Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2011

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block]

The valuation of assets measured at fair value in the Company’s Condensed Consolidated Balance Sheet at December 31, 2010 is summarized below:



	Fair Value Measurements
(Dollars in Millions)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value
Fixed Maturities:
U.S. Government and Government Agencies and Authorities	$	281.0	$	255.9	$	—	$	536.9
States and Political Subdivisions	—		1,792.8		—		1,792.8
Corporate Securities:
Bonds and Notes	—		1,902.8		146.2		2,049.0
Redeemable Preferred Stocks	—		83.8		4.5		88.3
Mortgage and Asset-backed	—		7.9		0.4		8.3
Total Investments in Fixed Maturities	281.0		4,043.2		151.1		4,475.3
Equity Securities:
Preferred Stocks:
Finance, Insurance and Real Estate	—		97.7		—		97.7
Other Industries	—		17.0		10.4		27.4
Common Stocks:
Intermec	137.5		—		—		137.5
Manufacturing	82.9		4.7		2.0		89.6
Other Industries	41.5		—		2.3		43.8
Other Equity Interests:
Exchange Traded Funds	79.2		—		—		79.2
Limited Liability Companies and Limited Partnerships	—		—		75.2		75.2
Total Investments in Equity Securities	341.1		119.4		89.9		550.4
Other Investments:
Trading Securities	5.1		—		—		5.1
Total	$	627.2	$	4,162.6	$	241.0	$	5,030.8

The valuation of assets measured at fair value in the Company’s Condensed Consolidated Balance Sheet at September 30, 2011 is summarized below:



	Fair Value Measurements
(Dollars in Millions)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value
Fixed Maturities:
U.S. Government and Government Agencies and Authorities	$	153.4	$	363.3	$	—	$	516.7
States and Political Subdivisions	—		1,903.3		—		1,903.3
Corporate Securities:
Bonds and Notes	—		2,088.6		186.6		2,275.2
Redeemable Preferred Stocks	—		77.0		4.5		81.5
Mortgage and Asset-backed	—		5.4		0.3		5.7
Total Investments in Fixed Maturities	153.4		4,437.6		191.4		4,782.4
Equity Securities:
Preferred Stocks:
Finance, Insurance and Real Estate	—		88.9		—		88.9
Other Industries	—		16.6		3.6		20.2
Common Stocks:
Manufacturing	65.7		4.5		2.1		72.3
Other Industries	38.0		—		3.5		41.5
Other Equity Interests:
Exchange Traded Funds	65.7		—		—		65.7
Limited Liability Companies and Limited Partnerships	—		—		72.2		72.2
Total Investments in Equity Securities	169.4		110.0		81.4		360.8
Other Investments:
Trading Securities	4.2		—		—		4.2
Total	$	327.0	$	4,547.6	$	272.8	$	5,147.4

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

Information by security type pertaining to the changes in the fair value of the Company’s investments classified as Level 3 for

the nine months ended September 30, 2010 is presented below:



	Fixed Maturities									Equity Securities
(Dollars in Millions)	Corporate Bonds and Notes			Redeemable Preferred Stocks			Mortgage and Asset- backed			Preferred and Common Stocks			Other Equity Interests			Total
Balance at Beginning of Period	$	124.8		$	70.1		$	4.9		$	14.0		$	39.1		$	252.9
Total Gains (Losses):
Included in Condensed Consolidated Statement of Income	(5.5		)	(5.1		)	—			—			—			(10.6		)
Included in Other Comprehensive Income	8.9			2.6			(1.1		)	3.7			10.5			24.6
Purchases	19.2			0.1			—			0.3			13.3			32.9
Settlements	(9.8		)	—			(0.1		)	(0.8		)	(1.2		)	(11.9		)
Sales	(1.7		)	(67.7		)	(0.1		)	—			—			(69.5		)
Transfers Out of Level 3 to Level 2	—			—			(3.1		)	—			—			(3.1		)
Balance at End of Period	$	135.9		$	—		$	0.5		$	17.2		$	61.7		$	215.3

Information by security type pertaining to the changes in the fair value of the Company’s investments classified as Level 3 for

the three months ended September 30, 2010 is presented below:



	Fixed Maturities									Equity Securities
(Dollars in Millions)	Corporate Bonds and Notes			Redeemable Preferred Stocks			Mortgage and Asset- backed			Preferred and Common Stocks		Other Equity Interests			Total
Balance at Beginning of Period	$	121.6		$	66.8		$	0.5		$	15.4	$	51.5		$	255.8
Total Gains (Losses):
Included in Condensed Consolidated Statement of Income	(1.6		)	(2.7		)	—			—		—			(4.3		)
Included in Other Comprehensive Income	2.1			3.7			—			1.6		6.3			13.7
Purchases	15.0			(0.1		)	—			0.2		4.2			19.3
Settlements	(0.9		)	—			0.1			—		(0.3		)	(1.1		)
Sales	(0.3		)	(67.7		)	(0.1		)	—		—			(68.1		)
Balance at End of Period	$	135.9		$	—		$	0.5		$	17.2	$	61.7		$	215.3

Information by security type pertaining to the changes in the fair value of the Company’s investments classified as Level 3 for the nine months ended September 30, 2011 is presented below:



	Fixed Maturities								Equity Securities
(Dollars in Millions)	Corporate Bonds and Notes			Redeemable Preferred Stocks		Mortgage and Asset- backed			Preferred and Common Stocks			Other Equity Interests			Total
Balance at Beginning of Period	$	146.2		$	4.5	$	0.4		$	14.7		$	75.2		$	241.0
Total Gains (Losses):
Included in Condensed Consolidated Statement of Income	1.0			—		—			4.6			0.3			5.9
Included in Other Comprehensive Income	2.5			—		—			(5.5		)	(16.6		)	(19.6		)
Purchases	76.1			—		—			1.5			23.9			101.5
Settlements	(44.1		)	—		(0.1		)	(0.4		)	(10.6		)	(55.2		)
Sales	(0.5		)	—		—			(5.7		)	—			(6.2		)
Transfers Into Level 3 from Level 2	5.4			—		—			—			—			5.4
Balance at End of Period	$	186.6		$	4.5	$	0.3		$	9.2		$	72.2		$	272.8

Information by security type pertaining to the changes in the fair value of the Company’s investments classified as Level 3 for the three months ended September 30, 2011 is presented below:



	Fixed Maturities								Equity Securities
(Dollars in Millions)	Corporate Bonds and Notes			Redeemable Preferred Stocks			Mortgage and Asset- backed		Preferred and Common Stocks			Other Equity Interests			Total
Balance at Beginning of Period	$	174.8		$	6.4		$	0.3	$	8.5		$	80.1		$	270.1
Total Gains (Losses):
Included in Condensed Consolidated Statement of Income	0.6			—			—		(0.1		)	0.3			0.8
Included in Other Comprehensive Income	1.1			(1.9		)	—		(0.2		)	(13.7		)	(14.7		)
Purchases	20.1			—			—		1.0			8.3			29.4
Settlements	(15.4		)	—			—		—			(2.8		)	(18.2		)
Transfers Into Level 3 from Level 2	5.4			—			—		—			—			5.4
Balance at End of Period	$	186.6		$	4.5		$	0.3	$	9.2		$	72.2		$	272.8

- Definition

This element represents the disclosure related to assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring and/or nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (a),(b)

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19190-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 5

-Subparagraph (a),(b)

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19296-110258

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 33

-Subparagraph a, b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 6

-Footnote 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References+ Details