KEMPER Corp
For the period ended Sep 30, 2024. Filed Oct 30, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 30, 2024
KMPR$34.39+3.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows for the
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Nine Months Ended | ||
|---|---|---|
| Sep 30,2024 | Sep 30,2023 | |
| Cash Flows from Operating Activities: | ||
| Net Income (Loss) | $216.8 | $(323.6) |
| Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by (Used in) Operating Activities | ||
| Net Realized Investment (Gains) Losses | (9.2) | 38.3 |
| Impairment Losses | 3.8 | (0.1) |
| Depreciation and Amortization of Property, Equipment and Software | 33.3 | 39.1 |
| Amortization of Intangibles Assets Acquired | 7.5 | 11.0 |
| Settlement Related to Defined Benefit Pension Plan | (2.6) | 70.2 |
| Change in Accumulated Undistributed Earnings of Equity Method Limited Liability Investments | 24.7 | (2.9) |
| Change in Value of Alternative Energy Partnership Investments | (1.5) | (2.3) |
| Change in Fair Value of Equity and Convertible Securities | 0.1 | (6.9) |
| Goodwill Impairment | — | 49.6 |
| Changes in: | ||
| Receivables from Policyholders | (28.4) | 184.0 |
| Reinsurance Recoverables | 4.6 | 11.6 |
| Deferred Policy Acquisition Costs | (30.3) | 13.4 |
| Insurance Reserves | (43.1) | 7.9 |
| Unearned Premiums | (2.9) | (219.3) |
| Income Taxes | 42.5 | 27.5 |
| Other Assets and Liabilities | (7.5) | (2.0) |
| Net Cash Provided by (Used in) Operating Activities | 207.8 | (104.5) |
| Cash Flows from Investing Activities: | ||
| Proceeds from the Sales, Calls and Maturities of Fixed Maturities | 929.2 | 529.8 |
| Proceeds from the Sales or Paydowns of Investments: | ||
| Equity Securities | 15.8 | 73.9 |
| Mortgage Loans | 96.5 | 68.9 |
| Other Investments | 10.9 | 11.2 |
| Purchases of Investments: | ||
| Fixed Maturities | (792.2) | (362.7) |
| Equity Securities | (12.1) | (40.1) |
| Real Estate Investments | (0.9) | (0.8) |
| Mortgage Loans | (87.8) | (76.6) |
| Other Investments | (40.7) | (15.9) |
| Net Purchases of Short-term Investments | (184.1) | (136.5) |
| Acquisition of Software and Long-lived Assets | (43.5) | (39.1) |
| Settlement Proceeds from Company-Owned Life Insurance | 6.2 | 102.2 |
| Other | 13.1 | (9.1) |
| Net Cash (Used in) Provided by Investing Activities | (89.6) | 105.2 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
| Nine Months Ended | ||
|---|---|---|
| Sep 30,2024 | Sep 30,2023 | |
| Net Cash (Used in) Provided by Investing Activities (Carryforward from page 8) | (89.6) | 105.2 |
| Cash Flows from Financing Activities: | ||
| Proceeds from Policyholder Contract Obligations | 62.8 | 123.3 |
| Repayment of Policyholder Contract Obligations | (100.6) | (168.4) |
| Proceeds from Shares Issued under Employee Stock Purchase Plan | 2.9 | 3.3 |
| Common Stock Repurchases | (25.0) | — |
| Dividends Paid | (60.1) | (59.8) |
| Other | (5.4) | 0.9 |
| Net Cash Used in Financing Activities | (125.4) | (100.7) |
| Net increase (decrease) in cash1 | (7.2) | (100.0) |
| Cash, Beginning of Year1 | 64.1 | 212.4 |
| Cash, End of Period1 | $56.9 | $112.4 |
| 1Includes amounts attributable to Kemper Reciprocal reported as non-controlling interest. | ||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
| Nine Months Ended | ||
|---|---|---|
| Sep 30,2024 | Sep 30,2023 | |
| Cash (paid) received during the year for: | ||
| Interest | $(52.0) | $(47.2) |
| Taxes | (10.5) | 113.5 |
| Operating Leases | (16.4) | (19.6) |
| Non-Cash Activities: | ||
| Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities | $8.5 | $6.6 |
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
(In millions, except per share amounts)
| Number ofShares | CommonStock | Paid-inCapital | RetainedEarnings | Accumulated Other Comprehensive (Loss) Income | Noncontrolling Interest | TotalShareholders’Equity | |
|---|---|---|---|---|---|---|---|
