Non-Controlling Interest

12 Months Ended

Dec. 31, 2011

(13) NON-CONTROLLING INTEREST

The outstanding preferred stock issued by subsidiaries of PHI as of December 31, 2011 and 2010 consisted of the following series of serial preferred stock issued by ACE. The shares of each of the series were redeemable solely at the option of the issuer. During 2011, ACE redeemed all of its outstanding cumulative preferred stock at the redemption prices indicated in the table below.


	Redemption Price		Shares Outstanding				December 31,
	Redemption Price		2011		2010		2011		2010
							(millions of dollars)
4.0% Series of 1944, $100 per share par value	$	105.50		—		24,268	$	—	$	2
4.35% Series of 1949, $100 per share par value	$	101.00		—		2,942		—		—
4.35% Series of 1953, $100 per share par value	$	101.00		—		1,680		—		—
4.10% Series of 1954, $100 per share par value	$	101.00		—		20,504		—		2
4.75% Series of 1958, $100 per share par value	$	101.00		—		8,631		—		1
5.0% Series of 1960, $100 per share par value	$	100.00		—		4,120		—		1

Total Preferred Stock of Subsidiaries				—		62,145	$	—	$	6

- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

+ References+ Details