Assurant 2015 Annual Report Download - page 89

Download and view the complete annual report

Please find page 89 of the 2015 Assurant annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 164

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164

ASSURANT, INC. – 2015 Form 10-K F-3
Consolidated Statements of Operations
YEARS ENDED DECEMBER 31, 2015, 2014 AND 2013
(in thousands except number of shares and per share amounts)
Years Ended December 31,
2015
2014
2013
Revenues
Net earned premiums $ 8,350,997 $ 8,632,142 $ 7,759,796
Net investment income 626,217 656,429 650,296
Net realized gains on investments, excluding other-than-temporary
impairment losses 36,850 60,813 38,912
Total other-than-temporary impairment losses (7,212)(69)(4,516)
Portion of net loss recognized in other comprehensive income, before taxes 2,188 39 129
Net other-than-temporary impairment losses recognized in earnings (5,024)(30)(4,387)
Amortization of deferred gain on disposal of businesses 12,988 (1,506)16,310
Fees and other income 1,303,466 1,033,805 586,730
TOTAL REVENUES 10,325,494 10,381,653 9,047,657
Benets, losses and expenses
Policyholder benets 4,742,535 4,405,333 3,675,532
Amortization of deferred acquisition costs and value of business acquired 1,402,573 1,485,558 1,470,287
Underwriting, general and administrative expenses 3,924,089 3,688,230 3,034,404
Interest expense 55,116 58,395 77,735
TOTAL BENEFITS, LOSSES AND EXPENSES 10,124,313 9,637,516 8,257,958
Income before provision for income taxes 201,181 744,137 789,699
Provision for income taxes 59,626 273,230 300,792
NET INCOME $ 141,555 $ 470,907 $ 488,907
Earnings Per Share
Basic $ 2.08 $ 6.52 $ 6.38
Diluted $ 2.05 $ 6.44 $ 6.30
Dividends per share $ 1.37 $ 1.06 $ 0.96
Share Data
Weighted average shares outstanding used in basic per share calculations 68,163,825 72,181,447 76,648,688
Plus: Dilutive securities 853,384 970,563 1,006,076
WEIGHTED AVERAGE SHARES USED IN DILUTED
PER SHARE CALCULATIONS 69,017,209 73,152,010 77,654,764
See the accompanying notes to the consolidated financial statements