Assurant 2010 Annual Report Download - page 72

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F-2 ASSURANT, INC.2010 Form 10K
Consolidated Balance Sheets
AT DECEMBER 31, 2010 AND 2009
(in thousands except number of shares and per share amounts)
December 31, 2010 December 31, 2009
ASSETS
Investments:
Fixed maturity securities available for sale, at fair value (amortized cost—$10,009,320 in 2010
and $9,684,083 in 2009) $ 10,612,552 $ 9,966,772
Equity securities available for sale, at fair value (cost—$452,648 in 2010 and $514,349
in 2009) 466,954 512,987
Commercial mortgage loans on real estate, at amortized cost 1,320,964 1,428,027
Policy loans 56,142 56,407
Short-term investments 358,702 453,469
Collateral held under securities lending 122,219 218,129
Other investments 567,945 522,041
Total investments 13,505,478 13,157,832
Cash and cash equivalents 1,150,516 1,318,552
Premiums and accounts receivable, net 542,927 507,933
Reinsurance recoverables 4,997,316 4,231,734
Accrued investment income 147,069 155,757
Deferred acquisition costs 2,493,422 2,504,654
Property and equipment, at cost less accumulated depreciation 267,169 275,420
Deferred income taxes, net 76,430 167,240
Goodwill 619,779 926,398
Value of business acquired 82,208 94,632
Other assets 514,333 548,183
Assets held in separate accounts 2,000,371 1,972,332
TOTAL ASSETS $ 26,397,018 $ 25,860,667
LIABILITIES
Future policy benefi ts and expenses $ 8,105,153 $ 7,349,633
Unearned premiums 5,063,999 5,153,564
Claims and benefi ts payable 3,351,169 3,366,327
Commissions payable 275,409 218,060
Reinsurance balances payable 104,333 96,001
Funds withheld under reinsurance 65,894 67,700
Deferred gain on disposal of businesses 154,493 164,899
Obligation under securities lending 122,931 220,279
Accounts payable and other liabilities 1,353,863 1,388,279
Tax payable 41,702 30,126
Debt 972,164 972,058
Mandatorily redeemable preferred stock 5,000 8,160
Liabilities related to separate accounts 2,000,371 1,972,332
TOTAL LIABILITIES 21,616,481 21,007,418
Commitments and contingencies (Note 26)
STOCKHOLDERS’ EQUITY
Common stock, par value $0.01 per share, 800,000,000 shares authorized, 102,000,371
and 116,648,714 shares outstanding at December 31, 2010 and 2009, respectively 1,453 1,447
Additional paid-in capital 2,993,957 2,962,883
Retained earnings 3,264,025 3,054,466
Accumulated other comprehensive income 285,524 65,925
Treasury stock, at cost; 43,344,638 and 28,119,993 shares at December 31, 2010 and 2009,
respectively (1,764,422) (1,231,472)
Total stockholders’ equity 4,780,537 4,853,249
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 26,397,018 $ 25,860,667
See the accompanying notes to the consolidated financial statements.