Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2014

Defined Benefit Plans and Other Postretirement Benefit Plans

Schedule of Changes in Projected Benefit Obligations [Table Text Block]

The following tables provide the changes in the benefit obligation and fair value of plan assets and statements of the funded status of the plans.



	Pension Benefits
	U.S. Plans						U.K. Plan						OPEB
	2014			2013			2014			2013			2014			2013
	(in millions of dollars)
Change in Benefit Obligation
Benefit Obligation at Beginning of Year	$	1,718.7		$	1,967.9		$	208.7		$	197.4		$	165.3		$	198.8
Service Cost	3.7			59.4			2.3			4.3			0.3			0.7
Interest Cost	89.9			86.3			9.1			8.6			7.9			8.0
Plan Participant Contributions	—			—			—			—			4.1			3.9
Actuarial (Gain) Loss	343.5			(225.9		)	25.2			2.6			12.9			(30.2		)
Benefits and Expenses Paid	(48.7		)	(42.2		)	(4.3		)	(4.1		)	(16.6		)	(15.9		)
Curtailment	—			(126.8		)	—			(3.7		)	—			—
Settlements	(214.5		)	—			—			—			—			—
Change in Foreign Exchange Rates	—			—			(14.1		)	3.6			—			—
Benefit Obligation at End of Year	$	1,892.6		$	1,718.7		$	226.9		$	208.7		$	173.9		$	165.3

Accumulated Benefit Obligation at December 31	$	1,892.6		$	1,718.7		$	215.3		$	197.7		N/A			N/A

Change in Fair Value of Plan Assets
Fair Value of Plan Assets at Beginning of Year	$	1,590.7		$	1,353.6		$	225.7		$	205.6		$	11.4		$	11.5
Actual Return on Plan Assets	140.9			224.6			37.8			15.6			0.4			0.2
Employer Contributions	5.3			54.7			2.3			4.0			12.0			11.7
Plan Participant Contributions	—			—			—			—			4.1			3.9
Benefits and Expenses Paid	(48.7		)	(42.2		)	(4.3		)	(4.1		)	(16.6		)	(15.9		)
Settlements	(214.5		)	—			—			—			—			—
Change in Foreign Exchange Rates	—			—			(15.2		)	4.6			—			—
Fair Value of Plan Assets at End of Year	$	1,473.7		$	1,590.7		$	246.3		$	225.7		$	11.3		$	11.4

Underfunded (Overfunded) Status	$	418.9		$	128.0		$	(19.4	)	$	(17.0	)	$	162.6		$	153.9

Schedule of Amounts Recognized in Balance Sheet [Table Text Block]

The amounts recognized in our consolidated balance sheets for our pension and OPEB plans at December 31, 2014 and 2013 are as follows.



	Pension Benefits
	U.S. Plans						U.K. Plan						OPEB
	2014			2013			2014			2013			2014			2013
	(in millions of dollars)
Current Liability	$	5.4		$	5.2		$	—		$	—		$	13.7		$	14.6
Noncurrent Liability	413.5			136.2			—			—			148.9			139.3
Noncurrent Asset	—			(13.4		)	(19.4		)	(17.0		)	—			—
Underfunded (Overfunded) Status	$	418.9		$	128.0		$	(19.4	)	$	(17.0	)	$	162.6		$	153.9

Unrecognized Pension and Postretirement Benefit Costs
Net Actuarial Gain (Loss)	$	(593.0	)	$	(342.1	)	$	(35.4	)	$	(36.9	)	$	(2.6	)	$	10.3
Prior Service Credit	—			—			—			—			0.7			2.4
	(593.0		)	(342.1		)	(35.4		)	(36.9		)	(1.9		)	12.7
Deferred Income Tax Asset	207.5			119.7			10.4			10.9			10.9			5.8
Total Included in Accumulated Other Comprehensive Income (Loss)	$	(385.5	)	$	(222.4	)	$	(25.0	)	$	(26.0	)	$	9.0		$	18.5

Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

The following table provides the changes recognized in other comprehensive income for the years ended December 31, 2014 and 2013.



