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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenues    
Insurance premiums and contract charges earned $ 209,785 $ 202,998
Net investment income 92,800 91,864
Net investment gains (losses) 7,417 (1,654)
Other income 3,211 2,281
Total revenues 313,213 295,489
Benefits, losses and expenses    
Benefits, claims and settlement expenses 139,384 143,562
Interest credited 52,922 50,035
DAC amortization expense 24,973 26,705
Operating expenses 54,053 48,169
Interest expense 3,303 3,172
Total benefits, losses and expenses 274,635 271,643
Income before income taxes 38,578 23,846
Income tax expense 6,412 3,691
Net income $ 32,166 $ 20,155
Net income per share    
Basic (in usd per share) $ 0.77 $ 0.49
Diluted (in usd per share) $ 0.77 $ 0.48
Weighted average number of shares and equivalent shares    
Basic (in shares) 41,610 41,497
Diluted (in shares) 41,785 41,653
Net investment gains (losses)    
Total other-than-temporary impairment losses on securities $ (236) $ (110)
Portion of losses recognized in other comprehensive income (loss) 0 0
Net other-than-temporary impairment losses on securities recognized in earnings (236) (110)
Sales and other, net 4,838 2,203
Change in fair value - equity securities 3,506 (5,186)
Change in fair value and gains (losses) realized on settlements - derivative instruments (691) 1,439
Net investment gains (losses) $ 7,417 $ (1,654)