Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities measured on recurring basis

The following tables present information about our assets and liabilities measured at fair value on a recurring basis at June 30, 2015 and December 31, 2014, and indicate the fair value hierarchy of the valuation techniques utilized by us to determine such fair value (dollars in millions):

	Level 1		Level 2-current		Level 2- noncurrent		Level 3		Total
As of June 30, 2015:
Assets:
Cash and cash equivalents	$	756.8	$	—	$	—	$	—	$	756.8
Investments—available-for-sale
Asset-backed debt securities:
Residential mortgage-backed securities	$	—	$	242.2	$	—	$	—	$	242.2
Commercial mortgage-backed securities	—		215.5		0.4		—		215.9
Other asset-backed securities	—		164.7		—		—		164.7
U.S. government and agencies:
U.S. Treasury securities	28.2		—		—		—		28.2
U.S. Agency securities	—		—		—		—		—
Obligations of states and other political subdivisions	—		980.0		1.5		—		981.5
Corporate debt securities	—		740.9		4.6		—		745.5
Total investments at fair value	$	28.2	$	2,343.3	$	6.5	$	—	$	2,378.0
Embedded contractual derivative	—		—		—		9.5		9.5
Total assets at fair value	$	785.0	$	2,343.3	$	6.5	$	9.5	$	3,144.3

As of June 30, 2015:	Level 3	Total
Liability:
Embedded contractual derivative	9.8	9.8
Total liability at fair value	9.8	9.8

	Level 1		Level 2-current		Level 2- noncurrent		Level 3		Total
As of December 31, 2014:
Assets:
Cash and cash equivalents	$	869.1	$	—	$	—	$	—	$	869.1
Investments—available-for-sale
Asset-backed debt securities:
Residential mortgage-backed securities	$	—	$	210.9	$	—	$	—	$	210.9
Commercial mortgage-backed securities	—		145.6		0.6		—		146.2
Other asset-backed securities	—		81.4		—		—		81.4
U.S. government and agencies:
U.S. Treasury securities	36.5		—		—		—		36.5
U.S. Agency securities	—		—		—		—		—
Obligations of states and other political subdivisions	—		732.2		—		—		732.2
Corporate debt securities	—		584.4		4.0		—		588.4
Total investments at fair value	$	36.5	$	1,754.5	$	4.6	$	—	$	1,795.6
Embedded contractual derivative	—		—		—		10.0		10.0
Total assets at fair value	$	905.6	$	1,754.5	$	4.6	$	10.0	$	2,674.7

As of December 31, 2014:	Level 3		Total
Liability:
Embedded contractual derivative	$	2.6	$	2.6
Total liability at fair value	$	2.6	$	2.6

Changes in the Balances of Level 3 Financial Assets on Recurring Basis

The changes in the balances of Level 3 financial assets for the three months ended June 30, 2015 and 2014 were as follows (dollars in millions):

	Three months ended June 30,
	2015						2014
	Embedded Contractual Derivative		State-Sponsored Health Plans Settlement Account Deficit		Total		Embedded Contractual Derivative		State-Sponsored Health Plans Settlement Account Deficit			Total
Opening balance	$	9.5	$	—	$	9.5	$	11.4	$	50.0		$	61.4
Transfers into Level 3	—		—		—		—		—			—
Transfers out of Level 3	—		—		—		—		—			—
Total gains or losses for the period:
Realized in net income	—		—		—		1.9		(40.4		)	(38.5		)
Unrealized in accumulated other comprehensive income	—		—		—		—		—			—
Purchases, issues, sales and settlements:
Purchases/additions	—		—		—		—		—			—
Issues	—		—		—		—		—			—
Sales	—		—		—		—		—			—
Settlements	—		—		—		—		—			—
Closing balance	$	9.5	$	—	$	9.5	$	13.3	$	9.6		$	22.9
Change in unrealized gains (losses) included in net income for assets held at the end of the reporting period	$	—	$	—	$	—	$	—	$	—		$	—

The changes in the balances of Level 3 financial assets for the six months ended June 30, 2015 and 2014 were as follows (dollars in millions):

