Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2017

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

A reconciliation of the components of accumulated other comprehensive loss at September 30, 2017 and 2016 is as follows:

	September 30
	2017			2016
Investments, excluding non-credit component of other-than-temporary impairments:
Gross unrealized gains	$	940.9		$	1,068.9
Gross unrealized losses	(80.1		)	(74.2		)
Net pre-tax unrealized gains	860.8			994.7
Deferred tax liability	(309.9		)	(364.0		)
Net unrealized gains on investments	550.9			630.7
Non-credit components of other-than-temporary impairments on investments:
Unrealized losses	(0.2		)	(12.1		)
Deferred tax asset	0.1			4.3
Net unrealized non-credit component of other-than-temporary impairments on investments	(0.1		)	(7.8		)
Cash flow hedges:
Gross unrealized losses	(363.2		)	(852.0		)
Deferred tax asset	127.1			298.2
Net unrealized losses on cash flow hedges	(236.1		)	(553.8		)
Defined benefit pension plans:
Deferred net actuarial loss	(632.9		)	(615.8		)
Deferred prior service credits	(0.8		)	(0.3		)
Deferred tax asset	248.4			243.0
Net unrecognized periodic benefit costs for defined benefit pension plans	(385.3		)	(373.1		)
Postretirement benefit plans:
Deferred net actuarial loss	(138.0		)	(153.4		)
Deferred prior service costs	49.5			63.2
Deferred tax asset	34.6			35.5
Net unrecognized periodic benefit costs for postretirement benefit plans	(53.9		)	(54.7		)
Foreign currency translation adjustments:
Gross unrealized losses	(2.4		)	(7.9		)
Deferred tax asset	0.9			2.7
Net unrealized losses on foreign currency translation adjustments	(1.5		)	(5.2		)
Accumulated other comprehensive loss	$	(126.0	)	$	(363.9	)

Other comprehensive income (loss) reclassification adjustments for the three months ended September 30, 2017 and 2016 are as follows:

	Three Months Ended September 30
	2017			2016
Investments:
Net holding gain on investment securities arising during the period, net of tax expense of (48.5) and ($36.7), respectively	$	87.6		$	63.4
Reclassification adjustment for net realized gain on investment securities, net of tax expense of $42.6 and $31.3, respectively	(79.0		)	(58.1		)
Total reclassification adjustment on investments	8.6			5.3
Non-credit component of other-than-temporary impairments on investments:
Non-credit component of other-than-temporary impairments on investments, net of tax expense of ($0.2) and ($4.9), respectively	—			9.3
Cash flow hedges:
Holding loss, net of tax benefit of $2.5 and $9.2, respectively	(4.9		)	(17.2		)
Other:
Net change in unrecognized periodic benefit costs for defined benefit pension and postretirement benefit plans, net of tax expense of ($3.0) and ($1.7), respectively	4.7			3.2
Foreign currency translation adjustment, net of tax expense of ($0.2) and ($0.3), respectively	0.5			0.4
Net gain recognized in other comprehensive income, net of tax expense of ($6.8) and ($3.1), respectively	$	8.9		$	1.0

Other comprehensive income (loss) reclassification adjustments for the nine months ended September 30, 2017 and 2016 are as follows:

	Nine Months Ended September 30
	2017			2016
Investments:
Net holding gain on investment securities arising during the period, net of tax expense of ($161.2) and ($275.8), respectively	$	297.0		$	454.3
Reclassification adjustment for net realized gain on investment securities, net of tax expense of $57.8 and $36.0, respectively	(107.3		)	(66.9		)
Total reclassification adjustment on investments	189.7			387.4
Non-credit component of other-than-temporary impairments on investments:
Non-credit component of other-than-temporary impairments on investments, net of tax expense of ($2.7) and ($1.0), respectively	4.5			2.2
Cash flow hedges:
Holding loss, net of tax benefit of $36.4 and $254.5, respectively	(67.7		)	(472.7		)
Other:
Net change in unrecognized periodic benefit costs for defined benefit pension and postretirement benefit plans, net of tax expense of ($8.2) and ($7.0), respectively	12.8			10.8
Foreign currency translation adjustment, net of tax expense of ($1.3) and ($0.5), respectively	2.6			1.0
Net gain (loss) recognized in other comprehensive income, net of tax (expense) benefit of ($79.2) and $6.2, respectively	$	141.9		$	(71.3	)