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Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Premiums and other considerations $ 8,569 $ 12,731 $ 25,691 $ 31,534
Annuity product charges 51,931 47,675 144,106 125,304
Net investment income 500,202 463,583 1,479,288 1,374,239
Change in fair value of derivatives 362,525 103,794 1,015,878 68,828
Net realized gains on investments, excluding other than temporary impairment (OTTI) losses 1,579 5,256 7,790 10,680
OTTI losses on investments:        
Total OTTI losses (273) (4,554) (273) (11,334)
Portion of OTTI losses recognized in (from) other comprehensive income (191) 1,575 (1,281) (1,785)
Net OTTI losses recognized in operations (464) (2,979) (1,554) (13,119)
Loss on extinguishment of debt (18,389) 0 (18,817) 0
Total revenues 905,953 630,060 2,652,382 1,597,466
Benefits and expenses:        
Insurance policy benefits and change in future policy benefits 10,823 15,065 32,684 37,567
Interest sensitive and index product benefits 501,028 278,943 1,392,763 487,735
Amortization of deferred sales inducements 14,707 69,245 110,727 127,396
Change in fair value of embedded derivatives 229,702 144,404 628,845 694,564
Interest expense on notes and loan payable 7,597 6,887 23,997 20,649
Interest expense on subordinated debentures 3,502 3,253 10,260 9,627
Amortization of deferred policy acquisition costs 23,023 98,108 162,248 198,486
Other operating costs and expenses 28,782 25,133 82,325 78,786
Total benefits and expenses 819,164 641,038 2,443,849 1,654,810
Income (loss) before income taxes 86,789 (10,978) 208,533 (57,344)
Income tax expense (benefit) 29,832 (3,558) 70,691 (19,791)
Net income (loss) $ 56,957 $ (7,420) $ 137,842 $ (37,553)
Earnings (loss) per common share $ 0.64 $ (0.09) $ 1.55 $ (0.45)
Earnings (loss) per common share - assuming dilution $ 0.63 $ (0.09) $ 1.53 $ (0.45)
Weighted average common shares outstanding: earnings (loss) per common share [1] 89,068,770 86,261,692 88,872,562 83,645,427
Weighted average common shares outstanding: earnings (loss) per common share - assuming dilution 90,420,530 87,043,926 90,171,020 84,412,553
[1] Weighted average common shares outstanding include shares vested under the NMO Deferred Compensation Plan.