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Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues:        
Premiums and other considerations $ 8,335 $ 6,043 $ 25,369 $ 22,497
Annuity product charges 37,975 31,958 99,066 86,477
Net investment income 436,085 386,931 1,253,930 1,127,818
Change in fair value of derivatives (351,360) 39,218 (405,484) 358,594
Net realized gains (losses) on investments, excluding other than temporary impairment (OTTI) losses 1,159 (3,190) 10,362 (6,134)
OTTI losses on investments:        
Total OTTI losses (10,000) 0 (10,132) 0
Portion of OTTI losses recognized in (from) other comprehensive income 4,771 (564) 3,943 (2,063)
Net OTTI losses recognized in operations (5,229) (564) (6,189) (2,063)
Loss on extinguishment of debt 0 0 0 (10,551)
Total revenues 126,965 460,396 977,054 1,576,638
Benefits and expenses:        
Insurance policy benefits and change in future policy benefits 10,959 9,109 32,629 30,191
Interest sensitive and index product benefits 213,465 429,415 802,431 1,114,381
Amortization of deferred sales inducements 65,807 40,661 152,278 96,676
Change in fair value of embedded derivatives (414,724) (195,206) (583,112) (21,652)
Interest expense on notes payable 7,283 8,741 21,976 28,126
Interest expense on subordinated debentures 3,075 3,044 9,138 9,076
Amortization of deferred policy acquisition costs 67,885 39,671 186,871 113,949
Other operating costs and expenses 24,497 20,616 70,487 60,588
Total benefits and expenses (21,753) 356,051 692,698 1,431,335
Income before income taxes 148,718 104,345 284,356 145,303
Income tax expense 51,412 36,530 98,302 50,497
Net income $ 97,306 $ 67,815 $ 186,054 $ 94,806
Earnings per common share $ 1.22 $ 0.90 $ 2.39 $ 1.28
Earnings per common share - assuming dilution $ 1.19 $ 0.85 $ 2.33 $ 1.19
Weighted average common shares outstanding: earnings per common share [1] 79,675,955 75,082,852 77,994,602 74,030,290
Weighted average common shares outstanding: earnings per common share - assuming dilution 81,558,636 79,467,110 79,977,310 79,477,258
[1] Weighted average common shares outstanding include shares vested under the NMO Deferred Compensation Plan and exclude unallocated shares held by the ESOP.