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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 5 Months Ended 6 Months Ended
Jan. 31, 2015
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2015
Jun. 30, 2016
Successor          
Revenues          
Premiums and policy fees   $ 853,351 $ 828,058 $ 1,334,444 $ 1,701,720
Reinsurance ceded   (340,594) (351,196) (498,009) (655,468)
Net of reinsurance ceded   512,757 476,862 836,435 1,046,252
Net investment income   458,783 408,147 680,358 907,012
Realized investment gains (losses):          
Derivative financial instruments   43,548 10,566 5,618 75,456
All other investments   88,783 (102,347) (137,403) 170,492
Other-than-temporary impairment losses   (5,527) (13,395) (13,395) (8,296)
Portion recognized in other comprehensive income (before taxes)   4,560 7,661 7,661 4,712
Net impairment losses recognized in earnings   (967) (5,734) (5,734) (3,584)
Other income   71,938 75,459 124,640 139,116
Total revenues   1,174,842 862,953 1,503,914 2,334,744
Benefits and expenses          
Benefits and settlement expenses, net of reinsurance ceded: (three and six months 2016 Successor - $274,911 and $574,179); (2015 Successor - $303,055 and $419,941); (2015 Predecessor - $87,830)   712,647 693,392 1,178,816 1,425,668
Amortization of deferred policy acquisition costs and value of business acquired   21,064 40,348 68,384 52,105
Other operating expenses, net of reinsurance ceded: (three and six months 2016 Successor - $51,664 and $100,890); (2015 Successor - $51,146 and $86,839); (2015 Predecessor - $17,700)   180,551 164,780 267,745 361,412
Total benefits and expenses   914,262 898,520 1,514,945 1,839,185
Income (loss) before income tax   260,580 (35,567) (11,031) 495,559
Income tax expense (benefit)   87,787 (9,991) (1,875) 164,149
Net income (loss)   $ 172,793 $ (25,576) $ (9,156) $ 331,410
Predecessor          
Revenues          
Premiums and policy fees $ 260,582        
Reinsurance ceded (91,632)        
Net of reinsurance ceded 168,950        
Net investment income 164,605        
Realized investment gains (losses):          
Derivative financial instruments 22,031        
All other investments 81,153        
Other-than-temporary impairment losses (636)        
Portion recognized in other comprehensive income (before taxes) 155        
Net impairment losses recognized in earnings (481)        
Other income 23,388        
Total revenues 459,646        
Benefits and expenses          
Benefits and settlement expenses, net of reinsurance ceded: (three and six months 2016 Successor - $274,911 and $574,179); (2015 Successor - $303,055 and $419,941); (2015 Predecessor - $87,830) 266,575        
Amortization of deferred policy acquisition costs and value of business acquired 4,817        
Other operating expenses, net of reinsurance ceded: (three and six months 2016 Successor - $51,664 and $100,890); (2015 Successor - $51,146 and $86,839); (2015 Predecessor - $17,700) 55,407        
Total benefits and expenses 326,799        
Income (loss) before income tax 132,847        
Income tax expense (benefit) 44,325        
Net income (loss) $ 88,522