Table of Contents CITIZENS, INC. FINANCIAL SCHEDULES Schedule II, Continued Condensed Financial Information of Registrant CITIZENS, INC. (Parent Company) Statements of Operations and Comprehensive Income (Loss) Years ended December 31, (In thousands) 2019 2018 2017 Comprehensive income (loss): Revenues: Management service fees  (1) $ 43,694 43,323 42,367 Investment income 1,685 1,086 1,282 Other 2 1 80 Realized investment losses (3,013) (196) — Total revenues 42,368 44,214 43,729 Expenses: General expenses 46,020 44,009 41,680 Taxes, licenses and fees 146 761 1,203 Total expenses 46,166 44,770 42,883 Income (loss) before federal income tax expense (benefit) and equity in loss of consolidated subsidiaries (3,798) (556) 846 Federal income tax expense (benefit) (4,491) (185) 228 Income (loss) before equity in income of consolidated subsidiaries 693 (371) 618 Equity in loss of consolidated subsidiaries (2,063) (10,691) (38,745) Net loss (1,370) (11,062) (38,127) Other comprehensive income (loss) 71,751 (25,128) 12,540 Total comprehensive income (loss) $ 70,381 (36,190) (25,587) $^{(1)}$ Eliminated in consolidation. Citizens, Inc.'s investments in consolidated subsidiaries are stated at cost plus equity in undistributed income of consolidated subsidiaries. The Company includes in its Statement of Operations and Comprehensive Income (Loss) dividends from its subsidiaries and equity in undistributed income (loss) of consolidated subsidiaries, which represents the net income (loss) of each of its wholly-owned subsidiaries. Note to Schedule II: December 31, 2019 | 10-K 109