	Pension Benefits
	U.S. Plans						U.K. Plan						OPEB
	2014			2013			2014			2013			2014			2013
	(in millions of dollars)
Accumulated Other Comprehensive Income (Loss) at Beginning of Year	$	(222.4	)	$	(549.9	)	$	(26.0	)	$	(27.0	)	$	18.5		$	2.4
Net Actuarial Gain (Loss)
Amortization	5.2			31.7			0.4			1.2			—			—
Curtailment	—			126.8			—			—			—			—
Settlements	64.4			—			—			—			—			—
All Other Changes	(320.5		)	344.8			1.1			(0.2		)	(12.9		)	29.6
Prior Service Credit (Cost)
Amortization	—			(0.1		)	—			—			(1.7		)	(4.9		)
Curtailment	—			0.7			—			(3.7		)	—			—
Plan Amendment	—			—			—			3.9			—			—
Change in Deferred Income Tax Asset	87.8			(176.4		)	(0.5		)	(0.2		)	5.1			(8.6		)
Accumulated Other Comprehensive Income (Loss) at End of Year	$	(385.5	)	$	(222.4	)	$	(25.0	)	$	(26.0	)	$	9.0		$	18.5

Fair Values by Fair Value Hierarchy Input Level

Fair value measurements by input level for financial instruments carried at fair value are as follows:



	December 31, 2014
	Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	(in millions of dollars)
Assets
Fixed Maturity Securities
United States Government and Government Agencies and Authorities	$	297.5	$	941.0	$	—	$	1,238.5
States, Municipalities, and Political Subdivisions	—		1,981.4		140.1		2,121.5
Foreign Governments	—		1,238.1		69.3		1,307.4
Public Utilities	106.2		8,129.4		315.0		8,550.6
Mortgage/Asset-Backed Securities	—		2,431.8		—		2,431.8
All Other Corporate Bonds	2,556.6		25,383.3		1,425.3		29,365.2
Redeemable Preferred Stocks	—		25.0		24.9		49.9
Total Fixed Maturity Securities	2,960.3		40,130.0		1,974.6		45,064.9

Other Long-term Investments
Derivatives
Interest Rate Swaps	—		5.7		—		5.7
Foreign Exchange Contracts	—		22.3		—		22.3
Total Derivatives	—		28.0		—		28.0
Equity Securities	—		11.1		1.4		12.5

Liabilities
Other Liabilities
Derivatives
Interest Rate Swaps	$	—	$	20.8	$	—	$	20.8
Foreign Exchange Contracts	—		70.9		—		70.9
Credit Default Swaps	—		1.2		—		1.2
Embedded Derivative in Modified Coinsurance Arrangement	—		—		49.9		49.9
Total Derivatives	—		92.9		49.9		142.8



	December 31, 2013
	Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	(in millions of dollars)
Assets
Fixed Maturity Securities
United States Government and Government Agencies and Authorities	$	144.5	$	1,051.6	$	—	$	1,196.1
States, Municipalities, and Political Subdivisions	—		1,608.1		175.1		1,783.2
Foreign Governments	—		1,294.7		78.5		1,373.2
Public Utilities	246.0		7,611.9		139.3		7,997.2
Mortgage/Asset-Backed Securities	—		2,038.8		0.5		2,039.3
All Other Corporate Bonds	2,132.8		23,861.6		1,923.3		27,917.7
Redeemable Preferred Stocks	—		13.9		23.8		37.7
Total Fixed Maturity Securities	2,523.3		37,480.6		2,340.5		42,344.4

Other Long-term Investments
Derivatives
Interest Rate Swaps	—		9.2		—		9.2
Foreign Exchange Contracts	—		1.6		—		1.6
Total Derivatives	—		10.8		—		10.8
Equity Securities	—		11.8		4.6		16.4

Liabilities
Other Liabilities
Derivatives
Interest Rate Swaps	$	—	$	35.0	$	—	$	35.0
Foreign Exchange Contracts	—		98.7		—		98.7
Credit Default Swaps	—		1.9		—		1.9
Embedded Derivative in Modified Coinsurance Arrangement	—		—		53.2		53.2
Total Derivatives	—		135.6		53.2		188.8

