Fair Value (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value Disclosures [Abstract]

Fair Value Measurements By Level For Assets Measured At Fair Value On A Recurring Basis

A summary of fair value measurements by level for assets and liabilities measured at fair value on a recurring basis at December 31, 2013 and 2012 is as follows:

	Level I		Level II			Level III		Total
December 31, 2013
Assets:
Cash equivalents	$	632.3	$	—		$	—	$	632.3
Investments available-for-sale:
Fixed maturity securities:
United States Government securities	299.9		—			—		299.9
Government sponsored securities	—		173.5			—		173.5
States, municipalities and political subdivisions, tax-exempt	—		6,002.7			—		6,002.7
Corporate securities	—		7,593.4			115.2		7,708.6
Options embedded in convertible securities	—		89.2			—		89.2
Residential mortgage-backed securities	—		2,268.9			—		2,268.9
Commercial mortgage-backed securities	—		480.1			6.5		486.6
Other debt securities	35.6		408.3			14.8		458.7
Total fixed maturity securities	335.5		17,016.1			136.5		17,488.1
Equity securities	1,475.7		249.7			41.4		1,766.8
Other invested assets, current	16.3		—			—		16.3
Securities lending collateral	408.5		561.3			—		969.8
Derivatives excluding embedded options (reported with other assets)	—		58.4			—		58.4
Total assets	$	2,868.3	$	17,885.5		$	177.9	$	20,931.7
Liabilities:
Derivatives excluding embedded options (reported with other liabilities)	$	—	$	(20.7	)	$	—	$	(20.7	)
Total liabilities	$	—	$	(20.7	)	$	—	$	(20.7	)
December 31, 2012:
Assets:
Cash equivalents	$	728.3	$	—		$	—	$	728.3
Investments available-for-sale:
Fixed maturity securities:
United States Government securities	343.2		—			—		343.2
Government sponsored securities	—		156.2			—		156.2
States, municipalities and political subdivisions, tax-exempt	—		5,882.2			—		5,882.2
Corporate securities	—		7,882.9			121.1		8,004.0
Options embedded in convertible securities	—		67.2			—		67.2
Residential mortgage-backed securities	—		2,300.5			4.3		2,304.8
Commercial mortgage-backed securities	—		345.7			—		345.7
Other debt securities	33.8		203.4			3.9		241.1
Total fixed maturity securities	377.0		16,838.1			129.3		17,344.4
Equity securities	1,103.1		113.2			26.2		1,242.5
Other invested assets, current	14.8		—			—		14.8
Securities lending collateral	231.7		332.9			—		564.6
Derivatives excluding embedded options (reported with other assets)	—		58.6			—		58.6
Total assets	$	2,454.9	$	17,342.8		$	155.5	$	19,953.2
Liabilities:
Derivatives excluding embedded options (reported with other liabilities)	$	—	$	(0.1	)	$	—	$	(0.1	)
Total liabilities	$	—	$	(0.1	)	$	—	$	(0.1	)

Reconciliation Of The Beginning And Ending Balances Of Assets Measured At Fair Value On A Recurring Basis Using Level III Inputs

A reconciliation of the beginning and ending balances of assets measured at fair value on a recurring basis using Level III inputs for the years ended December 31, 2013, 2012 and 2011 is as follows:

