Discontinued Operations

12 Months Ended

Dec. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

NOTE 18. DISCONTINUED OPERATIONS

The Company accounts for its former consumer finance business and its former Unitrin Business Insurance operations as discontinued operations.

Summary financial information included in Income from Discontinued Operations for the years endedDecember 31, 2014, 2013 and 2012 is presented below.

DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS	2014			2013			2012
Income (Loss) from Discontinued Operations before Income Taxes:
Results of Operations	$	—		$	—		$	(0.2	)
Gain on Sale of Loan Portfolio	—			—			12.9
Change in Estimate of Retained Liabilities Arising from Discontinued Operations	3.0			4.9			6.2
Income from Discontinued Operations before Income Taxes	3.0			4.9			18.9
Income Tax Expense	(1.1		)	(1.7		)	(7.3		)
Income from Discontinued Operations	$	1.9		$	3.2		$	11.6
Income from Discontinued Operations Per Unrestricted Share:
Basic	$	0.04		$	0.06		$	0.20
Diluted	$	0.04		$	0.06		$	0.20

In 2012 the Company’s former consumer finance business sold its inactive loan portfolio at a gain of $12.9 million, net of transaction, shutdown and other costs.

In 2008, the Company sold its Unitrin Business Insurance operations. The Company retained Property and Casualty Insurance Reserves for unpaid insured losses that occurred prior to the date of the sale. Property and Casualty Insurance Reserves reported in the Company’s Consolidated Balance Sheets include $69.3 million and $82.0 million at December 31, 2014 and 2013, respectively, for the retained liabilities. In accordance with GAAP, changes in the Company’s estimate of such retained liabilities after the sale are reported as a separate component of the results of discontinued operations. See Note 5, “Property and Casualty Insurance Reserves,” to the Consolidated Financial Statements.