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Dispositions, Assets Held for Sale and Discontinued Operations
 9 Months Ended
Sep. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]  
Dispositions, Assets Held for Sale and Discontinued Operations
Dispositions, Assets Held for Sale and Discontinued Operations

The Company classified its Philadelphia Financial Group (PFG) subsidiary as held for sale as of December 31, 2014. At the time of such classification, the pending sale of PFG also met the requirements to be classified as a discontinued operation. The sale of PFG was completed on June 30, 2015.

As a result, the Company has reclassified the income and expenses attributable to PFG to income from discontinued operations, net for the nine months ended September 30, 2015.
 
 
 
 

The following table represents detail of revenues and expenses of discontinued operations in the Consolidated Statements of Operations for the nine months ended September 30, 2015:
 
 
Nine Months Ended September 30, 2015
Revenues:
 
 
Net realized gain
 
$
151

Interest income
 
2,215

Separate account fees
 
12,706

Service and administrative fees
 
25,385

Other income
 
2

Total revenues
 
40,459

Expenses:
 
 
Interest expense
 
5,226

Payroll expense
 
9,086

Professional fees
 
770

Change in future policy benefits
 
2,077

Mortality expenses
 
5,688

Commission expense
 
1,723

Depreciation and amortization
 
862

Other expenses
 
4,232

Total expenses
 
29,664

Less: provision for income taxes
 
3,796

Income from discontinued operations, net
 
$
6,999


The following table presents the cash flows from discontinued operations for the periods indicated:
 
 
 
Nine Months Ended September 30,
 
2015
Net cash provided by (used in):
 
Operating activities
$
(6,198
)
Investing activities
11,866

Financing activities
(5,000
)
Net cash flows provided by discontinued operations
$
668