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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues        
Insurance premiums and contract charges earned $ 182,812 $ 179,030 $ 544,927 $ 533,571
Net investment income 81,016 82,591 248,324 247,040
Net realized investment gains 1,308 3,511 8,789 8,673
Other income 617 388 2,302 2,244
Total revenues 265,753 265,520 804,342 791,528
Benefits, losses and expenses        
Benefits, claims and settlement expenses 121,181 117,443 368,139 356,589
Interest credited 46,216 44,477 136,103 131,294
Policy acquisition expenses amortized 25,709 24,477 73,400 70,027
Operating expenses 39,647 39,875 115,611 119,033
Interest expense 2,652 3,543 9,610 10,635
Total benefits, losses and expenses 235,405 229,815 702,863 687,578
Income before income taxes 30,348 35,705 101,479 103,950
Income tax expense 8,364 10,348 29,037 29,775
Net income $ 21,984 $ 25,357 $ 72,442 $ 74,175
Net income per share        
Basic $ 0.53 $ 0.61 $ 1.73 $ 1.79
Diluted $ 0.52 $ 0.60 $ 1.71 $ 1.76
Weighted average number of shares and equivalent shares (in thousands)        
Basic 41,852 41,514 41,965 41,353
Diluted 42,305 42,319 42,362 42,155
Net realized investment gains (losses)        
Total other-than-temporary impairment losses on securities $ (3,602) $ (185) $ (20,860) $ (637)
Portion of losses recognized in other comprehensive income 0 0 (4,300) 0
Net other-than-temporary impairment losses on securities recognized in earnings (3,602) (185) (16,560) (637)
Realized gains, net 4,910 3,696 25,349 9,310
Total $ 1,308 $ 3,511 $ 8,789 $ 8,673