Assurant 2014 Annual Report Download - page 91

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ASSURANT, INC. – 2014 Form10-K F-3
Consolidated Statements of Operations
YEARS ENDED DECEMBER 31, 2014, 2013 AND 2012
(in thousands except number of shares and per share amounts)
Years Ended December 31,
2014
2013
2012
Revenues
Net earned premiums $ 8,632,142 $ 7,759,796 $ 7,236,984
Net investment income 656,429 650,296 713,128
Net realized gains on investments, excluding other-than-temporary
impairment losses 60,813 38,912 66,196
Total other-than-temporary impairment losses (69) (4,516) (1,939)
Portion of net loss recognized in other comprehensive income, before taxes 39 129 96
Net other-than-temporary impairment losses recognized in earnings (30) (4,387) (1,843)
Amortization of deferred gain on disposal of businesses (1,506) 16,310 18,413
Fees and other income 1,033,805 586,730 475,392
TOTAL REVENUES 10,381,653 9,047,657 8,508,270
Benefi ts, losses and expenses
Policyholder benefi ts 4,405,333 3,675,532 3,655,404
Amortization of deferred acquisition costs and value of business acquired 1,485,558 1,470,287 1,403,215
Underwriting, general and administrative expenses 3,688,230 3,034,404 2,631,594
Interest expense 58,395 77,735 60,306
TOTAL BENEFITS, LOSSES AND EXPENSES 9,637,516 8,257,958 7,750,519
Income before provision for income taxes 744,137 789,699 757,751
Provision for income taxes 273,230 300,792 274,046
NET INCOME $ 470,907 $488,907 $ 483,705
Earnings Per Share
Basic $ 6.52 $ 6.38 $ 5.74
Diluted $ 6.44 $ 6.30 $ 5.67
Dividends per share $ 1.06 $ 0.96 $ 0.81
Share Data
Weighted average shares outstanding used in basic per share calculations 72,181,447 76,648,688 84,276,427
Plus: Dilutive securities 970,563 1,006,076 1,030,638
WEIGHTED AVERAGE SHARES USED IN DILUTED
PER SHARE CALCULATIONS 73,152,010 77,654,764 85,307,065
See the accompanying notes to the consolidated financial statements