XML 51 R17.htm IDEA: XBRL DOCUMENT v2.4.0.8
Income Taxes
 3 Months Ended
Mar. 31, 2014
Income Tax Disclosure [Abstract]  
Income Taxes
INCOME TAXES
As of March 31, 2014, and December 31, 2013, we had no liability for unrecognized tax benefits.
 
The differences between the 35 percent statutory income tax rate and our effective income tax rate were as follows:
(In millions)
 
Three months ended March 31,
 
 
2014
 
2013
Tax at statutory rate
 
$
42

 
35.0
 %
 
$
76

 
35.0
 %
  Increase (decrease) resulting from:
 
 

 
 

 
 

 
 

Tax-exempt income from municipal bonds
 
(8
)
 
(6.7
)
 
(8
)
 
(3.7
)
Dividend received exclusion
 
(7
)
 
(5.9
)
 
(6
)
 
(2.6
)
Other
 
1

 
1.1

 
1

 
0.3

Provision for income taxes
 
$
28

 
23.5
 %
 
$
63

 
29.0
 %
 
 
 
 
 
 
 
 
 

 
The change in our effective tax rate was primarily due to changes in pretax income from underwriting results and realized investment gains and losses, compared with unchanged levels of permanent book-tax differences.