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168 UNUM • 2014 ANNUAL REPORT
Appendix
Reconciliation of Non-GAAP Financial Measures
Year Ended December 31
(per diluted common share) 2009 2008 2007* 2006* 2005*
After-tax Operating Income $2.64 $2.54 $2.25 $1.85 $1.69
Net Realized Investment Gain (Loss), Net of Tax — (0.89) (0.12) 0.01 (0.02)
Non-operating Retirement-related Loss, Net of Tax (0.09) (0.03) (0.04) (0.05) (0.05)
Regulatory Reassessment Charges, Net of Tax — — (0.10) (0.79) (0.16)
Special Tax Items and Debt Extinguishment Costs, Net of Tax — — (0.10) 0.23 0.14
Other, Net of Tax — — — (0.04) 0.01
Income from Continuing Operations 2.55 1.62 1.89 1.21 1.61
Income from Discontinued Operations — — 0.02 0.02 0.03
Net Income $2.55 $1.62 $1.91 $1.23 $1.64
* Does not reflect the impact of ASU 2010–26.
After-tax Average Operating
Operating Allocated Return
(in millions) Income (Loss) Equity on Equity
Year Ended December 31, 2014
Principal Operating Businesses $873.9 $5,955.8 14.7%
Closed Block 80.9 2,756.3
Corporate (44.4) (713.0)
Total $910.4 $7,999.1 11.4%
After-tax Average Operating
Operating Allocated Return
(in millions) Income Equity on Equity
Year Ended December 31, 2013 $882.5 $7,732.3 11.4%
Year Ended December 31, 2012 887.5 7,241.8 12.3%
Year Ended December 31, 2011 905.4 7,427.0 12.2%
Year Ended December 31, 2010 894.3 7,499.7 11.9%
December 31
(in millions) 2014 2013 2012 2011 2010 2009
Total Stockholders’ Equity, As Reported $8,552.4 $8,659.1 $8,612.6 $8,169.7 $8,484.9 $8,045.0
Net Unrealized Gain on Securities 290.3 135.7 873.5 614.8 416.1 382.7
Net Gain on Cash Flow Hedges 391.0 396.3 401.6 408.7 361.0 370.8
Total Stockholders’ Equity, As Adjusted $7,871.1 $8,127.1 $7,337.5 $7,146.2 $7,707.8 $7,291.5
Average Equity, As Adjusted $7,999.1 $7,732.3 $7,241.8 $7,427.0 $7,499.7
December 31
(per share) 2009 2008
Total Stockholders’ Equity (Book Value) $24.25 $17.94
Net Unrealized Gain (Loss) on Securities 1.16 (2.53)
Net Gain on Cash Flow Hedges 1.12 1.38
Foreign Currency Translation Adjustment (0.23) (0.52)
Unrecognized Pension and Postretirement
Benefit Costs (1.00) (1.23)
Total Stockholders’ Equity, Excluding
Accumulated Other Comprehensive Income $23.20 $20.84