XML 34 R5.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2021
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Dec. 31, 2023
Dec. 31, 2022
[1]
Dec. 31, 2021
[1]
Revenues                      
Net premiums and contract charges earned                 $ 1,057.1 $ 1,027.7 $ 888.8
Net investment income                 444.8 400.9 422.5
Net investment losses                 (24.0) (56.5) (11.0)
Other income                 14.0 9.5 29.0
Total revenues $ 346.4 $ 342.6 $ 345.9 $ 346.7 $ 331.2 $ 329.4 $ 346.9 $ 321.7 1,491.9 1,381.6 1,329.3
Benefits, losses and expenses                      
Benefits, claims and settlement expenses                 769.1 747.0 590.7
Interest credited                 205.7 173.4 160.0
Operating expenses                 318.1 315.5 251.0
DAC amortization expense                 101.2 88.2 90.6
Intangible asset amortization expense                 14.8 16.8 13.0
Interest expense                 29.7 19.4 13.9
Other expense - goodwill and intangible asset impairments                 0.0 4.8 [2] 0.0 [2]
Total benefits, losses and expenses                 1,438.6 1,365.1 1,119.2
Income before income taxes                 53.3 16.5 210.1
Income tax expense                 8.3 (3.3) 39.7
Net income $ (16.7) $ 20.4 $ (4.2) $ 20.3 $ 46.9 $ 20.2 $ 54.2 $ 49.1 $ 45.0 $ 19.8 [2] $ 170.4 [2]
Net income per share                      
Basic (in usd per share) $ (0.40) $ 0.49 $ (0.10) $ 0.48 $ 1.12 $ 0.48 $ 1.29 $ 1.17 $ 1.09 $ 0.48 $ 4.06
Diluted (in usd per share) $ (0.40) $ 0.49 $ (0.10) $ 0.48 $ 1.11 $ 0.48 $ 1.29 $ 1.16 $ 1.09 $ 0.47 $ 4.04
Weighted average number of shares and equivalent shares                      
Basic (in shares) 41.4 41.4 41.8 41.9 42.0 42.0 42.0 41.9 41.3 41.6 42.0
Diluted (in shares) 41.4 41.6 41.8 42.1 42.2 42.2 42.2 42.1 41.4 41.8 42.2
Net income $ (16.7) $ 20.4 $ (4.2) $ 20.3 $ 46.9 $ 20.2 $ 54.2 $ 49.1 $ 45.0 $ 19.8 [2] $ 170.4 [2]
Other comprehensive income (loss), net of tax:                      
Effect of adopting ASU 2018-12                 0.0 0.0 (426.6)
Change in net unrealized investment gains (losses) on fixed maturity securities                 121.3 (796.7) (90.3)
Change in net reserve remeasurements attributable to discount rates                 (37.1) 445.9 110.8
Change in net funded status of benefit plans                 1.2 1.4 1.0
Other comprehensive income (loss)                 85.4 (349.4) (405.1)
Total comprehensive income (loss)                 $ 130.4 $ (329.6) $ (234.7)
[1] Recast for the adoption of ASU 2018-12. See Note 1 of the Consolidated Financial Statements
[2] Recast for the adoption of ASU 2018-12. See Note 1 of the Consolidated Financial Statements