XML 15 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
REVENUES        
Premiums $ (852,092) $ 23,482 $ (834,177) $ 39,119
Policy charges and fee income 41,848 530,033 569,255 1,070,798
Net investment income 78,619 101,486 184,071 204,906
Asset administration fees 3,604 102,365 76,395 201,052
Other income (8,599) 15,013 4,923 32,230
Realized investment gains (losses), net:        
Other-than-temporary impairments on fixed maturity securities (248) (382) (16,597) (415)
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive income 139 10 338 32
Other realized investment gains (losses), net 860,571 (170,284) 931,872 (111,248)
Total realized investment gains (losses), net 860,462 (170,656) 915,613 (111,631)
TOTAL REVENUES 123,842 601,723 916,080 1,436,474
BENEFITS AND EXPENSES        
Policyholders’ benefits (430,437) 57,266 (331,909) 115,667
Interest credited to policyholders’ account balances 27,976 48,243 214,407 165,720
Amortization of deferred policy acquisition costs (29,866) (13,691) 610,687 289,060
General, administrative and other expenses (133,138) 273,770 103,814 532,316
TOTAL BENEFITS AND EXPENSES (565,465) 365,588 596,999 1,102,763
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES 689,307 236,135 319,081 333,711
Income tax expense (benefit) (5,499) 21,706 (49,594) 35,052
NET INCOME (LOSS) 694,806 214,429 368,675 298,659
Other comprehensive income (loss), before tax:        
Foreign currency translation adjustments (96) 182 121 (338)
Net unrealized investment gains (losses):        
Unrealized investment gains (losses) for the period 182,367 (205,640) 344,649 (123,909)
Reclassification adjustment for (gains) losses included in net income (loss) (88,601) (1,930) (73,677) (4,044)
Net unrealized investment gains (losses) 93,766 (207,570) 270,972 (127,953)
Other comprehensive income (loss), before tax 93,670 (207,388) 271,093 (128,291)
Less: Income tax expense (benefit) related to:        
Foreign currency translation adjustments (34) 64 42 (118)
Net unrealized investment gains (losses) 32,819 (72,448) 94,840 (44,582)
Total 32,785 (72,384) 94,882 (44,700)
Other comprehensive income (loss), net of tax 60,885 (135,004) 176,211 (83,591)
COMPREHENSIVE INCOME (LOSS) $ 755,691 $ 79,425 $ 544,886 $ 215,068