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Discontinued Operations
 12 Months Ended
Dec. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
NOTE 19. DISCONTINUED OPERATIONS
The Company accounts for its former Unitrin Business Insurance operations as discontinued operations.
Summary financial information included in Income from Discontinued Operations for the years ended December 31, 2015, 2014 and 2013 is presented below.
DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS
 
2015
 
2014
 
2013
Income from Discontinued Operations before Income Taxes:
 
 
 
 
 
 
Change in Estimate of Retained Liabilities Arising from Discontinued Operations
 
8.6

 
3.0

 
4.9

Income Tax Expense
 
(3.1
)
 
(1.1
)
 
(1.7
)
Income from Discontinued Operations
 
$
5.5

 
$
1.9

 
$
3.2

 
 
 
 
 
 
 
Income from Discontinued Operations Per Unrestricted Share:
 
 
 
 
 
 
Basic
 
$
0.10

 
$
0.04

 
$
0.06

Diluted
 
$
0.10

 
$
0.04

 
$
0.06


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 $50.3 million and $69.3 million at December 31, 2015 and 2014, 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 6, “Property and Casualty Insurance Reserves,” to the Consolidated Financial Statements.