As a result, the Company's reporting segments changed in the third quarter of 2019. Actual results could differ from these estimates. This category includes nonredeemable preferred stocks and common stocks. Investment income is recognized as earned. Upon recognizing a credit loss, the cost basis is not adjusted. The new cost basis is not adjusted for any subsequent recoveries in fair value. Currently, a GPV is not required for the acquired supplemental block. At October 1, 2020, the Company performed a quantitative goodwill impairment test. The estimated useful lives of real property range from 20 to 45 years. Except for embedded derivatives, each of these components is carried at cost. Embedded derivatives are carried at fair value. See Note 5 for further details. Contract features meeting the definition of a MRB will be measured at fair value. The remainder of the portfolio was priced by broker-dealers or pricing models. For some securities, additional inputs may be necessary. The Company carries these financial liabilities at cost. Long-term DebtThe Company carries long-term debt at amortized cost. The annuity reinsurance transaction was effective April 1, 2019. The table presents reserves on both a gross and net (after reinsurance) basis. Reserves are re-estimated quarterly. These counts are derived by counting the number of claimants by insurance coverage. Past due reinsurance recoverables as of December 31, 2020 were not material. The Company maintains catastrophe excess of loss reinsurance coverage. There is no interest on this borrowing. There are no deferred tax liabilities that have not been recognized. The Company has no unrecorded liabilities from uncertain tax filing positions. HMEC and its subsidiaries file a consolidated federal income tax return. The repurchase of shares was funded through use of cash. At December 31, 2020, the Company held 24,902,579 shares in treasury. These dividends are reinvested into additional CSUs. Through December 31, 2020, all distributions have been in cash. The options generally expire 7 to 10 years from the date of grant. Substantially all employees participate in the 401(k) plan. The 401(k) plan is fully funded. For the two qualified plans, all assets are held in their respective plan trusts. Therefore, actual results could vary from the estimates shown. See Note 5 for further information. The accounting policies of the segments are the same as those described in Note 1. The twelve month comparison is not meaningful. We have assessed our internal control over financial reporting as of December 31, 2020. It includes "Compensation Discussion and Analysis", and "Compensation Committee Report". Horace Mann Educators CorporationAnnual Report on Form 10-K 141PART IVITEM 15. See accompanying Report of Independent Registered Public Accounting Firm. 333-223628) on Form S-4 and the registration statement (No. Each catastrophe has unique characteristics. Catastrophes are not predictable as to timing or amount of loss in advance. Net income is the most comparable GAAP measure. Earnings per share is the most comparable GAAP measure. Exclusive distributor - A licensed representative of Horace Mann. Amounts are reported net of reinsurance, unless otherwise specified. The Loss Ratio is the most directly comparable GAAP measure. 03XE_MV?\\+Q_MG_ (6)9ZE!_P (M_PC/V?^S_M= M];7[[3]I?S=GV?9CRDW;\\\\8P;_ &$? @?2X+C3AK\'-1CB%%]I7C^+LOQ/O&BN5^% M?QR^#\'QRT;_A([email protected]\\6/#GBJR ! FNW*AKE\\9/V.?"I=#J=H"RX!)C &: M^MZ_D0LKV
