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UNUM 2013 ANNUAL REPORT / 165
Note 16. Quarterly Results of Operations (Unaudited)
The following is a summary of our unaudited quarterly results of operations for 2013 and 2012:
2013
(in millions of dollars, except share data) 4th 3rd 2nd 1st
Premium Income $1,890.7 $1,897.3 $1,905.8 $1,930.9
Net Investment Income 629.4 615.5 626.1 621.1
Net Realized Investment Gain (Loss) 9.3 (26.1) 13.3 10.3
Total Revenue 2,586.2 2,540.9 2,601.9 2,624.8
Income Before Income Tax 305.8 284.1 311.5 303.8
Net Income 221.2 205.7 218.6 212.6
Net Income Per Common Share
Basic 0.85 0.78 0.82 0.79
Assuming Dilution 0.84 0.78 0.82 0.79
2012
(in millions of dollars, except share data) 4th 3rd 2nd 1st
Premium Income $1,937.2 $1,929.4 $1,927.6 $1,921.9
Net Investment Income 643.0 619.2 633.5 619.5
Net Realized Investment Gain (Loss) 24.6 21.3 (2.1) 12.4
Total Revenue 2,658.2 2,628.0 2,617.9 2,611.3
Income Before Income Tax 322.7 320.4 296.4 310.0
Net Income 233.9 230.2 216.4 213.9
Net Income Per Common Share
Basic 0.86 0.83 0.76 0.74
Assuming Dilution 0.85 0.83 0.76 0.73
Items affecting the comparability of our financial results during the fourth quarter of 2013 are as follows:
• A reserve increase of $95.5 million before tax and $62.1 million after tax related to unclaimed death benefits.
• A reserve reduction of $85.0 million before tax and $55.2 million after tax related to group life waiver of premium benefits.
See Notes 6 and 14 for further discussion of the above items.