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Income Tax (Tables) | 12 Months Ended
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Dec. 31, 2014
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | Total income tax expense (benefit) is allocated as follows:
| Year Ended December 31
| 2014 |  | 2013 |  | 2012
| (in millions of dollars)
Net Income | $ | 113.8 |  |  | $ | 347.1 |  |  | $ | 355.1 |
Stockholders' Equity - Additional Paid-in Capital |  |  |  |  |
Stock-Based Compensation | (3.0 | ) |  | (0.8 | ) |  | 3.5 |
Stockholders' Equity - Accumulated Other Comprehensive Income (Loss) |  |  |  |  |
Change in Net Unrealized Gain on Securities Before Adjustment | 725.8 |  |  | (1,102.8 | ) |  | 467.7 |
Change in Adjustment to Deferred Acquisition Costs and Reserves for Future Policy and Contract Benefits, Net of Reinsurance | (665.1 | ) |  | 743.3 |  |  | (325.6 | )
Change in Net Gain on Cash Flow Hedges | (2.0 | ) |  | (1.3 | ) |  | (4.3 | )
Change in Unrecognized Pension and Postretirement Benefit Costs | (92.4 | ) |  | 185.2 |  |  | (68.0 | )
Total | $ | 77.1 |  |  | $ | 170.7 |  |  | $ | 428.4 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the income tax expense (benefit) attributable to income from operations before income tax, computed at U.S. federal statutory tax rates, to the income tax expense (benefit) as included in our consolidated statements of income, is as follows. Certain prior year amounts have been reclassified to conform to current year reporting.
| Year Ended December 31
| 2014 |  | 2013 |  | 2012
Statutory Income Tax | 35.0 | % |  | 35.0 | % |  | 35.0 | %
Foreign Items | (4.3 | ) |  | (1.8 | ) |  | (1.9 | )
Tax Credits | (8.1 | ) |  | (3.4 | ) |  | (2.7 | )
Tax-exempt Investment Income | (2.3 | ) |  | (1.0 | ) |  | (0.9 | )
Other Items, Net | 1.3 |  |  | — |  |  | (1.1 | )
Effective Tax | 21.6 | % |  | 28.8 | % |  | 28.4 | %
Schedule of Deferred Tax Assets and Liabilities | Our net deferred tax liability consists of the following:
| December 31
| 2014 |  | 2013
| (in millions of dollars)
Deferred Tax Liability |  |  |
Deferred Acquisition Costs | $ | 97.4 |  |  | $ | 70.0 |
Fixed Assets | 93.0 |  |  | 80.3 |
Invested Assets | 1,999.2 |  |  | 1,274.3 |
Other | 64.6 |  |  | 54.4 |
Gross Deferred Tax Liability | 2,254.2 |  |  | 1,479.0 |
Deferred Tax Asset |  |  |
Reserves | 1,919.2 |  |  | 1,180.1 |
Employee Benefits | 254.0 |  |  | 151.2 |
Other | 2.6 |  |  | 3.4 |
Gross Deferred Tax Asset | 2,175.8 |  |  | 1,334.7 |
Total Net Deferred Tax Liability | $ | 78.4 |  |  | $ | 144.3 |
Schedule of Income before Income Tax, Domestic and Foreign | Our consolidated statements of income include amounts subject to both domestic and foreign taxation. The income and related tax expense (benefit) are as follows:
| Year Ended December 31
| 2014 |  | 2013 |  | 2012
| (in millions of dollars)
Income Before Tax |  |  |  |  |
United States - Federal | $ | 376.9 |  |  | $ | 1,072.0 |  |  | $ | 1,128.4 |
Foreign | 150.3 |  |  | 133.2 |  |  | 121.1 |
Total | $ | 527.2 |  |  | $ | 1,205.2 |  |  | $ | 1,249.5 |
Current Tax Expense (Benefit) |  |  |  |  |
United States - Federal | $ | 128.4 |  |  | $ | 277.9 |  |  | $ | 164.4 |
Foreign | (25.1 | ) |  | 18.7 |  |  | 42.2 |
Total | 103.3 |  |  | 296.6 |  |  | 206.6 |
Deferred Tax Expense (Benefit) |  |  |  |  |
United States - Federal | (44.4 | ) |  | 47.3 |  |  | 173.5 |
Foreign | 54.9 |  |  | 3.2 |  |  | (25.0 | )
Total | 10.5 |  |  | 50.5 |  |  | 148.5 |
Total | $ | 113.8 |  |  | $ | 347.1 |  |  | $ | 355.1 |
Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible | Our consolidated statements of income include the following changes in unrecognized tax benefits:
| December 31
| 2014 |  | 2013 |  | 2012
| (in millions of dollars)
Balance at Beginning of Year | $ | 18.4 |  |  | $ | 17.5 |  |  | $ | 86.9 |
Tax Positions Taken During Prior Years |  |  |  |  |
Additions | 1.7 |  |  | 5.7 |  |  | 13.3 |
Subtractions | — |  |  | — |  |  | (0.6 | )
Settlements with Tax Authorities | (0.6 | ) |  | (4.8 | ) |  | (23.5 | )
Lapses of Statute of Limitations | — |  |  | — |  |  | (61.1 | )
Tax Positions Taken During Current Year | 0.3 |  |  | — |  |  | 2.5 |
Balance at End of Year | 19.8 |  |  | 18.4 |  |  | 17.5 |
Less Tax Attributable to Temporary Items Included Above | (10.4 | ) |  | (10.2 | ) |  | (15.0 | )
Total Unrecognized Tax Benefits that if Recognized Would Affect the Effective Tax Rate | $ | 9.4 |  |  | $ | 8.2 |  |  | $ | 2.5 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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- Definition Tabular disclosure of unrecognized tax benefits for which a material change is reasonably possible in the next twelve months, typically including the nature of the uncertainty, the event(s) that could cause a material change, and an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made. An unrecognized tax benefit is the difference between a tax position taken in a tax return and the amounts recognized in the financial statements for which it is more likely than not, based on the technical merits of the position, that the tax position will not be sustained upon examination. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 + Details
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