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Other Comprehensive Income (Loss)
6 Months Ended
Jun. 30, 2014
Equity [Abstract]  
Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss) The components of other comprehensive income (loss), including reclassification adjustments by income statement line item, were as follows:
 
 
 
 
 
 
 
 
Components of Changes in
Accumulated Other
Comprehensive Income (after tax)
(millions)
Pretax total
accumulated
other
comprehensive
income

 
Total tax
(provision)
benefit

 
After tax total
accumulated
other
comprehensive
income

 
Total net
unrealized
gains (losses)
on securities

 
Net
unrealized
gains on
forecasted
transactions1,2

 
Foreign
currency
translation
adjustment

Balance at March 31, 2014
$
1,463.5

 
$
(512.2
)
 
$
951.3

 
$
946.9

 
$
3.8

 
$
.6

Other comprehensive income (loss) before reclassifications:
 
 
 
 
 
 
 
 
 
 
 
Investment securities
188.9

 
(66.1
)
 
122.8

 
122.8

 
0

 
0

Net non-credit related OTTI losses, adjusted for
  valuation changes
0

 
0

 
0

 
0

 
0

 
0

Forecasted transactions
(1.6
)
 
.6

 
(1.0
)
 
0

 
(1.0
)
 
0

Foreign currency translation adjustment
.8

 
(.3
)
 
.5

 
0

 
0

 
.5

Total other comprehensive income (loss) before reclassifications
188.1

 
(65.8
)
 
122.3

 
122.8

 
(1.0
)
 
.5

Less: Reclassification adjustment for amounts realized in net income by income statement line item:
 
 
 
 
 
 
 
 
 
 
 
Net impairment losses recognized in earnings
0

 
0

 
0

 
0

 
0

 
0

Net realized gains (losses) on securities
52.9

 
(18.5
)
 
34.4

 
34.4

 
0

 
0

Interest expense2
.5

 
(.2
)
 
.3

 
0

 
.3

 
0

Total reclassification adjustment for amounts realized in net income
53.4

 
(18.7
)
 
34.7

 
34.4

 
.3

 
0

Total other comprehensive income (loss)
134.7

 
(47.1
)
 
87.6

 
88.4

 
(1.3
)
 
.5

Balance at June 30, 2014
$
1,598.2

 
$
(559.3
)
 
$
1,038.9

 
$
1,035.3

 
$
2.5

 
$
1.1



 
 
 
 
 
 
 
Components of Changes in
Accumulated Other
Comprehensive Income (after tax)
(millions)
Pretax total
accumulated
other
comprehensive
income

 
Total tax
(provision)
benefit

 
After tax total
accumulated
other
comprehensive
income

 
Total net
unrealized
gains (losses)
on securities

 
Net
unrealized
gains on
forecasted
transactions1,2

 
Foreign
currency
translation
adjustment

Balance at December 31, 2013
$
1,464.1

 
$
(512.4
)
 
$
951.7

 
$
947.0

 
$
4.1

 
$
.6

Other comprehensive income (loss) before reclassifications:
 
 
 
 
 
 
 
 
 
 
 
Investment securities
320.7

 
(112.2
)
 
208.5

 
208.5

 
0

 
0

Net non-credit related OTTI losses, adjusted for
valuation changes
0

 
0

 
0

 
0

 
0

 
0

Forecasted transactions
(1.6
)
 
.6

 
(1.0
)
 
0

 
(1.0
)
 
0

Foreign currency translation adjustment
.8

 
(.3
)
 
.5

 
0

 
0

 
.5

Total other comprehensive income (loss) before reclassifications
319.9

 
(111.9
)
 
208.0

 
208.5

 
(1.0
)
 
.5

Less: Reclassification adjustment for amounts realized in net income by income statement line item:
 
 
 
 
 
 
 
 
 
 
 
Net impairment losses recognized in earnings
0

 
0

 
0

 
0

 
0

 
0

Net realized gains (losses) on securities
184.8

 
(64.6
)
 
120.2

 
120.2

 
0

 
0

Interest expense2
1.0

 
(.4
)
 
.6

 
0

 
.6

 
0

Total reclassification adjustment for amounts realized in net income
185.8

 
(65.0
)
 
120.8

 
120.2

 
.6

 
0

Total other comprehensive income (loss)
134.1

 
(46.9
)
 
87.2

 
88.3

 
(1.6
)
 
.5

Balance at June 30, 2014
$
1,598.2

 
$
(559.3
)
 
$
1,038.9

 
$
1,035.3

 
$
2.5

 
$
1.1

 
 
 
 
 
 
 
 
