What does long-term care — removal of shadow adjustments, LFPB mean?

A technical accounting adjustment to strip out market-related noise from long-term insurance liabilities.

How do you interpret long-term care — removal of shadow adjustments, LFPB?

Used primarily for reconciliation; changes reflect shifts in accounting methodology or portfolio rebalancing.

How does long-term care — removal of shadow adjustments, LFPB compare across companies?

Specific to insurers transitioning to modern long-duration accounting frameworks.

Unum UNM Long-term Care — Removal of Shadow Adjustments, LFPB

Discontinued — last reported Q4 '20

Similar metrics at other companies

CINFUniversal Life — Removal of shadow adjustments

$0—

CINFWhole Life Insurance — Removal of shadow adjustments

$0—

CINFTerm Life Insurance — Removal of shadow adjustments

$0—

CINFLong-Duration Insurance, Other — Removal of shadow adjustments

$13M—

CINFUniversal life — Additional Liability, Long-Duration Insurance, Shadow reserve adjustments

$1M0.0%

EQHTerm — Impact of flooring LFPB at zero

$1M0.0%

Other financials

Income statement

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Revenue$3.4B+8.5%

Operating income$501.8M+2.4%

Net income$232.0M+22.7%

EPS (diluted)$1.41+33.0%

Balance sheet

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Cash & equivalents$192.6M-19.0%

Total debt$3.8B+0.5%

Total equity$10.9B-2.9%

Total assets$62.7B+0.4%

Cash flow

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Operating cash flow$340.8M-3.6%

CapEx$39.6M+10.6%

Free cash flow$301.2M-5.2%

Valuation

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Market cap$14.38B-17.0%

Enterprise value$17.95B-13.3%

P/E18.4×+7.4×

P/S1.1×-0.3×

Profitability

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Net margin5.9%-6.5pp

FCF margin11.2%+1.4pp

Returns & leverage

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Return on equity7.1%-7.6pp

Debt / equity0.3×0.0×

Where this comes from

Reported directly by Unum in its filing.

Tagged under the XBRL concept unm:RemovalOfShadowAdjustmentsLFPB.

The official record: Unum’s 10-K, filed February 20, 2024, on SEC EDGAR. View the filing →

Questions, answered.

What does long-term care — removal of shadow adjustments, LFPB mean?: A technical accounting adjustment to strip out market-related noise from long-term insurance liabilities.
How do you interpret long-term care — removal of shadow adjustments, LFPB?: Used primarily for reconciliation; changes reflect shifts in accounting methodology or portfolio rebalancing.
How does long-term care — removal of shadow adjustments, LFPB compare across companies?: Specific to insurers transitioning to modern long-duration accounting frameworks.