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SHAREHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Schedule of Share-based Compensation

A summary of the Company's stock option activity and related information for 2024 is presented below (shares in thousands; dollars in millions):

			Shares						Weighted average exercise price						Weighted average remaining life (in years)						Aggregate intrinsic value
Outstanding at the beginning of the year			2,185						$	19.45
Exercised			(374)						(19.24)												$	5.7
Forfeited or terminated			(20)						(20.38)
Outstanding at the end of the year			1,791						19.48						3.0						$	31.8
Options exercisable at the end of the year			1,791												3.0						$	31.8

A summary of the Company's stock option activity and related information for 2023 is presented below (shares in thousands; dollars in millions):

			Shares						Weighted average exercise price						Weighted average remaining life (in years)						Aggregate intrinsic value
Outstanding at the beginning of the year			2,736						$	19.45
Exercised			(484)						(19.43)												$	2.9
Forfeited or terminated			(67)						(19.62)
Outstanding at the end of the year			2,185						19.45						3.9						$	11.8
Options exercisable at the end of the year			2,185												3.9						$	11.8

A summary of the Company's stock option activity and related information for 2022 is presented below (shares in thousands; dollars in millions, except per share amounts):

			Shares						Weighted average exercise price						Weighted average remaining life (in years)						Aggregate intrinsic value
Outstanding at the beginning of the year			3,411						$	19.28
Exercised			(618)						(18.43)												$	3.8
Forfeited or terminated			(57)						(20.18)
Outstanding at the end of the year			2,736						19.45						4.7						$	15.1
Options exercisable at the end of the year			2,540												4.6						$	14.1

Schedule of Share-Based Compensation by Exercise Price Range

The following table summarizes information about stock options outstanding at December 31, 2024 (shares in thousands):

												Options outstanding												Options exercisable
Range of exercise prices						Number outstanding						Remaining life (in years)						Weighted Average exercise price						Number exercisable						Average exercise price
$15.08 - $21.06						1,559						3.0						$	18.91					1,559						$	18.91
$23.33						232						3.1						23.33						232						23.33
						1,791																		1,791

Schedule of Nonvested Share Activity

A summary of the Company's non-vested restricted stock activity for 2024 is presented below (shares in thousands):

			Shares						Weighted average grant date fair value
Non-vested shares, beginning of year			988						$	23.41
Granted			451						27.59
Vested			(459)						23.86
Forfeited			(9)						25.69
Non-vested shares, end of year			971						25.12

Schedule of Performance Share-Based Compensation

A summary of the Company's performance units is presented below (shares in thousands):

			Total shareholder return awards						Operating return on equity awards						Operating earnings per share awards
Awards outstanding at December 31, 2021			203						635						425
Granted in 2022			—						204						204
Additional shares issued pursuant to achieving certain performance criteria (a)			188						186						—
Shares vested in 2022			(389)						(390)						—
Forfeited			—						(24)						(25)
Awards outstanding at December 31, 2022			2						611						604
Granted in 2023			—						215						216
Additional shares issued pursuant to achieving certain performance criteria (a)			—						221						221
Shares vested in 2023			(1)						(443)						(441)
Forfeited			—						(9)						(9)
Awards outstanding at December 31, 2023			1						595						591
Granted in 2024			—						197						197
Additional shares issued pursuant to achieving certain performance criteria (a)			—						68						80
Shares vested in 2024			(1)						(258)						(269)
Forfeited			—						(9)						(9)
Awards outstanding at December 31, 2024			—						593						590

_________________________

(a) The performance units that vested in 2022, 2023 and 2024 provided for a payout of up to 200 percent of the award if certain performance levels were achieved.

Schedule of Earnings Per Share Reconciliation

A reconciliation of net income and shares used to calculate basic and diluted earnings per share is as follows (dollars in millions and shares in thousands):

			2024						2023						2022
Net income for basic earnings per share			$	404.0					$	276.5					$	630.6
Shares:
Weighted average shares outstanding for basic earnings per share			106,144						113,275						115,733
Effect of dilutive securities on weighted average shares:
Amounts related to employee benefit plans			1,972						1,849						1,984
Weighted average shares outstanding for diluted earnings per share			108,116						115,124						117,717

Schedule of Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss included in shareholders' equity as of December 31, 2024 and 2023, is comprised of the following (dollars in millions):

			2024						2023
Net unrealized losses on investments having no allowance for credit losses			$	(1,281.6)					$	(1,235.2)
Unrealized losses on investments with an allowance for credit losses			(1,108.7)						(931.0)
Change in discount rates for liability for future policy benefits			624.5						133.4
Change in instrument-specific credit risk for market risk benefits			1.4						4.8
Deferred income tax assets			393.0						451.2
Accumulated other comprehensive loss			$	(1,371.4)					$	(1,576.8)

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