UnumProvident Corporation reported net income of $171.3 million for the second quarter of 2005, compared to $7.2 million for the same period last year. Various lines of business within the company's segments saw improved or stable performance. The CEO commented that while challenges remain, momentum and confidence in the future is building as operational improvements are implemented.
Conference poster presented at the 'Research in Distance Education' conference on 9 February 2009
Exploring the extent to which student interaction through asynchronous
computer-mediated conferencing (ACMC) leads to the social construction of knowledge and higher order critical inquiry.
Conference poster presented at the 'Research in Distance Education' conference on 9 February 2009
Exploring the extent to which student interaction through asynchronous
computer-mediated conferencing (ACMC) leads to the social construction of knowledge and higher order critical inquiry.
Pensiero Desiderante e Ruminazione nelle Dipendenze PatologicheGabriele Caselli
Presentazione al convegno "Cocaina e le nuove droghe: comprensione e trattamento efficace", organizzato dalla scuola di psicoterapia cognitiva e cognitivo comportamentale Studi Cognitivi il 21 maggio 2011 a Milano.
Gabriele Caselli
Psicoterapeuta Cognitivo Comportamentale, Modena.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdf
unum group 2Q 05
1. NEWS RELEASE
For additional Thomas A. H. White
FOR IMMEDIATE RELEASE information contact: Senior Vice President, Investor Relations
423.294.8996
Linnea R. Olsen
Director, Investor Relations
410.872.8970
August 2, 2005 Jim Sabourin
Vice President, Corporate Communications
423.294.6043
UnumProvident Corporation Reports
Second Quarter 2005 Results
Chattanooga, TN – UnumProvident Corporation (NYSE: UNM) announced today its results for the
second quarter of 2005.
The Company reported net income of $171.3 million ($0.55 per diluted common share) for the
second quarter of 2005, compared to $7.2 million ($0.02 per diluted common share) for the second quarter of
2004. Included in the results for the second quarter of 2005 are net realized after tax investment gains of
$42.6 million ($0.13 per diluted common share), compared to net realized after tax investment losses of $55.9
million ($0.18 per diluted common share) in the second quarter of 2004. Included in net realized after tax
investment gains and losses are after tax gains of $40.6 million in the second quarter of 2005 and after tax
losses of $48.9 million in the second quarter of 2004 reflecting the change in the fair value of DIG Issue B36
derivatives.
Also included in the second quarter of 2004 is the impact of the closing of the sale of the Company’s
Canadian branch, which resulted in a net loss from discontinued operations of $67.8 million after tax ($0.23
per diluted common share).
Income from continuing operations, excluding net realized after tax investment gains and losses, was
$128.7 million ($0.42 per diluted common share) in the second quarter of 2005, compared to $130.9 million
($0.43 per diluted common share) in the second quarter of 2004. The Company believes operating income or
2. loss, a non-GAAP financial measure which excludes realized investment gains and losses, is a better
performance measure and a better indicator of the profitability and underlying trends in the business.
Realized investment gains and losses are dependent on market conditions and general economic events and
are not necessarily related to decisions regarding the Company’s underlying business. For a reconciliation to
the most directly comparable GAAP measures, refer to the attached digest of earnings.
“Our second quarter results reflect continued earnings improvement for most of our operations and
further indications that we are beginning to restore growth to selected areas of the business,” said Thomas R.
Watjen, president and chief executive officer. “One of the areas which adversely impacted our results this
year is some disruption to our claims management process as we implemented changes in that area. I am
pleased that we saw steady improvement in this area throughout the quarter, and I expect that to continue in
the second half of the year. In short, we continued to build momentum in the second quarter and although
challenges remain, our confidence in the future is building.”
Results by Segment
In the following discussions of the Company’s segment operating results, “operating revenue”
excludes net realized investment gains and losses. “Operating income” or “operating loss” excludes income
tax, net realized investment gains and losses, and results of discontinued operations.
The Income Protection segment reported operating income of $91.8 million in the second quarter of
2005, compared to $90.8 million in the second quarter of 2004.
Within the segment, the group income protection line reported operating income of $53.6 million in
the second quarter of 2005, compared to $49.4 million in the prior year second quarter. The benefit ratio for
the group income protection line was 90.0 percent in the second quarter of 2005, compared to 89.4 percent in
the second quarter of 2004 and 90.5 percent in the first quarter of 2005. Claim recoveries and the timing of
claim decisions continued to be adversely impacted by the implementation of the organizational and
procedural changes the Company made in response to the multistate regulatory settlement agreements entered
into during the fourth quarter of 2004 and other process improvement initiatives. Management has assessed
the changes in practice that disrupted the claim decision process for both new claims and open claims and
identified aspects of the procedural or organizational changes in the agreements or their operational
implementation that need to be addressed to eliminate the delay in making claim decisions. Certain of these
procedural and organizational changes have been addressed, and while the disruption has not been eliminated,
progress was made during the second quarter in restoring operational effectiveness. The Company currently
believes this disruption is temporary and will not impact its long-term expectation for claim recovery rates.
