AOI Available to Common Shareholders definition
AOI Available to Common Shareholders is a non-GAAP economic measure. AOI available to common shareholders is calculated by adjusting net income (loss) available to common shareholders to eliminate (i) the impact of net investment gains including other than temporary impairment (“OTTI”) losses recognized in operations, but excluding gains and losses on derivatives hedging the Company’s indexed annuity policies, (ii) the effect of changes in fair values of FIA derivatives and embedded derivatives, (iii) the tax effect of change in fair value of affiliated reinsurance embedded derivatives, (iv) the effect of integration, merger related and other non-operating items, and (v) impact of extinguishment of debt. All adjustments to AOI available to common shareholders are net of the corresponding impact on amortization of intangibles. The income tax impact related to these adjustments is measured using an effective tax rate of 21%, as appropriate.