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Unaudited Interim Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
REVENUES    
Premiums $ 7,551 $ 15,762
Policy charges and fee income 96,844 507,583
Net investment income 99,058 139,259
Asset management and service fees 20,341 103,521
Other income (loss) (19,401) (773,292)
Realized investment gains (losses), net 480,925 3,129,136
TOTAL REVENUES 685,318 3,121,969
BENEFITS AND EXPENSES    
Policyholders’ benefits 26,254 29,628
Interest credited to policyholders’ account balances 84,643 147,910
Amortization of deferred policy acquisition costs 103,953 342,576
Commission expense 34,942 165,315
General, administrative and other expenses 3,025 52,776
TOTAL BENEFITS AND EXPENSES 252,817 738,205
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES 432,501 2,383,764
Income tax expense (benefit) 76,575 493,951
NET INCOME (LOSS) 355,926 1,889,813
Other comprehensive income (loss), before tax:    
Foreign currency translation adjustments 25 49
Net unrealized investment gains (losses) (560,580) (1,788,524)
Total (560,555) (1,788,475)
Less: Income tax expense (benefit) related to other comprehensive income (loss)    
Less: Income tax expense (benefit) related to other comprehensive income (loss) (117,717) (375,580)
Other comprehensive income (loss), net of taxes (442,838) (1,412,895)
Comprehensive income (loss) $ (86,912) $ 476,918