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Investments (Tables)
12 Months Ended
Dec. 31, 2011
Investments [Abstract]  
Schedule of Available-for-sale Securities
 The carrying amounts and fair values of our available for sale securities at December 31, 2011 and 2010 are as follows:
 
December 31, 2011
 
Carrying
Value
 
Cost Basis
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
 
(In millions)
Fixed maturity investments (available for sale):
 

 
 

 
 

 
 

 
 

U.S. government and agencies
$
159.1

 
$
148.2

 
$
10.9

 
$

 
$
159.1

States and political subdivisions
1,330.1

 
1,266.1

 
64.1

 
(0.1
)
 
1,330.1

Corporate debt securities
1,463.4

 
1,442.7

 
48.3

 
(27.6
)
 
1,463.4

Foreign government bonds
46.0

 
44.2

 
1.8

 

 
46.0

Mortgage-backed/asset-backed securities
201.6

 
191.8

 
9.8

 

 
201.6

Preferred stock available for sale
71.4

 
74.8

 
0.4

 
(3.8
)
 
71.4

Equity securities available for sale
105.7

 
83.2

 
25.5

 
(3.0
)
 
105.7

 
$
3,377.3

 
$
3,251.0

 
$
160.8

 
$
(34.5
)
 
$
3,377.3

 
 
December 31, 2010
 
Carrying
Value
 
Cost Basis
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
 
(In millions)
Fixed maturity investments (available for sale):
 

 
 

 
 

 
 

 
 

U.S. government and agencies
$
313.5

 
$
303.8

 
$
11.8

 
$
(2.1
)
 
$
313.5

States and political subdivisions
1,374.0

 
1,343.3

 
37.9

 
(7.2
)
 
1,374.0

Corporate debt securities
1,532.7

 
1,469.6

 
69.4

 
(6.3
)
 
1,532.7

Foreign government bonds and other fixed maturity securities
90.1

 
83.7

 
6.8

 
(0.4
)
 
90.1

Mortgage-backed/asset-backed securities
184.0

 
176.8

 
7.2

 

 
184.0

Equity securities available for sale
75.2

 
51.1

 
24.4

 
(0.3
)
 
75.2

 
$
3,569.5

 
$
3,428.3

 
$
157.5

 
$
(16.3
)
 
$
3,569.5

Investments Classified by Contractual Maturity Date

The following table presents certain information regarding contractual maturities of our fixed maturity securities at December 31, 2011:

 
December 31, 2011
Maturity
Amortized Cost
 
% of
Total
 
Fair
Value
 
% of
Total
 
(Dollars in millions)
One year or less
$
319.5

 
10.3
%
 
$
324.4

 
10.1
%
After one year through five years
1,422.3

 
46.0

 
1,468.3

 
45.9

After five years through ten years
1,101.4

 
35.6

 
1,146.4

 
35.8

After ten years
57.9

 
1.9

 
59.5

 
1.9

Mortgage-backed/asset-backed securities
191.9

 
6.2

 
201.6

 
6.3

 
$
3,093.0

 
100.0
%
 
$
3,200.2

 
100.0
%
Subject to call
$
1,437.7

 
46.5
%
 
$
1,477.8

 
46.2
%
Schedule of Temporary Impairment Losses, Investments
Net unrealized losses on investment securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2011 and 2010 are as follows (in millions):

2011
 
 
 
 
 
 
 
 
 
 
 
 
Less than 12 Months
 
12 Months or Longer
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
States and political subdivisions
$
10.6

 
$
(0.1
)
 
$

 
$

 
$
10.6

 
$
(0.1
)
Corporate debt securities
339.0

 
(26.6
)
 
7.3

 
(1.0
)
 
346.3

 
(27.6
)
Preferred stock available for sale
52.9

 
(3.8
)
 

 

 
52.9

 
(3.8
)
Equity securities available for sale
16.1

 
(3.0
)
 

 

 
16.1

 
(3.0
)
Total temporarily impaired securities
$
418.6

 
$
(33.5
)
 
$
7.3

 
$
(1.0
)
 
$
425.9

 
$
(34.5
)

2010
 
 
 
 
 
 
 
 
 
 
 
 
Less than 12 Months
 
12 Months or Longer
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
U.S. government and agencies
$
54.3

 
$
(2.0
)
 
$
0.4

 
$
(0.1
)
 
$
54.7

 
$
(2.1
)
States and political subdivisions
255.2

 
(7.2
)
 

 

 
255.2

 
(7.2
)
Corporate debt securities
251.4

 
(6.3
)
 

 

 
251.4

 
(6.3
)
Foreign government bonds and other fixed maturity securities
10.8

 
(0.4
)
 

 

 
10.8

 
(0.4
)
Equity securities available for sale

 

