Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2017

Stockholders' Equity

Reconciliation of Outstanding Shares (Table)

	Series A preferred stock			Series B preferred stock			Common stock
	(in millions)
Outstanding shares as of January 1, 2015		3.0			10.0			293.9
Shares issued		—			—			3.5
Treasury stock acquired		—			—			(6.0	)
Preferred stock redemption		(3.0	)		(10.0	)		—
Outstanding shares as of December 31, 2015		—			—			291.4
Shares issued		—			—			3.0
Treasury stock acquired		—			—			(6.7	)
Outstanding shares as of December 31, 2016		—			—			287.7
Shares issued		—			—			4.9
Treasury stock acquired		—			—			(3.6	)
Outstanding shares as of December 31, 2017		—			—			289.0

Other Comprehensive Income (Loss) (Table)

	For the year ended December 31, 2017
	Pre-Tax			Tax			After-Tax
	(in millions)
Net unrealized gains on available-for-sale securities during the period	$	1,074.2		$	(341.6	)	$	732.6
Reclassification adjustment for losses included in net income (1)		67.8			(23.5	)		44.3
Adjustments for assumed changes in amortization patterns		(26.2	)		9.3			(16.9	)
Adjustments for assumed changes in policyholder liabilities		(184.6	)		64.1			(120.5	)
Net unrealized gains on available-for-sale securities		931.2			(291.7	)		639.5
Noncredit component of impairment losses on fixed maturities, available-for-sale during the period		53.1			(17.0	)		36.1
Adjustments for assumed changes in amortization patterns		(6.4	)		2.3			(4.1	)
Adjustments for assumed changes in policyholder liabilities		(1.3	)		0.5			(0.8	)
Noncredit component of impairment losses on fixed maturities, available-for-sale (2)		45.4			(14.2	)		31.2
Net unrealized losses on derivative instruments during the period		(46.7	)		16.0			(30.7	)
Reclassification adjustment for gains included in net income (3)		(31.6	)		10.8			(20.8	)
Adjustments for assumed changes in amortization patterns		3.9			(1.3	)		2.6
Adjustments for assumed changes in policyholder liabilities		9.6			(3.3	)		6.3
Net unrealized losses on derivative instruments		(64.8	)		22.2			(42.6	)
Foreign currency translation adjustment during the period		171.6			4.7			176.3
Reclassification adjustment for losses included in net income (4)		2.6			—			2.6
Foreign currency translation adjustment		174.2			4.7			178.9
Unrecognized postretirement benefit obligation during the period		24.0			(3.8	)		20.2
Amortization of amounts included in net periodic benefit cost (5)		31.1			(14.0	)		17.1
Net unrecognized postretirement benefit obligation		55.1			(17.8	)		37.3
Other comprehensive income	$	1,141.1		$	(296.8	)	$	844.3

	For the year ended December 31, 2016
	Pre-Tax			Tax			After-Tax
	(in millions)
Net unrealized gains on available-for-sale securities during the period	$	254.6		$	(78.1	)	$	176.5
Reclassification adjustment for losses included in net income (1)		67.9			(23.5	)		44.4
Adjustments for assumed changes in amortization patterns		5.6			(2.0	)		3.6
Adjustments for assumed changes in policyholder liabilities		(177.2	)		51.8			(125.4	)
Net unrealized gains on available-for-sale securities		150.9			(51.8	)		99.1
Noncredit component of impairment losses on fixed maturities, available-for-sale during the period		(0.3	)		(1.5	)		(1.8	)
Adjustments for assumed changes in amortization patterns		(3.4	)		1.2			(2.2	)
Adjustments for assumed changes in policyholder liabilities		0.8			(0.3	)		0.5
Noncredit component of impairment losses on fixed maturities, available-for-sale (2)		(2.9	)		(0.6	)		(3.5	)
Net unrealized gains on derivative instruments during the period		32.6			(7.6	)		25.0
Reclassification adjustment for gains included in net income (3)		(27.7	)		5.4			(22.3	)
Adjustments for assumed changes in amortization patterns		2.9			(1.0	)		1.9
Adjustments for assumed changes in policyholder liabilities		16.9			(6.0	)		10.9
Net unrealized gains on derivative instruments		24.7			(9.2	)		15.5
Foreign currency translation adjustment		75.6			(7.5	)		68.1
Unrecognized postretirement benefit obligation during the period		20.2			(6.8	)		13.4
Amortization of amounts included in net periodic benefit cost (5)		49.1			(20.7	)		28.4
Net unrecognized postretirement benefit obligation		69.3			(27.5	)		41.8
Other comprehensive income	$	317.6		$	(96.6	)	$	221.0

