XML 20 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Net premiums and contract charges earned $ 257.8 $ 225.4 $ 769.5 $ 678.8
Net investment income 97.6 103.7 300.7 308.4
Net investment losses (12.8) (6.5) (43.8) (10.6)
Other income 0.4 7.0 9.7 22.1
Total revenues 343.0 329.6 1,036.1 998.7
Benefits, losses and expenses        
Benefits, claims and settlement expenses 173.6 164.8 558.2 446.2
Interest credited 45.9 51.9 129.1 153.7
Operating expenses 75.6 64.3 229.7 182.8
DAC unlocking and amortization expense 23.3 22.9 76.7 70.5
Intangible asset amortization expense 4.2 3.3 12.6 9.8
Interest expense 5.3 3.4 13.5 10.4
Total benefits, losses and expenses 327.9 310.6 1,019.8 873.4
Income before income taxes 15.1 19.0 16.3 125.3
Income tax expense 1.2 2.7 0.4 23.0
Net income $ 13.9 $ 16.3 $ 15.9 $ 102.3
Net income per share        
Basic (in usd per share) $ 0.33 $ 0.39 $ 0.38 $ 2.44
Diluted (in usd per share) $ 0.33 $ 0.39 $ 0.38 $ 2.43
Weighted average number of shares and equivalent shares        
Basic (in shares) 41.4 42.0 41.7 42.0
Diluted (in shares) 41.6 42.2 41.9 42.2
Net income $ 13.9 $ 16.3 $ 15.9 $ 102.3
Other comprehensive income (loss), net of tax:        
Change in net unrealized investment losses on fixed maturity securities (176.3) (25.3) (687.4) (59.4)
Change in net funded status of benefit plans 0.0 0.0 0.0 0.0
Other comprehensive loss (176.3) (25.3) (687.4) (59.4)
Comprehensive income (loss) $ (162.4) $ (9.0) $ (671.5) $ 42.9