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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, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Net premiums and contract charges earned $ 260.7 $ 255.4 $ 516.6 $ 511.2
Net investment income 108.5 105.2 208.9 203.1
Net investment losses (17.4) (15.5) (21.3) (31.0)
Other income 4.6 0.8 6.1 9.3
Total revenues 356.4 345.9 710.3 692.6
Benefits, losses and expenses        
Benefits, claims and settlement expenses 205.2 203.4 388.4 378.6
Interest credited 50.7 41.4 99.4 81.1
Operating expenses 80.1 77.1 159.9 153.8
DAC amortization expense 25.4 21.5 49.1 43.5
Intangible asset amortization expense 3.7 4.2 7.4 8.4
Interest expense 6.9 4.3 13.6 8.2
Total benefits, losses and expenses 372.0 351.9 717.8 673.6
Income (loss) before income taxes (15.6) (6.0) (7.5) 19.0
Income tax expense (benefit) (2.8) (1.8) (1.3) 2.9
Net income (loss) $ (12.8) $ (4.2) $ (6.2) $ 16.1
Net income (loss) per share        
Basic (in usd per share) $ (0.31) $ (0.10) $ (0.15) $ 0.38
Diluted (in usd per share) $ (0.31) $ (0.10) $ (0.15) $ 0.38
Weighted average number of shares and equivalent shares        
Basic (in shares) 41.3 41.8 41.3 41.8
Diluted (in shares) 41.4 41.8 41.4 42.0
Statements of Comprehensive Income (Loss)        
Net income (loss) $ (12.8) $ (4.2) $ (6.2) $ 16.1
Other comprehensive loss, net of tax:        
Change in net unrealized investment losses on fixed maturity securities (37.3) (294.8) 55.9 (628.9)
Change in net reserve remeasurements attributable to discount rates 25.1 168.5 (16.1) 350.0
Change in net funded status of benefit plans 0.0 0.0 0.0 0.0
Other comprehensive loss (12.2) (126.3) 39.8 (278.9)
Comprehensive income (loss) $ (25.0) $ (130.5) $ 33.6 $ (262.8)