Income Taxes

3 Months Ended

Mar. 31, 2012

Income Tax Disclosure [Abstract]

Income Taxes

Note 9 - Income Taxes

Current and Deferred Income Tax Assets at March 31, 2012 and December 31, 2011 were:

(Dollars in Millions)	Mar 31, 2012			Dec 31, 2011
Current Income Tax Assets	$	—		$	2.5
Deferred Income Tax Assets	6.7			10.7
Valuation Allowance for State Income Taxes	(6.7		)	(6.8		)
Current and Deferred Income Tax Assets	$	—		$	6.4

The components of Liabilities for Income Taxes at March 31, 2012 and December 31, 2011 were:

(Dollars in Millions)	Mar 31, 2012		Dec 31, 2011
Current Income Tax Liabilities	$	9.8	$	—
Deferred Income Tax Liabilities	2.3		—
Unrecognized Tax Benefits	6.1		6.2
Liabilities for Income Taxes	$	18.2	$	6.2

During the first quarter of 2012, the Internal Revenue Service (“IRS”) began an audit of the Company’s 2009 and 2010 federal income tax returns. The Company reported a capital loss and a net operating loss in its 2009 federal income tax return and a net operating loss in its 2010 federal income tax return. The Company has carried these losses back to earlier tax years. The Company received refunds from carrying these losses back to earlier tax years. Even though the Company already has received the refunds, approval by the Joint Committee on Taxation (“JCT”) is required by law. The JCT has requested that the IRS perform an audit of these years before approving the refunds. The Company does not anticipate a material modification to the filed returns and the refunds that were received.

Income taxes paid were $2.4 million for the three months endedMarch 31, 2012. Income tax refunds received, net of income taxes paid of $7.8 million, were $17.1 million for the three months endedMarch 31, 2011.