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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Net premiums and contract charges earned $ 266.0 $ 257.4 $ 782.6 $ 768.6
Net investment income 118.9 97.6 327.8 300.7
Net investment losses (8.4) (12.8) (29.7) (43.8)
Other income 2.2 0.4 8.3 9.7
Total revenues 378.7 342.6 1,089.0 1,035.2
Benefits, losses and expenses        
Benefits, claims and settlement expenses 199.2 167.1 587.6 545.7
Interest credited 52.7 44.8 152.1 125.9
Operating expenses 75.7 75.6 235.6 229.4
DAC amortization expense 26.3 22.2 75.4 65.7
Intangible asset amortization expense 3.7 4.2 11.1 12.6
Interest expense 7.5 5.3 21.1 13.5
Total benefits, losses and expenses 365.1 319.2 1,082.9 992.8
Income before income taxes 13.6 23.4 6.1 42.4
Income tax expense 1.9 3.0 0.6 5.9
Net income $ 11.7 $ 20.4 $ 5.5 $ 36.5
Net income per share        
Basic (in usd per share) $ 0.28 $ 0.49 $ 0.13 $ 0.87
Diluted (in usd per share) $ 0.28 $ 0.49 $ 0.13 $ 0.87
Weighted average number of shares and equivalent shares        
Basic (in shares) 41.3 41.4 41.3 41.7
Diluted (in shares) 41.4 41.6 41.4 41.9
Statements of Comprehensive Income (Loss)        
Net income (loss) $ 11.7 $ 20.4 $ 5.5 $ 36.5
Other comprehensive loss, net of tax:        
Change in net unrealized investment losses on fixed maturity securities (141.0) (215.0) (85.1) (843.9)
Change in net reserve remeasurements attributable to discount rates 90.7 110.7 74.6 460.7
Change in net funded status of benefit plans 0.0 0.0 0.0 0.0
Other comprehensive loss (50.3) (104.3) (10.5) (383.2)
Comprehensive income (loss) $ (38.6) $ (83.9) $ (5.0) $ (346.7)