	Corporate Securities			Residential Mortgage- backed Securities			Commercial Mortgage- backed Securities			Other Debt Securities			Equity Securities			Total
Year Ended December 31, 2013:
Beginning balance at January 1, 2013	$	121.1		$	4.3		$	—		$	3.9		$	26.2		$	155.5
Total gains (losses):
Recognized in net income	(30.3		)	—			—			(0.1		)	(4.8		)	(35.2		)
Recognized in accumulated other comprehensive income	(3.5		)	—			—			0.6			9.5			6.6
Purchases	51.9			—			—			1.6			17.6			71.1
Sales	(4.8		)	—			—			—			(7.1		)	(11.9		)
Settlements	(15.5		)	(1.9		)	(6.1		)	(0.7		)	—			(24.2		)
Transfers into Level III	3.0			13.1			12.6			9.8			—			38.5
Transfers out of Level III	(6.7		)	(15.5		)	—			(0.3		)	—			(22.5		)
Ending balance at December 31, 2013	$	115.2		$	—		$	6.5		$	14.8		$	41.4		$	177.9
Change in unrealized losses included in net income related to assets still held for the year ended December 31, 2013	$	(30.8	)	$	—		$	—		$	(0.1	)	$	(6.5	)	$	(37.4	)
Year Ended December 31, 2012:
Beginning balance at January 1, 2012	$	195.1		$	—		$	6.3		$	59.0		$	24.4		$	284.8
Total gains (losses):
Recognized in net income	15.2			—			—			0.1			(0.9		)	14.4
Recognized in accumulated other comprehensive income	(19.7		)	—			0.1			0.7			(14.2		)	(33.1		)
Purchases	77.8			3.0			3.4			—			4.9			89.1
Business combinations	2.6			—			—			—			—			2.6
Sales	(29.8		)	—			—			(16.6		)	(0.5		)	(46.9		)
Settlements	(67.8		)	(0.1		)	(0.1		)	(1.3		)	—			(69.3		)
Transfers into Level III	2.9			1.4			1.9			12.0			12.5			30.7
Transfers out of Level III	(55.2		)	—			(11.6		)	(50.0		)	—			(116.8		)
Ending balance at December 31, 2012	$	121.1		$	4.3		$	—		$	3.9		$	26.2		$	155.5
Change in unrealized losses included in net income related to assets still held for the year ended December 31, 2012	$	—		$	—		$	—		$	—		$	(0.7	)	$	(0.7	)
Year Ended December 31, 2011:
Beginning balance at January 1, 2011	$	278.4		$	3.8		$	7.8		$	81.4		$	17.3		$	388.7
Total gains (losses):
Recognized in net income	5.2			—			—			(1.7		)	(7.0		)	(3.5		)
Recognized in accumulated other comprehensive income	(3.0		)	0.1			0.1			—			4.1			1.3
Purchases	31.2			2.8			2.6			12.2			10.2			59.0
Sales	(27.6		)	(9.1		)	(8.2		)	(22.9		)	(0.4		)	(68.2		)
Settlements	(130.5		)	(0.8		)	(1.4		)	(17.7		)	—			(150.4		)
Transfers into Level III	41.4			9.7			5.4			7.8			0.2			64.5
Transfers out of Level III	—			(6.5		)	—			(0.1		)	—			(6.6		)
Ending balance at December 31, 2011	$	195.1		$	—		$	6.3		$	59.0		$	24.4		$	284.8
Change in unrealized losses included in net income related to assets still held for the year ended December 31, 2011	$	(0.6	)	$	—		$	—		$	(1.2	)	$	(7.0	)	$	(8.8	)

Carrying And Fair Values By Level Of Financial Instruments Not Recorded At Fair Value On Consolidated Balance Sheet

A summary of the carrying value and fair value by level of financial instruments not recorded at fair value on our consolidated balance sheets at December 31, 2013 and 2012 are as follows:

	Carrying Value		Fair Value
			Level I		Level II		Level III		Total
December 31, 2013
Assets:
Other invested assets, long-term	$	1,542.6	$	—	$	—	$	1,542.6	$	1,542.6
Liabilities:
Debt:
Short-term borrowings	400.0		—		400.0		—		400.0
Commercial paper	379.2		—		379.2		—		379.2
Notes	12,746.4		—		13,014.3		—		13,014.3
Convertible debentures	966.0		—		2,030.6		—		2,030.6
December 31, 2012
Assets:
Other invested assets, long-term	$	1,387.7	$	—	$	—	$	1,387.7	$	1,387.7
Liabilities:
Debt:
Short-term borrowings	250.0		—		250.0		—		250.0
Commercial paper	570.9		—		570.9		—		570.9
Notes	13,198.9		—		14,407.1		—		14,407.1
Convertible debentures	958.1		—		1,613.4		—		1,613.4