - $49,717 and $134,494); (2015 Predecessor - $35,036; 2014 Predecessor - three months: $49,196; nine months: $139,507) 68,368   198,000   573,038
Total benefits and expenses 339,727   963,203   2,921,689
Income before income tax 1,182   184,883   472,298
Income tax expense (benefit) (327)   65,974   161,773
Net Income $ 1,509   $ 118,909   $ 310,525
Net income - basic (in dollars per share) $ 0.02   $ 1.48   $ 3.88
Net income - diluted (in dollars per share) $ 0.02   1.46   3.82
Cash dividends paid per share (in dollars per share)     $ 0.24   $ 0.68
Average shares outstanding - basic (in shares) 80,452,848   80,231,591   79,942,018
Average shares outstanding - diluted (in shares) 81,759,287   81,458,870   81,261,249