XML 19 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues      
Net premiums $ 10,543,776 $ 9,841,130 $ 9,248,871
Investment income, net of related expenses 2,138,525 2,154,651 1,911,886
Investment related gains (losses), net:      
Other-than-temporary impairments on fixed maturity securities (28,494) (42,639) (38,805)
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive income 0 0 74
Other investment related gains (losses), net (141,594) 210,519 132,926
Total investment related gains (losses), net (170,088) 167,880 94,195
Other revenues 363,451 352,108 266,559
Total revenues 12,875,664 12,515,769 11,521,511
Benefits and expenses      
Claims and other policy benefits 9,318,929 8,518,917 7,993,375
Interest credited 425,204 502,040 364,691
Policy acquisition costs and other insurance expenses 1,322,520 1,466,646 1,310,540
Other operating expenses 786,137 710,690 645,509
Interest expense 147,355 146,025 137,623
Collateral finance and securitization expense 29,699 28,636 25,827
Total benefits and expenses 12,029,844 11,372,954 10,477,565
Income before income taxes 845,820 1,142,815 1,043,946
Provision for income taxes 129,978 (679,366) 342,503
Net income $ 715,842 $ 1,822,181 $ 701,443
Earnings per share      
Basic earnings per share (in dollars per share) $ 11.25 $ 28.28 $ 10.91
Diluted earnings per share (in dollars per share) $ 11.00 $ 27.71 $ 10.79