Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2014

Stockholders' Equity

Schedule of Dividend Payments (Table)

		Dividend per		Common stock
Date of dividend payment	Date of record	common share		dividend
				(in millions)
2014:
March 28, 2014	March 10, 2014	$	0.28	$	82.7
2013:
March 29, 2013	March 11, 2013	$	0.23	$	67.6

Reconciliation of Outstanding Shares (Table)

	Series A	Series B	Common
	preferred stock	preferred stock	stock
		(in millions)
Outstanding shares at January 1, 2013	3.0	10.0	293.8
Shares issued	—	—	2.4
Treasury stock acquired	—	—	(2.9	)
Outstanding shares at March 31, 2013	3.0	10.0	293.3
Outstanding shares at January 1, 2014	3.0	10.0	295.2
Shares issued	—	—	1.6
Treasury stock acquired	—	—	(2.0	)
Outstanding shares at March 31, 2014	3.0	10.0	294.8

Other Comprehensive Income (Loss) (Table)

	For the three months ended March 31, 2014
	Pre-Tax			Tax			After-Tax
	(in millions)
Net unrealized gains on available-for-sale securities during the period	$	660.5		$	(223.3	)	$	437.2
Reclassification adjustment for gains included in net income (1)	(23.0		)	7.6			(15.4		)
Adjustments for assumed changes in amortization patterns	(54.3		)	19.0			(35.3		)
Adjustments for assumed changes in policyholder liabilities	(294.5		)	100.2			(194.3		)
Net unrealized gains on available-for-sale securities	288.7			(96.5		)	192.2
Noncredit component of impairment losses on fixed maturities, available-for-sale during the period	30.1			(10.5		)	19.6
Adjustments for assumed changes in amortization patterns	(3.2		)	1.3			(1.9		)
Adjustments for assumed changes in policyholder liabilities	(0.2		)	—			(0.2		)
Noncredit component of impairment losses on fixed maturities, available-for-sale (2)	26.7			(9.2		)	17.5
Net unrealized gains on derivative instruments during the period	9.7			(3.4		)	6.3
Reclassification adjustment for losses included in net income (3)	9.7			(3.5		)	6.2
Adjustments for assumed changes in amortization patterns	(0.2		)	—			(0.2		)
Adjustments for assumed changes in policyholder liabilities	(5.3		)	2.0			(3.3		)
Net unrealized gains on derivative instruments	13.9			(4.9		)	9.0
Foreign currency translation adjustment	(55.4		)	9.8			(45.6		)
Amortization of prior service cost and actuarial loss included in net periodic benefit cost (4)	5.5			(2.0		)	3.5
Net unrecognized postretirement benefit obligation	5.5			(2.0		)	3.5
Other comprehensive income	$	279.4		$	(102.8	)	$	176.6

	For the three months ended March 31, 2013
	Pre-Tax			Tax			After-Tax
	(in millions)
Net unrealized losses on available-for-sale securities during the period	$	(132.3	)	$	46.0		$	(86.3	)
Reclassification adjustment for losses included in net income (1)	34.1			(11.7		)	22.4
Adjustments for assumed changes in amortization patterns	43.7			(15.3		)	28.4
Adjustments for assumed changes in policyholder liabilities	(91.9		)	28.1			(63.8		)
Net unrealized losses on available-for-sale securities	(146.4		)	47.1			(99.3		)
Noncredit component of impairment losses on fixed maturities, available-for-sale during the period	(20.2		)	7.1			(13.1		)
Adjustments for assumed changes in amortization patterns	1.2			(0.2		)	1.0
Adjustments for assumed changes in policyholder liabilities	1.4			(0.6		)	0.8
Noncredit component of impairment losses on fixed maturities, available-for-sale (2)	(17.6		)	6.3			(11.3		)
Net unrealized gains on derivative instruments during the period	32.6			(10.8		)	21.8
Reclassification adjustment for gains included in net income (3)	(0.5		)	0.1			(0.4		)
Adjustments for assumed changes in amortization patterns	1.0			(0.4		)	0.6
Net unrealized gains on derivative instruments	33.1			(11.1		)	22.0
Foreign currency translation adjustment	55.1			(0.7		)	54.4
Amortization of prior service cost and actuarial loss included in net periodic benefit cost (4)	21.2			(7.4		)	13.8
Net unrecognized postretirement benefit obligation	21.2			(7.4		)	13.8
Other comprehensive loss	$	(54.6	)	$	34.2		$	(20.4	)

(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 4, Derivative Financial Instruments — Cash Flow Hedges, for further details.

(4)  Pre-tax amortization of prior service cost and actuarial loss included in net periodic benefit cost, which is comprised of amortization of prior service cost (benefit) and recognized net actuarial (gain) loss, is reported in operating expenses on the consolidated statements of operations. See Note 6, Employee and Agent Benefits — Components of Net Periodic Benefit Cost, for further details.

Accumulated Other Comprehensive Income (Loss) (Table)

				Noncredit
	Net unrealized			component of			Net unrealized			Foreign			Unrecognized			Accumulated
	gains on			impairment losses			gains (losses) on			currency			postretirement			other
	available-for-sale			on fixed maturities			derivative			translation			benefit			comprehensive
	securities			available-for-sale			instruments			adjustment			obligation			income
	(in millions)
Balances at January 1, 2013	$	1,418.3		$	(173.9	)	$	(8.7	)	$	(106.9	)	$	(488.5	)	$	640.3
Other comprehensive income during the period, net of adjustments	(121.7		)	(11.3		)	22.4			55.5			—			(55.1		)
Amounts reclassified from AOCI	22.4			—			(0.4		)	—			13.8			35.8
Other comprehensive loss	(99.3		)	(11.3		)	22.0			55.5			13.8			(19.3		)
Balances at March 31, 2013	$	1,319.0		$	(185.2	)	$	13.3		$	(51.4	)	$	(474.7	)	$	621.0
Balances at January 1, 2014	$	878.1		$	(167.0	)	$	(10.5	)	$	(361.5	)	$	(155.9	)	$	183.2
Other comprehensive income during the period, net of adjustments	207.6			—			2.8			(43.6		)	—			166.8
Amounts reclassified from AOCI	(15.4		)	17.5			6.2			—			3.5			11.8
Other comprehensive income	192.2			17.5			9.0			(43.6		)	3.5			178.6
Balances at March 31, 2014	$	1,070.3		$	(149.5	)	$	(1.5	)	$	(405.1	)	$	(152.4	)	$	361.8

Redeemable Noncontrolling Interest (Table)

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

Balance at January 1, 2013	$	60.4
Net income attributable to redeemable noncontrolling interest	0.1
Distributions to redeemable noncontrolling interest	(0.6		)
Foreign currency translation adjustment	(1.0		)
Balance at March 31, 2013	$	58.9
Balance at January 1, 2014	$	247.2
Net income attributable to redeemable noncontrolling interest	2.0
Distributions to redeemable noncontrolling interest	(4.9		)
Change in redemption value of redeemable noncontrolling interest	34.3
Foreign currency translation adjustment	1.6
Balance at March 31, 2014	$	280.2