However, if the operational improvement the Company has projected occurs at a slower rate, there is likely to
be some additional costs in its claim operations over the next several quarters. While the impact of the
3. disruption reduced the operating income in the Company’s U.S. group long-term income protection line of
business in the second quarter of 2005 relative to the year ago quarter, the overall results in this business line
reflect improved earnings in the group long-term income protection business in the Company’s U.K.
subsidiary, Unum Limited, and in the U.S. group short-term income protection line of business.
Also within this segment, the recently issued individual income protection line of business reported
operating income of $22.3 million in the second quarter of 2005, compared to operating income of $24.6
million in the second quarter of 2004. The decline in earnings primarily reflects lower net investment income
which more than offset a decline in the benefit ratio relative to the prior year second quarter results.
The long-term care line, which includes the results of both group and individual long-term care,
reported operating income of $12.5 million in the second quarter of 2005, compared to $12.7 million in the
second quarter of 2004. Finally, the disability management services line of business reported operating
income of $3.4 million in the second quarter of 2005, compared to $4.1 million in the second quarter of 2004.
Premium income for the Income Protection segment increased slightly to $1,037.7 million in the
second quarter of 2005, compared to $1,024.5 million in the second quarter of 2004. Within this segment,
new annualized sales (submitted date basis) for group long-term income protection fully insured products
increased 18.0 percent to $86.5 million in the second quarter of 2005 from $73.3 million in the second quarter
of 2004. The increase was attributable to higher sales in both the U.S. operations and Unum Limited in the
U.K. New annualized sales (submitted date basis) for group short-term income protection fully insured
products declined 13.0 percent to $14.7 million in the second quarter of 2005 from $16.9 million in the
second quarter of 2004 due to lower large case sales. New annualized sales (paid for basis) for recently
issued individual income protection increased 5.2 percent to $24.1 million in the second quarter of 2005 from
$22.9 million in the second quarter of 2004.
Premium persistency in the Company’s U.S. group long-term income protection business was 83.2
percent for the second quarter of 2005, compared to 84.8 percent for the full year 2004. This decline is
consistent with the Company’s efforts to re-price portions of its in-force business in order to improve its
profitability. Persistency in the Company’s group short-term income protection line of business was 80.1
percent for the second quarter of 2005, compared to 80.6 percent for full year 2004.
The Life and Accident segment reported operating income of $64.3 million in the second quarter of
2005, compared to $58.6 million in the second quarter of 2004. The improved performance is primarily
attributable to improved performance in the accidental death & dismemberment, voluntary life and other, and
U.K. group life lines of business.
Premium income in this segment declined 4.7 percent to $472.7 million in the second quarter of 2005,
compared to $496.2 million in the second quarter of 2004. New annualized sales (submitted date basis) in
4. this segment declined 27.9 percent to $61.2 million in the second quarter of 2005, compared to $84.9 million
in the second quarter of 2004.
Premium persistency in the Company’s U.S. group life line of business was 75.0 percent for the
second quarter of 2005, compared to 84.0 percent for full year 2004. The decline in persistency was due to
higher terminations of some larger cases which had been targeted for significant rate increases.
The Colonial segment reported operating income of $43.6 million in the second quarter of 2005,
compared to $39.4 million in the second quarter of 2004. The benefit ratio for this segment improved to 53.8
percent in the second quarter of 2005, compared to 55.2 percent in the second quarter of 2004, primarily due
to a lower benefit ratio for the life product line. Premium income for this segment increased 6.3 percent to
$195.6 million in the second quarter of 2005, compared to $184.0 million in the second quarter of 2004. New
annualized sales in this segment increased 4.3 percent to $65.9 million in the second quarter of 2005 from
$63.2 million in the second quarter of 2004.
The Individual Income Protection – Closed Block segment reported operating income of $27.7
million in the second quarter of 2005, compared to $30.0 million in the second quarter of 2004. The benefit
ratio was slightly higher in the second quarter of 2005 compared to the second quarter of 2004, reflecting
lower claim recoveries and generally stable claim incidence trends. Operating expenses in the second quarter
of 2005 increased relative to the year ago quarter due to the payment of a judgment in a lawsuit. Premium
income for this segment was $232.8 million in the second quarter of 2005, compared to $249.2 million in the
second quarter of 2004 due to the expected decline in this closed block of business.
The Other segment, which includes results from products no longer actively marketed, reported
operating income of $10.5 million in each of the second quarters of 2005 and 2004.
The Corporate segment, which includes investment earnings on corporate assets not specifically
allocated to a line of business, corporate interest expense, and certain other corporate expenses, reported a loss
of $37.6 million in the second quarter of 2005, compared to a loss of $30.7 million in the second quarter of
2004, which included a $9.4 million curtailment gain related to changes in the Company’s retiree medical
plan.
The Company’s average number of shares outstanding used to calculate the per diluted common share
results was 309,108,296 for the second quarter of 2005, compared to 301,478,204 for the second quarter of
2004.
