XML 17 R4.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements of Income - Unaudited - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Direct premiums $ 808,894 $ 780,299 $ 1,607,560 $ 1,542,526
Ceded premiums (419,048) (413,850) (818,933) (809,822)
Net premiums 389,846 366,449 788,627 732,704
Commissions and fees 240,688 250,688 492,489 484,733
Investment income net of investment expenses 37,099 36,030 71,519 71,230
Interest expense on surplus note (15,815) (15,495) (31,330) (30,642)
Net investment income 21,284 20,535 40,189 40,588
Realized investment gains (losses) 56 1,409 632 2,031
Other investment gains (losses) (1,948) (708) (1,773) 436
Investment gains (losses) (1,892) 701 (1,141) 2,467
Other, net 18,756 16,313 39,745 31,907
Revenues 668,682 654,686 1,359,909 1,292,399
Benefits and expenses:        
Benefits and claims 153,257 168,347 340,326 352,136
Amortization of deferred policy acquisition costs 85,379 54,286 171,442 120,390
Sales commissions 119,763 131,303 253,687 253,197
Insurance expenses 59,461 48,579 118,969 97,346
Insurance commissions 7,594 8,838 15,315 17,578
Contract acquisition costs 19,384   40,034  
Interest expense 6,814 7,141 13,667 14,285
Other operating expenses 79,730 66,726 166,165 139,694
Total benefits and expenses 531,382 485,220 1,119,605 994,626
Income before income taxes 137,300 169,466 240,304 297,773
Income taxes 31,737 41,304 55,977 71,740
Net income (loss) 105,563 128,162 184,327 226,033
Net income (loss) attributable to noncontrolling interests (2,384)   (5,038)  
Net income (loss) attributable to Primerica, Inc. $ 107,947 $ 128,162 $ 189,365 $ 226,033
Earnings per share attributable to common stockholders:        
Basic earnings per share $ 2.80 $ 3.23 $ 4.86 $ 5.70
Diluted earnings per share $ 2.79 $ 3.22 $ 4.85 $ 5.68
Weighted-average shares used in computing earnings per share:        
Basic 38,386 39,531 38,801 39,493
Diluted 38,501 39,653 38,914 39,616