XML 28 R5.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
 [1]
Dec. 31, 2021
Revenues:      
Premiums and other considerations $ 11,967 $ 19,739 $ 58,202 [1]
Annuity product charges 315,496 230,354 [2] 242,631 [1],[2]
Net investment income 2,272,798 2,307,463 2,037,475 [1]
Change in fair value of derivatives 259,046 (1,138,128) 1,348,735 [1]
Net realized losses on investments (99,203) (47,848) (13,242) [1]
Other revenue 75,866 42,245 16,160 [1]
Total revenues 2,835,970 1,413,825 3,689,961 [1]
Benefits and expenses:      
Insurance policy benefits and change in future policy benefits (remeasurement gains (losses) of future policy benefit reserves of $(2,013), $(1,959), and $(1,907) for years ended 2023, 2022, 2021, respectively) 17,687 33,220 73,896 [1]
Interest sensitive and index product benefits 567,423 554,871 2,231,567 [1]
Market risk benefits (gains) losses (14,546) 3,684 268,973 [1]
Amortization of deferred sales inducements 192,252 181,970 [2] 191,884 [1],[2]
Change in fair value of embedded derivatives 1,143,576 (2,352,598) [2] (358,302) [1],[2]
Interest expense on notes and loan payable 45,890 32,098 25,581 [1]
Interest expense on subordinated debentures 5,355 5,331 5,324 [1]
Amortization of deferred policy acquisition costs 279,700 284,011 [2] 306,370 [1],[2]
Other operating costs and expenses 301,581 239,526 241,882 [1]
Total benefits and expenses 2,538,918 (1,017,887) 2,987,175 [1]
Income before income taxes 297,052 2,431,712 702,786 [1]
Income tax expense 85,133 511,135 149,763 [1]
Net income 211,919 1,920,577 [2] 553,023 [2],[3]
Less: Net income available to noncontrolling interests 1,389 358 0 [1]
Net income available to American Equity Investment Life Holding Company stockholders 210,530 1,920,219 553,023 [1]
Less: Preferred stock dividends 43,675 43,675 43,675 [1]
Net income available to American Equity Investment Life Holding Company common stockholders $ 166,855 $ 1,876,544 $ 509,348 [1]
Earnings per common share $ 2.10 $ 20.72 $ 5.43 [1]
Earnings per common share - assuming dilution $ 2.06 $ 20.50 $ 5.39 [1]
Weighted average common shares outstanding: earnings per common share 79,476,080 90,558,121 93,860,378 [1]
Weighted average common shares outstanding: earnings per common share - assuming dilution 80,952,270 91,538,128 94,491,159 [1]
[1] Certain prior period amounts have been recast. See Note 1 - Significant Accounting Policies for more information.
[2] Certain prior period amounts have been recast. See Note 1 - Significant Accounting Policies for more information.
[3] Certain prior period amounts have been recast. See Note 1 - Significant Accounting Policies for more information.