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Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
REVENUES        
Premiums $ 15,124 $ 29,015 $ 37,958 $ (805,162)
Policy charges and fee income 126,709 88,479 122,186 673,973
Net investment income 86,522 103,743 267,178 287,814
Asset administration fees 4,555 4,004 13,132 80,399
Other income 18,020 15,436 48,145 20,359
Realized investment gains (losses), net:        
Other-than-temporary impairments on fixed maturity securities (143) 0 (6,034) (16,597)
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive income 0 0 366 338
Other realized investment gains (losses), net (275,043) (9,668) (25,507) 922,204
Total realized investment gains (losses), net (275,186) (9,668) (31,175) 905,945
TOTAL REVENUES (24,256) 231,009 457,424 1,163,328
BENEFITS AND EXPENSES        
Policyholders’ benefits 54,637 54,496 (77,893) (317,384)
Interest credited to policyholders’ account balances 38,196 42,081 128,923 256,488
Amortization of deferred policy acquisition costs 19,313 (17,690) 76,768 611,555
General, administrative and other expenses 81,543 103,118 187,947 206,933
TOTAL BENEFITS AND EXPENSES 193,689 182,005 315,745 757,592
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES (217,945) 49,004 141,679 405,736
Income tax expense (benefit)(1) [1] (39,449) (35,893) (69,061) (74,946)
NET INCOME (LOSS)(1) [1] (178,496) 84,897 210,740 480,682
Other comprehensive income (loss), before tax:        
Foreign currency translation adjustments 75 31 224 153
Net unrealized investment gains (losses):        
Unrealized investment gains (losses) for the period 18,589 11,944 147,980 356,594
Reclassification adjustment for (gains) losses included in net income (loss) (28,594) 1,517 (28,669) (72,160)
Net unrealized investment gains (losses) (10,005) 13,461 119,311 284,434
Other comprehensive income (loss), before tax (9,930) 13,492 119,535 284,587
Less: Income tax expense (benefit) related to:        
Foreign currency translation adjustments 26 12 78 54
Net unrealized investment gains (losses) (3,501) 4,711 41,759 99,551
Total (3,475) 4,723 41,837 99,605
Other comprehensive income (loss), net of tax (6,455) 8,769 77,698 184,982
COMPREHENSIVE INCOME (LOSS)(1) [1] $ (184,951) $ 93,666 $ 288,438 $ 665,664
[1] Prior period amounts for the three months ended September 30, 2016 have been revised to reflect a corrected tax expense amount.