Components of Changes in
Accumulated Other
Comprehensive Income (after tax)
(millions)
Pretax total
accumulated
other
comprehensive
income

 
Total tax
(provision)
benefit

 
After tax total
accumulated
other
comprehensive
income

 
Total net
unrealized
gains (losses)
on securities

 
Net
unrealized
gains on
forecasted
transactions1

 
Foreign
currency
translation
adjustment

Balance at March 31, 2013
$
1,491.8

 
$
(522.1
)
 
$
969.7

 
$
961.9

 
$
5.8

 
$
2.0

Other comprehensive income (loss) before reclassifications:
 
 
 
 
 
 
 
 
 
 
 
Investment securities
(147.1
)
 
51.5

 
(95.6
)
 
(95.6
)
 
0

 
0

Net non-credit related OTTI losses, adjusted for
  valuation changes
.1

 
0

 
.1

 
.1

 
0

 
0

Forecasted transactions
0

 
0

 
0

 
0

 
0

 
0

Foreign currency translation adjustment
(1.2
)
 
.4

 
(.8
)
 
0

 
0

 
(.8
)
Total other comprehensive income (loss) before reclassifications
(148.2
)
 
51.9

 
(96.3
)
 
(95.5
)
 
0

 
(.8
)
Less: Reclassification adjustment for amounts realized in net income by income statement line item:
 
 
 
 
 
 
 
 
 
 
 
Net impairment losses recognized in earnings
(1.5
)
 
.5

 
(1.0
)
 
(1.0
)
 
0

 
0

Net realized gains (losses) on securities
92.0

 
(32.2
)
 
59.8

 
59.8

 
0

 
0

Interest expense
.5

 
(.1
)
 
.4

 
0

 
.4

 
0

Total reclassification adjustment for amounts realized in net income
91.0

 
(31.8
)
 
59.2

 
58.8

 
.4

 
0

Total other comprehensive income (loss)
(239.2
)
 
83.7

 
(155.5
)
 
(154.3
)
 
(.4
)
 
(.8
)
Balance at June 30, 2013
$
1,252.6

 
$
(438.4
)
 
$
814.2

 
$
807.6

 
$
5.4

 
$
1.2


 
 
 
 
 
 
 
Components of Changes in
Accumulated Other
Comprehensive Income (after tax)
(millions)
Pretax total
accumulated
other
comprehensive
income

 
Total tax
(provision)
benefit

 
After tax total
accumulated
other
comprehensive
income

 
Total net
unrealized
gains (losses)
on securities

 
Net
unrealized
gains on
forecasted
transactions1

 
Foreign
currency
translation
adjustment

Balance at December 31, 2012
$
1,340.0

 
$
(469.0
)
 
$
871.0

 
$
862.7

 
$
6.1

 
$
2.2

Other comprehensive income (loss) before reclassifications:
 
 
 
 
 
 
 
 
 
 
 
Investment securities
80.7

 
(28.2
)
 
52.5

 
52.5

 
0

 
0

Net non-credit related OTTI losses, adjusted for
valuation changes
.4

 
(.1
)
 
.3

 
.3

 
0

 
0

Forecasted transactions
0

 
0

 
0

 
0

 
0

 
0

Foreign currency translation adjustment
(1.5
)
 
.5

 
(1.0
)
 
0

 
0

 
(1.0
)
Total other comprehensive income (loss) before reclassifications
79.6

 
(27.8
)
 
51.8

 
52.8

 
0

 
(1.0
)
Less: Reclassification adjustment for amounts realized in net income by income statement line item:
 
 
 
 
 
 
 
 
 
 
 
Net impairment losses recognized in earnings
(1.6
)
 
.6

 
(1.0
)
 
(1.0
)
 
0

 
0

Net realized gains (losses) on securities
167.6

 
(58.7
)
 
108.9

 
108.9

 
0

 
0

Interest expense
1.0

 
(.3
)
 
.7

 
0

 
.7

 
0

Total reclassification adjustment for amounts realized in net income
167.0

 
(58.4
)
 
108.6

 
107.9

 
.7

 
0

Total other comprehensive income (loss)
(87.4
)
 
30.6

 
(56.8
)
 
(55.1
)
 
(.7
)
 
(1.0
)
Balance at June 30, 2013
$
1,252.6

 
$
(438.4
)
 
$
814.2

 
$
807.6

 
$
5.4

 
$
1.2


1Entered into for the purpose of managing interest rate risk associated with our debt issuances.
2We expect to reclassify $2.2 million (pretax) into income during the next 12 months, related to the net unrealized gains on forecasted transactions.