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Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenues    
Net earned premiums $ 1,050.3 $ 1,415.2
Fees and other income 340.2 357.7
Net investment income 120.6 135.7
Net realized gains on investments, excluding other-than-temporary impairment losses [1] 3.8 162.4
Total other-than-temporary impairment losses (0.4) (0.4)
Portion of net gain recognized in other comprehensive income, before taxes 0.0 (0.3)
Net other-than-temporary impairment losses recognized in earnings (0.4) (0.7)
Amortization of deferred gains and gains on disposal of businesses 37.0 47.6 [2]
Gain on pension plan curtailment 0.0 29.6
Total revenues 1,551.5 2,147.5
Benefits, losses and expenses    
Policyholder benefits [3] 358.0 543.8
Amortization of deferred acquisition costs and value of business acquired 314.5 334.3
Underwriting, general and administrative expenses 651.3 917.3
Interest expense 12.6 14.5
Total benefits, losses and expenses 1,336.4 1,809.9
Income before provision for income taxes 215.1 337.6
Provision for income taxes 71.3 117.2
Net income $ 143.8 $ 220.4
Earnings Per Share    
Basic (in dollars per share) $ 2.56 $ 3.38
Diluted (in dollars per share) 2.53 3.34
Dividends per share (in dollars per share) $ 0.53 $ 0.50
Share Data    
Weighted average shares outstanding used in basic per share calculations (in shares) 56,201,342 65,086,935
Plus: Dilutive securities (in shares) 555,299 833,611
Weighted average shares used in diluted earnings per share calculations (in shares) 56,756,641 65,920,546
[1] Three months ended March 31, 2016 net gains includes $146.7 related to the sale of AEB as described in Note 5.
[2] Includes $44.6 related to the additional deferred gains and gains related to the AEB sale on March 1, 2016.
[3] The presentation of Assurant Health policyholder benefits includes the impact of the total current period net utilization of premium deficiency reserves of $27.7 in 2017 and $40.4 in 2016 for claim costs and claim adjustments expenses included in policyholder benefits, as well as maintenance costs, which are included within underwriting, general and administrative expenses. In addition, there was favorable claims development experienced through March 31, 2017, in excess of actual benefit expense, which contributed to the credit balance.