XML 15 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUES        
Premiums $ 29,015 $ 20,321 $ (805,162) $ 59,440
Policy charges and fee income 88,479 546,344 673,973 1,615,977
Net investment income 103,743 102,215 287,814 307,121
Asset administration fees 4,004 84,814 80,399 285,866
Other income 15,436 11,714 20,359 43,944
Realized investment gains (losses), net:        
Other-than-temporary impairments on fixed maturity securities 0 (1,099) (16,597) (1,514)
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive income 0 19 338 51
Other realized investment gains (losses), net (9,668) (1,904) 922,204 (113,152)
Total realized investment gains (losses), net (9,668) (2,984) 905,945 (114,615)
TOTAL REVENUES 231,009 762,424 1,163,328 2,197,733
BENEFITS AND EXPENSES        
Policyholders’ benefits 54,496 115,186 (317,384) 233,950
Interest credited to policyholders’ account balances 42,081 156,486 256,488 322,206
Amortization of deferred policy acquisition costs (17,690) 407,298 611,555 695,026
General, administrative and other expenses 103,118 241,744 206,933 774,060
TOTAL BENEFITS AND EXPENSES 182,005 920,714 757,592 2,025,242
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES 49,004 (158,290) 405,736 172,491
Income tax expense (benefit) (38,202) (21,784) (74,946) 12,681
NET INCOME (LOSS) 87,206 (136,506) 480,682 159,810
Other comprehensive income (loss), before tax:        
Foreign currency translation adjustments 31 (53) 153 (391)
Net unrealized investment gains (losses):        
Unrealized investment gains (losses) for the period 11,944 26,697 356,594 (97,212)
Reclassification adjustment for (gains) losses included in net income (loss) 1,517 (5,071) (72,160) (9,115)
Net unrealized investment gains (losses) 13,461 21,626 284,434 (106,327)
Other comprehensive income (loss), before tax 13,492 21,573 284,587 (106,718)
Less: Income tax expense (benefit) related to:        
Foreign currency translation adjustments 12 (19) 54 (137)
Net unrealized investment gains (losses) 4,711 7,368 99,551 (37,214)
Total 4,723 7,349 99,605 (37,351)
Other comprehensive income (loss), net of tax 8,769 14,224 184,982 (69,367)
COMPREHENSIVE INCOME (LOSS) $ 95,975 $ (122,282) $ 665,664 $ 90,443