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Restricted Securities Available For Sale | 3 Months Ended
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Mar. 31, 2014
Restricted Securities Available For Sale [Abstract] |
Restricted Securities Available For Sale | 4. RESTRICTED SECURITIES AVAILABLE FOR SALE Restricted securities available for sale consist of amounts held in trusts related to VSC Re. We determine the appropriate classification of our investments in debt securities at the time of purchase and reevaluate such determinations at each balance sheet date. Debt securities for which we do not have the intent or ability to hold to maturity are classified as available for sale, and stated at fair value with unrealized gains and losses, net of income taxes included in the determination of comprehensive income and reported as a component of shareholders’ equity. Restricted securities available for sale consist ed of the following:
(In millions) | As of March 31, 2014
| Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Commercial paper | $ | 24.1 |  | $ | – |  | $ | – |  | $ | 24.1
US Government and agency securities |  | 19.9 |  |  | – |  |  | (0.1) |  |  | 19.8
Certificates of deposit |  | 5.1 |  |  | – |  |  | – |  |  | 5.1
Corporate bonds |  | 3.4 |  |  | – |  |  | (0.1) |  |  | 3.3
Total restricted securities available for sale |  | 52.5 |  |  | – |  |  | (0.2) |  |  | 52.3
(In millions) | As of December 31, 2013
| Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Commercial paper | $ | 23.9 |  | $ | – |  | $ | – |  | $ | 23.9
US Government and agency securities |  | 22.3 |  |  | – |  |  | (0.2) |  |  | 22.1
Certificates of deposit |  | 4.6 |  |  | – |  |  | – |  |  | 4.6
Corporate bonds |  | 3.1 |  |  | – |  |  | (0.1) |  |  | 3.0
Total restricted securities available for sale |  | 53.9 |  |  | – |  |  | (0.3) |  |  | 53.6
The fair value and gross unrealized losses for restricted securities available for sale, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows:
(In millions) | Securities Available for Sale with Gross Unrealized Losses as of March 31, 2014
| Less than 12 Months |  | 12 Months or More |  |
| Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Total Estimated Fair Value |  | Total Gross Unrealized Losses
Commercial paper | $ | 6.9 |  | $ | – |  | $ | – |  | $ | – |  | $ | 6.9 |  | $ | -
US Government and agency securities |  | 5.8 |  |  | (0.1) |  |  | 1.1 |  |  | – |  |  | 6.9 |  |  | (0.1)
Certificates of deposit |  | 1.0 |  |  | – |  |  | – |  |  | – |  |  | 1.0 |  |  | –
Corporate bonds |  | 1.3 |  |  | - |  |  | 0.9 |  |  | (0.1 | ) |  | 2.2 |  |  | (0.1)
Total restricted securities available for sale |  | 15.0 |  |  | (0.1) |  |  | 2.0 |  |  | (0.1 | ) |  | 17.0 |  |  | (0.2)
(In millions) | Securities Available for Sale with Gross Unrealized Losses as of December 31, 2013
| Less than 12 Months |  | 12 Months or More |  |
| Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Total Estimated Fair Value |  | Total Gross Unrealized Losses
Commercial paper | $ | 10.0 |  | $ | – |  | $ | – |  | $ | – |  | $ | 10.0 |  | $ | –
US Government and agency securities |  | 11.8 |  |  | (0.2) |  |  | – |  |  | – |  |  | 11.8 |  |  | (0.2)
Certificates of deposit |  | 1.9 |  |  | – |  |  | – |  |  | – |  |  | 1.9 |  |  | –
Corporate bonds |  | 2.3 |  |  | (0.1) |  |  | – |  |  | – |  |  | 2.3 |  |  | (0.1)
Total restricted securities available for sale |  | 26.0 |  |  | (0.3) |  |  | – |  |  | – |  |  | 26.0 |  |  | (0.3)
The cost and estimated fair values of debt securities by contractual maturity were as follows (securities with multiple maturity dates are classified in the period of final maturity). Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
(In millions) | As of
| March 31, 2014 |  | December 31, 2013
| Cost |  | Estimated Fair Value |  | Cost |  | Estimated Fair Value
Contractual Maturity |  |  |  |  |  |  |  |  |  |  |
Within one year | $ | 39.0 |  | $ | 39.0 |  | $ | 41.6 |  | $ | 41.6
Over one year to five years |  | 8.7 |  |  | 8.6 |  |  | 7.8 |  |  | 7.8
Over five years to ten years |  | 4.6 |  |  | 4.5 |  |  | 4.5 |  |  | 4.2
Over ten years |  | 0.2 |  |  | 0.2 |  |  | – |  |  | –
Total restricted securities available for sale | $ | 52.5 |  | $ | 52.3 |  | $ | 53.9 |  | $ | 53.6

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