Assurant 2014 Annual Report Download - page 148

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ASSURANT, INC. – 2014 Form 10-KF-60
22 Segment Information
Year Ended December 31, 2012
Solutions
Specialty
Property Health
Employee
Benefi ts
Corporate
& Other
Consolidated
Revenues
Net earned premiums $ 2,579,220 $ 2,054,041 $ 1,589,459 $ 1,014,264 $ — $ 7,236,984
Net investment income 396,681 103,327 64,308 128,485 20,327 713,128
Net realized gains on investments ————64,353 64,353
Amortization of deferred gain on disposal of
businesses ————18,413 18,413
Fees and other income 314,072 98,621 30,518 28,468 3,713 475,392
Total revenues 3,289,973 2,255,989 1,684,285 1,171,217 106,806 8,508,270
Benefi ts, losses and expenses
Policyholder benefi ts 840,133 949,157 1,174,108 693,067 (1,061) 3,655,404
Amortization of deferred acquisition costs and
value of business acquired 1,050,585 326,466 441 25,721 2 1,403,215
Underwriting, general and administrative
expenses 1,217,401 517,822 420,629 364,321 111,421 2,631,594
Interest expense — — — — 60,306 60,306
Total benefi ts, losses and expenses 3,108,119 1,793,445 1,595,178 1,083,109 170,668 7,750,519
Segment income (loss) before provision (benefi t)
for income taxes 181,854 462,544 89,107 88,108 (63,862) 757,751
Provision (benefi t) for income taxes 58,101 157,593 37,107 30,049 (8,804) 274,046
Segment income (loss) after taxes $ 123,753 $304,951 $52,000 $58,059 $(55,058)
Net income $ 483,705
Segment assets:
Segment assets, excluding goodwill $ 12,342,077 $ 4,207,746 $ 882,731 $ 2,366,097 $ 8,507,242 $ 28,305,893
Goodwill 640,714
TOTAL ASSETS $ 28,946,607
The Company operates primarily in the U.S. and Canada, but also in select international markets.
The following table summarizes selected fi nancial information by geographic location for the years ended or as of December 31:
Location Revenues
Long-lived
assets
2014
United States $ 8,874,820 $ 272,555
Foreign countries 1,506,833 5,090
TOTAL $ 10,381,653 $ 277,645
2013
United States $ 7,792,728 $ 248,331
Foreign countries 1,254,929 5,299
TOTAL $ 9,047,657 $ 253,630
2012
United States $ 7,382,252 $ 243,253
Foreign countries 1,126,018 7,543
TOTAL $ 8,508,270 $ 250,796
Revenue is based in the country where the product was sold and long-lived assets, which are primarily property and equipment,
are based on the physical location of those assets. The Company has no reportable major customers.