AMERICAN EQUITY INVESTMENT LIFE HOLDING CO
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
ANG-PD$22.59+3.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
(Dollars in thousands, except per share data)
| Year Ended December 31, | |||||
|---|---|---|---|---|---|
| 2023 | 2022 (a) | 2021 (a) | |||
| Revenues: | |||||
| Premiums and other considerations | $11,967 | $19,739 | $58,202 | ||
| Annuity product charges | 315,496 | 230,354 | 242,631 | ||
| Net investment income | 2,272,798 | 2,307,463 | 2,037,475 | ||
| Change in fair value of derivatives | 259,046 | (1,138,128) | 1,348,735 | ||
| Net realized losses on investments | (99,203) | (47,848) | (13,242) | ||
| Other revenue | 75,866 | 42,245 | 16,160 | ||
| Total revenues | 2,835,970 | 1,413,825 | 3,689,961 | ||
| 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 | ||
| Interest sensitive and index product benefits | 567,423 | 554,871 | 2,231,567 | ||
| Market risk benefits (gains) losses | (14,546) | 3,684 | 268,973 | ||
| Amortization of deferred sales inducements | 192,252 | 181,970 | 191,884 | ||
| Change in fair value of embedded derivatives | 1,143,576 | (2,352,598) | (358,302) | ||
| Interest expense on notes and loan payable | 45,890 | 32,098 | 25,581 | ||
| Interest expense on subordinated debentures | 5,355 | 5,331 | 5,324 | ||
| Amortization of deferred policy acquisition costs | 279,700 | 284,011 | 306,370 | ||
| Other operating costs and expenses | 301,581 | 239,526 | 241,882 | ||
| Total benefits and expenses | 2,538,918 | (1,017,887) | 2,987,175 | ||
| Income before income taxes | 297,052 | 2,431,712 | 702,786 | ||
| Income tax expense | 85,133 | 511,135 | 149,763 | ||
| Net income | 211,919 | 1,920,577 | 553,023 | ||
| Less: Net income available to noncontrolling interests | 1,389 | 358 | — | ||
| Net income available to American Equity Investment Life Holding Company stockholders | 210,530 | 1,920,219 | 553,023 | ||
| Less: Preferred stock dividends | 43,675 | 43,675 | 43,675 | ||
| Net income available to American Equity Investment Life Holding Company common stockholders | $166,855 | $1,876,544 | $509,348 | ||
| Earnings per common share | $2.10 | $20.72 | $5.43 | ||
| Earnings per common share - assuming dilution | $2.06 | $20.50 | $5.39 | ||
| Weighted average common shares outstanding (in thousands): | |||||
| Earnings per common share | 79,476 | 90,558 | 93,860 | ||
| Earnings per common share - assuming dilution | 80,952 | 91,538 | 94,491 | ||
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