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Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUES        
Premiums $ 57,421 $ 44,862 $ 131,666 $ 89,267
Policy charges and fee income 625,812 180,200 817,374 332,065
Net investment income 192,128 95,300 371,428 194,167
Asset administration fees 71,790 6,276 151,022 12,487
Other income (loss) (312,016) 25,630 (639,620) 43,874
Realized investment gains (losses), net 714,709 (122,502) 1,498,816 (45,894)
TOTAL REVENUES 1,349,844 229,766 2,330,686 625,966
BENEFITS AND EXPENSES        
Policyholders’ benefits 158,106 78,076 377,870 171,989
Interest credited to policyholders’ account balances 122,944 47,400 286,470 103,570
Amortization of deferred policy acquisition costs 276,173 35,115 635,720 86,955
General, administrative and other expenses 286,447 95,444 554,144 231,640
TOTAL BENEFITS AND EXPENSES 843,670 256,035 1,854,204 594,154
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest, Total 506,174 (26,269) 476,482 31,812
Income tax expense (benefit) 75,774 6,993 71,073 (38,316)
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 430,400 (33,262) 405,409 70,128
Equity in earnings of operating joint venture, net of taxes (75,162) 168 (75,158) 155
NET INCOME (LOSS) 355,238 (33,094) 330,251 70,283
Other comprehensive income (loss), before tax:        
Foreign currency translation adjustments (6,200) 424 (7,870) (4,781)
Net unrealized investment gains (losses) (897,661) 215,967 (1,913,659) (134,235)
Total (903,861) 216,391 (1,921,529) (139,016)
Less: Income tax expense (benefit) related to other comprehensive income (loss) (189,054) 45,396 (402,512) (28,335)
Other comprehensive income (loss), net of taxes (714,807) 170,995 (1,519,017) (110,681)
Comprehensive income (loss) $ (359,569) $ 137,901 $ (1,188,766) $ (40,398)