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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Revenues    
Insurance premiums and contract charges earned $ 202,998 $ 195,722
Net investment income 91,864 90,711
Net investment losses (1,654) (242)
Other income 2,281 1,113
Total revenues 295,489 287,304
Benefits, losses and expenses    
Benefits, claims and settlement expenses 143,562 144,096
Interest credited 50,035 48,774
DAC amortization expense 26,705 24,886
Operating expenses 48,169 48,756
Interest expense 3,172 2,956
Total benefits, losses and expenses 271,643 269,468
Income before income taxes 23,846 17,836
Income tax expense 3,691 2,518
Net income $ 20,155 $ 15,318
Net income per share    
Basic (in usd per share) $ 0.49 $ 0.37
Diluted (in usd per share) $ 0.48 $ 0.37
Weighted average number of shares and equivalent shares    
Basic (in shares) 41,497 41,135
Diluted (in shares) 41,653 41,342
Net investment losses    
Total other-than-temporary impairment losses on securities $ (110) $ (2,797)
Portion of losses recognized in other comprehensive income 0 0
Net other-than-temporary impairment losses on securities recognized in earnings 0 (1,777)
Net other-than-temporary impairment losses on securities recognized in earnings (110) (2,797)
Sales and other 2,203 2,484
Change in fair value - equity securities (1) (5,186) 0
Change in fair value and gains (losses) realized on settlements - derivative instruments 1,439 71
Net investment losses $ (1,654) $ (242)