XML 18 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues        
Insurance premiums and contract charges earned $ 206,820 $ 198,935 $ 615,428 $ 590,375
Net investment income 99,083 92,320 288,048 275,025
Net investment gains (losses) 2,803 (3,486) 1,884 (1,656)
Other income 2,612 2,048 7,704 4,813
Total revenues 311,318 289,817 913,064 868,557
Benefits, losses and expenses        
Benefits, claims and settlement expenses 161,846 134,895 473,686 444,870
Interest credited 52,124 50,078 153,229 148,200
DAC amortization expense 26,066 24,210 79,357 73,904
Operating expenses 50,989 44,172 149,376 139,156
Interest expense 3,253 2,978 9,717 8,879
Total benefits, losses and expenses 294,278 256,333 865,365 815,009
Income before income taxes 17,040 33,484 47,699 53,548
Income tax expense 4,512 6,933 9,099 9,418
Net income $ 12,528 $ 26,551 $ 38,600 $ 44,130
Net income per share        
Basic (in usd per share) $ 0.30 $ 0.64 $ 0.93 $ 1.07
Diluted (in usd per share) $ 0.30 $ 0.64 $ 0.93 $ 1.06
Weighted average number of shares and equivalent shares        
Basic (in shares) 41,683 41,433 41,586 41,337
Diluted (in shares) 41,850 41,575 41,727 41,467
Net investment gains (losses)        
Total other-than-temporary impairment losses on securities $ (70) $ (6,092) $ (1,357) $ (12,452)
Portion of losses recognized in other comprehensive income (loss) 0 0 0 0
Net other-than-temporary impairment losses on securities recognized in earnings (70) (6,092) (1,357) (12,452)
Sales and other, net (1,331) 2,365 2,661 10,050
Change in fair value - equity securities 2,000 0 (4,342) 0
Change in fair value and gains (losses) realized on settlements - derivative instruments 2,204 241 4,922 746
Net investment gains (losses) $ 2,803 $ (3,486) $ 1,884 $ (1,656)