Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Summary of pretax income (loss)

The following summarizes pretax income (loss) (in millions):

	Year Ended December 31,
	2013		2012			2011
U.S.	$	516.3	$	580.1		$	273.5
International	28.6		(60.6		)	0.5
Total	$	544.9	$	519.5		$	274.0

Schedule of components of provision for income taxes (benefits)

Provision for income taxes (benefits) consists of the following components (in millions):

	Year Ended December 31,
	2013			2012			2011
Current
Federal	$	154.6		$	167.9		$	69.6
State and local	32.8			25.7			10.4
International	15.8			12.9			9.4
Total current	203.2			206.5			89.4
Deferred
Federal	(6.0		)	(3.2		)	11.0
State and local	(0.6		)	(4.7		)	0.4
International	(4.3		)	(3.1		)	(5.0		)
Total deferred	(10.9		)	(11.0		)	6.4
Total provision for income taxes	$	192.3		$	195.5		$	95.8

Schedule of differences between the effective income tax rate and the U.S. federal income tax statutory rate

Differences between the Company's effective income tax rate and the U.S. federal income tax statutory rate are as follows (in millions):

	Year Ended December 31,
	2013			2012			2011
Provision for income taxes using the statutory rate in effect	$	190.5		$	181.8		$	95.9
Tax effect of:
State and local income taxes, net	6.1			6.6			7.0
International income taxes, net	2.4			25.8			1.8
Earnings of U.S. unconsolidated affiliates	(2.3		)	(2.9		)	(2.8		)
Valuation allowance	(1.7		)	3.0			1.8
Tax credits	(4.9		)	(20.3		)	(10.5		)
Uncertain tax positions	15.9			15.0			7.7
Dividend received deduction	(2.5		)	(3.0		)	(2.2		)
Domestic production activities deduction	(17.3		)	(9.7		)	(6.9		)
Repatriation	7.5			0.6			2.0
Other	(1.4		)	(1.4		)	2.0
Total provision for income taxes	$	192.3		$	195.5		$	95.8
Effective tax rate	35.3		%	37.6		%	35.0		%
Statutory federal tax rate	35.0		%	35.0		%	35.0		%

Schedule of federal and state deferred tax assets (liabilities)

The federal and state deferred tax assets (liabilities) recorded on the Consolidated Balance Sheet are as follows (in millions):

	December 31,
	2013			2012
Liabilities:
Deferred cancellation of debt income	$	(92.4	)	$	(93.0	)
Investments in available for sale securities	(201.1		)	(173.4		)
Unconsolidated affiliates and investments	—			(12.2		)
Accumulated depreciation and amortization	(36.9		)	(34.8		)
Prepaid expenses	(7.0		)	(4.9		)
Debenture original issue discount	—			(19.3		)
Total deferred tax liabilities	(337.4		)	(337.6		)
Assets:
Deferred compensation and other employee benefits	30.4			46.3
Net operating loss	14.1			16.9
Book accruals	36.4			29.9
Unconsolidated affiliates and investments	1.5			—
Other	1.4			1.9
Total deferred tax assets	83.8			95.0
Valuation allowance	(10.2		)	(14.6		)
Net deferred tax liability	$	(263.8	)	$	(257.2	)

Schedule of reconciliation of the beginning and ending amounts of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions):

	Year Ended December 31,
	2013			2012			2011
Balance at beginning of year	$	101.2		$	93.5		$	75.0
Additions based on tax positions related to the current year	14.6			15.9			7.3
Additions for tax positions of prior years	5.2			18.3			14.4
Reductions for tax positions of prior years	(17.3		)	(24.3		)	(2.2		)
Settlements	(0.9		)	—			(0.4		)
Statute expirations	(0.6		)	(2.2		)	(0.6		)
Balance at end of year	$	102.2		$	101.2		$	93.5