Unum 2008 Annual Report Download - page 125
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121
Total income tax expense (benefit) is allocated as follows:
December 31
(in millions of dollars) 2007 2006
Income from Continuing Operations $ 324.8 $ 61.8
Income from Discontinued Operations 10.9 5.8
Stockholders’ Equity — Additional Paid-in Capital Stock-Based Compensation (5.8) —
Stockholders’ Equity — Accumulated Other Comprehensive Income (Loss)
Change in Net Unrealized Gains and Losses on Securities (100.4) (273.1)
Change in Net Gain on Cash Flow Hedges (6.0) (39.8)
Change in Foreign Currency Translation Adjustment — (0.3)
Change in Unrecognized Pension and Postretirement Benefit Costs 16.7 11.3
Adjustment to Adopt SFAS 158 — (40.3)
Stockholders’ Equity — Retained Earnings
Adjustment to Adopt SOP 05-1 (232.9) —
Adjustment to Adopt FIN 48 (22.7) —
$ (15.4) $(274.6)
A reconciliation of the income tax expense (benefit) attributable to income from continuing operations before income tax, computed
at U.S. federal statutory tax rates, to the income tax expense (benefit) as included in the consolidated statements of income, is as follows:
December 31
2007 2006
Statutory Income Tax 35.0)% 35.0)%
Prior Year Taxes and Interest (0.2) (2.1)
Tax-exempt Investment Income (1.0) (1.6)
Foreign Net Operating Losses 0.1 (17.9)
Other Foreign Items (1.3) (0.9)
Other Items, Net — 0.8
32.6)% 13.3)%