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Dispositions | 9 Months Ended
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Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Dispositions | Dispositions Disposition of Reserve National Insurance Company In July 2022, the Company entered into a definitive agreement to sell Reserve National Insurance Company and its wholly-owned subsidiaries (collectively, “RNIC”) to Medical Mutual of Ohio for $90.0 million in total consideration. In connection with the pending sale, an expected loss of $2.0 million, or $1.6 million net of income tax, was recorded for the nine and three months ended September 30, 2022, which is reflected in Interest and Other Expenses on the Condensed Consolidated Statements of Income (Loss). Prior to measuring the Held for Sale loss, the goodwill assigned to the reporting unit was tested for impairment. Using the agreed upon sale price as the disposal unit’s fair value, an impairment of $4.5 million was recognized. RNIC’s results of operations are reported in the Life & Health segment’s adjusted earnings through September 30, 2022. See Note 1, “Basis of Presentation and Accounting Policies”, for information on accounting for divested business. The transaction is expected to receive all necessary regulatory approval and close late in the fourth quarter of 2022. The pending disposition meets the criteria for held-for-sale accounting but does not meet the criteria to be classified as discontinued operations. As a result, the related assets and liabilities are included in the separate held-for-sale line items of the asset and liability sections of the interim condensed consolidated balance sheet.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2122178 + Details
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