XML 19 R4.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenues:    
Premiums and other considerations $ 5,410 $ 9,053
Annuity product charges 52,966 50,723
Net investment income 558,438 510,784
Change in fair value of derivatives 384,469 (451,083)
Net realized gains (losses) on investments, excluding other than temporary impairment (OTTI) losses (563) 302
OTTI losses on investments:    
Total OTTI losses 0 (907)
Portion of OTTI losses recognized in (from) other comprehensive income 0 0
Net OTTI losses recognized in operations 0 (907)
Total revenues 1,000,720 118,872
Benefits and expenses:    
Insurance policy benefits and change in future policy benefits 9,299 12,094
Interest sensitive and index product benefits 136,674 514,095
Amortization of deferred sales inducements 33,309 100,423
Change in fair value of embedded derivatives 766,323 (867,232)
Interest expense on notes payable 6,379 6,372
Interest expense on subordinated debentures 4,088 3,630
Amortization of deferred policy acquisition costs 45,132 140,639
Other operating costs and expenses 38,979 31,240
Total benefits and expenses 1,040,183 (58,739)
Income (loss) before income taxes (39,463) 177,611
Income tax expense (benefit) (9,453) 36,649
Net income (loss) $ (30,010) $ 140,962
Earnings (loss) per common share $ (0.33) $ 1.57
Earnings (loss) per common share - assuming dilution $ (0.33) $ 1.55
Weighted average common shares outstanding: earnings (loss) per common share 90,883,254 90,017,166
Weighted average common shares outstanding: earnings (loss) per common share - assuming dilution 91,743,759 91,139,348