XML 20 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues        
Insurance premiums and contract charges earned $ 188,360 $ 182,376 $ 373,810 $ 362,115
Net investment income 91,179 83,995 175,838 167,308
Net realized investment gains 3,080 1,413 2,926 7,481
Other income 939 686 2,287 1,685
Total revenues 283,558 268,470 554,861 538,589
Benefits, losses and expenses        
Benefits, claims and settlement expenses 148,408 132,939 267,921 246,958
Interest credited 47,576 45,350 94,266 89,887
Policy acquisition expenses amortized 24,587 24,007 48,639 47,691
Operating expenses 43,345 40,036 86,141 75,964
Interest expense 2,948 3,406 5,883 6,958
Total benefits, losses and expenses 266,864 245,738 502,850 467,458
Income before income taxes 16,694 22,732 52,011 71,131
Income tax expense 4,828 6,549 14,992 20,673
Net income $ 11,866 $ 16,183 $ 37,019 $ 50,458
Net income per share        
Basic $ 0.29 $ 0.39 $ 0.90 $ 1.2
Diluted $ 0.29 $ 0.38 $ 0.89 $ 1.19
Weighted average number of shares and equivalent shares (in thousands)        
Basic 41,082 41,990 41,200 42,001
Diluted 41,314 42,425 41,416 42,366
Net realized investment gains (losses)        
Total other-than-temporary impairment losses on securities $ (3,853) $ (14,969) $ (7,526) $ (17,258)
Portion of losses recognized in other comprehensive income (290) (4,300) (290) (4,300)
Net other-than-temporary impairment losses on securities recognized in earnings (3,563) (10,669) (7,236) (12,958)
Realized gains, net 6,643 12,082 10,162 20,439
Total $ 3,080 $ 1,413 $ 2,926 $ 7,481