INVESTMENTS IN VARIABLE INTEREST ENTITIES (Tables)

3 Months Ended

Mar. 31, 2015

Investments in Variable Interest Entities [Abstract]

Schedule of impact on balance sheet of consolidating variable interest entities

The following table provides supplemental information about the assets and liabilities of the VIEs which have been consolidated in accordance with authoritative guidance (dollars in millions):

	March 31, 2015
	VIEs		Eliminations			Net effect on consolidated balance sheet
Assets:
Investments held by variable interest entities	$	1,499.8	$	—		$	1,499.8
Notes receivable of VIEs held by insurance subsidiaries	—		(163.5		)	(163.5		)
Cash and cash equivalents held by variable interest entities	158.5		—			158.5
Accrued investment income	2.8		—			2.8
Income tax assets, net	6.9		(1.7		)	5.2
Other assets	18.4		(1.3		)	17.1
Total assets	$	1,686.4	$	(166.5	)	$	1,519.9
Liabilities:
Other liabilities	$	73.8	$	(5.5	)	$	68.3
Borrowings related to variable interest entities	1,461.3		—			1,461.3
Notes payable of VIEs held by insurance subsidiaries	164.1		(164.1		)	—
Total liabilities	$	1,699.2	$	(169.6	)	$	1,529.6

	December 31, 2014
	VIEs		Eliminations			Net effect on consolidated balance sheet
Assets:
Investments held by variable interest entities	$	1,367.1	$	—		$	1,367.1
Notes receivable of VIEs held by insurance subsidiaries	—		(153.3		)	(153.3		)
Cash and cash equivalents held by variable interest entities	68.3		—			68.3
Accrued investment income	3.2		—			3.2
Income tax assets, net	18.1		(2.9		)	15.2
Other assets	14.2		(1.7		)	12.5
Total assets	$	1,470.9	$	(157.9	)	$	1,313.0
Liabilities:
Other liabilities	$	61.2	$	(6.1	)	$	55.1
Borrowings related to variable interest entities	1,286.1		—			1,286.1
Notes payable of VIEs held by insurance subsidiaries	157.3		(157.3		)	—
Total liabilities	$	1,504.6	$	(163.4	)	$	1,341.2

Summary of variable interest entities by contractual maturity

The following table sets forth the amortized cost and estimated fair value of the investments held by the VIEs at March 31, 2015, by contractual maturity.  Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties.

	Amortized cost		Estimated fair value
	(Dollars in millions)
Due after one year through five years	$	506.9	$	504.6
Due after five years through ten years	1,004.9		995.2
Total	$	1,511.8	$	1,499.8