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F-45ASSURANT, INC.2010 Form 10K
21 Statutory Information
19. Stock Repurchase
e following table shows the shares repurchased during the periods indicated:
Period in 2010 Number of
Shares Purchased Average Price
Paid Per Share
Total Number of Shares
Purchased as Part of Publicly
Announced Programs
January —$ — —
February 1,304,915 30.46 1,304,915
March 2,121,554 32.73 2,121,554
April 1,783,816 35.07 1,783,816
May 1,982,400 35.44 1,982,400
June 2,300,000 35.78 2,300,000
July 1,185,000 36.19 1,185,000
August 52,000 38.11 52,000
September — — —
October — — —
November 2,305,960 35.25 2,305,960
December 2,189,000 37.69 2,189,000
TOTAL 15,224,645 $ 35.01 15,224,645
On November 10, 2006, the Company’s Board of Directors authorized
the Company to repurchase up to $600,000 of its outstanding common
stock.  is authorization was increased by an additional $600,000 on
January 22, 2010. During the year ended December 31, 2010, the
Company repurchased 15,224,645 shares of the Company’s outstanding
common stock at a cost of $532,950.
On January 18, 2011, the Company’s Board of Directors authorized the
Company to repurchase up to an additional $600,000 of its outstanding
common stock, making its total authorization $805,587 at that date.
20. Accumulated Other Comprehensive (Loss) Income
e components of accumulated other comprehensive (loss) income, net of tax, at December 31, are as follows:
Foreign currency
translation
adjustment
Unrealized
(losses) gains
on securities OTTI Pension
under- funding
Accumulated other
comprehensive
(loss) income
Balance at December 31, 2008 $ (45,944) $ (478,400) $ — $ (146,602) $ (670,946)
Cumulative eff ect of change in accounting principle (after-
tax) (1) — (35,359) (7,758) — (43,117)
Activity in 2009 69,856 708,309 14,033 (12,210) 779,988
Balance at December 31, 2009 23,912 194,550 6,275 (158,812) 65,925
Activity in 2010 8,186 218,705 6,292 (13,584) 219,599
BALANCE AT DECEMBER 31, 2010 $ 32,098 $ 413,255 $ 12,567 $ 172,396 $ 285,524
(1) Relates to the adoption of the OTTI guidance for debt securities. See Notes 5 and 6 for further information.
e amounts in the unrealized (losses) gains on securities column are net
of reclassifi cation adjustments of $26,544, $(26,209) and $(225,333),
net of tax, in 2010, 2009 and 2008, respectively, for net realized gains
(losses) on sales of securities included in net income.  e amounts in
the OTTI column are net of reclassifi cation adjustments of $(1,034)
and $(4,992) net of tax, in 2010 and 2009 respectively, for net realized
losses on sales of securities included in net income.
21. Statutory Information
e Company’s insurance subsidiaries prepare fi nancial statements on the
basis of statutory accounting practices (“SAP”) prescribed or permitted
by the insurance departments of their states of domicile. Prescribed
SAP includes the Accounting Practices and Procedures Manual of the
National Association of Insurance Commissioners (“NAIC”) as well
as state laws, regulations and administrative rules.
e principal diff erences between SAP and GAAP are: 1) policy
acquisition costs are expensed as incurred under SAP, but are deferred
and amortized under GAAP; 2) the value of business acquired is not
capitalized under SAP but is under GAAP; 3) amounts collected from
holders of universal life-type and annuity products are recognized as
premiums when collected under SAP, but are initially recorded as