Unum 2006 Annual Report Download - page 175
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued
Unum Group and Subsidiaries
157
Note 17 - Quarterly Results of Operations (Unaudited) - Continued
Items affecting the comparability of our financial results by quarter are as follows:
• The fourth quarter of 2006 includes an income tax benefit of $91.9 million primarily as the result of group
relief benefits obtained from the use of net operating losses in a foreign jurisdiction in which our businesses
operate.
• The third and first quarters of 2006 include claim reassessment charges of $325.4 million and $86.0 million
before tax, respectively, and $211.5 million and $55.9 million after tax, respectively.
• The third quarter of 2006 includes broker compensation settlement expenses of $18.5 million before tax
and $12.7 million after tax.
• The third quarter of 2005 includes claim reassessment charges of $75.0 million before tax and $51.6
million after tax.
• The third and first quarters of 2005 include income tax benefits of $10.8 million and $32.0 million,
respectively, related to the reduction of income tax liabilities.
See Notes 8, 9, and 15 for further discussion of the above items.
Financial results previously reported were revised in the preceding table for the classification of GENEX, our
disability management services business, as a discontinued operation, as discussed in Notes 1 and 2. Premium
income, net investment income, net realized investment gain (loss), and net income (loss) did not change as a result
of the classification. The financial results for GENEX, which prior to the fourth quarter of 2006 were included in
our results from continuing operations, are presented below. The financial results for the fourth quarter of 2006 are
also presented for comparative purposes.
4t
h
3r
d
2n
d
1s
t
Total Revenue 45.8$ 45.6$ 46.3$ 45.8$
Income Before Income Tax 3.7 2.8 3.3 3.4
Net Income Per Common Share
Basic 0.01 - 0.01 0.01
Assuming Dilution 0.01 - 0.01 0.01
4t
h
3r
d
2n
d
1s
t
Total Revenue 44.5$ 44.2$ 44.9$ 44.3$
Income Before Income Tax 4.2 4.9 3.4 3.2
Net Income Per Common Share
Basic 0.01 0.01 - -
Assuming Dilution 0.01 0.01 - -
2006
(in millions of dollars, except share data)
2005
(in millions of dollars, except share data)