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CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
$ in Millions
Total
Preferred Stock and Additional Paid-in Capital
Common Stock
Additional Paid-In Capital
Treasury Shares
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Beginning Balance at Dec. 31, 2022 $ 1,232.9 $ 144.0 $ 46.4 $ 1,395.4 $ (455.1) $ 407.3 $ (305.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) (78.5)         (78.5)  
Other comprehensive (loss) income - change in fair value of fixed maturities, net of taxes 22.0           22.0
Other comprehensive income, net of tax 1.8           1.8
Activity under stock incentive plans 0.5   0.1 0.4      
Retirement of common stock (tax payments on equity compensation) (0.9)     (0.9)      
Employee stock purchase plan 1.2     1.2      
Dividends on preferred stock and Series A Preferred stock (7.9)         (7.9)  
Cash dividend declared - common stock 0.2         0.2  
Ending Balance at Sep. 30, 2023 1,171.3 144.0 46.5 1,396.1 (455.1) 321.1 (281.3)
Beginning Balance at Jun. 30, 2023 1,234.8 144.0 46.5 1,395.1 (455.1) 370.6 (266.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) (46.9)         (46.9)  
Other comprehensive (loss) income - change in fair value of fixed maturities, net of taxes (15.5)           (15.5)
Other comprehensive income, net of tax 0.5           0.5
Activity under stock incentive plans 0.7     0.7      
Retirement of common stock (tax payments on equity compensation) (0.1)     (0.1)      
Employee stock purchase plan 0.4     0.4      
Dividends on preferred stock and Series A Preferred stock (2.6)         (2.6)  
Ending Balance at Sep. 30, 2023 1,171.3 144.0 46.5 1,396.1 (455.1) 321.1 (281.3)
Beginning Balance at Dec. 31, 2023 1,297.5 137.1 1,056.6 51.1 0.0 0.9 51.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) (94.0)         (94.0)  
Other comprehensive (loss) income - change in fair value of fixed maturities, net of taxes 16.5           16.5
Other comprehensive income, net of tax 0.3           0.3
Purchase accounting adjustments [1] (15.3)     (15.3)      
Changes in common stock due to merger with AGIH Merger Sub, Inc. [2] 0.0   (1,256.6) 1,256.6      
Dividends on preferred stock and Series A Preferred stock (7.9)         (7.9)  
Issuance of common stock 200.0   200.0        
Ending Balance at Sep. 30, 2024 1,397.1 137.1 0.0 1,292.4 0.0 (101.0) 68.6
Beginning Balance at Jun. 30, 2024 1,505.6 137.1 1,256.6 51.1 0.0 33.9 26.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) (132.3)         (132.3)  
Other comprehensive (loss) income - change in fair value of fixed maturities, net of taxes 41.3           41.3
Other comprehensive income, net of tax 0.4           0.4
Purchase accounting adjustments [3] (15.3)     (15.3)      
Changes in common stock due to merger with AGIH Merger Sub, Inc. [4] 0.0   (1,256.6) 1,256.6      
Dividends on preferred stock and Series A Preferred stock (2.6)         (2.6)  
Ending Balance at Sep. 30, 2024 $ 1,397.1 $ 137.1 $ 0.0 $ 1,292.4 $ 0.0 $ (101.0) $ 68.6
[1]
(2) Refer to the Merger with AGIH Merger Sub, Inc. in Note 1, “Business and Significant Accounting Policies” for additional information.
[2]
(1) Impact of measurement period adjustment on bargain purchase in connection with the Merger. Refer to Note 1, “Business and Significant Accounting Policies” for additional information.
[3]
(1) Impact of measurement period adjustment on bargain purchase in connection with the Merger. Refer to Note 1, “Business and Significant Accounting Policies” for additional information.
[4]
(2) Refer to the Merger with AGIH Merger Sub, Inc. in Note 1, “Business and Significant Accounting Policies” for additional information.