Stockholders' Equity and Earnings Per Common Share (Tables)

Net income per common share is determined as follows:


	Three Months Ended June 30				Six Months Ended June 30
	2026		2025		2026		2025
	(in millions of dollars, except share data)
Numerator
Net Income	$	256.9	$	335.6	$	488.9	$	524.7

Denominator (000s)
Weighted Average Common Shares - Basic	159,660.2		174,110.9		161,848.1		176,142.6
Dilution for Assumed Exercises of Nonvested Stock Awards	363.9		321.0		344.8		456.0
Weighted Average Common Shares - Assuming Dilution	160,024.1		174,431.9		162,192.9		176,598.6

Net Income Per Common Share
Basic	$	1.61	$	1.93	$	3.02	$	2.98
Assuming Dilution	$	1.61	$	1.92	$	3.01	$	2.97

Common stock repurchases, which are accounted for using the cost method and classified as treasury stock until otherwise retired, were as follows:


	Three Months Ended June 30				Six Months Ended June 30
	2026		2025		2026		2025
	(in millions)
Shares Repurchased1	2.5		3.8		7.9		7.1
Cost of Shares Repurchased2	$	202.1	$	303.3	$	604.5	$	505.9

1For the six months ended June 30, 2025, includes 0.7 million shares related to the settlement of the November 2024 accelerated share repurchase agreement (ASR) which occurred in February 2025.

2Includes $0.2 million and $0.3 million of commissions for the three and six months ended June 30, 2026, respectively, and $0.4 million and $0.9 million of commissions for the three and six months ended June 30, 2025. Also includes $2.0 million and $5.7 million of excise tax for the three and six months ended June 30, 2026, respectively, and $2.9 million and $5.0 million of excise tax for the three and six months ended June 30, 2025, respectively.

As a part of our share repurchase program, we periodically enter into accelerated share repurchase agreements. Under the terms of these agreements, we make a prepayment to a financial counterparty for which we receive an initial delivery of approximately 75 percent of the total Unum Group common stock to be delivered under the agreement. We simultaneously enter into a forward contract indexed to the price of Unum Group common stock, which subjects the transactions to a future price adjustment. Under the terms of the agreements, we are to receive, or be required to pay, a price adjustment based on the volume weighted average price of Unum Group common stock during the term of the agreement, less a discount. Any price adjustment payable to us is settled in shares of Unum Group common stock. Any price adjustment we would be required to pay may be settled in either cash or common stock at our option. In November 2024, we paid $321.0 million to a financial counterparty as a part of an accelerated share repurchase agreement. We received an initial delivery of 3.8 million shares of our common stock. The final price adjustment settlement, along with the delivery of the remaining shares, occurred in February 2025, resulting in the delivery to us of 0.7 million additional shares. As a result of the final settlement occurring subsequent to December 31, 2024, we recorded a decrease of $80.3 million to additional paid-in capital within stockholders' equity on our consolidated balance sheet for the value of the shares held back by the counterparty as of December 31, 2024, which was reclassified to treasury stock in the first quarter of 2025 in connection with the final settlement of the agreement.