Horace mann educators corporation (HMN)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Revenues
Premiums and contract charges earned, Net Amount

236,265

240,392

239,681

208,096

209,785

201,905

206,820

205,610

202,998

204,328

198,935

195,718

195,722

194,286

191,050

188,360

185,450

186,953

182,812

182,376

179,739

182,189

179,030

179,138

175,403

176,458

173,761

171,561

169,158

170,784

167,904

166,335

165,504

167,054

167,035

166,345

166,686

168,062

168,430

Net investment income

82,275

85,735

93,071

93,458

92,800

88,459

99,083

97,101

91,864

98,605

92,320

91,994

90,711

90,501

94,847

91,179

84,659

84,276

81,016

83,995

83,313

82,775

82,591

81,405

83,044

80,380

78,466

77,361

77,403

77,345

76,649

76,334

75,675

74,603

71,550

71,689

70,469

68,290

69,065

Realized Investment Gains (Losses)

-18,464

1,746

-2,156

146,333

7,417

-14,427

2,803

735

-1,654

-1,750

-3,486

2,072

-242

-2,788

3,985

3,080

-154

3,924

1,308

1,413

6,068

2,244

3,511

3,463

1,699

1,373

-1,407

15,417

6,862

6,238

10,762

9,905

393

4,989

21,121

5,796

5,757

12,062

8,376

Other income

7,169

840

3,822

3,591

5,874

2,598

2,612

2,811

2,281

1,810

2,048

1,652

1,113

874

1,294

939

1,348

953

617

686

999

1,949

388

737

1,119

1,004

1,064

1,298

1,108

1,050

1,233

1,652

3,051

999

1,127

1,521

1,561

1,616

2,143

Total revenues

307,245

328,713

334,418

451,478

315,876

278,535

311,318

306,257

295,489

302,993

289,817

291,436

287,304

282,873

291,176

283,558

271,303

276,106

265,753

268,470

270,119

269,157

265,520

264,743

261,265

259,215

251,884

265,637

254,531

255,417

256,548

254,226

244,623

247,645

260,833

245,351

244,473

250,030

248,014

Benefits, losses and expenses
Policyholder Benefits and Claims Incurred, Net

138,660

138,801

154,191

152,692

139,384

163,874

161,846

168,278

143,562

137,436

134,895

165,879

144,096

137,373

135,710

148,408

119,513

128,225

121,181

132,939

114,019

111,837

117,443

127,158

111,988

102,152

112,701

120,765

112,699

103,337

106,051

130,984

107,878

103,612

124,412

163,809

110,601

124,864

118,381

Interest credited

51,545

52,694

53,576

53,594

52,922

52,969

52,124

51,071

50,035

50,435

50,078

49,348

48,774

49,098

48,658

47,576

46,690

46,739

46,216

45,350

44,537

44,845

44,477

43,730

43,087

43,463

42,924

42,098

41,408

41,721

41,411

40,454

39,979

39,923

39,288

38,273

37,426

37,076

36,220

Operating expenses

60,662

61,768

61,414

55,252

56,175

56,037

50,989

50,218

48,169

48,633

44,172

46,228

48,756

42,634

44,337

43,345

42,796

41,800

39,647

40,036

35,928

42,959

39,875

39,211

39,947

40,873

41,407

39,014

38,818

41,676

37,955

38,577

37,850

39,630

36,030

35,986

36,989

36,075

33,394

DAC unlocking and amortization expense

29,975

26,216

26,344

31,648

24,973

30,532

26,066

26,586

26,705

28,281

24,210

24,808

24,886

23,619

24,474

24,587

24,052

25,519

25,709

24,007

23,684

23,790

24,477

22,517

23,033

20,658

20,911

23,000

20,074

18,981

20,406

22,302

17,830

18,663

25,008

20,560

19,167

20,189

25,826

Intangible asset amortization expense

3,686

-

3,781

-

541

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest expense

4,228

4,354

4,608

3,312

3,303

3,285

3,253

3,291

3,172

3,069

2,978

2,945

2,956

2,950

2,975

2,948

2,935

3,512

2,652

3,406

3,552

3,563

3,543

3,546

3,546

3,580

3,553

3,549

3,554

3,583

3,556

3,554

3,556

3,579

3,474

3,477

3,477

3,496

3,481

Other expense - goodwill impairment

-

-

0

28,025

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total benefits, losses and expenses

