Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Segment information is as follows:


	Year Ended December 31
	2021		2020		2019
	(in millions of dollars)
Premium Income

Unum US
Group Disability
Group Long-term Disability	$	1,827.8	$	1,828.5	$	1,823.1
Group Short-term Disability	864.0		799.2		768.8
Group Life and Accidental Death & Dismemberment
Group Life	1,641.9		1,640.5		1,662.0
Accidental Death & Dismemberment	165.1		163.9		165.7
Supplemental and Voluntary
Individual Disability	459.8		456.0		440.7
Voluntary Benefits	846.7		875.2		910.2
Dental and Vision	272.7		255.6		246.1
	6,078.0		6,018.9		6,016.6

Unum International
Unum UK
Group Long-term Disability	401.9		364.9		353.4
Group Life	112.3		108.5		115.7
Supplemental	112.6		99.8		89.5
Unum Poland	90.2		79.6		71.9
	717.0		652.8		630.5


Colonial Life
Accident, Sickness, and Disability	953.3		975.1		973.4
Life	384.7		376.4		351.6
Cancer and Critical Illness	352.2		360.5		360.0
	1,690.2		1,712.0		1,685.0

Closed Block
Long-term Care	704.3		666.9		651.6
Individual Disability	284.0		319.6		374.3
All Other	7.5		7.9		7.6
	995.8		994.4		1,033.5


Total Premium Income	$	9,481.0	$	9,378.1	$	9,365.6


	Unum US		Unum International		Colonial Life		Closed Block		Corporate		Total
	(in millions of dollars)
Year Ended December 31, 2021

Premium Income	$	6,078.0	$	717.0	$	1,690.2	$	995.8	$	—	$	9,481.0
Net Investment Income	721.6		132.7		172.0		1,159.0		27.9		2,213.2
Other Income	170.0		0.6		1.0		65.1		6.2		242.9
Adjusted Operating Revenue	$	6,969.6	$	850.3	$	1,863.2	$	2,219.9	$	34.1	$	11,937.1

Adjusted Operating Income (Loss)	$	464.9	$	105.7	$	329.2	$	394.7	$	(177.9)	$	1,116.6
Interest and Debt Expense	$	—	$	—	$	—	$	—	$	185.0	$	185.0
Depreciation and Amortization	$	400.9	$	21.0	$	275.4	$	5.1	$	0.7	$	703.1

Year Ended December 31, 2020

Premium Income	$	6,018.9	$	652.8	$	1,712.0	$	994.4	$	—	$	9,378.1
Net Investment Income	720.3		104.6		155.7		1,370.3		9.8		2,360.7
Other Income	154.9		0.5		1.1		66.6		1.1		224.2
Adjusted Operating Revenue	$	6,894.1	$	757.9	$	1,868.8	$	2,431.3	$	10.9	$	11,963.0

Adjusted Operating Income (Loss)	$	825.4	$	76.6	$	335.4	$	241.4	$	(200.8)	$	1,278.0
Interest and Debt Expense	$	—	$	—	$	—	$	3.1	$	185.1	$	188.2
Depreciation and Amortization	$	421.7	$	20.1	$	273.9	$	5.9	$	0.7	$	722.3

Year Ended December 31, 2019

Premium Income	$	6,016.6	$	630.5	$	1,685.0	$	1,033.5	$	—	$	9,365.6
Net Investment Income	739.4		122.5		148.0		1,404.9		20.5		2,435.3
Other Income	142.8		0.6		3.4		71.3		3.1		221.2
Adjusted Operating Revenue	$	6,898.8	$	753.6	$	1,836.4	$	2,509.7	$	23.6	$	12,022.1

Adjusted Operating Income (Loss)	$	1,031.1	$	107.9	$	344.5	$	137.7	$	(188.6)	$	1,432.6
Interest and Debt Expense	$	—	$	—	$	—	$	5.3	$	172.1	$	177.4
Depreciation and Amortization	$	422.8	$	18.7	$	276.6	$	7.7	$	1.7	$	727.5

A reconciliation of total revenue to "adjusted operating revenue" and income before income tax to "adjusted operating income" is as follows:


	Year Ended December 31
	2021		2020		2019
	(in millions of dollars)
Total Revenue	$	12,013.8	$	13,162.1	$	11,998.9
Excluding:
Net Investment Gain (Loss)	76.7		1,199.1		(23.2)
Adjusted Operating Revenue	$	11,937.1	$	11,963.0	$	12,022.1

Income Before Income Tax	$	1,063.0	$	964.0	$	1,382.1
Excluding:
Net Investment Gains and Losses
Net Realized Investment Gain Related to Reinsurance Transaction	67.6		1,302.3		—
Net Investment Gain (Loss), Other	9.1		(103.2)		(23.2)

Total Net Investment Gain (Loss)	76.7		1,199.1		(23.2)
Items Related to Closed Block Individual Disability Reinsurance Transaction
Change in Benefit Reserves and Transaction Costs	(139.3)		(1,305.5)		—
Amortization of the Cost of Reinsurance	(79.1)		(2.6)		—
Total Items Related to Closed Block Individual Disability Reinsurance Transaction	(218.4)		(1,308.1)		—
Net Reserve Change Related to Reserve Assumption Updates	181.4		(169.0)		—
Impairment Loss on Internal-Use Software	(12.1)		—		—
Cost Related to Early Retirement of Debt	(67.3)		—		(27.3)
Impairment Loss on ROU Asset	(13.9)		(12.7)		—


Costs Related to Organizational Design Update	—		(23.3)		—
Adjusted Operating Income	$	1,116.6	$	1,278.0	$	1,432.6


			Unum		Colonial
	Unum US		International		Life		Total
	(in millions of dollars)
Deferred Acquisition Costs

Year Ended December 31, 2021
Beginning of Year	$	1,168.7	$	32.0	$	1,071.9	$	2,272.6
Capitalization	242.7		12.8		252.6		508.1
Amortization	(319.0)		(8.0)		(259.1)		(586.1)
Adjustment Related to Unrealized Investment Gains and Losses	3.8		—		10.9		14.7
Foreign Currency	—		(1.4)		—		(1.4)
End of Year	$	1,096.2	$	35.4	$	1,076.3	$	2,207.9

Year Ended December 31, 2020
Beginning of Year	$	1,223.0	$	26.4	$	1,074.6	$	2,324.0
Capitalization	291.5		12.1		272.6		576.2
Amortization	(341.0)		(7.4)		(257.7)		(606.1)
Adjustment Related to Unrealized Investment Gains and Losses	(4.8)		—		(17.6)		(22.4)
Foreign Currency	—		0.9		—		0.9
End of Year	$	1,168.7	$	32.0	$	1,071.9	$	2,272.6

Year Ended December 31, 2019
Beginning of Year	$	1,239.4	$	20.0	$	1,050.0	$	2,309.4
Capitalization	334.5		12.8		311.3		658.6
Amortization	(344.0)		(7.1)		(258.8)		(609.9)
Adjustment Related to Unrealized Investment Gains and Losses	(6.9)		—		(27.9)		(34.8)
Foreign Currency	—		0.7		—		0.7
End of Year	$	1,223.0	$	26.4	$	1,074.6	$	2,324.0