XML 59 R41.htm IDEA: XBRL DOCUMENT v3.20.4
Other Comprehensive Income (Tables)
 12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Changes in Other Comprehensive Income (Loss)

The following table provides changes in other comprehensive income (loss).

YEARS ENDED DECEMBER 31

 

2020

 

 

2019

 

 

 

 

2018

 

 

 

 

 

 

 

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

 

Changes in net unrealized gains (losses) on investment securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net unrealized gains (losses) arising

   during period for those having

   no credit losses in Consolidated

   Statements of Income

 

$

274.6

 

 

$

(57.7

)

 

$

216.9

 

 

$

326.0

 

 

 

 

$

(68.5

)

 

 

 

$

257.5

 

 

 

 

$

(206.2

)

 

 

 

$

43.3

 

 

 

 

$

(162.9

)

Net unrealized gains (losses) arising during

   period for those having credit

   losses in Consolidated Statements

   of Income

 

 

1.3

 

 

 

(0.2

)

 

 

1.1

 

 

 

1.5

 

 

 

 

 

(0.4

)

 

 

 

 

1.1

 

 

 

 

 

(3.5

)

 

 

 

 

0.7

 

 

 

 

 

(2.8

)

Amount of (gains) losses realized

   from sales and other recognized

   in Consolidated Statements of

   Income

 

 

(13.5

)

 

 

(6.4

)

 

 

(19.9

)

 

 

(5.0

)

 

 

 

 

(13.7

)

 

 

 

 

(18.7

)

 

 

 

 

2.5

 

 

 

 

 

(9.7

)

 

 

 

 

(7.2

)

Amount of credit losses

   recognized in Consolidated

   Statements of Income

 

 

1.2

 

 

 

(0.3

)

 

 

0.9

 

 

 

2.1

 

 

 

 

 

(0.4

)

 

 

 

 

1.7

 

 

 

 

 

3.5

 

 

 

 

 

(0.7

)

 

 

 

 

2.8

 

Amount of additional impairment

   losses recognized in

   Consolidated Statements of

   Income

 

 

16.6

 

 

 

(3.5

)

 

 

13.1

 

 

 

—

 

 

 

 

 

—

 

 

 

 

 

—

 

 

 

 

 

—

 

 

 

 

 

—

 

 

 

 

 

—

 

Unrealized losses (gains) realized

   with sale of Chaucer business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.1

 

 

 

 

 

—

 

 

 

 

 

0.1

 

 

 

 

 

24.2

 

 

 

 

 

(5.1

)

 

 

 

 

19.1

 

Net unrealized gains (losses)

 

 

280.2

 

 

 

(68.1

)

 

 

212.1

 

 

 

324.7

 

 

 

 

 

(83.0

)

 

 

 

 

241.7

 

 

 

 

 

(179.5

)

 

 

 

 

28.5

 

 

 

 

 

(151.0

)

Pension and postretirement benefits:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net gains (losses) arising in the

   period from net actuarial (gains)

   losses

 

 

3.9

 

 

 

(0.8

)

 

 

3.1

 

 

 

20.5

 

 

 

 

 

(4.3

)

 

 

 

 

16.2

 

 

 

 

 

(21.3

)

 

 

 

 

4.3

 

 

 

 

 

(17.0

)

Amortization of net actuarial losses

   and prior service costs

   recognized as net periodic

   benefit cost

 

 

6.0

 

 

 

(1.3

)

 

 

4.7

 

 

 

11.4

 

 

 

 

 

(2.4

)

 

 

 

 

9.0

 

 

 

 

 

9.7

 

 

 

 

 

(2.0

)

 

 

 

 

7.7

 

Pension obligations recognized with

   sale of Chaucer business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

 

—

 

 

 

 

 

—

 

 

 

 

 

21.2

 

 

 

 

 

(4.8

)

 

 

 

 

16.4

 

Total pension and postretirement

   benefits

 

 

9.9

 

 

 

(2.1

)

 

 

7.8

 

 

 

31.9

 

 

 

 

 

(6.7

)

 

 

 

 

25.2

 

 

 

 

 

9.6

 

 

 

 

 

(2.5

)

 

 

 

 

7.1

 

Cumulative foreign currency

   translation adjustment:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation

   recognized during the period

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

 

—

 

 

 

 

 

—

 

 

 

 

 

(2.2

)

 

 

 

 

0.5

 

 

 

 

 

(1.7

)

Currency translation obligation

   recognized with sale of Chaucer

   business

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.9

 

 

 

 

 

(0.2

)

 

 

 

 

0.7

 

 

 

 

 

29.4

 

 

 

 

 

(6.2

)

 

 

 

 

23.2

 

Total cumulative foreign currency

   translation adjustment

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.9

 

 

 

 

 

(0.2

)

 

 

 

 

0.7

 

 

 

 

 

27.2

 

 

 

 

 

(5.7

)

 

 

 

 

21.5

 

Other comprehensive income (loss)

 

$

290.1

 

 

$

(70.2

)

 

$

219.9

 

 

$

357.5

 

 

 

 

$

(89.9

)

 

 

 

$

267.6

 

 

 

 

$

(142.7

)

 

 

 

$

20.3

 

 

 

 

$

(122.4

)
Reclassifications Out of Accumulated Other Comprehensive Income

Reclassifications out of accumulated other comprehensive income were as follows:

YEARS ENDED DECEMBER 31

 

2020

 

 

2019

 

 

2018

 

 

 

(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

Net unrealized gains (losses) on

  investment securities

 

$

13.4

 

 

$

5.0

 

 

$

(3.2

)

 

Net realized gains (losses) from sales and other

 

 

 

(17.6

)

 

 

(2.0

)

 

 

(2.6

)

 

Impairment losses on investments

 

 

 

(4.2

)

 

 

3.0

 

 

 

(5.8

)

 

Total before tax

 

 

 

10.2

 

 

 

14.1

 

 

 

10.3

 

 

Tax benefit

 

 

 

6.0

 

 

 

17.1

 

 

 

4.5

 

 

Continuing operations; net of tax

 

 

 

—

 

 

 

(0.1

)

 

 

(19.1

)

 

Gain on sale of Chaucer business

 

 

 

—

 

 

 

—

 

 

 

(0.2

)

 

Discontinued operations - Chaucer business

 

 

 

(0.1

)

 

 

(0.1

)

 

 

0.1

 

 

Discontinued life businesses

 

 

 

5.9

 

 

 

16.9

 

 

 

(14.7

)

 

Net of tax

Amortization of defined benefit

   pension and postretirement actuarial

   losses

 

 

(6.0

)

 

 

(11.4

)

 

 

(9.5

)

 

Loss adjustment expenses and other operating

   expenses (1)

 

 

 

1.3

 

 

 

2.4

 

 

 

1.9

 

 

Tax benefit

 

 

 

(4.7

)

 

 

(9.0

)

 

 

(7.6

)

 

Continuing operations; net of tax

 

 

 

—

 

 

 

—

 

 

 

(16.4

)

 

Gain on sale of Chaucer business

 

 

 

—

 

 

 

—

 

 

 

(0.1

)

 

Discontinued operations - Chaucer business

 

 

 

(4.7

)

 

 

(9.0

)

 

 

(24.1

)

 

Net of tax

Currency translation obligation

   recognized with sale of

   Chaucer business

 

 

—

 

 

 

(0.7

)

 

 

(23.2

)

 

Gain on sale of Chaucer business

Total reclassifications for the period

 

$

1.2

 

 

$

7.2

 

 

$

(62.0

)

 

Benefit (expense) reflected in 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, 2020, 2019 and 2018.