Acquisition of Business (Tables)

9 Months Ended

Sep. 30, 2018

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

(Dollars in Millions)
Investments	$	1,569.3
Short Term Investments	98.8
Cash	4.0
Receivables from Policyholders	582.3
Other Receivables	31.9
Value of Intangible Assets Acquired (Reported in Other Assets)	262.7
Goodwill	768.2
Other Assets	102.1
Property and Casualty Insurance Reserves	(701.4		)
Unearned Premiums	(714.6		)
Debt	(282.1		)
Current Income Tax Liabilities	(1.8		)
Deferred Income Tax Liabilities	(12.2		)
Accrued Expenses and Other Liabilities	(158.5		)
Total Purchase Price	1,548.7

Business Acquisition, Pro Forma Information

The following unaudited pro forma information presents the Company’s results of operations as if the acquisition of Infinity occurred on January 1, 2017. The adjustments to arrive at the pro forma information below included adjustments for the lost investment income on the cash used to fund the acquisition, amortization of the fair value adjustment on Infinity investments, amortization of the acquired intangible assets, interest expense on debt incurred to finance the acquisition and the exclusion of

Note 2 - Acquisition of Business (continued)

certain acquisition related costs considered to be non-recurring in nature. Shares used to calculate the basic and diluted earnings per share were adjusted to reflect the additional shares of common stock issued to fund the acquisition.

	Nine Months Ended				Three Months Ended
(Dollars in millions, except per share amounts)	Sep 30, 2018		Sep 30, 2017		Sep 30, 2018		Sep 30, 2017
Total Revenues	$	3,375.2	$	3,080.3	$	1,194.9	$	1,044.4
Total Expenses	3,065.7		2,995.8		1,044.4		966.6
Income from Continuing Operations before Income Taxes	309.5		84.5		150.5		77.8
Net Income	$	275.5	$	54.8	$	147.5	$	53.0
Net Income Per Unrestricted Share:
Basic	$	4.26	$	0.85	$	2.28	$	0.82
Diluted	$	4.23	$	0.85	$	2.26	$	0.82