Segment Information (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Premium Income by Major Line of Business within Each Segment

Segment information is as follows:

	Three Months Ended September 30				Nine Months Ended September 30
	2022		2021		2022		2021
	(in millions of dollars)
Premium Income
Unum US
Group Disability
Group Long-term Disability	$	480.9	$	451.4	$	1,419.2	$	1,367.7
Group Short-term Disability	232.2		212.4		685.9		641.2
Group Life and Accidental Death & Dismemberment
Group Life	417.7		404.2		1,249.9		1,228.8
Accidental Death & Dismemberment	43.8		39.6		129.7		123.0
Supplemental and Voluntary
Voluntary Benefits	199.0		209.6		635.2		640.4
Individual Disability	118.9		115.7		350.3		345.0
Dental and Vision	67.1		67.9		206.6		202.6
	1,559.6		1,500.8		4,676.8		4,548.7
Unum International
Unum UK
Group Long-term Disability	89.8		101.6		287.5		303.8
Group Life	35.0		29.1		100.5		84.4
Supplemental	27.4		28.3		85.8		84.2
Unum Poland	21.1		22.6		66.7		67.1
	173.3		181.6		540.5		539.5
Colonial Life
Accident, Sickness, and Disability	236.1		238.0		714.0		715.1
Life	100.2		94.6		303.2		287.3
Cancer and Critical Illness	87.0		88.2		264.4		264.5
	423.3		420.8		1,281.6		1,266.9
Closed Block
Long-term Care	174.5		176.1		523.0		528.4
Individual Disability	59.5		72.3		185.3		216.8
All Other	1.5		2.1		5.1		6.1
	235.5		250.5		713.4		751.3
Total Premium Income	$	2,391.7	$	2,353.7	$	7,212.3	$	7,106.4

Selected Operating Statement Data by Segment

	Unum US		Unum International		Colonial Life		Closed Block		Corporate		Total
	(in millions of dollars)
Three Months Ended September 30, 2022
Premium Income	$	1,559.6	$	173.3	$	423.3	$	235.5	$	—	$	2,391.7
Net Investment Income	170.6		37.0		38.6		251.4		14.0		511.6
Other Income	49.0		0.2		0.3		13.1		0.4		63.0
Adjusted Operating Revenue	$	1,779.2	$	210.5	$	462.2	$	500.0	$	14.4	$	2,966.3
Adjusted Operating Income (Loss)	$	275.0	$	29.9	$	90.4	$	34.1	$	(49.5)	$	379.9
Three Months Ended September 30, 2021
Premium Income	$	1,500.8	$	181.6	$	420.8	$	250.5	$	—	$	2,353.7
Net Investment Income	176.2		33.1		51.8		284.6		4.5		550.2
Other Income	43.5		0.4		0.3		19.3		2.4		65.9
Adjusted Operating Revenue	$	1,720.5	$	215.1	$	472.9	$	554.4	$	6.9	$	2,969.8
Adjusted Operating Income (Loss)	$	88.5	$	27.4	$	80.1	$	109.8	$	(45.4)	$	260.4

	Unum US		Unum International		Colonial Life		Closed Block		Corporate		Total
	(in millions of dollars)
Nine Months Ended September 30, 2022
Premium Income	$	4,676.8	$	540.5	$	1,281.6	$	713.4	$	—	$	7,212.3
Net Investment Income	509.4		122.3		115.4		817.7		33.0		1,597.8
Other Income	146.8		0.7		0.8		45.6		3.6		197.5
Adjusted Operating Revenue	$	5,333.0	$	663.5	$	1,397.8	$	1,576.7	$	36.6	$	9,007.6
Adjusted Operating Income (Loss)	$	742.0	$	82.0	$	281.6	$	207.5	$	(126.8)	$	1,186.3
Nine Months Ended September 30, 2021
Premium Income	$	4,548.7	$	539.5	$	1,266.9	$	751.3	$	—	$	7,106.4
Net Investment Income	539.5		94.8		131.1		876.5		20.5		1,662.4
Other Income	125.2		0.6		0.8		49.8		4.1		180.5
Adjusted Operating Revenue	$	5,213.4	$	634.9	$	1,398.8	$	1,677.6	$	24.6	$	8,949.3
Adjusted Operating Income (Loss)	$	383.5	$	78.6	$	249.2	$	318.0	$	(132.8)	$	896.5

Assets by Segment

	September 30		December 31
	2022		2021
	(in millions of dollars)
Assets
Unum US	$	16,183.0	$	18,696.3
Unum International	2,910.5		4,086.5
Colonial Life	4,412.5		4,895.9
Closed Block	33,876.8		38,287.9
Corporate	3,483.9		4,149.0
Total Assets	$	60,866.7	$	70,115.6

Reconciliation of Total Revenue and Income Before Income Tax to Adjusted Operating Revenue and Adjusted Operating Income

A reconciliation of total revenue to "adjusted operating revenue" and income before income tax to "adjusted operating income" is as follows:

	Three Months Ended September 30				Nine Months Ended September 30
	2022		2021		2022		2021
	(in millions of dollars)
Total Revenue	$	2,961.9	$	2,969.7	$	8,985.3	$	9,034.7
Excluding:
Net Investment Gain (Loss)	(4.4)		(0.1)		(22.3)		85.4
Adjusted Operating Revenue	$	2,966.3	$	2,969.8	$	9,007.6	$	8,949.3
Income Before Income Tax	$	515.3	$	409.9	$	1,270.5	$	871.3
Excluding:
Net Investment Gains and Losses
Net Realized Investment Gain Related to Reinsurance Transaction	—		—		—		67.6
Net Investment Gain (Loss), Other	(4.4)		(0.1)		(22.3)		17.8
Total Net Investment Gain (Loss)	(4.4)		(0.1)		(22.3)		85.4
Items Related to Closed Block Individual Disability Reinsurance Transaction
Change in Benefit Reserves and Transaction Costs	—		—		—		(139.3)
Amortization of the Cost of Reinsurance	(15.2)		(19.7)		(48.5)		(59.4)
Total Items Related to Closed Block Individual Disability Reinsurance Transaction	(15.2)		(19.7)		(48.5)		(198.7)
Net Reserve Decrease Related to Reserve Assumption Updates	155.0		181.4		155.0		181.4
Impairment Loss on Internal-Use Software	—		(12.1)		—		(12.1)
Cost Related to Early Retirement of Debt	—		—		—		(67.3)
Impairment Loss on ROU Asset	—		—		—		(13.9)
Adjusted Operating Income	$	379.9	$	260.4	$	1,186.3	$	896.5