Disposal Groups, Including Discontinued Operations, Disclosure: Disposal Groups, Including Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2021

Tables/Schedules

Disposal Groups, Including Discontinued Operations

The following is a reconciliation, by disposal group, of the carrying amounts of major classes of assets and liabilities included in discontinued operations on the Condensed Consolidated Balance Sheets for the periods indicated (in thousands):

		June 30, 2021
		SSL Sale		Pets Sale		Total
Major classes of assets:
Investments and cash	$	164,346	$	144,688	$	309,034
Goodwill		-		41,716		41,716
Other assets		30,020		35,392		65,412
Assets attributable to discontinued operations	$	194,366	$	221,796	$	416,162
Major classes of liabilities:
Policy benefits and claims	$	56,987	$	12,743	$	69,730
Unearned premiums		26,778		6,080		32,858
Other liabilities		12,500		5,092		17,592
Liabilities attributable to discontinued operations	$	96,265	$	23,915	$	120,180

		December 31, 2020
		SSL Sale		Pets Sale		Total
Major classes of assets included in discontinued operations:
Investments and cash	$	114,916	$	149,844	$	264,760
Goodwill		-		62,414		62,414
Other assets		18,787		29,730		48,517
Assets attributable to discontinued operations	$	133,703	$	241,988	$	375,691
Major classes of liabilities included in discontinued operations:
Policy benefits and claims	$	34,500	$	11,775	$	46,275
Unearned premiums		5,208		5,629		10,837
Other liabilities		9,316		9,511		18,827
Liabilities attributable to discontinued operations	$	49,024	$	26,915	$	75,939

The following is a reconciliation, by disposal group, of the major line items constituting the pretax profit of discontinued operations to the income from discontinued operations, net of tax, as shown on the Condensed Consolidated Statements of Income for the periods indicated (in thousands):

		For the Three Months Ended June 30, 2021
		SSL Sale		Pets Sale		Total
Revenues	$	50,342	$	33,080	$	83,422
Expenses:
Insurance benefits, claims and reserves		24,341		18,442		42,783
Selling, general and administrative expenses		7,394		14,592		21,986
Pretax income of discontinued operations during phase-out		18,607		46		18,653
Pretax provision for loss on disposal		(402)		(410)		(812)
Pretax gain on disposal of discontinued operations		-		74,534		74,534
Total pretax income from discontinued operations		18,205		74,170		92,375
Income tax expense on discontinued operations		3,836		11,734		15,570
Income from discontinued operations, net of tax	$	14,369	$	62,436	$	76,805

		For the Three Months Ended June 30, 2020
		SSL Sale		Pets Sale		Total
Revenues	$	30,442	$	20,407	$	50,849
Expenses:
Insurance benefits, claims and reserves		22,152		11,098		33,250
Selling, general and administrative expenses		6,150		7,855		14,005
Pretax income of discontinued operations during phase-out		2,140		1,454		3,594
Pretax provision for loss on disposal		-		-		-
Pretax gain on disposal of discontinued operations		-		-		-
Total pretax income from discontinued operations		2,140		1,454		3,594
Income tax expense on discontinued operations		822		442		1,264
Income from discontinued operations, net of tax	$	1,318	$	1,012	$	2,330

		For the Six Months Ended June 30, 2021
		SSL Sale		Pets Sale		Total
Revenues	$	93,738	$	61,999	$	155,737
Expenses:
Insurance benefits, claims and reserves		53,865		34,374		88,239
Selling, general and administrative expenses		14,850		26,796		41,646
Pretax income of discontinued operations during phase-out		25,023		829		25,852
Pretax provision for loss on disposal		(402)		(410)		(812)
Pretax gain on disposal of discontinued operations		-		74,534		74,534
Total pretax income from discontinued operations		24,621		74,953		99,574
Income tax expense on discontinued operations		5,151		11,875		17,026
Income from discontinued operations, net of tax	$	19,470	$	63,078	$	82,548

		For the Six Months Ended June 30, 2020
		SSL Sale		Pets Sale		Total
Revenue	$	59,943	$	37,838	$	97,781
Expenses:
Insurance benefits, claims and reserves		40,560		20,459		61,019
Selling, general and administrative expenses		13,004		14,515		27,519
Pretax income of discontinued operations during phase-out		6,379		2,864		9,243
Pretax provision for loss on disposal		-		-		-
Pretax gain on disposal of discontinued operations		-		-		-
Total pretax income from discontinued operations		6,379		2,864		9,243
Income tax expense on discontinued operations		1,689		741		2,430
Income from discontinued operations, net of tax	$	4,690	$	2,123	$	6,813