Book value per common share at June 30, 2005 was $26.37, compared to $21.01 at June 30, 2004.
UnumProvident Corporation senior management will host a conference call on Wednesday, August 3
at 9:00 a.m. (eastern) to discuss the results of operations for the second quarter and may include forward-
5. looking information, such as guidance on future results or trends in operations, as well as other material
information. The dial-in number is (888) 283-6901. Alternatively, a live webcast of the call will be available
at www.unumprovident.com in a listen-only mode. About fifteen minutes prior to the start of the call, you
should access the “Investor and Shareholder Information” section of our website. A replay of the call will be
available by telephone and on our website through Tuesday, August 9. In addition, the Company’s Statistical
Supplement for the second quarter of 2005 is available on the Company’s website.
UnumProvident is the largest provider of group and individual income protection insurance in the
United States and United Kingdom. Through its subsidiaries, UnumProvident insures more than 25 million
people and provided $5.9 billion in total benefits to customers in 2004. With primary offices in Chattanooga,
Tennessee, and Portland, Maine, the Company employs more than 11,600 people worldwide. For more
information, visit www.unumprovident.com.
A “safe harbor” is provided for “forward-looking statements” under the Private Securities Litigation
Reform Act of 1995. Statements in this press release, which are not historical facts, are forward-looking
statements that involve risks and uncertainties that could cause actual results to differ materially from those
contained in the forward-looking statements. These risks and uncertainties include such general matters as
general economic or business conditions; events or consequences relating to terrorism and acts of war;
competitive factors, including pricing pressures; legislative, regulatory, or tax changes; and the interest rate
environment. More specifically, they include fluctuations in insurance reserve liabilities, projected new sales
and renewals, persistency rates, incidence and recovery rates, pricing and underwriting projections and
experience, retained risks in reinsurance operations, availability and cost of reinsurance, level and results of
litigation, rating agency actions, regulatory actions and investigations, negative media attention, the level of
pension benefit costs and funding, investment results, including credit deterioration of investments, and
effectiveness of product and customer support. For further information of risks and uncertainties that could
affect actual results, see the sections entitled “Cautionary Statement Regarding Forward-Looking Statements”
and “Risk Factors” in the Company’s Form 10-K for the fiscal year ended December 31, 2004 and
subsequently filed Form 10-Qs. The forward-looking statements are being made as of the date of this press
release and the Company expressly disclaims any obligation to update any forward-looking statement
contained herein.
###
6. DIGEST OF EARNINGS
(Unaudited)
UnumProvident Corporation (UNM:NYSE)
and Subsidiaries
($ in millions, except share data)
Three Months Ended June 30 Six Months Ended June 30
2005 2004 2005 2004
Operating Revenue by Segment $ 2,591.2 $ 2,595.8 $ 5,166.3 $ 5,194.1
Net Realized Investment Gain (Loss) 65.5 (86.5) 62.3 (61.1)
Total Revenue $ 2,656.7 $ 2,509.3 $ 5,228.6 $ 5,133.0
Operating Income (Loss) by Segment $ 200.3 $ 198.6 $ 385.1 $ (597.0)
Net Realized Investment Gain (Loss) 65.5 (86.5) 62.3 (61.1)
Income Tax (Benefit) 94.5 37.1 123.9 (163.8)
Income (Loss) from Continuing Operations 171.3 75.0 323.5 (494.3)
Loss from Discontinued Operations, Net of Tax - (67.8) - (60.8)
Net Income (Loss) $ 171.3 $ 7.2 $ 323.5 $ (555.1)
PER SHARE INFORMATION
Assuming Dilution:
Income (Loss) from Continuing Operations $ 0.55 $ 0.25 $ 1.05 $ (1.67)
Loss from Discontinued Operations, Net of Tax - (0.23) - (0.21)
Net Income (Loss) $ 0.55 $ 0.02 $ 1.05 $ (1.88)
Basic:
Income (Loss) from Continuing Operations $ 0.58 $ 0.25 $ 1.09 $ (1.67)
Loss from Discontinued Operations, Net of Tax - (0.23) - (0.21)
Net Income (Loss) $ 0.58 $ 0.02 $ 1.09 $ (1.88)
Weighted Average Common Shares - Basic (000s) 295,606.4 295,161.3 295,558.6 295,092.3
Weighted Average Common Shares - Assuming Dilution (000s) 309,108.3 301,478.2 308,365.2 295,092.3
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
Three Months Ended June 30, 2005 Three Months Ended June 30, 2004
(in millions) Per Share * (in millions) Per Share *
Income from Continuing Operations, excluding Net Realized
Investment Gains and Losses $ 128.7 $ 0.42 $ 130.9 $ 0.43
Net Realized Investment Gain (Loss) 65.5 0.21 (86.5) (0.28)
Income Tax Benefit (Expense) on Net Realized Investment Gain (Loss) (22.9) (0.08) 30.6 0.10
Income from Continuing Operations, Net of Tax $ 171.3 $ 0.55 $ 75.0 $ 0.25
* Assuming Dilution