ASSURANT, INC.
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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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, 2025 · Filed Nov 6, 2025
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12. Earnings Per Common Share
- Earnings Per Common Share
The following table presents net income, the weighted average common shares used in calculating basic EPS and those used in calculating diluted EPS for each period presented below. Diluted EPS reflects the incremental common shares from common shares issuable upon vesting of performance share units (“PSUs”) and the purchase of shares under the Employee Stock Purchase Plan (the “ESPP”) using the treasury stock method. The outstanding restricted stock units (“RSUs”) have non-forfeitable rights to dividend equivalents and are therefore included in calculating basic and diluted EPS under the two-class method.
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Numerator | ||||
| Net income | $265.6 | $133.8 | $647.5 | $558.9 |
| Less: Common stock dividends paid | (40.6) | (37.5) | (124.2) | (114.8) |
| Undistributed earnings | $225.0 | $96.3 | $523.3 | $444.1 |
| Denominator | ||||
| Weighted average common shares outstanding used in basic per common share calculations | 50,831,664 | 52,204,057 | 51,081,220 | 52,411,457 |
| Incremental common shares from: | ||||
| PSUs | 488,827 | 257,221 | 525,846 | 291,630 |
| ESPP | — | 3,244 | — | 1,787 |
| Weighted average common shares outstanding used in diluted per common share calculations | 51,320,491 | 52,464,522 | 51,607,066 | 52,704,874 |
| Earnings per common share – Basic | ||||
| Distributed earnings | $0.80 | $0.72 | $2.43 | $2.19 |
| Undistributed earnings | 4.42 | 1.84 | 10.24 | 8.47 |
| Net income | $5.22 | $2.56 | $12.67 | $10.66 |
| Earnings per common share – Diluted | ||||
| Distributed earnings | $0.79 | $0.71 | $2.41 | $2.17 |
| Undistributed earnings | 4.38 | 1.84 | 10.14 | 8.43 |
| Net income | $5.17 | $2.55 | $12.55 | $10.60 |
Average PSUs totaling 42,539 and 61,250 for the three months ended September 30, 2025 and 2024, respectively, were anti-dilutive and thus not included in the computation of diluted EPS under the treasury stock method. Average PSUs totaling 46,455 and 46,551 for the nine months ended September 30, 2025 and 2024, respectively, were anti-dilutive and thus not included in the computation of diluted EPS under the treasury stock method.
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