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Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2012
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
The notional amounts and fair values of derivatives were as follows as of December 31, 2012 and 2011:
 
2012
 
2011
 
Notional
Amount
 
Asset
Fair Value
 
Liability
Fair Value
 
Notional
Amount
 
Asset
Fair Value
 
Liability
Fair Value
Derivatives: Qualifying for hedge accounting
 
 
 
 
 
 
 
 
 
 
 
Cash flow hedges:
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
$
1,000.0

 
$
215.4

 
$
—

 
$
1,000.0

 
$
173.9

 
$
—

Derivatives: Non-qualifying for hedge accounting
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
18,131.1

 
292.9

 
328.5

 
17,555.1

 
269.4

 
306.4

Foreign exchange contracts
161.6

 
0.4

 
18.3

 
213.4

 
0.7

 
32.4

Equity contracts
14.5

 
0.4

 
—

 
—

 
—

 
—

Credit contracts
347.5

 
3.6

 
—

 
548.4

 
2.6

 
21.2

Managed custody guarantees
N/A

 
—

 
—

 
N/A

 
—

 
1.0

Embedded derivatives:
 
 
 
 
 
 
 
 
 
 
 
Within fixed maturity investments
N/A

 
53.7

 
—

 
N/A

 
59.2

 
—

Within annuity products
N/A

 
—

 
122.4

 
N/A

 
—

 
236.3

Total
 
 
$
566.4

 
$
469.2

 
 
 
$
505.8

 
$
597.3

N/A - Not Applicable
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
Net realized gains (losses) on derivatives were as follows for the years ended December 31, 2012, 2011 and 2010:
 
2012
 
2011
 
2010
Derivatives: Qualifying for hedge accounting(1)
 
 
 
 
 
Cash flow hedges:
 
 
 
 
 
Interest rate contracts
$
—

 
$
—

 
$
—

Fair value hedges:
 
 
 
 
 
Interest rate contracts
—

 
—

 
—

Derivatives: Non-qualifying for hedge accounting(2)
 
 
 
 
 
Interest rate contracts
(18.9
)
 
(58.3
)
 
(61.4
)
Foreign exchange contracts
6.9

 
(0.7
)
 
7.4

Equity contracts
2.0

 
(0.5
)
 
0.5

Credit contracts
11.3

 
(4.8
)
 
8.9

Managed custody guarantees
1.1

 
1.1

 
4.1

Embedded derivatives:
 
 
 
 
 
Within fixed maturity investments(2)
(5.5
)
 
4.9

 
8.0

Within annuity products(2)
119.3

 
(217.2
)
 
5.2

Total
$
116.2

 
$
(275.5
)
 
$
(27.3
)
(1) Changes in value for effective fair value hedges are recorded in Other net realized capital gains (losses). Changes in fair value upon disposal for effective cash flow hedges are recorded in Other net realized capital gains (losses) in the Consolidated Statements of Operations. For the years ended December 31, 2012, 2011 and 2010, ineffective amounts are deemed to be immaterial.
(2) Changes in value are included in Other net realized capital gains (losses) in the Consolidated Statements of Operations.