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

Changes in assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) are as follows:



	Year Ended December 31, 2014
				Total Realized and Unrealized Investment Gains (Losses) Included in
	Beginning of Year			Earnings			Other Comprehensive Income or Loss			Purchases		Sales			Level 3 Transfers					End of Year
															Into		Out of
	(in millions of dollars)
Fixed Maturity Securities
States, Municipalities, and Political Subdivisions	$	175.1		$	—		$	21.0		$	—	$	(1.4	)	$	—	$	(54.6	)	$	140.1
Foreign Governments	78.5			1.1			0.8			—		(11.1		)	—		—			69.3
Public Utilities	139.3			—			6.9			—		(0.8		)	199.9		(30.3		)	315.0
Mortgage/Asset-Backed Securities	0.5			(0.2		)	0.3			—		(0.6		)	—		—			—
All Other Corporate Bonds	1,923.3			0.7			44.8			91.1		(147.7		)	626.9		(1,113.8		)	1,425.3
Redeemable Preferred Stocks	23.8			—			1.1			—		—			—		—			24.9
Total Fixed Maturity Securities	2,340.5			1.6			74.9			91.1		(161.6		)	826.8		(1,198.7		)	1,974.6

Equity Securities	4.6			10.5			(0.2		)	—		(13.5		)	—		—			1.4
Embedded Derivative in Modified Coinsurance Arrangement	(53.2		)	3.3			—			—		—			—		—			(49.9		)

	Year Ended December 31, 2013
				Total Realized and Unrealized Investment Gains (Losses) Included in
	Beginning of Year			Earnings			Other Comprehensive Income or Loss			Purchases		Sales			Level 3 Transfers					End of Year
															Into		Out of
	(in millions of dollars)
Fixed Maturity Securities
States, Municipalities, and Political Subdivisions	$	128.7		$	—		$	(13.1	)	$	—	$	(1.0	)	$	60.5	$	—		$	175.1
Foreign Governments	82.1			—			(3.6		)	—		—			—		—			78.5
Public Utilities	226.4			—			(1.1		)	—		(3.1		)	101.9		(184.8		)	139.3
Mortgage/Asset-Backed Securities	0.5			—			0.1			—		(0.1		)	—		—			0.5
All Other Corporate Bonds	1,525.8			1.1			(156.8		)	186.7		(122.0		)	1,511.9		(1,023.4		)	1,923.3
Redeemable Preferred Stocks	24.8			—			(1.0		)	—		—			—		—			23.8
Total Fixed Maturity Securities	1,988.3			1.1			(175.5		)	186.7		(126.2		)	1,674.3		(1,208.2		)	2,340.5

Equity Securities	4.3			—			0.3			—		—			—		—			4.6
Embedded Derivative in Modified Coinsurance Arrangement	(83.9		)	30.7			—			—		—			—		—			(53.2		)

Realized and unrealized investment gains and losses presented in the preceding tables represent gains and losses only for the time during which the applicable financial instruments were classified as Level 3. The transfers between levels resulted primarily from a change in observability of three inputs used to determine fair values of the securities transferred: (1) transactional data for new issuance and secondary trades, (2) broker/dealer quotes and pricing, primarily related to changes in the level of activity in the market and whether the market was considered orderly, and (3) comparable bond metrics from which to perform an analysis. For fair value measurements of financial instruments that were transferred either into or out of Level 3, we reflect the transfers using the fair value at the beginning of the period. We believe this allows for greater transparency, as all changes in fair value that arise during the reporting period of the transfer are disclosed as a component of our Level 3 reconciliation. Gains for the years ended December 31, 2014 and 2013 which are included in earnings and are attributable to the change in unrealized gains or losses relating to assets or liabilities valued using significant unobservable inputs and still held at each year end were $3.3 million and $30.7 million, respectively. These amounts relate entirely to the changes in fair value of an embedded derivative in a modified coinsurance arrangement which are reported as realized investment gains and losses.

