Income Tax (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Total income tax expense (benefit) is allocated as follows:

	Year Ended December 31
	2014			2013			2012
	(in millions of dollars)
Net Income	$	113.8		$	347.1		$	355.1
Stockholders' Equity - Additional Paid-in Capital
Stock-Based Compensation	(3.0		)	(0.8		)	3.5
Stockholders' Equity - Accumulated Other Comprehensive Income (Loss)
Change in Net Unrealized Gain on Securities Before Adjustment	725.8			(1,102.8		)	467.7
Change in Adjustment to Deferred Acquisition Costs and Reserves for Future Policy and Contract Benefits, Net of Reinsurance	(665.1		)	743.3			(325.6		)
Change in Net Gain on Cash Flow Hedges	(2.0		)	(1.3		)	(4.3		)
Change in Unrecognized Pension and Postretirement Benefit Costs	(92.4		)	185.2			(68.0		)
Total	$	77.1		$	170.7		$	428.4

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the income tax expense (benefit) attributable to income from operations before income tax, computed at U.S. federal statutory tax rates, to the income tax expense (benefit) as included in our consolidated statements of income, is as follows. Certain prior year amounts have been reclassified to conform to current year reporting.

	Year Ended December 31
	2014		2013		2012
Statutory Income Tax	35.0	%	35.0	%	35.0	%
Foreign Items	(4.3	)	(1.8	)	(1.9	)
Tax Credits	(8.1	)	(3.4	)	(2.7	)
Tax-exempt Investment Income	(2.3	)	(1.0	)	(0.9	)
Other Items, Net	1.3		—		(1.1	)
Effective Tax	21.6	%	28.8	%	28.4	%

Schedule of Deferred Tax Assets and Liabilities

Our net deferred tax liability consists of the following:

	December 31
	2014		2013
	(in millions of dollars)
Deferred Tax Liability
Deferred Acquisition Costs	$	97.4	$	70.0
Fixed Assets	93.0		80.3
Invested Assets	1,999.2		1,274.3
Other	64.6		54.4
Gross Deferred Tax Liability	2,254.2		1,479.0
Deferred Tax Asset
Reserves	1,919.2		1,180.1
Employee Benefits	254.0		151.2
Other	2.6		3.4
Gross Deferred Tax Asset	2,175.8		1,334.7
Total Net Deferred Tax Liability	$	78.4	$	144.3

Schedule of Income before Income Tax, Domestic and Foreign

Our consolidated statements of income include amounts subject to both domestic and foreign taxation. The income and related tax expense (benefit) are as follows:

	Year Ended December 31
	2014			2013		2012
	(in millions of dollars)
Income Before Tax
United States - Federal	$	376.9		$	1,072.0	$	1,128.4
Foreign	150.3			133.2		121.1
Total	$	527.2		$	1,205.2	$	1,249.5
Current Tax Expense (Benefit)
United States - Federal	$	128.4		$	277.9	$	164.4
Foreign	(25.1		)	18.7		42.2
Total	103.3			296.6		206.6
Deferred Tax Expense (Benefit)
United States - Federal	(44.4		)	47.3		173.5
Foreign	54.9			3.2		(25.0		)
Total	10.5			50.5		148.5
Total	$	113.8		$	347.1	$	355.1

Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible

Our consolidated statements of income include the following changes in unrecognized tax benefits:

	December 31
	2014			2013			2012
	(in millions of dollars)
Balance at Beginning of Year	$	18.4		$	17.5		$	86.9
Tax Positions Taken During Prior Years
Additions	1.7			5.7			13.3
Subtractions	—			—			(0.6		)
Settlements with Tax Authorities	(0.6		)	(4.8		)	(23.5		)
Lapses of Statute of Limitations	—			—			(61.1		)
Tax Positions Taken During Current Year	0.3			—			2.5
Balance at End of Year	19.8			18.4			17.5
Less Tax Attributable to Temporary Items Included Above	(10.4		)	(10.2		)	(15.0		)
Total Unrecognized Tax Benefits that if Recognized Would Affect the Effective Tax Rate	$	9.4		$	8.2		$	2.5