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ASSURANT, INC. – 2014 Form 10-KF-2
Consolidated Balance Sheets
AT DECEMBER 31, 2014 AND 2013
(in thousands except number of shares and per share amounts)
December 31,
2014
2013
ASSETS
Investments:
Fixed maturity securities available for sale, at fair value (amortized cost—$10,048,100 in 2014
and $10,520,310 in 2013) $ 11,263,174 $ 11,291,875
Equity securities available for sale, at fair value (cost—$434,875 in 2014 and $417,535 in 2013) 499,407 458,358
Commercial mortgage loans on real estate, at amortized cost 1,272,616 1,287,032
Policy loans 48,272 51,678
Short-term investments 345,246 470,458
Collateral held/pledged under securities agreements 95,985 95,215
Other investments 606,752 589,399
TOTAL INVESTMENTS 14,131,452 14,244,015
Cash and cash equivalents 1,318,656 1,717,184
Premiums and accounts receivable, net 1,445,630 1,080,171
Reinsurance recoverables 7,254,585 5,752,134
Accrued investment income 138,868 145,189
Deferred acquisition costs 2,957,740 3,128,931
Property and equipment, at cost less accumulated depreciation 277,645 253,630
Tax receivable 15,132 —
Goodwill 841,239 784,561
Value of business acquired 45,462 53,549
Other intangible assets, net 381,960 354,636
Other assets 847,860 258,942
Assets held in separate accounts 1,906,237 1,941,747
TOTAL ASSETS $ 31,562,466 $ 29,714,689
LIABILITIES
Future policy benefi ts and expenses $ 9,483,672 $ 8,646,572
Unearned premiums 6,529,675 6,662,672
Claims and benefi ts payable 3,698,606 3,389,371
Commissions payable 487,322 429,636
Reinsurance balances payable 157,089 106,932
Funds held under reinsurance 75,161 76,778
Deferred gain on disposal of businesses 100,817 99,311
Obligation under securities agreements 95,986 95,206
Accounts payable and other liabilities 2,675,515 1,791,496
Tax payable — 3,371
Debt 1,171,079 1,638,118
Liabilities related to separate accounts 1,906,237 1,941,747
TOTAL LIABILITIES 26,381,159 24,881,210
Commitments and contingencies (Note 25)
STOCKHOLDERS’ EQUITY
Common stock, par value $0.01 per share, 800,000,000 shares authorized, 69,299,559 and
71,828,208 shares outstanding at December 31, 2014 and December 31, 2013, respectively 1,490 1,482
Additional paid-in capital 3,131,274 3,087,533
Retained earnings 4,809,287 4,415,875
Accumulated other comprehensive income 555,767 426,830
Treasury stock, at cost; 79,338,142 and 76,039,652 shares at December 31, 2014 and December 31,
2013, respectively (3,316,511) (3,098,241)
Total stockholders’ equity 5,181,307 4,833,479
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 31,562,466 $ 29,714,689
See the accompanying notes to the consolidated financial statements