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Investment Income
 12 Months Ended
Dec. 31, 2011
Investment Income [Abstract]  
Investment Income [Text Block] NOTE 6 Investment income

NOTE 6

Investment income. Income from investments and gross realized investment and other gains and losses follow:

 

                         
    2011     2010     2009  
    ($000 omitted)  

Investment income:

                        

Debt securities

     13,860       15,014       18,639  

Short-term investments, cash equivalents and other

     1,645       3,383       2,165  
   

 

 

    

 

 

    

 

 

  
      15,505       18,397       20,804  
   

 

 

    

 

 

    

 

 

  

Investment and other gains (losses):

                        

Realized gains

     12,151       24,055       23,881  

Realized losses

     (9,849 )      (2,273 )      (16,515 ) 
   

 

 

    

 

 

    

 

 

  
      2,302       21,782       7,366  
   

 

 

    

 

 

    

 

 

  

Proceeds from the sales of investments available-for-sale were $292.0 million, $280.9 million and $400.7 million for the years ended December 31, 2011, 2010 and 2009, respectively. Expenses assignable to investment income were insignificant. There were no significant investments at December 31, 2011 that did not produce income during the year.

In 2011, investment and other gains (losses) — net included realized gains of $10.7 million from the sale of debt and investments available-for-sale, partially offset by realized losses of $3.5 million for the impairment of cost-basis investments and $4.3 million from a loss on a third-party loan guarantee obligation.

In 2010, investment and other gains (losses) — net included realized gains of $11.8 million from the sale of debt and investments available-for-sale, $6.3 million primarily from a transfer of the rights to internally developed software, $1.2 million from the sale of interests in subsidiaries and $3.0 million from the sale of real estate.

In 2009, investment and other gains (losses) — net included realized gains of $16.3 million from the sale of debt and equity investments available-for-sale, $5.6 million from the sales of cost-basis investments and $1.0 million due to the change in estimates in office closure costs. The realized gains were partially offset by realized losses of $10.7 million from the impairment of equity method and cost-basis investments, $2.8 million from office closure costs and $1.3 million from the impairment of equity securities available-for-sale.