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Other Comprehensive Income
 12 Months Ended
Dec. 31, 2018
Equity [Abstract]  
Other Comprehensive Income

10. OTHER COMPREHENSIVE INCOME

The following table provides changes in other comprehensive income.

 

YEARS ENDED DECEMBER 31

 

2018

 

 

2017

 

 

2016

 

 

 

 

 

 

 

Tax

 

 

 

 

 

 

 

 

 

 

Tax

 

 

 

 

 

 

 

 

 

 

Tax

 

 

 

 

 

 

 

 

 

 

 

Benefit

 

 

Net of

 

 

 

 

 

 

Benefit

 

 

Net of

 

 

 

 

 

 

Benefit

 

 

Net of

 

(in millions)

 

Pre-Tax

 

 

(Expense)

 

 

Tax

 

 

Pre-Tax

 

 

(Expense)

 

 

Tax

 

 

Pre-Tax

 

 

(Expense)

 

 

Tax

 

Unrealized gains (losses) on available-

   for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized gains (losses) arising

   during period

 

$

(209.7

)

 

$

44.0

 

 

$

(165.7

)

 

$

77.0

 

 

$

(27.9

)

 

$

49.1

 

 

$

95.9

 

 

$

(33.4

)

 

$

62.5

 

Amount of realized (gains) losses

   from sales and other

 

 

2.5

 

 

 

(9.7

)

 

 

(7.2

)

 

 

(30.8

)

 

 

(1.4

)

 

 

(32.2

)

 

 

(36.5

)

 

 

(8.0

)

 

 

(44.5

)

Portion of other-than-temporary

   impairment losses recognized

   in earnings

 

 

3.5

 

 

 

(0.7

)

 

 

2.8

 

 

 

3.9

 

 

 

(1.4

)

 

 

2.5

 

 

 

27.9

 

 

 

(9.8

)

 

 

18.1

 

Unrealized losses (gains) realized

   with sale of Chaucer business

 

 

24.2

 

 

 

(5.1

)

 

 

19.1

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Net unrealized gains (losses)

 

 

(179.5

)

 

 

28.5

 

 

 

(151.0

)

 

 

50.1

 

 

 

(30.7

)

 

 

19.4

 

 

 

87.3

 

 

 

(51.2

)

 

 

36.1

 

Pension and postretirement benefits:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net gains (losses) arising in the

   period from net actuarial (gains)

   losses and prior service costs

 

 

(21.3

)

 

 

4.3

 

 

 

(17.0

)

 

 

17.0

 

 

 

(3.4

)

 

 

13.6

 

 

 

(43.1

)

 

 

12.8

 

 

 

(30.3

)

Amortization of net actuarial losses

   (gains) and prior service costs

   recognized as net periodic

   benefit cost

 

 

9.7

 

 

 

(2.0

)

 

 

7.7

 

 

 

14.0

 

 

 

(4.6

)

 

 

9.4

 

 

 

9.9

 

 

 

(3.5

)

 

 

6.4

 

Pension obligations recognized with

   sale of Chaucer business

 

 

21.2

 

 

 

(4.8

)

 

 

16.4

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total pension and postretirement benefits

 

 

9.6

 

 

 

(2.5

)

 

 

7.1

 

 

 

31.0

 

 

 

(8.0

)

 

 

23.0

 

 

 

(33.2

)

 

 

9.3

 

 

 

(23.9

)

Cumulative foreign currency

   translation adjustment:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation

   recognized during the period

 

 

(2.2

)

 

 

0.5

 

 

 

(1.7

)

 

 

3.7

 

 

 

(1.3

)

 

 

2.4

 

 

 

(5.1

)

 

 

1.8

 

 

 

(3.3

)

Currency translation obligation

   recognized with sale of Chaucer

   business

 

 

29.4

 

 

 

(6.2

)

 

 

23.2

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total cumulative foreign currency

   translation adjustment

 

 

27.2

 

 

 

(5.7

)

 

 

21.5

 

 

 

3.7

 

 

 

(1.3

)

 

 

2.4

 

 

 

(5.1

)

 

 

1.8

 

 

 

(3.3

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss)

 

$

(142.7

)

 

$

20.3

 

 

$

(122.4

)

 

$

84.8

 

 

$

(40.0

)

 

$

44.8

 

 

$

49.0

 

 

$

(40.1

)

 

$

8.9

 

 

Reclassifications out of accumulated other comprehensive income were as follows:

 

YEARS ENDED DECEMBER 31

 

2018

 

 

2017

 

 

2016

 

 

 

(in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount Reclassified from

 

 

 

Details about Accumulated Other

 

Accumulated

 

 

Affected Line Item in the Statement

Comprehensive Income Components

 

Other Comprehensive Income

 

 

Where Net Income is Presented

Unrealized gains (losses) on

   available-for- sale securities

 

$

(3.2

)

 

$

26.6

 

 

$

36.2

 

 

Net realized gains (losses) from sales and other

 

 

 

(2.6

)

 

 

(3.6

)

 

 

(27.4

)

 

Net other-than-temporary impairment losses

   on investments recognized in earnings

 

 

 

(5.8

)

 

 

23.0

 

 

 

8.8

 

 

Total before tax

 

 

 

10.3

 

 

 

4.2

 

 

 

17.7

 

 

Tax benefit

 

 

 

4.5

 

 

 

27.2

 

 

 

26.5

 

 

Continuing operations; net of tax

 

 

 

(19.1

)

 

 

—

 

 

 

—

 

 

Gain on sale of Chaucer business

 

 

 

(0.2

)

 

 

2.5

 

 

 

(0.2

)

 

Discontinued operations - Chaucer business

 

 

 

0.1

 

 

 

—

 

 

 

(0.1

)

 

Discontinued life business; net of tax

 

 

 

(14.7

)

 

 

29.7

 

 

 

26.2

 

 

Net of tax

Amortization of defined benefit

   pension and postretirement plans

 

 

(9.5

)

 

 

(12.4

)

 

 

(9.7

)

 

Loss adjustment expenses and other operating

   expenses (1)

 

 

 

1.9

 

 

 

4.3

 

 

 

3.4

 

 

Tax benefit

 

 

 

(7.6

)

 

 

(8.1

)

 

 

(6.3

)

 

Continuing operations; net of tax

 

 

 

(16.4

)

 

 

—

 

 

 

—

 

 

Gain on sale of Chaucer business

 

 

 

(0.1

)

 

 

(1.3

)

 

 

(0.1

)

 

Discontinued operations - Chaucer business

 

 

 

(24.1

)

 

 

(9.4

)

 

 

(6.4

)

 

Net of tax

Currency translation obligation

   recognized with sale of

   Chaucer business

 

 

(23.2

)

 

 

—

 

 

 

—

 

 

Gain on sale of Chaucer business

Total reclassifications for the period

 

$

(62.0

)

 

$

20.3

 

 

$

19.8

 

 

Benefit (detriment) to income, net of tax

 

(1)

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 for each of the years ended December 31, 2018, 2017 and 2016.