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Stockholders' Equity (Tables)
9 Months Ended
Sep. 30, 2015
Schedule of Common Stock Repurchases

Under the 2012 Repurchase Program and the 2014 Repurchase Program, as applicable, Alleghany repurchased shares of its common stock in the three and nine months ended September 30, 2015 and 2014 as follows:

 

     Three Months Ended
September 30,
     Nine Months Ended
September 30,
 
     2015      2014      2015      2014  

Shares repurchased

     324,661         148,231        412,844         549,853   

Cost of shares repurchased (in millions)

   $ 152.0       $ 62.5      $ 192.5       $ 222.4   

Average price per share repurchased

   $ 468.11       $ 421.89      $ 466.33       $ 404.55   
Reconciliation of Accumulated Other Comprehensive Income

The following table presents a reconciliation of the changes during the nine months ended September 30, 2015 and 2014 in accumulated other comprehensive income attributable to Alleghany stockholders:

 

     Unrealized
Appreciation of
Investments
     Unrealized
Currency
Translation
Adjustment
     Retirement
Plans
     Total  
     (in millions)  

Balance as of January 1, 2015

   $ 455.4       $ (89.2    $ (12.6    $ 353.6   

Other comprehensive income, net of tax:

           

Other comprehensive (loss) before reclassifications

     (198.7      (8.3      (0.3      (207.3

Reclassifications from accumulated other comprehensive income

     (30.0      —           —           (30.0
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

     (228.7      (8.3      (0.3      (237.3
  

 

 

    

 

 

    

 

 

    

 

 

 

Balance as of September 30, 2015

   $ 226.7       $ (97.5    $ (12.9    $ 116.3   
  

 

 

    

 

 

    

 

 

    

 

 

 
     Unrealized
Appreciation of
Investments
     Unrealized
Currency
Translation
Adjustment
     Retirement
Plans
     Total  
     (in millions)  

Balance as of January 1, 2014

   $ 238.4       $ (49.3    $ (2.2    $ 186.9   

Other comprehensive income, net of tax:

           

Other comprehensive income (loss) before reclassifications

     302.9         (19.8      0.1         283.2   

Reclassifications from accumulated other comprehensive income

     (124.1      —           —           (124.1
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

     178.8         (19.8      0.1         159.1   
  

 

 

    

 

 

    

 

 

    

 

 

 

Balance as of September 30, 2014

   $ 417.2       $ (69.1    $ (2.1    $ 346.0   
  

 

 

    

 

 

    

 

 

    

 

 

 
Reclassifications of Accumulated Other Comprehensive Income

Reclassifications out of accumulated other comprehensive income attributable to Alleghany stockholders during the three and nine months ended September 30, 2015 and 2014 were as follows:

 

Accumulated Other Comprehensive    Line in Consolidated    Three Months Ended
September 30,
     Nine Months Ended
September 30,
 

Income Component

  

Statement of Earnings

   2015      2014      2015      2014  
          (in millions)  

Unrealized appreciation of investments:

   Net realized capital gains    $ (29.2    $ (59.4    $ (158.5    $ (197.7 )
  

Other than temporary impairment losses

     52.7         0.7         112.3         6.9  
   Income taxes      (8.2      20.6         16.2         66.7  
     

 

 

    

 

 

    

 

 

    

 

 

 

Total reclassifications:

   Net earnings    $ 15.3       $ (38.1    $ (30.0    $ (124.1 )