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Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues:        
Premiums and other considerations $ 11,458 $ 10,037 $ 18,803 $ 17,034
Annuity product charges 41,124 32,409 77,629 61,091
Net investment income 459,830 418,176 910,656 817,845
Change in fair value of derivatives 39,099 (23,024) (34,966) (54,124)
Net realized gains (losses) on investments, excluding other than temporary impairment (OTTI) losses 2,737 4,324 5,424 9,203
OTTI losses on investments:        
Total OTTI losses (762) 0 (6,780) (132)
Portion of OTTI losses recognized in (from) other comprehensive income (3,684) (828) (3,360) (828)
Net OTTI losses recognized in operations (4,446) (828) (10,140) (960)
Total revenues 549,802 441,094 967,406 850,089
Benefits and expenses:        
Insurance policy benefits and change in future policy benefits 13,393 12,450 22,502 21,670
Interest sensitive and index product benefits 111,121 306,141 208,792 588,966
Amortization of deferred sales inducements 30,672 75,518 58,151 86,471
Change in fair value of embedded derivatives 284,303 (219,601) 550,160 (168,388)
Interest expense on notes payable 6,882 7,354 13,762 14,693
Interest expense on subordinated debentures 3,206 3,047 6,374 6,063
Amortization of deferred policy acquisition costs 50,665 104,700 100,378 118,986
Other operating costs and expenses 26,823 24,868 53,653 45,990
Total benefits and expenses 527,065 314,477 1,013,772 714,451
Income (loss) before income taxes 22,737 126,617 (46,366) 135,638
Income tax expense (benefit) 8,029 43,772 (16,233) 46,890
Net income (loss) $ 14,708 $ 82,845 $ (30,133) $ 88,748
Earnings (loss) per common share $ 0.18 $ 1.07 $ (0.37) $ 1.15
Earnings (loss) per common share - assuming dilution $ 0.18 $ 1.05 $ (0.37) $ 1.12
Weighted average common shares outstanding: earnings (loss) per common share [1] 82,516,927 77,237,200 82,322,919 77,139,992
Weighted average common shares outstanding: earnings (loss) per common share - assuming dilution 83,184,137 79,227,317 83,072,816 79,173,143
[1] Weighted average common shares outstanding include shares vested under the NMO Deferred Compensation Plan.