Unum Group
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
UNM$81.24+1.3%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31 | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (in millions of dollars) | |||
| Cash Flows from Operating Activities | |||
| Net Income | $1,779.1 | $1,283.8 | $1,407.2 |
| Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities | |||
| Change in Receivables | 623.9 | 602.7 | 590.6 |
| Change in Deferred Acquisition Costs | (130.5) | (150.8) | (135.8) |
| Change in Insurance Liabilities | (780.9) | (313.2) | (244.7) |
| Change in Income Taxes | 97.6 | (84.3) | (31.3) |
| Change in Other Accrued Liabilities | (32.3) | (74.8) | (113.9) |
| Non-cash Components of Net Investment Income | (248.9) | (240.3) | (247.0) |
| Net Investment Loss | 34.6 | 36.0 | 15.7 |
| Depreciation | 116.1 | 108.8 | 110.5 |
| Amortization of the Cost of Reinsurance | 41.4 | 44.1 | 50.3 |
| Other, Net | 13.1 | (9.2) | 17.1 |
| Net Cash Provided by Operating Activities | 1,513.2 | 1,202.8 | 1,418.7 |
| Cash Flows from Investing Activities | |||
| Proceeds from Sales of Fixed Maturity Securities | 877.3 | 1,062.7 | 559.5 |
| Proceeds from Maturities of Fixed Maturity Securities | 1,483.0 | 1,578.1 | 1,532.5 |
| Proceeds from Sales and Maturities of Other Investments | 332.1 | 360.0 | 445.9 |
| Purchase of Fixed Maturity Securities | (2,001.7) | (2,991.4) | (2,835.3) |
| Purchase of Other Investments | (319.1) | (361.2) | (482.9) |
| Net Purchases of Short-term Investments | (842.1) | (141.0) | (22.6) |
| Net Increase (Decrease) in Payables for Collateral on Investments | 251.8 | (98.3) | (50.8) |
| Net Purchases of Property and Equipment | (125.7) | (134.8) | (102.2) |
| Net Cash Used by Investing Activities | (344.4) | (725.9) | (955.9) |
| Cash Flows from Financing Activities | |||
| Short-term Debt Repayment | — | (2.0) | — |
| Issuance of Long-term Debt | 391.6 | — | 349.2 |
| Long-term Debt Repayment | (350.0) | — | (364.0) |
| Cost Related to Early Retirement of Debt | — | — | (3.6) |
| Issuance of Common Stock | 6.0 | 5.2 | 4.0 |
| Repurchase of Common Stock | (972.9) | (250.1) | (200.1) |
| Dividends Paid to Stockholders | (296.5) | (277.1) | (254.2) |
| Proceeds from Policyholders' Account Deposits | 133.2 | 143.4 | 119.8 |
| Payments for Policyholders' Account Withdrawals | (82.7) | (87.0) | (72.0) |
| Cash Received Related to Active Life Volatility Cover Agreement | 26.7 | 18.6 | 5.2 |
| Other, Net | (7.4) | (1.1) | (2.9) |
| Net Cash Used by Financing Activities | (1,152.0) | (450.1) | (418.6) |
| Net Increase in Cash and Bank Deposits | 16.8 | 26.8 | 44.2 |
| Cash and Bank Deposits at Beginning of Year | 146.0 | 119.2 | 75.0 |
| Cash and Bank Deposits at End of Year | $162.8 | $146.0 | $119.2 |
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