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Shareholders' Equity And Dividend Restrictions
 12 Months Ended
Dec. 31, 2015
Shareholders Equity And Dividend Restrictions [Abstract]  
Shareholders' Equity And Dividend Restrictions
Shareholders’ Equity and Dividend Restrictions
Declared cash dividends per share were $2.30, $1.76 and $1.655 for the years ended December 31, 2015, 2014 and 2013, respectively.

Our insurance subsidiary declared dividends to the parent company of $447 million in 2015, $400 million in 2014 and $375 million in 2013. State regulatory requirements restrict the dividends insurance subsidiaries can pay. Dividends must be paid within 30 days of declaration. Generally, the most our insurance subsidiary can pay without prior regulatory approval is the greater of 10 percent of statutory capital and surplus or 100 percent of statutory net income for the prior calendar year. Dividends exceeding these limitations may be paid only with approval of the insurance department of the domiciliary state. During 2016, the total that our insurance subsidiary, which is the parent of all other insurance subsidiaries, may declare in dividends is approximately $534 million.
 
Accumulated Other Comprehensive Income
The table below shows beginning and end of year accumulated other comprehensive income (AOCI) for investments, pension obligations, life deferred acquisition costs, life policy reserves and other. The changes from the beginning of year to the end of year are the result of changes to other comprehensive income or loss (OCI).
 (Dollars in millions)
 
2015
 
 
2014
 
 
2013
 
 
Before
tax
 
Income
tax
 
Net
 
 
Before
tax
 
Income
tax
 
Net
 
 
Before
tax
 
Income
tax
 
Net
Investments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, January 1
 
$
2,719

 
$
942

 
$
1,777

 
 
$
2,335

 
$
808

 
$
1,527

 
 
$
1,875

 
$
647

 
$
1,228

OCI before realized gains recognized in net income
 
(556
)
 
(196
)
 
(360
)
 
 
514

 
181

 
333

 
 
537

 
188

 
349

Realized gains and losses recognized in net income
 
(69
)
 
(24
)
 
(45
)
 
 
(130
)
 
(47
)
 
(83
)
 
 
(77
)
 
(27
)
 
(50
)
OCI
 
(625
)
 
(220
)
 
(405
)
 
 
384

 
134

 
250

 
 
460

 
161

 
299

AOCI, December 31
 
$
2,094

 
$
722

 
$
1,372

 
 
$
2,719

 
$
942

 
$
1,777

 
 
$
2,335

 
$
808

 
$
1,527

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension obligations:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, January 1
 
$
(36
)
 
$
(12
)
 
$
(24
)
 
 
$
(18
)
 
$
(6
)
 
$
(12
)
 
 
$
(101
)
 
$
(35
)
 
$
(66
)
OCI excluding amortization recognized in net income
 
(12
)
 
(5
)
 
(7
)
 
 
(21
)
 
(7
)
 
(14
)
 
 
83

 
29

 
54

Amortization recognized in net income
 
6

 
3

 
3

 
 
3

 
1

 
2

 
 
—

 
—

 
—

OCI
 
(6
)
 
(2
)
 
(4
)
 
 
(18
)
 
(6
)
 
(12
)
 
 
83

 
29

 
54

AOCI, December 31
 
$
(42
)
 
$
(14
)
 
$
(28
)
 
 
$
(36
)
 
$
(12
)
 
$
(24
)
 
 
$
(18
)
 
$
(6
)
 
$
(12
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Life deferred acquisition costs, life policy reserves and other:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, January 1
 
$
(12
)
 
$
(3
)
 
$
(9
)
 
 
$
(16
)
 
$
(5
)
 
$
(11
)
 
 
$
(50
)
 
$
(17
)
 
$
(33
)
OCI before realized gains recognized in net income
 
14

 
5

 
9

 
 
7

 
3

 
4

 
 
40

 
14

 
26

Realized gains and losses recognized in net income
 
(1
)
 
(1
)
 
—

 
 
(3
)
 
(1
)
 
(2
)
 
 
(6
)
 
(2
)
 
(4
)
OCI
 
13

 
4

 
9

 
 
4

 
2

 
2

 
 
34

 
12

 
22

AOCI, December 31
 
$
1

 
$
1

 
$
—

 
 
$
(12
)
 
$
(3
)
 
$
(9
)
 
 
$
(16
)
 
$
(5
)
 
$
(11
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Summary of AOCI:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
AOCI, January 1
 
$
2,671

 
$
927

 
$
1,744

 
 
$
2,301

 
$
797

 
$
1,504

 
 
$
1,724

 
$
595

 
$
1,129

Investments OCI
 
(625
)
 
(220
)
 
(405
)
 
 
384

 
134

 
250

 
 
460

 
161

 
299

Pension obligations OCI
 
(6
)
 
(2
)
 
(4
)
 
 
(18
)
 
(6
)
 
(12
)
 
 
83

 
29

 
54

Life deferred acquisition costs, life policy reserves and other OCI
 
13

 
4

 
9

 
 
4

 
2

 
2

 
 
34

 
12

 
22

Total OCI
 
(618
)
 
(218
)
 
(400
)
 
 
370

 
130

 
240

 
 
577

 
202

 
375

AOCI, December 31
 
$
2,053

 
$
709

 
$
1,344

 
 
$
2,671

 
$
927

 
$
1,744

 
 
$
2,301

 
$
797

 
$
1,504