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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues        
Insurance premiums and contract charges earned $ 182,376 $ 179,138 $ 362,115 $ 354,541
Net investment income 83,995 81,405 167,308 164,449
Net realized investment gains 1,413 3,463 7,481 5,162
Other income 686 737 1,685 1,856
Total revenues 268,470 264,743 538,589 526,008
Benefits, losses and expenses        
Benefits, claims and settlement expenses 132,939 127,158 246,958 239,146
Interest credited 45,350 43,730 89,887 86,817
Policy acquisition expenses amortized 24,007 22,517 47,691 45,550
Operating expenses 40,036 39,211 75,964 79,158
Interest expense 3,406 3,546 6,958 7,092
Total benefits, losses and expenses 245,738 236,162 467,458 457,763
Income before income taxes 22,732 28,581 71,131 68,245
Income tax expense 6,549 8,129 20,673 19,427
Net income $ 16,183 $ 20,452 $ 50,458 $ 48,818
Net income per share        
Basic $ 0.39 $ 0.49 $ 1.20 $ 1.18
Diluted $ 0.38 $ 0.48 $ 1.19 $ 1.16
Weighted average number of shares and equivalent shares (in thousands)        
Basic 41,990 41,432 42,001 41,343
Diluted 42,425 42,310 42,366 42,213
Net realized investment gains (losses)        
Total other-than-temporary impairment losses on securities $ (14,969) $ (452) $ (17,258) $ (452)
Portion of losses recognized in other comprehensive income (4,300) 0 (4,300) 0
Net other-than-temporary impairment losses on securities recognized in earnings (10,669) (452) (12,958) (452)
Realized gains, net 12,082 3,915 20,439 5,614
Total $ 1,413 $ 3,463 $ 7,481 $ 5,162