 
1.8

 
(0.3
)
 
1.8

 
(0.3
)
Total temporarily impaired securities
$
571.7

 
$
(15.9
)
 
$
2.2

 
$
(0.4
)
 
$
573.9

 
$
(16.3
)
Realized Gains and Losses and Proceeds From Sales on Investments and Other Assets
The following table presents realized gains and losses on investments and other assets and proceeds from the sale or maturity of investments and other assets for the years ending December 31, 2011, 2010, and 2009, respectively:
 
 
Year ended December 31, 2011
 
 
Gross Realized Gains
 
Gross Realized Losses
 
Net Realized Gains (Losses)
 
Gross Proceeds from Sale/Maturity
 
 
(In millions)
Fixed maturity securities available for sale
 
$
37.5

 
$
(17.8
)
 
$
19.7

 
$
1,205.6

Preferred stock available for sale
 
0.1

 
(0.1
)
 

 
21.0

Equity securities available for sale
 
1.9

 

 
1.9

 
16.3

Other long-term investments
 
 
 
 
 
(4.4
)
 
77.7

Other assets
 
 
 
 
 
(10.5
)
 
5.4

Total
 
 
 
 
 
$
6.7

 
$
1,326.0

 
 
 
 
 
 
 
 
 
 
 
Year ended December 31, 2010
 
 
Gross Realized Gains
 
Gross Realized Losses
 
Net Realized Gains (Losses)
 
Gross Proceeds from Sale/Maturity
 
 
(In millions)
Fixed maturity securities available for sale
 
$
90.3

 
$
(1.7
)
 
$
88.6

 
$
1,348.8

Equity securities available for sale
 
26.3

 

 
26.3

 
59.9

Other long-term investments
 
 
 
 
 
109.8

 
193.6

Other assets
 
 
 
 
 
11.0

 
20.1

Total
 
 
 
 
 
$
235.7

 
$
1,622.4

 
 
 
 
 
 
 
 
 
 
 
Year ended December 31, 2009
 
 
Gross Realized Gains
 
Gross Realized Losses
 
Net Realized Gains (Losses)
 
Gross Proceeds from Sale/Maturity
 
 
(In millions)
Fixed maturity securities available for sale
 
$
36.3

 
$
(2.6
)
 
$
33.7

 
$
1,130.1

Equity securities available for sale
 
5.3

 
(21.5
)
 
(16.2
)
 
60.0

Other long-term investments
 
 
 
 
 
3.7

 

Other assets
 
 
 
 
 
4.6

 
53.8

Total
 
 
 
 
 
$
25.8

 
$
1,243.9

Investment Income
Interest and investment income consists of the following:
 
Year Ended December 31,
 
2011
 
2010
 
2009
 
(In millions)
Cash and cash equivalents
$
0.4

 
$
0.4

 
$
0.4

Fixed maturity securities available for sale
129.5

 
128.0

 
133.4

Equity securities and preferred stock available for sale
6.2

 
1.8

 
0.6

Short-term investments
0.1

 
0.6

 
3.1

Other
6.5

 
4.2

 
6.4

Total
$
142.7

 
$
135.0

 
$
143.9

Schedule of Equity Method Investments

Investments in unconsolidated affiliates are recorded using the equity method of accounting and, as of December 31, 2011 and 2010, consisted of the following (in millions):
 
Ownership at December 31, 2011
 
2011
 
2010
Ceridian
33
%
 
$
352.8

 
$
367.2

Remy
47
%
 
141.8

 
108.7

Other
various

 
51.9

 
51.8

Total
 

 
$
546.5

 
$
527.7

Ceridian summarized financial information balance sheet

Summarized financial information for the periods included in our Consolidated Financial Statements for Ceridian is presented below.
 
September 30, 2011
 
September 30, 2010
 
(In millions)
 
(In millions)
Total current assets
$
1,154.0

 
$
1,080.3

Goodwill and other intangible assets, net
4,577.6

 
4,700.6

Other assets
4,259.6

 
4,859.2

Total assets
$
9,991.2

 
$
10,640.1

Current liabilities
$
892.0

 
$
799.5

Long-term obligations, less current portion
3,451.4

 
3,492.5

Other long-term liabilities
4,566.0

 
5,222.2

Total liabilities
8,909.4

 
9,514.2

Equity
1,081.8

 
1,125.9

Total liabilities and equity
$
9,991.2

 
$
10,640.1

Ceridian summarized financial information income statement
 
Period from
October 1, 2010,
through
September 30, 2011
 
Period from
October 1, 2009,
through
September 30, 2010
 
(In millions)
 
(In millions)
Total revenues
$
1,539.4

 
$
1,472.4

Loss before income taxes
(73.7
)
 
(129.4
)
Net loss
(43.8
)
 
(101.0
)