SPY391.77+4.27 1.10%
DIA319.53+4.14 1.31%
IXIC13,597.97+132.77 0.99%

Press Release: Unum Group Reports Fourth Quarter -4-

· 02/04/2021 16:15
Transaction Costs (net of tax benefit of $274.2; $--) (1,031.3) (5.05) -- -- Amortization of the Cost of Reinsurance (net of tax benefit of $0.6; $--) (2.0) (0.01) -- -- Net Tax Benefits of Reinsurance Transaction 36.5 0.18 -- -- Total Items Related to Closed Block Individual Disability Reinsurance Transaction (996.8) (4.88) -- -- Long-term Care Reserve Increase (net of tax benefit of $31.8; $--) (119.7) (0.59) -- -- Group Pension Reserve Increase (net of tax benefit of $3.7; $--) (13.8) (0.07) -- -- Costs Related to Early Retirement of Debt (net of tax benefit of $--; $0.4) -- -- (1.7) (0.01) After-tax Adjusted Operating Income $ 235.3 $ 1.15 $ 290.7 $ 1.41 * Assuming Dilution Year Ended December 31 2020 2019 per per share (in millions) share * (in millions) * Net Income $ 793.0 $ 3.89 $ 1,100.3 $ 5.24 Excluding: Net Realized Investment Gains and Losses Net Realized Investment Loss (net of tax benefit of $20.9; $4.5) (82.3) (0.40) (18.7) (0.09) Net Realized Investment Gain Related to Reinsurance Transaction (net of tax expense of $273.5; $--) 1,028.8 5.05 -- -- Total Net Realized Investment Gain (Loss) 946.5 4.65 (18.7) (0.09) Items Related to Closed Block Individual Disability Reinsurance Transaction Change in Benefit Reserves and Transaction Costs (net of tax benefit of $274.2; $--) (1,031.3) (5.06) -- -- Amortization of the Cost of Reinsurance (net of tax benefit of $0.6; $--) (2.0) (0.01) -- -- Net Tax Benefits of Reinsurance Transaction 36.5 0.18 -- -- Total Items Related to Closed Block Individual Disability Reinsurance Transaction (996.8) (4.89) -- -- Long-term Care Reserve Increase (net of tax benefit of $31.8; $--) (119.7) (0.59) -- -- Group Pension Reserve Increase (net of tax benefit of $3.7; $--) (13.8) (0.07) -- -- Costs Related to Organizational Design Update (net of tax benefit of $4.7; $--) (18.6) (0.09) -- -- Impairment Loss on ROU Asset (net of tax benefit of $2.7; $--) (10.0) (0.05) -- -- Costs Related to Early Retirement of Debt (net of tax benefit of $--; $5.7) -- -- (21.6) (0.11) After-tax Adjusted Operating Income $ 1,005.4 $ 4.93 $ 1,140.6 $ 5.44 * Assuming Dilution December 31 2020 2019 (in millions) per share (in millions) per share Total Stockholders' Equity (Book Value) $ 10,871.0 $ 53.37 $ 9,965.0 $ 49.10 Excluding: Net Unrealized Gain on Securities 1,067.7 5.24 615.9 3.03 Net Gain on Hedges 97.8 0.48 187.8 0.93 Subtotal 9,705.5 47.65 9,161.3 45.14 Excluding: Foreign Currency Translation Adjustment (261.3) (1.28) (281.6) (1.39) Subtotal 9,966.8 48.93 9,442.9 46.53 Excluding: Unrecognized Pension and Postretirement Benefit Costs (530.0) (2.61) (484.8) (2.39) Total Stockholders' Equity, Excluding Accumulated Other Comprehensive Income (Loss) $ 10,496.8 $ 51.54 $ 9,927.7 $ 48.92

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SOURCE Unum Group

/CONTACT: MEDIA, Natalie Godwin, ngodwin@unum.com; or INVESTORS, Tom White, 423-294-8996, tawhite@unum.com

/Web site: http://www.unum.com

(END) Dow Jones Newswires

February 04, 2021 16:15 ET (21:15 GMT)