Schedule of Assumptions Used [Table Text Block]

We use a December 31 measurement date for each of our plans. The weighted average assumptions used in the measurement of our benefit obligations as of December 31 and our net periodic benefit costs for the years ended December 31 are as follows:



	Pension Benefits
	U.S. Plans				U.K. Plan				OPEB
	2014		2013		2014		2013		2014		2013
Benefit Obligations
Discount Rate	4.40	%	5.30	%	3.60	%	4.40	%	4.30	%	5.00	%
Rate of Compensation Increase	N/A		4.00	%	3.60	%	3.90	%	N/A		N/A

Net Periodic Benefit Cost
Discount Rate	5.30	%	4.50% / 5.00%*		4.40	%	4.50% / 4.60%**		5.00	%	4.20	%
Expected Return on Plan Assets	7.50	%	7.50	%	6.10	%	6.20% / 6.35%**		5.75	%	5.75	%
Rate of Compensation Increase	N/A		4.00	%	3.90	%	3.75	%	N/A		N/A

*In conjunction with the remeasurement due to the 2013 plan amendment, a discount rate of 4.50% was used for the period January 1, 2013 through the date of remeasurement, and a discount rate of 5.00% was used for the period subsequent to the date of remeasurement through December 31, 2013.

**In conjunction with the remeasurement due to the 2013 plan amendment, a discount rate of 4.50% and expected return on plan assets of 6.20% were used for the period January 1, 2013 through the date of remeasurement, and a discount rate of 4.60% and expected return on plan assets of 6.35% were used for the period subsequent to the date of remeasurement through December 31, 2013.

Schedule of Net Benefit Costs [Table Text Block]

Net Periodic Benefit Cost

The following table provides the components of the net periodic benefit cost for the plans described above for the years ended December 31.



	Pension Benefits
	U.S. Plans									U.K. Plan									OPEB
	2014			2013			2012			2014			2013			2012			2014			2013			2012
	(in millions of dollars)
Service Cost	$	3.7		$	59.4		$	48.8		$	2.3		$	4.3		$	4.2		$	0.3		$	0.7		$	1.6
Interest Cost	89.9			86.3			84.4			9.1			8.6			8.5			7.9			8.0			9.6
Expected Return on Plan Assets	(117.8		)	(105.5		)	(88.8		)	(13.7		)	(12.5		)	(11.1		)	(0.7		)	(0.6		)	(0.7		)
Amortization of:
Net Actuarial Loss	5.2			31.7			45.9			0.4			1.2			0.5			—			—			—
Prior Service Credit	—			(0.1		)	(0.4		)	—			—			—			(1.7		)	(4.9		)	(2.6		)
Curtailment	—			0.7			—			—			(3.7		)	—			—			—			—
Settlement	64.4			—			—			—			—			—			—			—			—
Total Net Periodic Benefit Cost	$	45.4		$	72.5		$	89.9		$	(1.9	)	$	(2.1	)	$	2.1		$	5.8		$	3.2		$	7.9

Schedule of Expected Benefit Payments [Table Text Block]

The following table provides expected benefit payments, which reflect expected future service, as appropriate.



	Pension Benefits
	U.S. Plans		U.K. Plan		OPEB
	(in millions of dollars)
Year					Gross		Subsidy Payments		Net
2015	$	49.8	$	5.5	$	15.9	$	1.9	$	14.0
2016	54.1		6.0		15.6		2.1		13.5
2017	58.2		6.2		15.3		2.3		13.0
2018	62.6		6.4		14.9		2.4		12.5
2019	67.0		7.0		14.6		2.7		11.9
2020-2024	409.6		39.4		65.4		15.5		49.9

Pension Benefits, U.S. Plans

Defined Benefit Plans and Other Postretirement Benefit Plans

Fair Values by Fair Value Hierarchy Input Level

The categorization of fair value measurements by input level for the invested assets in our U.S. pension plans is as follows:



