XML 105 R4.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statement of Operations and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
REVENUES      
Premiums $ 28,544 $ 50,808 $ 54,706
Policy charges and fee income 544,156 533,327 275,693
Net investment income 393,797 325,287 352,410
Asset administration fees 16,056 14,368 17,593
Other income 83,560 72,964 67,749
Realized investment gains (losses), net:      
Other-than-temporary impairments on fixed maturity securities (8,655) (3,710) (8,374)
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive income (379) 0 995
Other realized investment gains (losses), net (107,715) (163,568) (72,807)
Total realized investment gains (losses), net (116,749) (167,278) (80,186)
TOTAL REVENUES 949,364 829,476 687,965
BENEFITS AND EXPENSES      
Policyholders’ benefits 153,074 149,499 (18,416)
Interest credited to policyholders’ account balances 187,229 171,993 168,391
Amortization of deferred policy acquisition costs 113,318 135,826 95,007
General, administrative and other expenses 336,959 314,371 271,533
TOTAL BENEFITS AND EXPENSES 790,580 771,689 516,515
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 158,784 57,787 171,450
Income tax expense (benefit) (59,132) (52,641) (156,828)
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 217,916 110,428 328,278
Equity in earnings of operating joint venture, net of taxes (917) (1,790) (485)
NET INCOME (LOSS) 216,999 108,638 327,793
Other comprehensive income (loss), before tax:      
Foreign currency translation adjustments 9,572 (17,745) 259
Net unrealized investment gains (losses) 381,447 (259,981) 137,484
Total 391,019 (277,726) 137,743
Less: Income tax expense (benefit) related to other comprehensive income (loss) 81,281 (55,174) 43,372
Other comprehensive income (loss), net of tax 309,738 (222,552) 94,371
Comprehensive income (loss) $ 526,737 $ (113,914) $ 422,164