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Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of New Accounting Pronouncements
Accounting Updates Adopted in 2015:
Accounting Standards Codification (ASC)
 
Description
 
Date of Adoption
 
Effect on Financial Statements
ASC 860 "Transfers and Servicing"
 
This update changed the accounting for repurchase-to-maturity transactions and linked repurchase financings to secured borrowing accounting, which is consistent with the accounting for other repurchase agreements. The update also required disclosures for repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions.
 
January 1, 2015, except for certain disclosures, which were effective April 1, 2015.
 
The adoption of this update expanded our disclosures, but had no effect on our financial position or results of operations.
 
 
 
 
 
 
 
ASC 323 "Investments - Equity Method and Joint Ventures"
 
This update permitted entities to make an accounting policy election to account for investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). Additional disclosures concerning investments in qualified affordable housing projects were also required. We elected to adopt this guidance and applied the amendments in the update retrospectively, adjusting all prior periods in our consolidated financial statements and accompanying notes.
 
January 1, 2015
 
The cumulative effect at January 1, 2013, was an $8.1 million reduction in stockholders' equity. The following table summarizes the effects of our retrospective adoption on periods reported herein.

 
 Historical
 
 
 
Effect
 
 Historical
 
 
 
Effect
 
 Accounting
 
 As
 
of
 
 Accounting
 
 As
 
of
 
 Method
 
 Adjusted
 
 Change
 
 Method
 
 Adjusted
 
 Change
 
(in millions of dollars, except share data)
 
Year Ended December 31, 2014
 
Year Ended December 31, 2013
Consolidated Statements of Income
 
 
 
 
 
 
 
 
 
 
 
Net Investment Income
$
2,477.4

 
$
2,492.2

 
$
14.8

 
$
2,492.1

 
$
2,506.9

 
$
14.8

Income Tax - Current
103.3

 
135.5

 
32.2

 
296.6

 
328.5

 
31.9

Income Tax - Deferred
10.5

 
4.4

 
(6.1
)
 
50.5

 
44.5

 
(6.0
)
Net Income
413.4

 
402.1

 
(11.3
)
 
858.1

 
847.0

 
(11.1
)
 
 
 
 
 
 
 
 
 
 
 
 
Net Income Per Common Share
 
 
 
 
 
 
 
 
 
 
 
Basic
1.62

 
1.57

 
(0.05
)
 
3.24

 
3.20

 
(0.04
)
Assuming Dilution
1.61

 
1.57

 
(0.04
)
 
3.23

 
3.19

 
(0.04
)
 
 
 
 
 
 
 
 
 
 
 
 
Consolidated Statements of Comprehensive Income
 
 
 
 
 
 
 
 
 
 
 
Net Income
$
413.4

 
$
402.1

 
$
(11.3
)
 
$
858.1

 
$
847.0

 
$
(11.1
)
 
 
 
 
 
 
 
 
 
 
 
 
Consolidated Statements of Stockholders' Equity
 
 
 
 
 
 
 
 
 
 
 
Retained Earnings
 
 
 
 
 
 
 
 
 
 
 
Balance at Beginning of Year
$
8,083.2

 
$
8,064.0

 
$
(19.2
)
 
$
7,371.6

 
$
7,363.5

 
$
(8.1
)
Net Income
413.4

 
402.1

 
(11.3
)
 
858.1

 
847.0

 
(11.1
)
Balance at End of Year
7,332.8

 
7,302.3

 
(30.5
)
 
8,083.2

 
8,064.0

 
(19.2
)
 
 
 
 
 
 
 
 
 
 
 
 
Consolidated Statements of Cash Flows
 
 
 
 
 
 
 
 
 
 
 
Net Income
$
413.4

 
$
402.1

 
$
(11.3
)
 
$
858.1

 
$
847.0

 
$
(11.1
)
Change in Income Taxes
(44.7
)
 
(18.6
)
 
26.1

 
(49.4
)
 
(23.5
)
 
25.9

Non-cash Components of Net Investment Income
(180.9
)
 
(195.7
)
 
(14.8
)
 
(211.5
)
 
(226.3
)
 
(14.8
)
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2014
 
 
Consolidated Balance Sheets
 
 
 
 
 
 
 
 
 
 
 
Other Long-term Investments
$
591.9

 
$
545.0

 
$
(46.9
)
 
 
 
 
 
 
Deferred Income Tax
78.4

 
62.0

 
(16.4
)
 
 
 
 
 
 
Retained Earnings
7,332.8

 
7,302.3

 
(30.5
)