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Consolidated Statements Of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues      
Net earned premiums $ 5,007,364 $ 8,350,997 $ 8,632,142
Fees and other income 1,422,464 1,303,466 1,033,805
Net investment income 515,678 626,217 656,429
Net realized gains on investments, excluding other-than-temporary impairment losses [1] 169,057 36,850 60,813
Total other-than-temporary impairment losses (6,537) (7,212) (69)
Portion of net loss recognized in other comprehensive income, before taxes (337) 2,188 39
Net other-than-temporary impairment losses recognized in earnings (6,874) (5,024) (30)
Amortization of deferred gains and gains on disposal of businesses 394,513 [2] 12,988 (1,506)
Gain on pension plan curtailment 29,578 0 0
Total revenues 7,531,780 10,325,494 10,381,653
Benefits, losses and expenses      
Policyholder benefits 1,808,472 [3] 4,742,535 4,405,333
Amortization of deferred acquisition costs and value of business acquired 1,351,314 1,402,573 1,485,558
Underwriting, general and administrative expenses 3,442,756 [4] 3,924,089 3,688,230
Interest expense 57,619 55,116 58,395
Loss on extinguishment of debt 23,031 0 0
Total benefits, losses and expenses 6,683,192 10,124,313 9,637,516
Income before benefit for income taxes 848,588 201,181 744,137
Provision for income taxes 283,238 59,626 273,230
Net income $ 565,350 $ 141,555 $ 470,907
Earnings Per Share      
Basic (in dollars per share) $ 9.23 $ 2.08 $ 6.52
Diluted (in dollars per share) 9.13 2.05 6.44
Dividends per share (in dollars per share) $ 2.03 $ 1.37 $ 1.06
Share Data      
Weighted average shares outstanding used in basic per share calculations (in shares) 61,261,288 68,163,825 72,181,447
Plus: Dilutive securities (in shares) 673,486 853,384 970,563
Weighted average shares used in diluted per share calculations (in shares) 61,934,774 69,017,209 73,152,010
[1] Twelve months ended December 31, 2016 net gains includes $146,727 related to the sale of Assurant Employee Benefits as described in Note 5.
[2] Includes $382,555 related to the additional deferred gains and gains related to the Assurant Employee Benefits sale on March 1, 2016.
[3] The presentation of Assurant Health policyholder benefits includes the impact of the total current period net utilization of the premium deficiency reserve of $37,659 for claim costs and claim adjustment expenses included in policyholder benefits, as well as maintenance costs, which are included within underwriting, general and administrative expenses (the net year to date utilization includes a partially offsetting additional premium deficiency charge).
[4] Corporate & Other includes $16,672 intangible asset impairment charge related to trade names that will no longer be used or defended by the Company, and an $23,000 expense related to a post-close adjustment pertaining to an estimated indemnification that will be due on a previous disposition.