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OTHER OPERATING STATEMENT DATA (Tables)

12 Months Ended

Dec. 31, 2024

Insurance [Abstract]

Schedule of Insurance Policy Income

Insurance policy income consisted of the following (dollars in millions):

			2024						2023						2022
Direct premiums collected (a)			$	4,857.8					$	4,574.9					$	4,619.7
Reinsurance assumed			15.5						16.6						18.6
Reinsurance ceded			(191.8)						(194.6)						(214.6)
Premiums collected, net of reinsurance			4,681.5						4,396.9						4,423.7
Change in unearned premiums			(9.1)						18.5						9.8
Less premiums on interest-sensitive life and products without mortality and morbidity risk which are recorded as additions to insurance liabilities (a)			(2,333.0)						(2,111.7)						(2,123.6)
Premiums on traditional products with mortality or morbidity risk			2,339.4						2,303.7						2,309.9
Fees and surrender charges on interest-sensitive products			219.1						201.8						189.9
Insurance policy income			$	2,558.5					$	2,505.5					$	2,499.8

________________

(a)     Excludes $1,599.2 million of funds received from the issuance of funding agreements pursuant to our FABN program for the year ended December 31, 2024 and $899.0 million for the year ended December 31, 2022.

Schedule of Other Operating Cost and Expense

Other operating costs and expenses were as follows (dollars in millions):

			2024						2023						2022
Commission expense			$	121.8					$	111.1					$	114.2
Salaries and wages			304.5						290.9						287.9
Other			629.0						646.3						548.8
Total other operating costs and expenses			$	1,055.3					$	1,048.3					$	950.9

Schedule of Changes in Deferred Acquisition Costs

Changes in deferred acquisition costs were as follows (dollars in millions):

						2024
						Fixed indexed annuities						Fixed interest annuities						Supplemental health						Medicare supplement						Long-term care						Interest-sensitive life						Traditional life						Funding agreements						Total
Beginning of period						$	407.6					$	27.0					$	408.0					$	157.5					$	140.3					$	234.5					$	471.9					$	4.5					$	1,851.3
Capitalizations						99.2						14.0						64.6						26.0						23.1						37.1						117.6						7.8						389.4
Amortization expense						(56.8)						(5.1)						(34.5)						(26.1)						(14.8)						(15.6)						(60.0)						(2.4)						(215.3)
End of period						$	450.0					$	35.9					$	438.1					$	157.4					$	148.6					$	256.0					$	529.5					$	9.9					$	2,025.4

						2023
						Fixed indexed annuities						Fixed interest annuities						Supplemental health						Medicare supplement						Long-term care						Interest-sensitive life						Traditional life						Funding agreements						Total
Beginning of period						$	365.6					$	19.6					$	378.8					$	161.2					$	137.9					$	212.2					$	409.1					$	6.0					$	1,690.4
Capitalizations						88.9						11.3						60.6						24.1						17.5						36.8						114.3						—						353.5
Amortization expense						(46.9)						(3.9)						(31.4)						(27.8)						(15.1)						(14.5)						(51.5)						(1.5)						(192.6)
End of period						$	407.6					$	27.0					$	408.0					$	157.5					$	140.3					$	234.5					$	471.9					$	4.5					$	1,851.3

						2022
						Fixed indexed annuities						Fixed interest annuities						Supplemental health						Medicare supplement						Long-term care						Interest-sensitive life						Traditional life						Funding agreements						Total
Beginning of period						$	313.0					$	19.0					$	357.5					$	170.2					$	136.4					$	196.3					$	357.6					$	3.3					$	1,553.3
Capitalizations						92.8						4.1						50.5						20.7						16.8						29.8						94.6						4.2						313.5
Amortization expense						(40.2)						(3.5)						(29.2)						(29.7)						(15.3)						(13.9)						(43.1)						(1.5)						(176.4)
End of period						$	365.6					$	19.6					$	378.8					$	161.2					$	137.9					$	212.2					$	409.1					$	6.0					$	1,690.4

Schedule of Changes in Present Value of Future Insurance Profits

Changes in the present value of future profits were as follows (dollars in millions):

						2024
						Supplemental health						Medicare supplement						Long-term care						Traditional life						Fixed indexed annuities						Fixed interest annuities						Total
Beginning of period						$	141.0					$	20.6					$	5.2					$	12.9					$	0.7					$	0.3					$	180.7
Amortization expense						(12.2)						(4.9)						(0.8)						(1.6)						(0.2)						—						(19.7)
End of period						$	128.8					$	15.7					$	4.4					$	11.3					$	0.5					$	0.3					$	161.0

						2023
						Supplemental health						Medicare supplement						Long-term care						Traditional life						Fixed indexed annuities						Fixed interest annuities						Total
Beginning of period						$	154.0					$	27.5					$	6.2					$	14.8					$	0.8					$	0.4					$	203.7
Amortization expense						(13.0)						(6.9)						(1.0)						(1.9)						(0.1)						(0.1)						(23.0)
End of period						$	141.0					$	20.6					$	5.2					$	12.9					$	0.7					$	0.3					$	180.7

						2022
						Supplemental health						Medicare supplement						Long-term care						Traditional life						Fixed indexed annuities						Fixed interest annuities						Total
Beginning of period						$	168.1					$	36.5					$	7.3					$	16.9					$	0.9					$	0.4					$	230.1
Amortization expense						(14.1)						(9.0)						(1.1)						(2.1)						(0.1)						—						(26.4)
End of period						$	154.0					$	27.5					$	6.2					$	14.8					$	0.8					$	0.4					$	203.7

Based on current conditions and assumptions as to future events on all policies inforce, the Company expects to amortize approximately 10 percent of the December 31, 2024 balance of the present value of future profits in 2025, 9 percent in 2026, 8 percent in 2027, 7 percent in 2028 and 7 percent in 2029.

Changes in sales inducements were as follows (dollars in millions):

						2024
						Fixed indexed annuities						Fixed interest annuities						Total
Beginning of period						$	88.5					$	4.6					$	93.1
Capitalizations						54.9						1.4						56.3
Amortization expense						(15.3)						(0.9)						(16.2)
End of period						$	128.1					$	5.1					$	133.2

						2023
						Fixed indexed annuities						Fixed interest annuities						Total
Beginning of period						$	76.0					$	4.5					$	80.5
Capitalizations						23.5						0.9						24.4
Amortization expense						(11.0)						(0.8)						(11.8)
End of period						$	88.5					$	4.6					$	93.1

						2022
						Fixed indexed annuities						Fixed interest annuities						Total
Beginning of period						$	63.0					$	5.0					$	68.0
Capitalizations						22.1						0.4						22.5
Amortization expense						(9.1)						(0.9)						(10.0)
End of period						$	76.0					$	4.5					$	80.5

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Tabular disclosure of each detailed component of other operating costs and expenses that are applicable to sales and revenues, but not included in the cost of sales in the income statement.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

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