	For the year ended December 31, 2015
	Pre-Tax			Tax			After-Tax
	(in millions)
Net unrealized losses on available-for-sale securities during the period	$	(1,713.7	)	$	589.0		$	(1,124.7	)
Reclassification adjustment for losses included in net income (1)		15.1			(5.4	)		9.7
Adjustments for assumed changes in amortization patterns		201.2			(70.4	)		130.8
Adjustments for assumed changes in policyholder liabilities		779.0			(265.5	)		513.5
Net unrealized losses on available-for-sale securities		(718.4	)		247.7			(470.7	)
Noncredit component of impairment losses on fixed maturities, available-for-sale during the period		29.4			(10.2	)		19.2
Adjustments for assumed changes in amortization patterns		(0.9	)		0.3			(0.6	)
Adjustments for assumed changes in policyholder liabilities		0.7			(0.2	)		0.5
Noncredit component of impairment losses on fixed maturities, available-for-sale (2)		29.2			(10.1	)		19.1
Net unrealized gains on derivative instruments during the period		58.4			(20.4	)		38.0
Reclassification adjustment for gains included in net income (3)		(36.9	)		12.5			(24.4	)
Adjustments for assumed changes in amortization patterns		19.5			(6.9	)		12.6
Adjustments for assumed changes in policyholder liabilities		(10.8	)		3.8			(7.0	)
Net unrealized gains on derivative instruments		30.2			(11.0	)		19.2
Foreign currency translation adjustment		(543.6	)		72.0			(471.6	)
Unrecognized postretirement benefit obligation during the period		(142.5	)		55.5			(87.0	)
Amortization of amounts included in net periodic benefit cost (5)		81.2			(33.3	)		47.9
Net unrecognized postretirement benefit obligation		(61.3	)		22.2			(39.1	)
Other comprehensive loss	$	(1,263.9	)	$	320.8		$	(943.1	)

(1)	Pre-tax reclassification adjustments relating to available-for-sale securities are reported in net realized capital gains (losses) on the consolidated statements of operations.
(2)	Represents the net impact of (1) unrealized gains resulting from reclassification of previously recognized noncredit impairment losses from OCI to net realized capital gains (losses) for fixed maturities with bifurcated OTTI that had additional credit losses or fixed maturities that previously had bifurcated OTTI that have now been sold or are intended to be sold and (2) unrealized losses resulting from reclassification of noncredit impairment losses for fixed maturities with bifurcated OTTI from net realized capital gains (losses) to OCI.
(3)	See Note 5, Derivative Financial Instruments — Cash Flow Hedges, for further details.
(4)	Pre-tax reclassification adjustments relating to deconsolidated sponsored investment funds are reported in net realized capital gains (losses) on the consolidated statements of operations. $2.0 million of this reclassification relates to noncontrolling interest and is reported in net income attributable to noncontrolling interest on the consolidated statements of operations.
(5)	Amount is comprised of amortization of prior service cost (benefit) and recognized net actuarial (gain) loss, which is reported in operating expenses on the consolidated statements of operations. See Note 11, Employee and Agent Benefits — Components of Net Periodic Benefit Cost, for further details.