| Balance, June 30, 2024 | 64.4 | $6.4 | $1,860.9 | $1,121.2 | $(317.3) | $(1.9) | $2,669.3 |
| Net Income | — | — | — | 73.7 | — | (1.5) | 72.2 |
| Other Comprehensive Income, Net of Taxes (Note 12) | — | — | — | — | 64.8 | — | 64.8 |
| Cash Dividends and Dividend Equivalents to Shareholders ($0.31 per share) | — | — | — | (20.3) | — | — | (20.3) |
| Repurchases of Common Stock (Note 13) | (0.4) | — | (11.8) | (13.2) | — | — | (25.0) |
| Shares Issued Under Employee Stock Purchase Plan (Note 13) | — | — | 0.9 | — | — | — | 0.9 |
| Equity-based Compensation Cost | — | — | 7.6 | — | — | — | 7.6 |
| Equity-based Awards, Net of Shares Exchanged | — | — | 0.4 | — | — | — | 0.4 |
| Other Changes in Non-Controlling Interest | — | — | — | — | — | 0.5 | 0.5 |
| Balance, September 30, 2024 | 64.0 | $6.4 | $1,858.0 | $1,161.4 | $(252.5) | $(2.9) | $2,770.4 |
| Number ofShares | CommonStock | Paid-inCapital | RetainedEarnings | Accumulated Other Comprehensive (Loss) Income | Noncontrolling Interest | TotalShareholders’Equity | |
|---|---|---|---|---|---|---|---|
| Balance, June 30, 2023 | 64.0 | $6.4 | $1,837.6 | $1,149.0 | $(480.8) | $— | $2,512.2 |
| Net Loss | — | — | — | (146.3) | — | (0.1) | (146.4) |
| Other Comprehensive Income, Net of Taxes (Note 12) | — | — | — | — | 7.4 | — | 7.4 |
| Cash Dividends and Dividend Equivalents to Shareholders ($0.31 per share) | — | — | — | (20.2) | — | — | (20.2) |
| Shares Issued Under Employee Stock Purchase Plan (Note 13) | 0.1 | — | 1.0 | — | — | — | 1.0 |
| Equity-based Compensation Cost | — | — | 7.3 | — | — | — | 7.3 |
| Equity-based Awards, Net of Shares Exchanged | — | — | — | (0.1) | — | — | (0.1) |
| Balance, September 30, 2023 | 64.1 | $6.4 | $1,845.9 | $982.4 | $(473.4) | $(0.1) | $2,361.2 |
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Continued)
(In millions, except per share amounts)
| Number ofShares | CommonStock | Paid-inCapital | RetainedEarnings | Accumulated Other Comprehensive (Loss) Income | Noncontrolling Interest | TotalShareholders’Equity | |
|---|---|---|---|---|---|---|---|
| Balance, December 31, 2023 | 64.1 | $6.4 | $1,845.3 | $1,014.3 | $(360.8) | $(0.2) | $2,505.0 |
| Net Income | — | — | — | 220.4 | — | (3.6) | 216.8 |
| Other Comprehensive Income, Net of Taxes (Note 12) | — | — | — | — | 108.3 | — | 108.3 |
| Cash Dividends and Dividend Equivalents to Shareholders ($0.93 per share) | — | — | — | (60.1) | — | — | (60.1) |
| Repurchases of Common Stock (Note 13) | (0.4) | — | (11.8) | (13.2) | — | — | (25.0) |
| Shares Issued Under Employee Stock Purchase Plan (Note 13) | — | — | 2.9 | — | — | — | 2.9 |
| Equity-based Compensation Cost | — | — | 27.1 | — | — | — | 27.1 |
| Equity-based Awards, Net of Shares Exchanged | 0.3 | — | (5.5) | — | — | — | (5.5) |
| Other Changes in Non-Controlling Interest | — | — | — | — | — | 0.9 | 0.9 |
| Balance, September 30, 2024 | 64.0 | $6.4 | $1,858.0 | $1,161.4 | $(252.5) | $(2.9) | $2,770.4 |
| Number ofShares | CommonStock | Paid-inCapital | RetainedEarnings | Accumulated Other Comprehensive (Loss) Income | Noncontrolling Interest | TotalShareholders’Equity | |
|---|---|---|---|---|---|---|---|
| Balance, December 31, 2022 | 63.9 | $6.4 | $1,812.7 | $1,366.4 | $(514.9) | $— | $2,670.6 |
| Net Loss | — | — | — | (323.5) | — | (0.1) | (323.6) |
| Other Comprehensive Income, Net of Taxes (Note 12) | — | — | — | — | 41.5 | — | 41.5 |
| Cash Dividends and Dividend Equivalents to Shareholders ($0.93 per share) | — | — | — | (59.8) | — | — | (59.8) |
| Shares Issued Under Employee Stock Purchase Plan (Note 13) | 0.1 | — | 3.2 | — | — | — | 3.2 |
| Equity-based Compensation Cost | — | — | 30.0 | — | — | — | 30.0 |
| Equity-based Awards, Net of Shares Exchanged | 0.1 | — | — | (0.7) | — | — | (0.7) |
| Balance, September 30, 2023 | 64.1 | $6.4 | $1,845.9 | $982.4 | $(473.4) | $(0.1) | $2,361.2 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.