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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Net premiums and contract charges earned $ 280.9 $ 260.7 $ 556.1 $ 516.6
Net investment income 108.4 108.5 213.8 208.9
Net investment gains (losses) (5.9) (17.4) (3.7) (21.3)
Other income 4.7 4.6 7.9 6.1
Total revenues 388.1 356.4 774.1 710.3
Benefits, losses and expenses        
Benefits, claims and settlement expenses 207.3 205.2 383.6 388.4
Interest credited 53.8 50.7 106.7 99.4
Operating expenses 83.0 80.1 167.5 159.9
DAC amortization expense 27.0 25.4 54.0 49.1
Intangible asset amortization expense 3.7 3.7 7.3 7.4
Interest expense 8.7 6.9 17.4 13.6
Total benefits, losses and expenses 383.5 372.0 736.5 717.8
Income before income taxes 4.6 (15.6) 37.6 (7.5)
Income tax expense 0.8 (2.8) 7.3 (1.3)
Net income (loss) $ 3.8 $ (12.8) $ 30.3 $ (6.2)
Net income per share        
Basic (in usd per share) $ 0.09 $ (0.31) $ 0.74 $ (0.15)
Diluted (in usd per share) $ 0.09 $ (0.31) $ 0.73 $ (0.15)
Weighted average number of shares and equivalent shares        
Basic (in shares) 41.4 41.3 41.3 41.3
Diluted (in shares) 41.6 41.4 41.5 41.4
Statements of Comprehensive Income (Loss)        
Net income (loss) $ 3.8 $ (12.8) $ 30.3 $ (6.2)
Other comprehensive income (loss), net of tax:        
Change in net unrealized investment losses on fixed maturity securities (22.4) (37.3) (42.1) 55.9
Change in net reserve remeasurements attributable to discount rates 32.0 25.1 73.4 (16.1)
Change in net funded status of benefit plans 0.0 0.0 0.0 0.0
Other comprehensive income 9.6 (12.2) 31.3 39.8
Comprehensive income (loss) $ 13.4 $ (25.0) $ 61.6 $ 33.6