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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
1 Months Ended 11 Months Ended 12 Months Ended
Jan. 31, 2015
Dec. 31, 2015
Dec. 31, 2017
Dec. 31, 2016
Revenues        
Premiums and policy fees   $ 2,992,822 $ 3,456,362 $ 3,389,419
Reinsurance ceded   (1,174,871) (1,367,096) (1,330,723)
Net of reinsurance ceded   1,817,951 2,089,266 2,058,696
Net investment income   1,532,796 1,923,056 1,823,463
Realized investment gains (losses):        
Derivative financial instruments   58,436 (137,041) 49,790
All other investments   (166,935) 121,087 90,630
Other-than-temporary impairment losses   (28,659) (1,332) (32,075)
Portion recognized in other comprehensive income (before taxes)   1,666 (7,780) 14,327
Net impairment losses recognized in earnings   (26,993) (9,112) (17,748)
Other income   271,787 325,411 288,878
Total revenues   3,487,042 4,312,667 4,293,709
Benefits and expenses        
Benefits and settlement expenses, net of reinsurance ceded: (Successor 2017 - $1,235,227; 2016 - $1,176,609; 2015 - $1,022,638); (Predecessor 2015 - $87,830)   2,535,388 2,955,005 2,876,726
Amortization of deferred policy acquisition costs and value of business acquired   95,064 79,443 150,298
Other operating expenses, net of reinsurance ceded: (Successor 2017 - $226,578; 2016 - $210,270; 2015 - $196,383); (Predecessor 2015 - $17,700)   602,402 814,211 744,004
Total benefits and expenses   3,232,854 3,848,659 3,771,028
Income before income tax   254,188 464,008 522,681
Income tax (benefit) expense        
Current   46,722 36,565 (38,663)
Deferred   27,769 (754,974) 208,736
Total income tax (benefit) expense   74,491 (718,409) 170,073
Net income   $ 179,697 $ 1,182,417 $ 352,608
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: (Successor 2017 - $1,235,227; 2016 - $1,176,609; 2015 - $1,022,638); (Predecessor 2015 - $87,830) 266,575      
Amortization of deferred policy acquisition costs and value of business acquired 4,817      
Other operating expenses, net of reinsurance ceded: (Successor 2017 - $226,578; 2016 - $210,270; 2015 - $196,383); (Predecessor 2015 - $17,700) 55,407      
Total benefits and expenses 326,799      
Income before income tax 132,847      
Income tax (benefit) expense        
Current (47,384)      
Deferred 91,709      
Total income tax (benefit) expense 44,325      
Net income $ 88,522