	December 31, 2014
	Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	(in millions of dollars)
Invested Assets
Equity Securities:
U.S. Large Cap	$	—	$	181.4	$	—	$	181.4
U.S. Mid Cap	—		88.3		—		88.3
U.S. Small Cap	118.7		—		—		118.7
International	71.0		63.5		—		134.5
Emerging Markets	—		40.0		—		40.0
Fixed Income Securities:
U.S. Government and Agencies	243.5		14.6		—		258.1
Corporate	1.6		321.2		—		322.8
State and Municipal Securities	—		2.9		—		2.9
Opportunistic Credits	62.8		85.0		—		147.8
Alternative Investments:
Private Equity Direct Investments	—		—		17.2		17.2
Private Equity Funds of Funds	—		—		34.9		34.9
Hedge Funds of Funds	—		—		70.0		70.0
Cash Equivalents	52.8		—		—		52.8
Total Invested Assets	$	550.4	$	796.9	$	122.1	$	1,469.4



	December 31, 2013
	Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	(in millions of dollars)
Invested Assets
Equity Securities:
U.S. Large Cap	$	—	$	343.9	$	—	$	343.9
U.S. Mid Cap	—		139.6		—		139.6
U.S. Small Cap	231.9		—		—		231.9
International	134.5		131.7		—		266.2
Emerging Markets	—		76.3		—		76.3
Fixed Income Securities:
U.S. Government and Agencies	105.7		7.4		—		113.1
Corporate	97.8		172.6		—		270.4
State and Municipal Securities	—		12.9		—		12.9
Alternative Investments:
Private Equity Direct Investments	—		—		7.2		7.2
Private Equity Funds of Funds	—		—		29.6		29.6
Hedge Funds of Funds	—		—		66.9		66.9
Cash Equivalents	28.4		—		—		28.4
Total Invested Assets	$	598.3	$	884.4	$	103.7	$	1,586.4

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

Changes in our U.S. pension plans' assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the years ended December 31, 2014 and 2013 are as follows:



	Year Ended December 31, 2014
	Beginning of Year		Actual Return on Plan Assets					Purchases		Sales			Level 3 Transfers				End of Year
	Beginning of Year		Held at Year End		Sold During the Year			Purchases		Sales			Into		Out of		End of Year
	(in millions of dollars)
Private Equity Direct Investments	$	7.2	$	1.7	$	0.1		$	9.0	$	(0.8	)	$	—	$	—	$	17.2
Private Equity Funds of Funds	29.6		4.8		2.6			3.9		(6.0		)	—		—		34.9
Hedge Funds of Funds	66.9		3.2		(0.1		)	25.9		(25.9		)	—		—		70.0
Total	$	103.7	$	9.7	$	2.6		$	38.8	$	(32.7	)	$	—	$	—	$	122.1



	Year Ended December 31, 2013
	Beginning of Year		Actual Return on Plan Assets				Purchases		Sales			Level 3 Transfers				End of Year
	Beginning of Year		Held at Year End		Sold During the Year		Purchases		Sales			Into		Out of		End of Year
	(in millions of dollars)
Private Equity Direct Investments	$	—	$	0.3	$	—	$	8.4	$	(1.5	)	$	—	$	—	$	7.2
Private Equity Funds of Funds	28.7		0.9		1.1		2.1		(3.2		)	—		—		29.6
Hedge Funds of Funds	56.1		6.3		—		4.9		(0.4		)	—		—		66.9
Total	$	84.8	$	7.5	$	1.1	$	15.4	$	(5.1	)	$	—	$	—	$	103.7

Pension Benefits, Non U.S. Plans

Defined Benefit Plans and Other Postretirement Benefit Plans

Fair Values by Fair Value Hierarchy Input Level

The categorization of fair value measurements by input level for the assets in our U.K. pension plan is as follows.



	December 31, 2014
	Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	(in millions of dollars)
Plan Assets
Diversified Growth Assets	$	—	$	167.6	$	—	$	167.6
Fixed Interest and Index-linked Securities	78.0		—		—		78.0
Cash Equivalents	0.7		—		—		0.7
Total Plan Assets	$	78.7	$	167.6	$	—	$	246.3



	December 31, 2013
	Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	(in millions of dollars)
Plan Assets
Diversified Growth Assets	$	—	$	172.0	$	—	$	172.0
Fixed Interest and Index-linked Securities	52.6		0.4		—		53.0
Cash Equivalents	0.7		—		—		0.7
Total Plan Assets	$	53.3	$	172.4	$	—	$	225.7