XML 72 R45.htm IDEA: XBRL DOCUMENT v2.4.0.6
Quarterly Financial Information Level 3 (Tables)
 12 Months Ended
Dec. 31, 2012
Quarterly Financial Information Disclosure [Abstract]  
Comparability of Net Income, Impact of Fair Value Accounting to Fixed Index Annuity Business [Table Text Block]
The differences between the change in fair value of derivatives for each quarter primarily correspond to the performance of the indices upon which our call options are based. The comparability of net income (loss) is impacted by the application of fair value accounting to our fixed index annuity business as follows:
 
Quarter ended
 
March 31,
 
June 30,
 
September 30,
 
December 31,
 
(Dollars in thousands)
2012
$
16,279

 
$
5,058

 
$
18,106

 
$
(8,270
)
2011
(2,945
)
 
9,747

 
45,868

 
(21,313
)
Schedule of Quarterly Financial Information [Table Text Block]
Unaudited quarterly results of operations are summarized below.
 
 
Quarter ended
 
 
March 31,
 
June 30,
 
September 30,
 
December 31,
 
 
(Dollars in thousands, except per share data)
2012
 
 
 
 
 
 
 
 
Premiums and product charges
 
$
22,615

 
$
25,156

 
$
27,175

 
$
26,937

Net investment income
 
326,910

 
320,259

 
318,594

 
321,160

Change in fair value of derivatives
 
259,161

 
(150,847
)
 
161,090

 
(48,266
)
Net realized gains (losses) on investments, excluding OTTI losses
 
(6,076
)
 
(611
)
 
(1,238
)
 
1,471

Net OTTI losses recognized in operations
 
(2,881
)
 
(978
)
 
(1,686
)
 
(9,387
)
Total revenues
 
599,729

 
192,979

 
503,935

 
291,915

Net income (loss)
 
10,471

 
18,759

 
(7,829
)
 
36,397

Earnings (loss) per common share
 
0.18

 
0.31

 
(0.13
)
 
0.58

Earnings (loss) per common share—assuming dilution
 
0.16

 
0.30

 
(0.13
)
 
0.55

2011
 
 
 
 
 
 
 
 
Premiums and product charges
 
$
19,878

 
$
23,181

 
$
23,531

 
$
21,750

Net investment income
 
292,128

 
296,878

 
305,502

 
324,272

Change in fair value of derivatives
 
148,653

 
(22,029
)
 
(333,621
)
 
92,269

Net realized gains (losses) on investments, excluding OTTI losses
 
(1,193
)
 
(854
)
 
(17,292
)
 
698

Net OTTI losses recognized in operations
 
(6,571
)
 
(2,229
)
 
(8,891
)
 
(16,285
)
Total revenues
 
452,895

 
294,947

 
(30,771
)
 
422,704

Net income (loss)
 
31,343

 
18,274

 
(13,068
)
 
49,699

Earnings (loss) per common share
 
0.53

 
0.31

 
(0.22
)
 
0.83

Earnings (loss) per common share—assuming dilution
 
0.48

 
0.28

 
(0.22
)
 
0.79