288,756

288,301

303,914

324,523

277,298

306,697

294,278

299,444

271,643

267,854

256,333

289,208

269,468

255,674

256,154

266,864

235,986

248,133

235,405

245,738

221,720

226,994

229,815

236,162

221,601

210,726

221,496

228,426

216,553

209,298

209,379

235,871

207,093

205,407

228,212

262,105

207,660

221,700

217,302

Income before income taxes

18,489

40,412

30,504

126,955

38,578

-28,162

17,040

6,813

23,846

35,139

33,484

2,228

17,836

27,199

35,022

16,694

35,317

27,973

30,348

22,732

48,399

42,163

35,705

28,581

39,664

48,489

30,388

37,211

37,978

46,119

47,169

18,355

37,530

42,238

32,621

-16,754

36,813

28,330

30,712

Income tax expense

17

7,411

5,050

33,133

6,412

-7,905

4,512

896

3,691

-90,190

6,933

-33

2,518

7,376

8,099

4,828

10,164

6,933

8,364

6,549

14,124

12,095

10,348

8,129

11,298

14,202

6,789

11,216

10,966

14,293

14,903

5,252

10,859

9,325

8,984

-4,903

11,006

8,164

7,731

Net Income (Loss) Attributable to Parent

18,472

33,001

25,454

93,822

32,166

-20,257

12,528

5,917

20,155

125,329

26,551

2,261

15,318

19,823

26,923

11,866

25,153

21,040

21,984

16,183

34,275

30,068

25,357

20,452

28,366

34,287

23,599

25,995

27,012

31,826

32,266

13,103

26,671

32,913

23,637

-11,851

25,807

20,166

22,981

Net income per share
Basic (in usd per share)

0.44

0.79

0.61

2.25

0.77

-0.49

0.30

0.14

0.49

3.04

0.64

0.05

0.37

0.48

0.66

0.29

0.61

0.49

0.53

0.39

0.82

0.71

0.61

0.49

0.69

0.83

0.59

0.65

0.68

0.81

0.82

0.33

0.67

0.83

0.59

-0.30

0.65

0.51

0.59

Diluted (in usd per share)

0.44

0.79

0.60

2.24

0.77

-0.48

0.30

0.14

0.48

3.02

0.64

0.05

0.37

0.47

0.65

0.29

0.61

0.49

0.52

0.38

0.81

0.72

0.60

0.48

0.67

0.80

0.57

0.63

0.66

0.77

0.78

0.32

0.64

0.81

0.57

-0.30

0.62

0.49

0.56

Weighted average number of shares and equivalent shares
Basic (in shares)

41,827

41,795

41,785

41,762

41,610

41,500

41,683

41,600

41,497

41,524

41,433

41,368

41,135

41,161

41,092

41,082

41,297

41,867

41,852

41,990

41,950

166,460,998

41,514

41,432

41,180

81,697

40,001

39,768

39

78,676

39

39,544

39,794

39,902

39,919

39,893

39,749

39,411

39,263

Diluted (in shares)

42,019

42,060

42,030

41,921

41,785

42,338

41,850

41,735

41,653

41,850

41,575

41,493

41,342

41,751

41,347

41,314

41,492

42,669

42,305

42,425

42,300

168,795,348

42,319

42,310

42,259

83,364

41,732

41,395

41

82,662

41

41,304

41,546

42,703

41,451

39,893

41,699

41,115

40,929

Net investment gains (losses)
Total other-than-temporary impairment losses on securities

3,692

1,105

5

34

236

173

70

1,177

110

167

6,092

3,564

2,797

3,715

160

3,853

3,673

2,936

3,602

14,969

2,289

5,748

185

452

0

558

11

963

0

0

0

0

0

-

-

-

0

4,345

1,106

Net other-than-temporary impairment losses on securities recognized in earnings

-

-

-

-

-

-

-

-

-

-

-

-

1,777

3,715

160

3,563

3,673

2,936

3,602

10,669

2,289

5,748

185

452

0

558

11

963

0

0

0

0

0

-

-

-

0

4,345

647

Portion of losses recognized in other comprehensive income (loss)

0

0

0

0

0

0

0

0

0

0

0

0

0

580

0

-290

0

0

0

4,300

0

0

0

0

0

0

0

0

0

0

0

0

0

-

-

-

0

-

-459

Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net

3,692

-

5

34

236

-

70

1,177

110

-

6,092

3,564

2,797

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Sales and other, net

4,557

3,982

608

142,067

4,838

830

-1,331

1,789

2,203

-2,295

2,365

5,202

2,484

1,979

4,145

6,643

3,519

6,860

4,910

12,082

8,357

7,992

3,696

3,915

1,699

1,931

-1,396

16,380

6,862

6,238

10,762

9,905

393

5,061

21,121

5,796

5,757

16,407

9,023

Change in fair value - equity securities (1)

-14,486

-720

1,081

3,441

3,506

-13,981

2,000

-1,156

-5,186

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments

-4,843

-411

-3,840

859

-691

-1,103

2,204

1,279

1,439

712

241

434

71

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Realized Investment Gains (Losses)

-18,464

1,746

-2,156

146,333

7,417

-14,427

2,803

735

-1,654

-1,750

-3,486

2,072

-242

-2,788

3,985

3,080

-154

3,924

1,308

1,413

6,068

2,244

3,511

3,463

1,699

1,373

-1,407

15,417

6,862

6,238

10,762

9,905

393

4,989

21,121

5,796

5,757

12,062

8,376