Unum Group

For the period ended Dec 31, 2023. Filed Feb 20, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 20, 2024

UNM$80.23+4.5%Stored close · as of Nov 9, 2026

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Contents

Condensed Financial Information of Registrant

SCHEDULE II--CONDENSED FINANCIAL INFORMATION OF REGISTRANT

BALANCE SHEETS

	December 31
	2023	2022
(in millions of dollars)
Assets
Fixed Maturity Securities - at fair value (amortized cost: $656.2; $748.1)	$596.1	$657.7
Other Long-term Investments	27.0	19.3
Short-term Investments	970.9	845.8
Investment in Subsidiaries	11,663.6	10,815.7
Deferred Income Tax	118.1	114.9
Other Assets	593.6	555.5
Total Assets	$13,969.3	$13,008.9
Liabilities and Stockholders' Equity
Liabilities
Short-term Debt	$—	$2.0
Long-term Debt	3,430.4	3,427.8
Pension and Postretirement Benefits	350.2	352.6
Other Liabilities	537.3	491.5
Total Liabilities	4,317.9	4,273.9
Stockholders' Equity
Common Stock, $0.10 par
Authorized: 725,000,000 shares
Issued: 194,588,625 and 308,306,490 shares	19.4	30.8
Additional Paid-in Capital	1,547.8	2,441.0
Accumulated Other Comprehensive Loss	(3,308.0)	(3,448.3)
Retained Earnings	11,431.5	13,141.3
Treasury Stock - at cost: 1,216,528 and 110,551,977 shares	(39.3)	(3,429.8)
Total Stockholders' Equity	9,651.4	8,735.0
Total Liabilities and Stockholders' Equity	$13,969.3	$13,008.9

SCHEDULE II--CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Continued)

STATEMENTS OF INCOME

	Year Ended December 31
	2023	2022	2021
(in millions of dollars)
Cash Dividends from Subsidiaries	$1,581.1	$1,306.6	$909.8
Non-Cash Dividends from Subsidiaries	—	23.0	719.6
Other Income	90.3	81.8	53.5
Total Revenue	1,671.4	1,411.4	1,682.9
Interest and Debt Expense	194.8	188.5	185.9
Cost Related to Early Retirement of Debt	—	4.2	67.3
Other Expenses	54.2	35.6	39.1
Total Expenses	249.0	228.3	292.3
Income of Parent Company Before Income Tax	1,422.4	1,183.1	1,390.6
Income Tax Expense (Benefit)	(9.5)	14.7	(24.1)
Income of Parent Company	1,431.9	1,168.4	1,414.7
Equity in Undistributed Earnings (Loss) of Subsidiaries	(148.1)	238.8	(433.7)
Net Income	1,283.8	1,407.2	981.0
Other Comprehensive Income, Net of Tax	140.3	1,716.3	1,145.6
Comprehensive Income	$1,424.1	$3,123.5	$2,126.6

SCHEDULE II--CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Continued)

STATEMENTS OF CASH FLOWS

	Year Ended December 31
	2023	2022	2021
(in millions of dollars)
Cash Provided by Operating Activities	$1,548.0	$1,250.2	$861.0
Cash Flows from Investing Activities
Proceeds from Sales and Maturities of Fixed Maturity Securities	97.1	192.1	245.5
Proceeds from Sales and Maturities of Other Investments	23.9	7.4	20.1
Purchase of Fixed Maturity Securities	(44.5)	(102.7)	(2.0)
Purchase of Other Investments	(23.4)	(32.0)	(0.9)
Net Purchases of Short-term Investments	(104.4)	(209.6)	(465.0)
Cash Distributions to Subsidiaries	(854.5)	(540.2)	(300.9)
Net Purchases of Property and Equipment	(113.1)	(94.0)	(91.3)
Cash Used by Investing Activities	(1,018.9)	(779.0)	(594.5)
Cash Flows from Financing Activities
Short-term Debt Repayment	(2.0)	—	—
Issuance of Long-term Debt	—	349.2	588.1
Long-term Debt Repayment	—	(364.0)	(500.0)
Cost Related to Early Retirement of Debt	—	(3.6)	(62.8)
Issuance of Common Stock	5.2	4.0	3.4
Repurchase of Common Stock	(250.1)	(200.1)	(50.0)
Dividends Paid to Stockholders	(277.1)	(254.2)	(239.4)
Other, Net	—	0.7	(1.6)
Cash Used by Financing Activities	(524.0)	(468.0)	(262.3)
Increase in Cash	$5.1	$3.2	$4.2

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