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Unaudited Interim Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
REVENUES    
Premiums $ 16,579 $ 17,265
Policy charges and fee income 496,869 507,934
Net investment income 123,037 125,069
Asset administration fees and other income 145,133 109,388
Realized investment gains (losses), net (757,691) (1,342,219)
Total revenues 23,927 (582,563)
BENEFITS AND EXPENSES    
Policyholders’ benefits 242,529 7,950
Interest credited to policyholders’ account balances 112,970 10,427
Amortization of deferred policy acquisition costs 429,518 (10,091)
Commission expense 218,074 230,192
General, administrative and other expenses 79,112 58,163
Total benefits and expenses 1,082,203 296,641
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES (1,058,276) (879,204)
Income tax expense (benefit) (237,488) 20,820
NET INCOME (LOSS) (820,788) (900,024)
Other comprehensive income (loss), before tax:    
Foreign currency translation adjustments (483) 100
Net unrealized investment gains (losses) 1,280,088 284,428
Total 1,279,605 284,528
Less: Income tax expense (benefit) related to other comprehensive income (loss)    
Less: Income tax expense (benefit) related to other comprehensive income (loss) 268,717 59,751
Other comprehensive income (loss), net of taxes 1,010,888 224,777
Comprehensive income (loss) $ 190,100 $ (675,247)