Sun Life 2012 Annual Report Download - page 51

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Discontinued Operations
As described in the section titled Impact of Decision to Sell U.S. Annuity Business, on December 17, 2012, we entered into a definitive
stock purchase agreement to sell our U.S. Annuity Business, including all of the issued and outstanding shares of Sun Life (U.S.). Our
U.S. Annuity Business includes our domestic U.S. variable annuity, fixed annuity and fixed indexed annuity products, corporate and
bank-owned life insurance products and variable life insurance products. The transaction is subject to regulatory approvals and other
closing conditions and is expected to close before the end of the second quarter of 2013.
The following tables set out the financial information associated with the Discontinued Operations.
(C$ millions, unless otherwise noted) 2012 2011
Net Income - Reported
Net income from discontinued operations 180 (595)
Diluted EPS from discontinued operations ($) 0.30 (1.03)
Basic EPS from discontinued operations ($) 0.30 (1.03)
Revenue
Net premiums 282 1,076
Net investment income 457 1,118
Fee income 589 557
Total revenue 1,328 2,751
Premiums and deposits
Net premium revenue 282 1,076
Segregated fund deposits 392 2,674
Mutual fund sales ––
Managed fund sales ––
ASO premium and deposit equivalents ––
Total premiums and deposits 674 3,750
Benefits and expenses
Gross claims and benefits paid 1,835 1,744
Changes in insurance/investment contract liabilities and reinsurance assets (net of reinsurance
recoveries) (1,276) 503
Net transfer to (from) segregated funds 268 766
Commissions 91 238
Operating expenses 149 318
Impairment of goodwill and intangible assets 10 103
Other 411
Total benefits and expenses 1,081 3,683
Assets
General fund 15,067
Segregated funds 27,668
Total assets 42,735
Liabilities
General fund 12,689
Segregated funds 27,668
Total liabilities 40,357
Cash flows provided by (used in):
Operating activities (473) 500
Investing activities 57 (98)
Financing Activities (5) (238)
Net cash, cash equivalents and short-term securities 574
Management’s Discussion and Analysis Sun Life Financial Inc. Annual Report 2012 49