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Pension Benefits (Tables) (Pension Plans, Defined Benefit [Member])

12 Months Ended

Dec. 31, 2013

Defined Benefit Plan Disclosure [Line Items]

Schedule of Changes in Fair Value of Plan Assets

Changes in Fair Value of Plan Assets and Changes in Projected Benefit Obligation for the years ended December 31, 2013 and 2012 were:



DOLLARS IN MILLIONS
DOLLARS IN MILLIONS	2013			2012
Fair Value of Plan Assets at Beginning of Year	$	457.6		$	441.3
Actual Return on Plan Assets	34.5			38.0
Employer Contributions	55.0			—
Benefits Paid	(22.6		)	(21.5		)
Settlement Benefits	—			(0.2		)
Fair Value of Plan Assets at End of Year	524.5			457.6
Projected Benefit Obligation at Beginning of Year	553.9			499.2
Service Cost	10.8			10.8
Interest Cost	22.4			22.4
Benefits Paid	(22.6		)	(21.5		)
Settlement Benefits	—			(0.2		)
Actuarial Losses (Gains)	(49.0		)	43.2
Projected Benefit Obligation at End of Year	515.5			553.9
Funded Status—Plan Assets in Excess (Deficit) of Projected Benefit Obligation	$	9.0		$	(96.3	)
Amount Recognized in Accumulated Other Comprehensive Income:
Accumulated Actuarial Loss	$	(86.3	)	$	(166.4	)
Prior Service Cost	—			0.1
Amount Recognized in Accumulated Other Comprehensive Income	$	(86.3	)	$	(166.3	)

Accumulated Benefit Obligation	$	496.2		$	531.3

Schedule of Assumptions Used

The weighted-average discount rate and rate of increase in future compensation levels used to estimate the components of the Projected Benefit Obligation at December 31, 2013 and 2012 were:

used to develop the components of the Pension Expense for the years ended December 31, 2013, 2012 and 2011 were:



	2013		2012		2011
Discount Rate	4.05	%	4.60	%	5.35	%
Rate of Increase in Future Compensation Levels	3.08		3.27		2.47
Expected Long Term Rate of Return on Plan Assets	7.00		7.00		7.00

Schedule of Allocation of Plan Assets

Weighted-average asset allocations at December 31, 2013 and 2012 by asset category were:



ASSET CATEGORY	2013		2012
Cash and Short-term Investments	8	%	12	%
Corporate Bonds and Notes	27		33
Common and Preferred Stocks	34		31
Exchange Traded Funds	22		17
Other Assets	9		7
Total	100	%	100	%

Fair Value, Measurement Inputs, Disclosure

Fair value measurements for the Pension Plan’s assets at December 31, 2013 are summarized below:



DOLLARS IN MILLIONS	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
Fixed Maturities:
U.S. Government and Government Agencies and Authorities	$	12.1	$	—	$	—	$	12.1
States and Political Subdivisions	—		3.1		—		3.1
Corporate Bonds and Notes	—		127.0		—		127.0
Equity Securities:
Preferred Stocks:
Finance, Insurance and Real Estate	—		4.0		—		4.0
Common Stocks:
Manufacturing	97.5		7.8		—		105.3
Other Industries	67.2		1.8		—		69.0
Other Equity Interests:
Exchange Traded Funds	111.7		—		—		111.7
Limited Liability Companies and Limited Partnerships	—		—		46.9		46.9
Short-term Investments	42.6		—		—		42.6
Receivables and Other	2.3		—		0.5		2.8
Total	$	333.4	$	143.7	$	47.4	$	524.5

Fair value measurements for the Pension Plan’s assets at December 31, 2012 are summarized below:



DOLLARS IN MILLIONS	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
Fixed Maturities:
U.S. Government and Government Agencies and Authorities	$	6.1	$	—	$	—	$	6.1
States and Political Subdivisions	—		3.3		—		3.3
Corporate Bonds and Notes	—		142.7		—		142.7
Equity Securities:
Preferred Stocks:
Finance, Insurance and Real Estate	—		3.4		—		3.4
Common Stocks:
Manufacturing	82.2		5.6		—		87.8
Other Industries	48.2		0.7		—		48.9
Other Equity Interests:
Exchange Traded Funds	79.6		—		—		79.6
Limited Liability Companies and Limited Partnerships	—		—		26.9		26.9
Short-term Investments	55.8		—		—		55.8
Receivables and Other	2.5		—		0.6		3.1
Total	$	274.4	$	155.7	$	27.5	$	457.6

Schedule of Expected Benefit Payments

The following benefit payments (net of participant contributions), which consider expected future service, as appropriate, are expected to be paid:



DOLLARS IN MILLIONS	Years Ending December 31,
DOLLARS IN MILLIONS	2014		2015		2016		2017		2018		2019-2023
Pension Benefits	$	24.4	$	25.4	$	26.7	$	27.9	$	29.1	$	163.4

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)

The components of Comprehensive Pension (Income) Expense for the years ended December 31, 2013, 2012 and 2011 were:



DOLLARS IN MILLIONS	2013			2012			2011
Service Cost Earned During the Year	$	10.8		$	10.8		$	10.2
Interest Cost on Projected Benefit Obligation	22.4			22.4			22.9
Expected Return on Plan Assets	(29.7		)	(29.8		)	(24.4		)
Amortization of Actuarial Loss	26.2			18.8			9.4
Settlements	—			0.3			—
Pension Expense Recognized in Consolidated Statements of Income	29.7			22.5			18.1
Unrecognized Pension (Gain) Loss Arising During the Year	(53.8		)	34.8			52.4
Amortization of Accumulated Unrecognized Pension Loss	(26.2		)	(18.8		)	(9.4		)
Comprehensive Pension (Income) Expense	$	(50.3	)	$	38.5		$	61.1

Fair Value, Inputs, Level 3 [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Changes in Fair Value of Plan Assets

Additional information pertaining to the changes in the fair value of the Pension Plan’s assets classified as Level 3 for the year ended December 31, 2013 is presented below:



DOLLARS IN MILLIONS	Other Equity Interests		Receivables and Other			Total
Balance at Beginning of Year	$	26.9	$	0.6		$	27.5
Return on Plan Assets Held	3.5		—			3.5
Purchases, Sales and Settlements, Net	16.5		(0.1		)	16.4
Balance at December 31, 2013	$	46.9	$	0.5		$	47.4

Additional information pertaining to the changes in the fair value of the Pension Plan’s assets classified as Level 3 for the year ended December 31, 2012 is presented below:



DOLLARS IN MILLIONS	Corporate Bonds			Other Equity Interests			Receivables and Other			Total
Balance at Beginning of Year	$	1.0		$	37.2		$	3.2		$	41.4
Return on Plan Assets Held	—			1.7			0.1			1.8
Purchases, Sales and Settlements, Net	—			(12.0		)	(2.7		)	(14.7		)
Transfers out of Level 3	(1.0		)	—			—			(1.0		)
Balance at December 31, 2012	$	—		$	26.9		$	0.6		$	27.5

Discount Rate

Rate of Increase in Future Compensation Levels