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Leases (Tables) | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Lease, Cost | The following table presents operating lease right-of-use assets and lease liabilities.
(Dollars in Millions) |  | Dec 31, 2024 |  | Dec 31, 2023
Operating Lease Right-of-Use Assets |  | $ | 33.9 |  |  | $ | 38.4 |
Operating Lease Liabilities |  | 51.6 |  |  | 62.3 |
Lease expenses are included in Insurance and Other Expenses in the Consolidated Statements of Income (Loss). Additional information regarding the Company’s operating leases for the year ended December 31, 2024 and 2023 is presented below.
(Dollars in Millions) |  | 2024 |  | 2023
Lease Cost: |  |  |  |
Operating Lease Cost |  | $ | 15.5 |  |  | $ | 15.7 |
Variable Lease Cost |  | 4.7 |  |  | 3.2 |
Short-Term Lease Cost 1 |  | 1.1 |  |  | 0.3 |
Total Lease Cost |  | $ | 21.3 |  |  | $ | 19.2 |
1 Leases with an initial term of twelve months or less are not recorded on the Consolidated Balance Sheets.
|  | 2024 |  | 2023
Weighted-average Remaining Lease Term - Operating Leases |  | 4.5 years |  | 5.5 years
Weighted-average Discount Rate - Operating Leases |  | 4.5 | % |  | 4.3 | %
DOLLARS IN MILLIONS |  | 2024 |  | 2023
Operating Lease Right-of-Use Assets |  | $ | 7.2 |  |  | $ | 7.7 |
Operating Lease Liabilities |  | 21.3 |  |  | 23.3 |
Supplemental cash flow information related to Kemper’s operating leases for the year-ended December 31, 2024 and December 31, 2023 respectively are presented follows.
DOLLARS IN MILLIONS |  | 2024 |  | 2023
Operating Cash Flows from Operating Leases (Fixed Payments) |  | $ | 3.0 |  |  | $ | 5.8 |
Operating Cash Flows from Operating Leases (Liability Reduction) |  | 2.1 |  |  | 4.8 |
Significant judgments and assumptions for determining lease asset and liability as December 31, 2024 and December 31, 2023 respectively are presented below.
DOLLARS IN MILLIONS |  | 2024 |  | 2023
Weighted-average Remaining Lease Term - Operating Leases |  | 9.0 years |  | 10.0 years
Weighted-average Discount Rate - Operating Leases |  | 4.0 | % |  | 4.1 | %
Schedule of Future Minimum Lease Payments for Operating Leases | Future minimum lease payments under operating leases at December 31, 2024 are presented below.
(Dollars in Millions) |  |  |  |
2025 |  |  |  | $ | 18.2 |
2026 |  |  |  | 11.3 |
2027 |  |  |  | 9.9 |
2028 |  |  |  | 7.1 |
2029 |  |  |  | 5.4 |
2030 and Thereafter |  |  |  | 12.9 |
Total Future Payments |  |  |  | $ | 64.8 |
Less: Discount |  |  |  | 13.2 |
Present Value of Minimum Lease Payments |  |  |  | $ | 51.6 |
Future minimum operating lease payments at December 31, 2024 were:
DOLLARS IN MILLIONS |  | Operating Leases
2025 |  | $ | 2.6 |
2026 |  | 2.6 |
2027 |  | 2.7 |
2028 |  | 2.8 |
2029 |  | 2.8 |
2030 and Thereafter |  | 12.1 |
Total Future Payments |  | $ | 25.6 |
Less Discount |  | 4.3 |
Present Value of Minimum Lease Payments |  | $ | 21.3 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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