Accumulated Other Comprehensive Income (Loss) (Table)

	Net unrealized gains on available-for-sale securities			Noncredit component of impairment losses on fixed maturities available-for-sale			Net unrealized gains on derivative instruments			Foreign currency translation adjustment			Unrecognized postretirement benefit obligation			Accumulated other comprehensive income (loss)
	(in millions)
Balances as of January 1, 2015	$	1,202.8		$	(105.1	)	$	50.6		$	(686.8	)	$	(411.1	)	$	50.4
Other comprehensive loss during the period, net of adjustments		(480.4	)		—			43.6			(451.1	)		(87.0	)		(974.9	)
Amounts reclassified from AOCI		9.7			19.1			(24.4	)		—			47.9			52.3
Other comprehensive loss		(470.7	)		19.1			19.2			(451.1	)		(39.1	)		(922.6	)
Purchase of subsidiary shares from noncontrolling interest		—			—			—			(10.3	)		—			(10.3	)
Balances as of December 31, 2015		732.1			(86.0	)		69.8			(1,148.2	)		(450.2	)		(882.5	)
Other comprehensive income during the period, net of adjustments		54.7			(3.5	)		37.8			63.7			13.4			166.1
Amounts reclassified from AOCI		44.4			—			(22.3	)		—			28.4			50.5
Other comprehensive income		99.1			(3.5	)		15.5			63.7			41.8			216.6
Purchase of subsidiary shares from noncontrolling interest		—			—			—			(9.3	)		—			(9.3	)
Balances as of December 31, 2016		831.2			(89.5	)		85.3			(1,093.8	)		(408.4	)		(675.2	)
Other comprehensive income during the period, net of adjustments		595.2			—			(21.8	)		174.7			20.2			768.3
Amounts reclassified from AOCI		44.3			31.2			(20.8	)		0.6			17.1			72.4
Other comprehensive income		639.5			31.2			(42.6	)		175.3			37.3			840.7
Balances as of December 31, 2017	$	1,470.7		$	(58.3	)	$	42.7		$	(918.5	)	$	(371.1	)	$	165.5

Redeemable Noncontrolling Interest (Table)

Following is a reconciliation of the changes in the redeemable noncontrolling interest (in millions):

Balance as of January 1, 2015	$	58.0
Net income attributable to redeemable noncontrolling interest		4.9
Contributions from redeemable noncontrolling interest		56.1
Distributions to redeemable noncontrolling interest		(15.1	)
Purchase of subsidiary shares from redeemable noncontrolling interest		(6.0	)
Change in redemption value of redeemable noncontrolling interest		6.6
Other comprehensive income attributable to redeemable noncontrolling interest		(18.8	)
Balance as of December 31, 2015		85.7
Net income attributable to redeemable noncontrolling interest		16.8
Redeemable noncontrolling interest of newly consolidated entities (1)		179.5
Redeemable noncontrolling interest of deconsolidated entities (2)		(261.5	)
Contributions from redeemable noncontrolling interest		135.1
Distributions to redeemable noncontrolling interest		(57.4	)
Purchase of subsidiary shares from redeemable noncontrolling interest		(8.2	)
Change in redemption value of redeemable noncontrolling interest		4.2
Other comprehensive income attributable to redeemable noncontrolling interest		3.3
Balance as of December 31, 2016		97.5
Net income attributable to redeemable noncontrolling interest		7.0
Redeemable noncontrolling interest of deconsolidated entities (2)		(61.1	)
Contributions from redeemable noncontrolling interest		94.1
Distributions to redeemable noncontrolling interest		(39.0	)
Purchase of subsidiary shares from redeemable noncontrolling interest		(4.4	)
Change in redemption value of redeemable noncontrolling interest		5.9
Other comprehensive income attributable to redeemable noncontrolling interest		1.3
Balance as of December 31, 2017	$	101.3

(1)	Effective January 1, 2016, certain sponsored investment funds were consolidated as a result of the implementation of new accounting guidance.
(2)	We deconsolidated certain sponsored investment funds as they no longer met the requirements for consolidation.