MONY CLOSED BLOCK OF BUSINESS (Tables)

3 Months Ended

Mar. 31, 2016

Summary of Financial Information of the Policyholder Dividend Obligation

Summarized financial information for the Closed Block as of March 31, 2016 (Successor Company) and December 31, 2015 (Successor Company) is as follows:



	Successor Company
	As of March 31, 2016		As of December 31, 2015
	(Dollars In Thousands)
Closed block liabilities
Future policy benefits, policyholders’ account balances and other policyholder liabilities	$	5,973,811	$	6,010,520
Policyholder dividend obligation	96,508		—
Other liabilities	98,312		22,917
Total closed block liabilities	6,168,631		6,033,437
Closed block assets
Fixed maturities, available-for-sale, at fair value	$	4,518,308	$	4,426,090
Equity securities, available-for-sale, at fair value	—		—
Mortgage loans on real estate	246,596		247,162
Policy loans	739,428		746,102
Cash and other invested assets	117,966		34,420
Other assets	155,317		166,445
Total closed block assets	5,777,615		5,620,219
Excess of reported closed block liabilities over closed block assets	391,016		413,218
Portion of above representing accumulated other comprehensive income:
Net unrealized investment gains (losses) net of policyholder dividend obligation of $(103,908) (Successor) and $(179,360) (Successor)	—		(18,597		)
Future earnings to be recognized from closed block assets and closed block liabilities	$	391,016	$	394,621

Schedule of Reconciliation of the Policyholder Dividend Obligation

Reconciliation of the policyholder dividend obligation is as follows:



	Successor Company						Predecessor Company
	For The Three Months Ended March 31, 2016			February 1, 2015 to March 31, 2015			January 1, 2015 to January 31, 2015
	(Dollars In Thousands)						(Dollars In Thousands)
Policyholder dividend obligation, beginning of period	$	—		$	323,432		$	366,745
Applicable to net revenue (losses)	(19,572		)	(12,855		)	(1,369		)
Change in net unrealized investment gains (losses) allocated to the policyholder dividend obligation; includes deferred tax benefits of $55,951 (Successor); $20,692 (2015 - Successor); $47,277 (2015 - Predecessor)	116,080			(59,119		)	135,077
Policyholder dividend obligation, end of period	$	96,508		$	251,458		$	500,453

Schedule of Closed Block Revenues and Expenses

Closed Block revenues and expenses were as follows:



	Successor Company				Predecessor Company
	For The Three Months Ended March 31, 2016		February 1, 2015 to March 31, 2015		January 1, 2015 to January 31, 2015
	(Dollars In Thousands)				(Dollars In Thousands)
Revenues
Premiums and other income	$	43,919	$	31,460	$	15,065
Net investment income	50,867		32,848		19,107
Net investment gains	187		634		568
Total revenues	94,973		64,942		34,740
Benefits and other deductions
Benefits and settlement expenses	80,055		55,771		31,152
Other operating expenses	1,025		—		—
Total benefits and other deductions	81,080		55,771		31,152
Net revenues before income taxes	13,893		9,171		3,588
Income tax expense	4,863		3,210		1,256
Net revenues	$	9,030	$	5,961	$	2,332