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ASSURANT, INC.2012 Form10-K F-15
3 Business Combinations
On December31, 2011, the Company adopted the new guidance related
to the presentation of comprehensive income.  is guidance provides
two alternatives for presenting comprehensive income. An entity can
report comprehensive income either in a single continuous  nancial
statement or in two separate but consecutive  nancial statements. Each
component of net income and each component of other comprehensive
income, together with totals for comprehensive income and its two
parts, net income and other comprehensive income, are displayed
under either alternative.  e statement(s) are to be presented with
equal prominence as the other primary  nancial statements.  e new
guidance eliminates the Company’s previously applied option to report
other comprehensive income and its components in the statement of
changes in stockholders’ equity.  e guidance does not change the
items that constitute net income or other comprehensive income,
and does not change when an item of other comprehensive income
must be reclassi ed to net income.  e Company chose to early adopt
this guidance and therefore is reporting comprehensive income in a
separate but consecutive statement, with full retrospective application
as required by the guidance.  e adoption of the new presentation
requirements did not have an impact on the Company’s  nancial
position or results of operations.
On October1, 2011, the Company adopted the amended intangibles-
goodwill and other guidance.  is guidance allows an entity to  rst assess
qualitative factors to determine whether it is necessary to perform the
two-step quantitative goodwill impairment test. Under this amended
guidance, an entity would not be required to calculate the fair value
of a reporting unit unless the entity determines, based on a qualitative
assessment, that it is more likely than not that its fair value is less than
its carrying amount.  e amended guidance includes a number of events
and circumstances for an entity to consider in conducting the qualitative
assessment.  e Company chose to early adopt the revised standard and
applied the amended guidance to its fourth quarter annual goodwill
impairment test.  e adoption of the amended guidance results in a
change to the procedures for assessing goodwill impairment and did
not have an impact on the Company’s  nancial position or results of
operations. See Notes2 and 10 for more information.
On January1, 2011, the Company adopted the new guidance on
multiple deliverable revenue arrangements.  is guidance requires
entities to use their best estimate of the selling price of a deliverable
within a multiple deliverable revenue arrangement if the entity and other
entities do not sell the deliverable separate from the other deliverables
within the arrangement. In addition, it requires both qualitative and
quantitative disclosures.  e adoption of this guidance did not have
an impact on the Company’s  nancial position or results of operations.
Recent Accounting Pronouncements—Not Yet
Adopted
In July2011, the Financial Accounting Standards Board (“FASB”) issued
amendments to the other expenses guidance to address how health
insurers should recognize and classify in their income statements fees
mandated by the A ordable Care Act.  e A ordable Care Act imposes
an annual fee on health insurers for each calendar year beginning on or
after January1, 2014.  e amendments specify that the liability for the
fee should be estimated and recorded in full once the entity provides
qualifying health insurance in the applicable calendar year in which the
fee is payable with a corresponding deferred cost that is amortized to
expense ratably over the calendar year during which it is payable.  e
guidance is e ective for calendar years beginning after December31,
2013, when the fee initially becomes e ective. erefore, the Company
is required to adopt this guidance on January1, 2014.  e Company
is currently evaluating the requirements of the amendments and the
potential impact on the Company’s  nancial position and results of
operations.
3. Business Combinations
ere were no material business combinations in 2012.
On June21, 2011, in an all cash transaction, the Company acquired
the SureDeposit business, the leading provider of security deposit
alternatives to the multi-family housing industry, for $45,080. In
connection with the acquisition, the Company recorded $25,350 of
intangible assets, all of which are amortizable, and $19,608 of goodwill.
e primary factor contributing to the recognition of goodwill is the
future expected growth of this business.  is acquisition expands the
multi-family housing product o ering and associated cross-selling
opportunities with existing clients for the Assurant Specialty Property
segment.
ere were three acquisitions made in 2010 that individually and in
the aggregate were immaterial.