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Revenues from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2022


	For the year ended December 31,
	2022		2021		2020

	(in millions)
Revenue from contracts with customers by segment:
Retirement and Income Solutions:
Retirement and Income Solutions — Fee	$	522.2	$	399.3	$	250.5
Retirement and Income Solutions — Spread		11.4		9.9		8.6
Total Retirement and Income Solutions		533.6		409.2		259.1
U.S. Insurance Solutions:
Specialty Benefits insurance		12.2		12.1		12.1
Individual Life insurance		64.4		60.1		48.4
Eliminations		—		(0.1)		(0.1)
Total U.S. Insurance Solutions		76.6		72.1		60.4
Corporate		(0.8)		(1.0)		(0.8)
Total segment revenue from contracts with customers		609.4		480.3		318.7
Adjustments for fees and other revenues not within the scope of revenue recognition guidance ⁽¹⁾		1,557.5		2,202.8		2,025.1
Pre-tax other adjustments ⁽²⁾		41.0		(3.5)		9.8
Total fees and other revenues per consolidated statements of operations	$	2,207.9	$	2,679.6	$	2,353.6

(1)	Fees and other revenues not within the scope of the revenue recognition guidance primarily represent revenue on contracts accounted for under the financial instruments or insurance contracts standards.

(2)	Pre-tax other adjustments relate to revenues from exited business and the recognition of deferred front-end fee revenues for sales charges on retirement and life insurance products and certain market value adjustments to fee revenues.


	For the year ended December 31,
	2022		2021		2020

	(in millions)
Administrative service fee revenue	$	519.2	$	395.9	$	248.4
Other fee revenue		3.0		3.4		2.1
Total revenues from contracts with customers		522.2		399.3		250.5
Fees and other revenues not within the scope of revenue recognition guidance		1,187.0		1,299.6		1,130.4
Total fees and other revenues		1,709.2		1,698.9		1,380.9
Premiums and other considerations		—		0.5		4.9
Net investment income		527.0		442.3		423.0
Total operating revenues	$	2,236.2	$	2,141.7	$	1,808.8


	For the year ended December 31,
	2022		2021		2020

	(in millions)
Deposit account fee revenue	$	10.2	$	9.2	$	8.4
Commission income		1.2		0.7		0.2
Total revenues from contracts with customers		11.4		9.9		8.6
Fees and other revenues not within the scope of revenue recognition guidance		2.9		7.9		9.5
Total fees and other revenues		14.3		17.8		18.1
Premiums and other considerations		1,959.7		1,883.1		3,216.0
Net investment income		1,747.3		2,286.4		2,119.6
Total operating revenues	$	3,721.3	$	4,187.3	$	5,353.7


	For the year ended December 31,
	2022		2021		2020

	(in millions)
Specialty Benefits insurance:
Administrative service fees	$	12.2	$	12.1	$	12.1
Total revenues from contracts with customers		12.2		12.1		12.1
Fees and other revenues not within the scope of revenue recognition guidance		18.5		19.0		19.2
Total fees and other revenues		30.7		31.1		31.3
Premiums and other considerations		2,771.1		2,496.5		2,330.8
Net investment income		179.8		179.2		160.6
Total operating revenues	$	2,981.6	$	2,706.8	$	2,522.7

	For the year ended December 31,
	2022		2021		2020

	(in millions)
Individual Life insurance:
Administrative service fees	$	26.9	$	26.2	$	21.6
Commission income		37.5		33.9		26.8
Total revenues from contracts with customers		64.4		60.1		48.4
Fees and other revenues not within the scope of revenue recognition guidance		333.2		858.8		849.5
Total fees and other revenues		397.6		918.9		897.9
Premiums and other considerations		535.9		333.9		329.1
Net investment income		392.4		794.3		718.8
Total operating revenues	$	1,325.9	$	2,047.1	$	1,945.8


	For the year ended December 31,
	2022		2021		2020

	(in millions)
Eliminations	$	(0.8)	$	(1.0)	$	(0.8)
Total revenues from contracts with customers		(0.8)		(1.0)		(0.8)
Fees and other revenues not within the scope of revenue recognition guidance		15.9		17.5		16.5
Total fees and other revenues		15.1		16.5		15.7
Premiums and other considerations		(2.1)		—		—
Net investment income		47.5		50.9		22.2
Total operating revenues	$	60.5	$	67.4	$	37.9