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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Insurance policy income $ 625.3 $ 618.3 $ 1,254.0 $ 1,237.6
Net investment income:        
General account assets 231.7 284.9 512.0 553.7
Policyholder and other special-purpose portfolios 87.1 49.6 (23.6) 136.6
Realized investment gains (losses):        
Net realized investment gains (losses) 27.9 5.3 (32.2) 23.6
Change in allowance for credit losses and other-than-temporary impairment losses [1] 15.9 0.0 (39.5) (2.2)
Total realized gains (losses) 43.8 5.3 (71.7) 21.4
Fee revenue and other income 26.3 21.7 60.7 53.5
Total revenues 1,014.2 979.8 1,731.4 2,002.8
Benefits and expenses:        
Insurance policy benefits 540.3 610.4 1,031.1 1,233.9
Interest expense 28.4 38.6 61.8 79.6
Amortization 88.5 46.2 138.7 104.4
Loss on extinguishment of debt 0.0 7.3 0.0 7.3
Other operating costs and expenses 251.6 229.6 465.4 464.3
Total benefits and expenses 908.8 932.1 1,697.0 1,889.5
Income before income taxes 105.4 47.7 34.4 113.3
Income tax expense (benefit):        
Tax expense on period income 23.4 10.1 7.6 23.9
Valuation allowance for deferred tax assets and other tax items 0.0 0.0 (34.0) 0.0
Net income $ 82.0 $ 37.6 $ 60.8 $ 89.4
Basic:        
Weighted average shares outstanding (in shares) 143,421 158,816 144,625 159,882
Net income (in dollars per share) $ 0.57 $ 0.24 $ 0.42 $ 0.56
Diluted:        
Weighted average shares outstanding (in shares) 143,941 159,735 145,269 160,962
Net income (in dollars per share) $ 0.57 $ 0.24 $ 0.42 $ 0.56
[1]
No portion of the other-than-temporary impairments recognized in the 2019 periods was included in accumulated other comprehensive income.