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ASSURANT, INC.2012 Form10-KF-2
Consolidated Balance Sheets
AT DECEMBER 31, 2012 AND 2011
(in thousands except number of shares and per share amounts)
Years Ended December31,
2012
2011
ASSETS
Investments:
Fixed maturity securities available for sale, at fair value (amortized cost—$10,728,714 in 2012
and$10,123,429 in 2011) $ 12,171,638 $ 11,192,599
Equity securities available for sale, at fair value (cost—$422,703 in 2012 and $357,411 in 2011) 475,806 362,376
Commercial mortgage loans on real estate, at amortized cost 1,311,682 1,309,687
Policy loans 52,938 54,192
Short-term investments 300,925 441,383
Collateral held/pledged under securities agreements 94,729 95,221
Other investments 568,600 570,707
TOTAL INVESTMENTS 14,976,318 14,026,165
Cash and cash equivalents 909,404 1,166,713
Premiums and accounts receivable, net 830,027 649,122
Reinsurance recoverables 6,141,737 5,411,064
Accrued investment income 149,032 153,783
Deferred acquisition costs 2,861,163 2,492,857
Property and equipment, at cost less accumulated depreciation 250,796 242,908
Deferred income taxes, net 0 44,280
Tax receivable 32,740 0
Goodwill 640,714 639,097
Value of business acquired 62,109 71,014
Other intangible assets, net 262,994 303,832
Other assets 97,700 124,298
Assets held in separate accounts 1,731,873 1,694,729
TOTAL ASSETS $ 28,946,607 $ 27,019,862
LIABILITIES
Future policy bene ts and expenses $ 8,513,505 $ 8,359,206
Unearned premiums 6,192,260 5,482,017
Claims and bene ts payable 3,960,590 3,437,119
Commissions payable 339,680 260,022
Reinsurance balances payable 103,808 130,144
Funds held under reinsurance 61,413 64,413
Deferred gain on disposal of businesses 115,620 134,033
Obligation under securities agreements 94,714 95,494
Accounts payable and other liabilities 1,514,091 1,486,026
Deferred income taxes, net 161,288 0
Tax payable 0 30,431
Debt 972,399 972,278
Liabilities related to separate accounts 1,731,873 1,694,729
TOTAL LIABILITIES 23,761,241 22,145,912
Commitments and contingencies (Note24)
STOCKHOLDERS’ EQUITY
Common stock, par value $0.01 per share, 800,000,000 shares authorized, 78,664,029 and 88,524,374
sharesoutstanding at December31, 2012 and 2011, respectively 1,474 1,464
Additional paid-in capital 3,052,454 3,025,477
Retained earnings 4,001,096 3,586,784
Accumulated other comprehensive income 830,403 557,576
Treasury stock, at cost; 68,332,638 and 57,433,178 shares at December31, 2012 and 2011, respectively (2,700,061) (2,297,351)
Total stockholders’ equity 5,185,366 4,873,950
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 28,946,607 $ 27,019,862
See the accompanying notes to the consolidated financial statements