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Unaudited Interim Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
REVENUES        
Premiums $ 13,679 $ 12,505 $ 48,008 $ 48,666
Policy charges and fee income 550,592 555,907 1,653,225 1,646,310
Net investment income 103,164 107,953 300,035 314,310
Asset administration fees and other income 93,320 102,713 291,460 307,384
Realized investment gains (losses), net:        
Other-than-temporary impairments on fixed maturity securities (2,523) 41 (2,960) (4,692)
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive income (loss) 0 0 0 (95)
Other realized investment gains (losses), net 67,796 1,170,036 636,782 (322,725)
Total realized investment gains (losses), net 65,273 1,170,077 633,822 (327,512)
Total revenues 826,028 1,949,155 2,926,550 1,989,158
BENEFITS AND EXPENSES        
Policyholders’ benefits 49,931 14,056 113,624 80,251
Interest credited to policyholders’ account balances 82,313 90,499 213,903 567
Amortization of deferred policy acquisition costs 190,632 260,194 514,457 (45,981)
Commission expense 192,951 203,619 644,628 640,612
General, administrative and other expenses 46,038 28,874 132,199 143,492
Total benefits and expenses 561,865 597,242 1,618,811 818,941
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES 264,163 1,351,913 1,307,739 1,170,217
Income tax expense (benefit) (148,073) 412,987 57,278 369,516
NET INCOME (LOSS) 412,236 938,926 1,250,461 800,701
Other comprehensive income (loss), before tax:        
Foreign currency translation adjustments (64) 31 (1,192) 95
Net unrealized investment gains (losses) (149,116) (7,962) (383,434) 227,398
Total (149,180) (7,931) (384,626) 227,493
Less: Income tax expense (benefit) related to other comprehensive income (loss)        
Less: Income tax expense (benefit) related to other comprehensive income (loss) (31,328) (2,776) (80,773) 79,622
Other comprehensive income (loss), net of tax (117,852) (5,155) (303,853) 147,871
Comprehensive income (loss) $ 294,384 $ 933,771 $ 946,608 $ 948,572