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Quarterly Results of Operations (Unaudited)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Data [Abstract]  
Quarterly Results of Operations (Unaudited)
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

The unaudited quarterly results of operations for the years ended December 31, 2016 and 2015 are summarized in the table below:

 
Three Months Ended
 
March 31
 
June 30
 
September 30
 
December 31
 
 
 
 
 
 
 
 
2016
(in thousands)
Total revenues
$
201,095

 
$
(892,563
)
 
$
719,985

 
$
(181,460
)
Total benefits and expenses
429,590

 
1,215,062

 
(149,250
)
 
122,236

Income (loss) from operations before income taxes
(228,495
)
 
(2,107,625
)
 
869,235

 
(303,696
)
Net income (loss)
$
(142,665
)
 
$
(1,316,230
)
 
$
569,649

 
$
(200,842
)
2015
 
 
 
 
 
 
 
Total revenues
$
305,682

 
$
279,135

 
$
268,802

 
$
219,952

Total benefits and expenses
331,751

 
122,886

 
388,581

 
65,421

Income (loss) from operations before income taxes
(26,069
)
 
156,249

 
(119,779
)
 
154,531

Net income (loss)
$
(21,302
)
 
$
131,914

 
$
(104,826
)
 
$
167,431



The variability in the quarterly results for 2016 was primarily due to the Variable Annuities Recapture. See Note 1 for additional information.