Horace Mann Educators Corporation / "Research and Development" | Tables in SEC filings

HMN Horace Mann Educators Corporation

Annual report

Income tax expense for the following periods differed from the expected tax computed by applying the federal corporate tax rate of 21% for 2023, 2022 and 2021 to income before income taxes as follows (2022 and 2021 recast for the adoption of LDTI):

($ in millions)	Years Ended December 31,
2023		2022	2021
Expected federal tax on income		$	11.2	$	3.5	$	44.1	Add (deduct) tax effects of:	Tax-exempt interest	(2.7)	(3.3)	(3.9)	Dividend received deduction	(1.3)	(3.2)	(2.2)	Employee share-based compensation	0.1	(0.5)	(1.3)	Contingent consideration	—	(0.3)	—	Compensation deduction limitation	0.8	0.7	1.5	Research and development reserve	(0.2)	(0.4)	(0.2)	Prior year adjustments	0.3	0.1	0.1	Other, net	0.1	0.1	1.6	Income tax expense (benefit) provided on income	$	8.3	$	(3.3)	$	39.7

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