Unum Group
For the period ended Dec 31, 2023. Filed Feb 20, 2024.
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FY2023 · Filed Feb 20, 2024
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Valuation and Qualifying Accounts
SCHEDULE V--VALUATION AND QUALIFYING ACCOUNTS
| Description | Balance at Beginning of Year | Additions Charged to Costs and Expenses | Deductions1 | Balance at End of Year |
|---|---|---|---|---|
| (in millions of dollars) | ||||
| Allowance for expected credit losses (deducted from accounts and premiums receivable) | $32.5 | $11.3 | $14.3 | $29.5 |
| Allowance for expected credit losses (deducted from reinsurance recoverable) | $1.7 | $0.1 | $0.1 | $1.7 |
| Allowance for expected credit losses (deducted from accounts and premiums receivable) | $34.2 | $10.8 | $12.5 | $32.5 |
| Allowance for expected credit losses (deducted from reinsurance recoverable) | $2.3 | $— | $0.6 | $1.7 |
| Allowance for expected credit losses (deducted from accounts and premiums receivable) | $38.8 | $18.2 | $22.8 | $34.2 |
| Allowance for expected credit losses (deducted from reinsurance recoverable) | $11.7 | $0.7 | $10.1 | $2.3 |
1 Deductions include amounts deemed to reduce exposure of expected losses on premium and accounts receivables and reinsurance recoverable, amounts deemed uncollectible, and amounts related to fluctuations in the foreign currency exchange rate.
Certain items not reported above include the allowance for expected credit losses on mortgage loans, the allowance for credit losses on fixed maturity securities, and the deferred tax asset valuation allowance. See Notes 3 and 9 of the "Notes to Consolidated Financial Statements" contained herein in Item 8 for a discussion of these items.
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