XML 22 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues        
Insurance premiums and contract charges earned $ 195,718 $ 188,360 $ 391,440 $ 373,810
Net investment income 91,994 91,179 182,705 175,838
Net realized investment gains 2,072 3,080 1,830 2,926
Other income 1,652 939 2,765 2,287
Total revenues 291,436 283,558 578,740 554,861
Benefits, losses and expenses        
Benefits, claims and settlement expenses 165,879 148,408 309,975 267,921
Interest credited 49,348 47,576 98,122 94,266
Policy acquisition expenses amortized 24,808 24,587 49,694 48,639
Operating expenses 46,228 43,345 94,984 86,141
Interest expense 2,945 2,948 5,901 5,883
Total benefits, losses and expenses 289,208 266,864 558,676 502,850
Income before income taxes 2,228 16,694 20,064 52,011
Income tax (benefit) expense (33) 4,828 2,485 14,992
Net income $ 2,261 $ 11,866 $ 17,579 $ 37,019
Net income per share        
Basic (in usd per share) $ 0.05 $ 0.29 $ 0.43 $ 0.90
Diluted (in usd per share) $ 0.05 $ 0.29 $ 0.42 $ 0.89
Weighted average number of shares and equivalent shares (in thousands)        
Basic (in shares) 41,368 41,082 41,268 41,200
Diluted (in shares) 41,493 41,314 41,416 41,416
Net realized investment gains (losses)        
Total other-than-temporary impairment losses on securities $ (3,564) $ (3,853) $ (6,361) $ (7,526)
Portion of losses recognized in other comprehensive income 0 (290) 0 (290)
Net other-than-temporary impairment losses on securities recognized in earnings (3,564) (3,563) (6,361) (7,236)
Realized investment gains, net 5,636 6,643 8,191 10,162
Total $ 2,072 $ 3,080 $ 1,830 $ 2,926