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Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Premiums and other considerations $ 7,720 $ 11,458 $ 17,122 $ 18,803
Annuity product charges 48,603 41,124 92,175 77,629
Net investment income 493,489 459,830 979,086 910,656
Change in fair value of derivatives 266,820 39,099 653,353 (34,966)
Net realized gains on investments, excluding other than temporary impairment (OTTI) losses 3,873 2,737 6,211 5,424
OTTI losses on investments:        
Total OTTI losses 0 (762) 0 (6,780)
Portion of OTTI losses recognized from other comprehensive income (949) (3,684) (1,090) (3,360)
Net OTTI losses recognized in operations (949) (4,446) (1,090) (10,140)
Loss on extinguishment of debt (428) 0 (428) 0
Total revenues 819,128 549,802 1,746,429 967,406
Benefits and expenses:        
Insurance policy benefits and change in future policy benefits 9,986 13,393 21,861 22,502
Interest sensitive and index product benefits 472,596 111,121 891,735 208,792
Amortization of deferred sales inducements 33,695 30,672 96,020 58,151
Change in fair value of embedded derivatives 174,973 284,303 399,143 550,160
Interest expense on notes and loan payable 8,678 6,882 16,400 13,762
Interest expense on subordinated debentures 3,422 3,206 6,758 6,374
Amortization of deferred policy acquisition costs 49,547 50,665 139,225 100,378
Other operating costs and expenses 25,964 26,823 53,543 53,653
Total benefits and expenses 778,861 527,065 1,624,685 1,013,772
Income (loss) before income taxes 40,267 22,737 121,744 (46,366)
Income tax expense (benefit) 13,321 8,029 40,859 (16,233)
Net income (loss) $ 26,946 $ 14,708 $ 80,885 $ (30,133)
Earnings (loss) per common share $ 0.30 $ 0.18 $ 0.91 $ (0.37)
Earnings (loss) per common share - assuming dilution $ 0.30 $ 0.18 $ 0.90 $ (0.37)
Weighted average common shares outstanding: earnings (loss) per common share [1] 88,897,203 82,516,927 88,772,831 82,322,919
Weighted average common shares outstanding: earnings (loss) per common share - assuming dilution 90,112,284 83,184,137 90,044,639 83,072,816
[1] Weighted average common shares outstanding include shares vested under the NMO Deferred Compensation Plan.