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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
[1]
Sep. 30, 2015
[2]
Sep. 30, 2016
[1]
Sep. 30, 2015
[2]
Revenue:        
Life premium $ 546,415 $ 518,929 $ 1,639,156 $ 1,552,309
Health premium 236,987 229,139 709,936 690,221
Other premium 9 41 34 119
Total premium 783,411 748,109 2,349,126 2,242,649
Net investment income 202,720 193,213 601,415 579,632
Realized gains 3,482 5,140 7,780 7,872
Other income 160 692 963 2,052
Total revenue 989,773 947,154 2,959,284 2,832,205
Benefits and expenses:        
Life policyholder benefits 369,546 342,196 1,101,748 1,029,261
Health policyholder benefits 153,351 149,312 459,387 448,539
Other policyholder benefits 9,255 9,648 27,475 29,447
Total policyholder benefits 532,152 501,156 1,588,610 1,507,247
Amortization of deferred acquisition costs 116,821 111,643 352,872 334,041
Commissions, premium taxes, and non-deferred acquisition costs 61,153 59,918 185,609 176,155
Other operating expense 57,805 56,182 173,080 167,133
Interest expense 20,381 19,246 62,860 57,420
Total benefits and expenses 788,312 748,145 2,363,031 2,241,996
Income before income taxes 201,461 199,009 596,253 590,209
Income taxes (59,551) (65,151) (181,475) (193,046)
Income from continuing operations 141,910 133,858 414,778 397,163
Discontinued operations:        
Income (loss) from discontinued operations, net of tax 9,959 11,528 (447) (3,019)
Net income $ 151,869 $ 145,386 $ 414,331 $ 394,144
Basic net income per share:        
Continuing operations (in dollars per share) $ 1.19 $ 1.08 $ 3.44 $ 3.16
Discontinued operations (in dollars per share) 0.08 0.09 0.00 (0.03)
Total basic net income per common share (in dollars per share) 1.27 1.17 3.44 3.13
Diluted net income per share:        
Continuing operations (in dollars per share) 1.16 1.06 3.38 3.12
Discontinued operations (in dollars per share) 0.09 0.09 0.00 (0.03)
Total diluted net income per common share (in dollars per share) 1.25 1.15 3.38 3.09
Dividends declared per common share (in dollars per share) $ 0.14 $ 0.14 $ 0.42 $ 0.41
[1] Due to the adoption of ASU 2016-09, certain balances related to excess tax benefits from stock compensation were adjusted prospectively as described in Note 2—New Accounting Standards.
[2] Certain prior year balances were adjusted to give effect to discontinued operations as described in Note 5—Discontinued Operations.