Stockholders' Equity and Earnings Per Common Share Stockholders' Equity and Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

Net income per common share is determined as follows:

	Year Ended December 31
	2013		2012		2011
	(in millions of dollars, except share data)
Numerator
Net Income	$	858.1	$	894.4	$	284.2
Denominator (000s)
Weighted Average Common Shares - Basic	264,725.8		281,355.9		302,399.8
Dilution for Assumed Exercises of Stock Options and Nonvested Stock Awards	1,223.4		400.9		1,171.2
Weighted Average Common Shares - Assuming Dilution	265,949.2		281,756.8		303,571.0
Net Income Per Common Share
Basic	$	3.24	$	3.18	$	0.94
Assuming Dilution	$	3.23	$	3.17	$	0.94

Authorized common stock repurchase programs

Our board of directors has authorized the repurchase of Unum Group's common stock under the following repurchase programs:

	Share Repurchase Program Authorized During
	December 2013		July 2012		February 2011		May 2010
	(in millions of dollars)
Authorized Repurchase Amount	$	750.0	$	750.0	$	1,000.0	$	500.0
Remaining Repurchase Amount at Year End 2013	$	730.0	$	—	$	—	$	—

The December 2013 share repurchase program has an expiration date of June 12, 2015.

Share Repurchase Table

Common stock repurchases were classified as follows in our consolidated statements of stockholders' equity:

	Year Ended December 31
	2013			2012			2011
	Shares	Cost		Shares	Cost		Shares	Cost
	(in millions)
Treasury Stock	11.2	$	318.6	23.6	$	500.6	17.7	$	419.9
Retirement of Common Shares	—	—		—	—		7.7	200.0
Total	11.2	$	318.6	23.6	$	500.6	25.4	$	619.9

The cost in the preceding chart includes commissions of $0.2 million, $0.6 million, and $0.3 million for the years ended December 31, 2013, 2012, and 2011, respectively.

In February 2011, we repurchased 7.1 million shares, at a cost of $200.0 million, using an accelerated repurchase agreement with a financial counterparty. As part of this transaction, we simultaneously entered into a forward contract indexed to the price of Unum Group common stock, which subjected the transaction to a future price adjustment. Under the terms of the repurchase agreement, we were to receive, or be required to pay, a price adjustment based on the volume weighted average price of Unum Group common stock during the term of the agreement, less a discount. Any price adjustment payable to us was to be settled in shares of Unum Group common stock. Any price adjustment we would have been required to pay would have been settled in either cash or common stock at our option. The final price adjustment settlement occurred in March 2011, resulting in the delivery to us of 0.6 million additional shares. We retired 7.7 million shares during 2011. All other repurchased shares have been classified as treasury stock.