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Other Comprehensive Income
3 Months Ended
Mar. 31, 2013
Other Comprehensive Income

8. Other Comprehensive Income

The following table provides changes in other comprehensive income.

 

     Three Months Ended March 31,  
     2013     2012  

(in millions)

   Pre-Tax     Tax
Benefit
(Expense)
    Net of
Tax
    Pre-Tax     Tax
Benefit
(Expense)
    Net of
Tax
 

Unrealized gains on available-for-sale securities and derivative instruments:

            

Unrealized gains arising during period

   $ 25.0      $ (8.8   $ 16.2      $ 70.0      $ (20.9   $ 49.1   

Less:

            

Amount of realized gains from sales and other

     8.8        2.3        11.1        4.7        2.7        7.4   

Portion of other-than-temporary impairment losses recognized in earnings

     (0.5     0.2        (0.3     (2.9     0.7        (2.2
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net unrealized gains

     16.7        (11.3     5.4        68.2        (24.3     43.9   

Pension and postretirement benefits:

            

Amortization of net actuarial loss and prior service cost recognized as net periodic benefit cost

     2.9        (1.0     1.9        2.3        (0.8     1.5   

Cumulative foreign currency translation adjustment:

            

Foreign currency translation recognized during the period

     (15.4     5.4        (10.0     14.3        (5.0     9.3   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Other comprehensive income (loss)

   $ 4.2      $ (6.9   $ (2.7   $ 84.8      $ (30.1   $ 54.7   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Reclassifications out of accumulated other comprehensive income were as follows:

 

   

For the Three Months

Ended

     
    March 31,      

(in millions)

  2013     2012      
    Amount Reclassified from      

Details about Accumulated Other

Comprehensive Income Components

  Accumulated Other
Comprehensive Income
   

Affected Line Item in the Statement

Where Net Income is Presented

Unrealized gains on available-for-sale

  $ 8.7      $ 4.6     

Net realized gains from sales and other

securities and derivative instruments

     

Net other-than-temporary impairment losses on

    (0.5     (1.9  

investments recognized in earnings

Other

    0.1        —       
 

 

 

   

 

 

   
    8.3        2.7     

Total before tax

    2.5        3.4     

Tax benefit (expense)

 

 

 

   

 

 

   
    10.8        6.1     
    —          (0.9  

Discontinued operations, net of tax

 

 

 

   

 

 

   
    10.8        5.2     

Net of tax

 

 

 

   

 

 

   

Amortization of defined benefit pension

     

and postretirement plans

    2.9        2.3     

Loss adjustment expenses and other operating expenses

    (1.0     (0.8  

Tax benefit (expense)

 

 

 

   

 

 

   
    1.9        1.5     

Net of tax

 

 

 

   

 

 

   
     
 

 

 

   

 

 

   

Total reclassifications for the period

  $ 12.7      $ 6.7     

Net of tax

 

 

 

   

 

 

   

The amount reclassified from accumulated other comprehensive income for the pension and postretirement benefits was allocated approximately 40% to loss adjustment expenses and 60% to other operating expenses.