Stockholders' Equity and Earnings Per Common Share

Net income per common share is determined as follows:



	Three Months Ended June 30				Six Months Ended June 30
	2013		2012		2013		2012
	(in millions of dollars, except share data)
Numerator
Net Income	$	218.6	$	216.4	$	431.2	$	430.3

Denominator (000s)
Weighted Average Common Shares - Basic	265,560.4		283,316.6		267,452.0		286,874.5
Dilution for Assumed Exercises of Stock Options and Nonvested Stock Awards	1,175.9		424.0		1,084.6		639.3
Weighted Average Common Shares - Assuming Dilution	266,736.3		283,740.6		268,536.6		287,513.8

Net Income Per Common Share
Basic	$	0.82	$	0.76	$	1.61	$	1.50
Assuming Dilution	$	0.82	$	0.76	$	1.61	$	1.50

We use the treasury stock method to account for the effect of outstanding stock options, nonvested stock awards, and performance restricted stock units on the computation of dilutive earnings per share. Under this method, these potential common shares will each have a dilutive effect, as individually measured, when the average market price of Unum Group common stock during the period exceeds the exercise price of the stock options and the grant price of the nonvested stock awards and the performance restricted stock units.

The outstanding stock options have exercise prices ranging from $11.37 to $26.29, the nonvested stock awards have grant prices ranging from $19.38 to $28.25, and the performance restricted stock units have a grant price of $23.97.

In computing earnings per share assuming dilution, only potential common shares that are dilutive (those that reduce earnings per share) are included. Potential common shares not included in the computation of dilutive earnings per share because their impact would be antidilutive, based on current market prices, approximated 0.2 million shares of common stock for the six month period ended June 30, 2013, and 2.3 million and 2.2 million shares of common stock for the three and six month periods ended June 30, 2012, respectively. There were no potential common shares that were antidilutive for the three month period ended June 30, 2013.

In July 2012 and February 2011, our board of directors authorized the repurchase of up to $750.0 million and $1.0 billion, respectively, of Unum Group's common stock. At December 31, 2012, no amounts were remaining for the purchase of shares under the February 2011 repurchase program. The July 2012 share repurchase program has an expiration date of January 2014, and the dollar value of shares remaining under the repurchase program was $356.6 million at June 30, 2013.

Common stock repurchases, which are classified as treasury stock and accounted for using the cost method, were as follows:



	Three Months Ended June 30				Six Months Ended June 30
	2013		2012		2013		2012
	(in millions)
Shares Repurchased	3.6		6.0		7.3		13.5
Cost of Shares Repurchased (1)	$	98.4	$	125.1	$	193.5	$	300.3

(1) Includes commissions of $0.1 million for the three and six month periods ended June 30, 2013 and $0.1 million and $0.3 million for the three and six month periods ended June 30, 2012, respectively.

For the year ended December 31, 2012, we repurchased 23.6 million shares at a cost of $500.6 million, including commissions of $0.6 million.

Unum Group has 25,000,000 shares of preferred stock authorized with a par value of $0.10 per share. No preferred stock has been issued to date.