XML 16 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statement of Operations and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
REVENUES      
Premiums $ 54,706 $ (825,942) $ 77,634
Policy charges and fee income 254,542 787,195 2,156,387
Net investment income 352,410 375,950 416,587
Asset administration fees 17,593 84,443 362,321
Other income 67,749 31,107 55,515
Realized investment gains (losses), net:      
Other-than-temporary impairments on fixed maturity securities (8,374) (18,020) (1,514)
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive income 995 343 51
Other realized investment gains (losses), net (72,807) 776,126 (207,075)
Total realized investment gains (losses), net (80,186) 758,449 (208,538)
Total revenues 666,814 1,211,202 2,859,906
BENEFITS AND EXPENSES      
Policyholders’ benefits (38,380) (260,200) 299,150
Interest credited to policyholders’ account balances 168,391 301,220 374,211
Amortization of deferred policy acquisition costs 95,007 628,101 659,169
General, administrative and other expenses 271,533 220,733 1,030,014
Total benefits and expenses 496,551 889,854 2,362,544
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 170,263 321,348 497,362
Total income tax expense (benefit) (154,654) (73,869) (10,641)
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 324,917 395,217 508,003
Equity in earnings of operating joint venture, net of taxes (485) 0 0
NET INCOME (LOSS) 324,432 395,217 508,003
Other comprehensive income (loss), before tax:      
Foreign currency translation adjustments 259 (8) (507)
Unrealized investment gains (losses) for the period 164,482 74,040 (164,799)
Reclassification adjustment for (gains) losses included in net income (26,998) (64,540) (9,902)
Net unrealized investment gains (losses) 137,484 9,500 (174,701)
Other comprehensive income (loss), before tax 137,743 9,492 (175,208)
Less: Income tax expense (benefit) related to:      
Foreign currency translation adjustments 91 (3) (177)
Net unrealized investment gains (losses) 43,281 3,325 (61,145)
Total 43,372 3,322 (61,322)
Other comprehensive income (loss), net of tax 94,371 6,170 (113,886)
Comprehensive income (loss) $ 418,803 $ 401,387 $ 394,117