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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2013
Employee benefit plans  
Stock Purchase Plan
Stock Purchase Plan
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
(dollars in millions)
Proceeds from purchase of shares by employees
$
0.9

 
$
0.6

 
$
0.7

Number of shares issued by the Company
57,980

 
54,612

 
50,523

Recorded in share-based compensation, after the effects of DAC
$
0.3

 
$
0.2

 
$
0.2
Share-Based Compensation Expense Summary
Share‑Based Compensation Expense Summary

 
Year Ended December 31,
 
2013
 
2012
 
2011
 
(in millions)
Share‑Based Employee Cost:
 
 
 
 
 
Recurring amortization
$
7

 
$
6

 
$
5

Accelerated amortization for retirement eligible employees
—

 
1

 
5

Subtotal
7

 
7

 
10

ESPP
—

 
—

 
—

Total Share‑Based Employee Cost
7

 
7

 
10

Total Share‑Based Directors Cost
1

 
1

 
1

Total Share‑Based Cost
8

 
8

 
11

Less: Share‑based compensation capitalized as DAC
—

 
1

 
3

Share‑based compensation expense
$
8

 
$
7

 
$
8

Income tax benefit
$
2

 
$
2

 
$
2
Lattice Option Pricing
  
Employee benefit plans  
Schedule of Weighted Average Assumptions on Option Pricing
Lattice Option Pricing
Weighted Average Assumptions(1)

 
2013
 
2012
Dividend yield
2.07
%
 
2.06
%
Expected volatility
53.41
%
 
58.89
%
Risk free interest rate
1.35
%
 
1.45
%
Expected life
6.6 years

 
6.6 years

Forfeiture rate
4.5
%
 
4.5
%
Weighted average grant date fair value
$
8.94

 
8.62


____________________
(1)
No options were granted in 2011.
Monte Carlo and Lattice Option Pricing
  
Employee benefit plans  
Schedule of Weighted Average Assumptions on Option Pricing
Monte Carlo and Lattice Option Pricing
Weighted Average Assumptions

 
2013
 
2012
Dividend yield
2.07
%
 
2.06
%
Expected volatility
53.5
%
 
58.89
%
Risk free interest rate
1.36
%
 
1.45
%
Expected life
6.3 years

 
6.3 years

Forfeiture rate
4.5
%
 
4.5
%
Weighted average grant date fair value
$
8.17

 
$
7.84
Stock Options
  
Employee benefit plans  
Schedule of Stock Options
Time Vested Stock Options

 
Options for
Common Shares
 
Weighted
Average
Exercise Price
 
Weighted
Average Grant
Date Fair Value
Per Share
 
Number of
Exercisable
Options
 
Year of
Expiration
Balance as of December 31, 2012
4,229,555

 
$
20.10

 

 
4,047,374

 

Options granted
102,355

 
19.36

 
$
8.94

 

 
2020
Options exercised
(1,199,339
)
 
17.75

 

 

 

Options forfeited/expired
(3,320
)
 
24.21

 

 

 

Balance as of December 31, 2013
3,129,251

 
$
20.97

 

 
2,987,088

 
Performance Stock Options
  
Employee benefit plans  
Schedule of Stock Options
Performance Stock Options

 
Options for
Common Shares
 
Weighted
Average
Exercise Price
 
Weighted
Average Grant
Date Fair Value
Per Share
 
Number of
Exercisable
Options
 
Year of
Expiration
Balance as of December 31, 2012
293,077

 
$
17.44

 

 
0

 

Options granted
72,640

 
19.24

 
$
8.17

 

 
2020
Options exercised
—

 
—

 

 

 

Options forfeited/expired
—

 
—

 

 

 

Balance as of December 31, 2013
365,717

 
$
17.80

 

 
0

 
Restricted Stock Awards
  
Employee benefit plans  
Restricted Stock Award Activity
Restricted Stock Award Activity

Nonvested Shares
 
Number of
Shares
 
Weighted
Average Grant
Date Fair Value
Per Share
Nonvested at December 31, 2012
88,549

 
$
12.93

Granted
48,273

 
23.20

Vested
(88,549
)
 
12.93

Forfeited
—

 
—

Nonvested at December 31, 2013
48,273

 
$
23.20
Restricted Stock Units
  
Employee benefit plans  
Restricted Stock Unit Activity (Excluding Dividend Equivalents)
Restricted Stock Unit Activity
(Excluding Dividend Equivalents)

Nonvested Stock Units
 
Number of
Stock Units
 
Weighted
Average Grant
Date Fair Value
Per Share
Nonvested at December 31, 2012
1,006,411

 
$
16.78

Granted
93,580

 
19.29

Delivered
(361,157
)
 
15.04

Forfeited
(2,425
)
 
17.85

Nonvested at December 31, 2013
736,409

 
$
17.63
Performance Restricted Stock Units
  
Employee benefit plans  
Restricted Stock Unit Activity (Excluding Dividend Equivalents)
Performance Restricted Stock Unit Activity

Performance Restricted Stock Units
 
Number of
Performance Share Units
 
Weighted
Average Grant
Date Fair Value
Per Share
Nonvested at December 31, 2012
178,970

 
$
27.35

Granted
44,440

 
29.54

Delivered
—

 
—

Forfeited
—

 
—

Nonvested at December 31, 2013
223,410

 
$
27.79