XML 29 R17.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Segment Information | 3 Months Ended
--- | ---
Mar. 31, 2018
Segment Reporting [Abstract] |
Segment Information | We have three principal operating business segments: Unum US, Unum UK, and Colonial Life. Our other segments are Closed Block and Corporate. Definitive Purchase Agreement In January of 2018, we entered into a definitive agreement to acquire Pramerica Zycie TUiR SA ("Pramerica"), a financial protection benefits provider in Poland. The acquisition of Pramerica will expand our European presence, which we believe to be an attractive market for financial protection benefits. The transaction is expected to close by the end of 2018 subject to customary approvals and closing conditions. Segment information is as follows:
| Three Months Ended March 31
| 2018 |  | 2017
| (in millions of dollars)
Premium Income |  |  |
Unum US |  |  |
Group Disability |  |  |
Group Long-term Disability | $ | 441.2 |  |  | $ | 434.4 |
Group Short-term Disability | 176.3 |  |  | 157.9 |
Group Life and Accidental Death & Dismemberment |  |  |
Group Life | 399.2 |  |  | 367.8 |
Accidental Death & Dismemberment | 38.7 |  |  | 36.6 |
Supplemental and Voluntary |  |  |
Individual Disability | 104.9 |  |  | 107.0 |
Voluntary Benefits | 229.8 |  |  | 215.2 |
Dental and Vision | 48.7 |  |  | 41.5 |
| 1,438.8 |  |  | 1,360.4 |
Unum UK |  |  |
Group Long-term Disability | 90.8 |  |  | 80.8 |
Group Life | 28.6 |  |  | 24.8 |
Supplemental | 20.2 |  |  | 15.7 |
| 139.6 |  |  | 121.3 |
Colonial Life |  |  |
Accident, Sickness, and Disability | 231.3 |  |  | 219.1 |
Life | 81.0 |  |  | 74.2 |
Cancer and Critical Illness | 86.0 |  |  | 81.0 |
| 398.3 |  |  | 374.3 |
Closed Block |  |  |
Individual Disability | 109.4 |  |  | 121.3 |
Long-term Care | 161.3 |  |  | 163.1 |
All Other | 2.6 |  |  | 2.5 |
| 273.3 |  |  | 286.9 |
Total Premium Income | $ | 2,250.0 |  |  | $ | 2,142.9 |
| Unum US |  | Unum UK |  | Colonial Life |  | Closed Block |  | Corporate |  | Total
| (in millions of dollars)
Three Months Ended March 31, 2018 |  |  |  |  |  |  |  |  |  |  |
Premium Income | $ | 1,438.8 |  |  | $ | 139.6 |  |  | $ | 398.3 |  |  | $ | 273.3 |  |  | $ | — |  |  | $ | 2,250.0 |
Net Investment Income | 194.2 |  |  | 27.6 |  |  | 37.3 |  |  | 337.7 |  |  | 5.5 |  |  | 602.3 |
Other Income | 29.0 |  |  | — |  |  | 0.3 |  |  | 19.0 |  |  | 1.2 |  |  | 49.5 |
Adjusted Operating Revenue | $ | 1,662.0 |  |  | $ | 167.2 |  |  | $ | 435.9 |  |  | $ | 630.0 |  |  | $ | 6.7 |  |  | $ | 2,901.8 |
Adjusted Operating Income (Loss) | $ | 243.9 |  |  | $ | 29.8 |  |  | $ | 81.0 |  |  | $ | 28.9 |  |  | $ | (40.3 | ) |  | $ | 343.3 |
Three Months Ended March 31, 2017 |  |  |  |  |  |  |  |  |  |  |
Premium Income | $ | 1,360.4 |  |  | $ | 121.3 |  |  | $ | 374.3 |  |  | $ | 286.9 |  |  | $ | — |  |  | $ | 2,142.9 |
Net Investment Income | 202.5 |  |  | 26.6 |  |  | 35.1 |  |  | 335.3 |  |  | 2.9 |  |  | 602.4 |
Other Income | 28.7 |  |  | — |  |  | 0.3 |  |  | 20.8 |  |  | 0.4 |  |  | 50.2 |
Adjusted Operating Revenue | $ | 1,591.6 |  |  | $ | 147.9 |  |  | $ | 409.7 |  |  | $ | 643.0 |  |  | $ | 3.3 |  |  | $ | 2,795.5 |
Adjusted Operating Income (Loss) | $ | 239.1 |  |  | $ | 26.6 |  |  | $ | 82.4 |  |  | $ | 31.6 |  |  | $ | (39.8 | ) |  | $ | 339.9 |
| March 31 |  | December 31
| 2018 |  | 2017
| (in millions of dollars)
Assets |  |  |
Unum US | $ | 18,036.3 |  |  | $ | 18,109.1 |
Unum UK | 3,497.6 |  |  | 3,428.1 |
Colonial Life | 4,292.9 |  |  | 4,184.1 |
Closed Block | 34,603.8 |  |  | 35,051.2 |
Corporate | 2,581.7 |  |  | 3,240.6 |
Total Assets | $ | 63,012.3 |  |  | $ | 64,013.1 |
We measure and analyze our segment performance on the basis of "adjusted operating revenue" and "adjusted operating income" or "adjusted operating loss", which differ from total revenue and income before income tax as presented in our consolidated statements of income due to the exclusion of net realized investment gains and losses and certain other items as specified in the reconciliations below. We believe adjusted operating revenue and adjusted operating income or loss are better performance measures and better indicators of the revenue and profitability and underlying trends in our business. These performance measures are in accordance with GAAP guidance for segment reporting, but they should not be viewed as a substitute for total revenue, income before income tax, or net income. Realized investment gains or losses depend on market conditions and do not necessarily relate to decisions regarding the underlying business of our segments. Our investment focus is on investment income to support our insurance liabilities as opposed to the generation of realized investment gains or losses. Although we may experience realized investment gains or losses which will affect future earnings levels, a long-term focus is necessary to maintain profitability over the life of the business since our underlying business is long-term in nature, and we need to earn the interest rates assumed in calculating our liabilities. We may at other times exclude certain other items from our discussion of financial ratios and metrics in order to enhance the understanding and comparability of our operational performance and the underlying fundamentals, but this exclusion is not an indication that similar items may not recur and does not replace net income or net loss as a measure of our overall profitability. See Note 11 for further discussion regarding the loss from a guaranty fund assessment. A reconciliation of total revenue to "adjusted operating revenue" and income before income tax to "adjusted operating income" is as follows:
| Three Months Ended March 31
| 2018 |  | 2017
| (in millions of dollars)
Total Revenue | $ | 2,899.6 |  |  | $ | 2,806.5 |
Excluding: |  |  |
Net Realized Investment Gain (Loss) | (2.2 | ) |  | 11.0 |
Adjusted Operating Revenue | $ | 2,901.8 |  |  | $ | 2,795.5 |
Income Before Income Tax | $ | 341.1 |  |  | $ | 330.3 |
Excluding: |  |  |
Net Realized Investment Gain (Loss) | (2.2 | ) |  | 11.0 |
Loss from Guaranty Fund Assessment | — |  |  | (20.6 | )
Adjusted Operating Income | $ | 343.3 |  |  | $ | 339.9 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration