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Unaudited Interim Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
REVENUES    
Premiums $ 15,762 $ 16,579
Policy charges and fee income 507,583 496,869
Net investment income 139,259 123,037
Asset management and service fees [1] 103,521 97,850
Other income (loss) [1] (773,292) 47,283
Realized investment gains (losses), net 3,129,136 (757,691)
TOTAL REVENUES 3,121,969 23,927
BENEFITS AND EXPENSES    
Policyholders’ benefits 29,628 242,529
Interest credited to policyholders’ account balances 147,910 112,970
Amortization of deferred policy acquisition costs 342,576 429,518
Commission expense 165,315 218,074
General, administrative and other expenses 52,776 79,112
TOTAL BENEFITS AND EXPENSES 738,205 1,082,203
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES 2,383,764 (1,058,276)
Income tax expense (benefit) 493,951 (237,488)
NET INCOME (LOSS) 1,889,813 (820,788)
Other comprehensive income (loss), before tax:    
Foreign currency translation adjustments 49 (483)
Net unrealized investment gains (losses) (1,788,524) 1,280,088
Total (1,788,475) 1,279,605
Less: Income tax expense (benefit) related to other comprehensive income (loss)    
Less: Income tax expense (benefit) related to other comprehensive income (loss) (375,580) 268,717
Other comprehensive income (loss), net of taxes (1,412,895) 1,010,888
Comprehensive income (loss) $ 476,918 $ 190,100
[1] Prior period amounts have been reclassified to conform to current period presentation.