v3.22.2.2
Consolidated Statements of Operations (unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Net earned premiums $ 2,197.1 $ 2,140.1 $ 6,502.4 $ 6,396.3
Fees and other income 294.6 309.6 942.2 858.0
Net investment income 83.5 76.0 261.8 235.2
Net realized (losses) gains on investments (including $—, $—, $(2.1) and $0.2 of impairment-related (losses) gains for the three and nine months ended September 30, 2022 and 2021, respectively) and fair value changes to equity securities (27.4) 112.1 (166.2) 123.2
Total revenues 2,547.8 2,637.8 7,540.2 7,612.7
Benefits, losses and expenses        
Policyholder benefits 670.5 617.4 1,760.5 1,684.2
Underwriting, selling, general and administrative expenses 1,842.5 1,784.0 5,444.8 5,210.4
Interest expense 26.3 27.5 80.4 84.7
Loss on extinguishment of debt 0.0 20.7 0.9 20.7
Total benefits, losses and expenses 2,539.3 2,449.6 7,286.6 7,000.0
Income from continuing operations before income tax expense 8.5 188.2 253.6 612.7
Income tax expense 1.2 37.2 45.1 133.8
Net income from continuing operations attributable to stockholders 7.3 151.0 208.5 478.9
Net income from discontinued operations (Note 4) 0.0 728.8 0.0 762.0
Net income attributable to stockholders 7.3 879.8 208.5 1,240.9
Less: Preferred stock dividends 0.0 0.0 0.0 (4.7)
Net income (loss) attributable to common stockholders, basic 7.3 879.8 208.5 1,236.2
Net income (loss) attributable to common stockholders, diluted $ 7.3 $ 879.8 $ 208.5 $ 1,236.2
Basic        
Net income from continuing operations (in dollars per share) $ 0.14 $ 2.56 $ 3.81 $ 7.94
Net income (loss) from discontinued operations (in dollars per share) 0 12.32 0 12.74
Net income (loss) attributable to common stockholders (in dollars per share) 0.14 14.88 3.81 20.68
Diluted        
Net income from continuing operations (in dollars per share) 0.14 2.54 3.78 7.87
Net income (loss) from discontinued operations (in dollars per share) 0 12.25 0 12.52
Net income (loss) attributable to common stockholders (in dollars per share) $ 0.14 $ 14.79 $ 3.78 $ 20.39
Share Data        
Weighted average common shares outstanding used in basic per common share calculations (in shares) 53,717,373 59,126,313 54,693,799 59,769,690
Plus: Dilutive securities (in shares) 349,232 353,151 431,051 1,085,631
Weighted average common shares outstanding used in diluted per common share calculations (in shares) 54,066,605 59,479,464 55,124,850 60,855,321