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Stockholders' Equity and Earnings Per Common Share (Tables)
 9 Months Ended
Sep. 30, 2024
Stockholders' Equity and Earnings Per Common Share [Abstract]  
Schedule of Basic and Diluted Earnings Per Share
Net income per common share is determined as follows:
 Three Months Ended September 30Nine Months Ended September 30
 2024202320242023
 (in millions of dollars, except share data)
Numerator
Net Income$645.7 $202.0 $1,430.4 $953.2 
Denominator (000s)
Weighted Average Common Shares - Basic186,400.7 196,083.2 189,665.1 197,289.5 
Dilution for Assumed Exercises of Nonvested Stock Awards481.7 1,048.6 544.6 1,005.6 
Weighted Average Common Shares - Assuming Dilution186,882.4 197,131.8 190,209.7 198,295.1 
Net Income Per Common Share
Basic$3.46 $1.03 $7.54 $4.83 
Assuming Dilution$3.46 $1.02 $7.52 $4.81 
Treasury Stock Transactions
Common stock repurchases, which are accounted for using the cost method and classified as treasury stock until otherwise retired, were as follows:

Three Months Ended September 30Nine Months Ended September 30
2024202320242023
(in millions)
Shares Repurchased3.7 1.5 9.7 3.9 
Cost of Shares Repurchased1
$202.0 $74.8 $504.8 $175.4 

1Includes a de minimis amount of commissions for the three and nine months ended September 30, 2024 and a de minimis amount and $0.1 million of commissions for the three and nine months ended September 30, 2023, respectively. Also includes $2.0 million and $4.8 million of excise tax for the three and nine months ended September 30, 2024, respectively, and $0.7 million and $1.2 million of excise tax for the three and nine months ended September 30, 2023, respectively.

As a part of our share repurchase program, we periodically enter into accelerated share repurchase agreements (ASR). Under the terms of these agreements, we make a prepayment to a financial counterparty for which we receive an initial delivery of approximately 75 percent of the total Unum Group common stock to be delivered under the agreement. We simultaneously enter into a forward contract indexed to the price of Unum Group common stock, which subjects the transactions to a future price adjustment. Under the terms of the agreements, we are 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 is settled in shares of Unum Group common stock. Any price adjustment we would be required to pay may be settled in either cash or common stock at our option. Details of our ASRs are as follows:

Prepayment DatePrepayment AmountInitial Share DeliveryForward Contract Settlement DateShares Delivered to Settle Forward Contract
(in millions)
October 2024$150.01.9December 2024Not yet settled
July 2024$150.02.2
September 2024
0.6
April 2024$125.01.7June 20240.7
January 2024$100.01.6March 20240.5
July 2023$50.00.8September 20230.2