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INDEPENDENCE HOLDING COMPANY CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUES:        
Premiums earned $ 119,038 $ 117,705 $ 361,595 $ 362,110
Net investment income 3,938 5,439 13,884 16,674
Fee income 2,826 4,813 11,029 18,013
Other income 5,792 951 8,356 3,132
Gain on sale of subsidiary to joint venture 10,161   10,161  
Net realized investment gains (1,109) 844 2,991 6,914
Other-than-temporary impairment losses:        
Total other-than-temporary impairment losses (228)   (228)  
Net impairment losses recognized in earnings (228)   (228)  
TOTAL REVENUES 140,418 129,752 407,788 406,843
EXPENSES:        
Insurance benefits, claims and reserves 74,218 74,916 233,218 243,488
Selling, general and administrative expenses 41,984 44,916 129,835 137,998
Amortization of deferred acquisition costs 558 1,416 3,446 3,887
Interest expense on debt 444 539 1,354 1,357
TOTAL EXPENSES 117,204 121,787 367,853 386,730
Income (loss) before income taxes 23,214 7,965 39,935 20,113
Income taxes (benefits) 8,326 3,141 14,560 7,404
Net income (loss) 14,888 4,824 25,375 12,709
(Income) loss from noncontrolling interests in subsidiaries (128) (114) (364) (450)
NET INCOME (LOSS) ATTRIBUTABLE TO IHC $ 14,760 $ 4,710 $ 25,011 $ 12,259
Basic income (loss) per common share $ 0.85 $ 0.27 $ 1.44 $ 0.70
WEIGHTED AVERAGE SHARES OUTSTANDING 17,292 17,410 17,331 17,505
Diluted income (loss) per common share $ 0.85 $ 0.27 $ 1.43 $ 0.69
WEIGHTED AVERAGE DILUTED SHARES OUTSTANDING 17,457 17,578 17,496 17,665