XML 260 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues      
Insurance premiums and contract charges earned $ 817,333 $ 794,703 $ 759,146
Net investment income 376,507 373,630 361,186
Net investment gains (losses) (12,543) (3,406) 4,123
Other income 10,302 6,623 4,455
Total revenues 1,191,599 1,171,550 1,128,910
Benefits, losses and expenses      
Benefits, claims and settlement expenses 637,560 582,306 541,004
Interest credited 206,199 198,635 192,022
DAC amortization expense 109,889 102,185 96,732
Operating expenses 205,413 187,789 173,112
Interest expense 13,001 11,948 11,808
Total benefits, losses and expenses 1,172,062 1,082,863 1,014,678
Income before income taxes 19,537 88,687 114,232
Income tax expense (benefit) 1,194 (80,772) 30,467
Net income $ 18,343 $ 169,459 $ 83,765
Net income per share      
Basic (in usd per share) $ 0.44 $ 4.10 $ 2.04
Diluted (in usd per share) $ 0.44 $ 4.08 $ 2.02
Weighted average number of shares and equivalent shares      
Basic (in shares) 41,570,492 41,364,546 41,158,349
Diluted (in shares) 41,894,232 41,564,979 41,475,516
Net investment gains (losses)      
Total other-than-temporary impairment losses on securities $ (1,530) $ (12,620) $ (11,401)
Portion of losses recognized in other comprehensive income (loss) 0 0 (290)
Net other-than-temporary impairment losses on securities recognized in earnings (1,530) (12,620) (11,111)
Sales and other, net 3,491 7,756 16,286
Change in fair value - equity securities (18,323) 0 0
Change in fair value and gains realized on settlements - derivative instruments 3,819 1,458 (1,052)
Total $ (12,543) $ (3,406) $ 4,123