	Six months ended June 30,
	2015									2014
		Embedded Contractual Derivative			State-Sponsored Health Plans Settlement Account Deficit		Total			Embedded Contractual Derivative		State-Sponsored Health Plans Settlement Account Deficit			Total
Opening balance		$	10.0		$	—	$	10.0		$	7.2	$	62.9		$	70.1
Transfers into Level 3		—			—		—			—		—			—
Transfers out of Level 3		—			—		—			—		—			—
Total gains or losses for the period:
Realized in net income		(0.5		)	—		(0.5		)	6.1		(53.3		)	(47.2		)
Unrealized in accumulated other comprehensive income		—			—		—			—		—			—
Purchases, issues, sales and settlements:
Purchases/additions		—			—		—			—		—			—
Issues		—			—		—			—		—			—
Sales		—			—		—			—		—			—
Settlements		—			—		—			—		—			—
Closing balance		$	9.5		$	—	$	9.5		$	13.3	$	9.6		$	22.9
Change in unrealized gains (losses) included in net income for assets held at the end of the reporting period		$	—		$	—	$	—		$	—	$	—		$	—

Changes in the Balances of Level 3 Financial Liabilities on Recurring Basis

The changes in the balances of Level 3 financial liability for the three and six months ended June 30, 2015 were as follows (dollars in millions):

	Three months ended June 30, 2015		Six months ended June 30, 2015
	Embedded Contractual Derivative
Opening balance	$	3.3	$	2.6
Transfers into Level 3	—		—
Transfers out of Level 3	—		—
Total gains or losses for the period:
Realized in net income	6.5		7.2
Unrealized in accumulated other comprehensive income	—		—
Purchases, issues, sales and settlements:
Purchases	—		—
Issues	—		—
Sales	—		—
Settlements	—		—
Closing balance	$	9.8	$	9.8

Fair Value of Assets Held-for-Sale

The following table presents information about our assets classified as held for sale as of June 30, 2015 and December 31, 2014, the hierarchy of the valuation techniques utilized by us to determine such fair values and the related impairment loss for the three and six months ended June 30, 2015 and for the year ended December 31, 2014 (dollars in millions):

	Level 3		Total Asset Impairment for the Three Months Ended June 30, 2015		Total Asset Impairment for the Six Months Ended June 30, 2015		Level 3		Total Asset Impairment for the Year Ended December 31, 2014
	As of June 30, 2015						As of December 31, 2014
Property and equipment, net	$	50.0	$	—	$	1.9	$	50.0	$	80.2
Goodwill allocated to sale of business	—		—		—		—		7.0
Assets held for sale	$	50.0	$	—	$	1.9	$	50.0	$	87.2

Fair value inputs, assets and liabilities, Quantitative information [Table Text Block]

The following tables present quantitative information about Level 3 Fair Value Measurements as of June 30, 2015 and December 31, 2014 (dollars in millions):

	Fair Value as of June 30, 2015		Valuation Technique(s)	Unobservable Input	Range (Weighted Average)
Embedded contractual derivative asset	$	9.5	Monte Carlo Simulation Approach	Health Net Health Care Expenditures	1.52	%	—	2.72%	(2.13%)
				National Health Care Expenditures	-0.87	%	—	8.18%	(3.80%)
Embedded contractual derivative liability			Monte Carlo Simulation Approach	Health Net Health Care Expenditures	-2.80	%	—	15.33%	(6.87%)
	$	9.8		National Health Care Expenditures	-0.84	%	—	8.48%	(9.53%)
Goodwill - Western Region reporting unit	$	558.9	Income Approach	Discount Rate	7.5	%	—	7.5%	(7.5%)
Assets held for sale	$	50.0	Income Approach	Discount Rate	12.0	%	—	12.0%	(12.0%)

	Fair Value as of December 31, 2014		Valuation Technique(s)	Unobservable Input	Range (Weighted Average)
Embedded contractual derivative asset	$	10.0	Monte Carlo Simulation Approach	Health Net Health Care Expenditures	-0.08	%	—	2.74%	(2.02%)
				National Health Care Expenditures	3.45	%	—	4.14%	(3.80%)
Embedded contractual derivative liability			Monte Carlo Simulation Approach	Health Net Health Care Expenditures	0.79	%	—	10.76%	(5.73%)
	$	2.6		National Health Care Expenditures	0.64	%	—	8.43%	(4.38%)
Goodwill - Western Region reporting unit	$	558.9	Income Approach	Discount Rate	7.5	%	—	7.5%	(7.5%)
Assets held for sale	$	50.0	Income Approach	Discount Rate	12.0	%	—	12.0%	(12.0%)