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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Insurance policy income $ 628.3 $ 620.0 $ 1,882.3 $ 1,857.6
Net investment income:        
General account assets 276.9 274.1 788.9 827.8
Policyholder and other special-purpose portfolios 66.6 25.4 43.0 162.0
Realized investment gains (losses):        
Net realized investment gains (losses) 8.2 5.7 (24.0) 29.3
Change in allowance for credit losses and other-than-temporary impairment losses [1] 8.1 (3.4) (31.4) (5.6)
Total realized gains (losses) 16.3 2.3 (55.4) 23.7
Fee revenue and other income 25.4 22.2 86.1 75.7
Total revenues 1,013.5 944.0 2,744.9 2,946.8
Benefits and expenses:        
Insurance policy benefits 560.7 582.8 1,591.8 1,816.7
Interest expense 23.7 37.5 85.5 117.1
Amortization 53.5 51.6 192.2 156.0
Loss on extinguishment of debt 0.0 0.0 0.0 7.3
Other operating costs and expenses 209.2 218.6 674.6 682.9
Total benefits and expenses 847.1 890.5 2,544.1 2,780.0
Income before income taxes 166.4 53.5 200.8 166.8
Income tax expense (benefit):        
Tax expense on period income 37.2 11.5 44.8 35.4
Valuation allowance for deferred tax assets and other tax items 0.0 0.0 (34.0) 0.0
Net income $ 129.2 $ 42.0 $ 190.0 $ 131.4
Basic:        
Weighted average shares outstanding (in shares) 140,900 154,257 143,384 158,007
Net income (in dollars per share) $ 0.92 $ 0.27 $ 1.33 $ 0.83
Diluted:        
Weighted average shares outstanding (in shares) 141,730 155,260 144,090 159,061
Net income (in dollars per share) $ 0.91 $ 0.27 $ 1.32 $ 0.83
[1] No portion of the other-than-temporary impairments recognized in the 2019 periods was included in accumulated other comprehensive income.