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Federal Income Taxes | 12 Months Ended
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Dec. 31, 2011
Federal Income Taxes [Abstract] |
Federal Income Taxes | Note 15. Federal Income Taxes (a) A reconciliation of federal income tax on income at the corporate rate to the effective tax rate is as follows:
($ in thousands) |  | 2011 |  | 2010 |  | 2009
Tax at statutory rate of 35% | $ | 2,823 |  | 28,685 |  | 13,715
Tax-advantaged interest |  | (14,381) |  | (15,992) |  | (18,205)
Dividends received deduction |  | (870) |  | (357) |  | (513)
Nonqualified deferred compensation |  | 7 |  | (273) |  | (721)
Other |  | (29) |  | 572 |  | 252
Federal income tax (benefit) expense from continuing operations | $ | (12,450) |  | 12,635 |  | (5,472)
(b) The tax effects of the significant temporary differences that give rise to deferred tax assets and liabilities are as follows:
($ in thousands) |  | 2011 |  | 2010
Deferred tax assets: |  |  |  |
Net loss reserve discounting | $ | 99,768 |  | 98,014
Net unearned premiums |  | 53,191 |  | 49,955
Employee benefits |  | 33,100 |  | 27,079
Long-term incentive compensation plans |  | 8,471 |  | 9,209
Temporary investment write-downs |  | 13,251 |  | 9,340
Net operating loss |  | 4,791 |  | -
Tax credits |  | 10,938 |  | 5,138
Other |  | 7,638 |  | 6,109
Total deferred tax assets |  | 231,148 |  | 204,844
Deferred tax liabilities: |  |  |  |
Deferred policy acquisition costs |  | 74,137 |  | 72,840
Unrealized gains on investment securities |  | 53,996 |  | 30,522
Other investment-related items, net |  | 4,034 |  | 2,080
Accelerated depreciation and amortization |  | 6,295 |  | 6,168
Total deferred tax liabilities |  | 138,462 |  | 111,610
Net deferred federal income tax asset | $ | 92,686 |  | 93,234
After considering all evidence, both positive and negative, with respect to our federal tax loss carryback availability, expected levels of pre-tax financial statement income, and federal taxable income, we believe it is more likely than not that the existing deductible temporary differences will reverse during periods in which we generate net federal taxable income or have adequate federal carryback availability. As a result, we have no valuation allowance recognized for federal deferred tax assets at December 31, 2011 and 2010. The carry forward availability of our net operating loss will begin to expire in 2027 with the remainder expiring through 2031. Our alternative minimum tax credits, which are available to offset future regular taxable income, can be carried forward for an unlimited period of time. Stockholders' equity reflects tax benefits related to compensation expense deductions for share-based compensation awards of $16.6 million at December 31, 2011, $16.7 million at December 31, 2010, and $17.4 million at December 31, 2009. We have analyzed our tax positions in all open tax years, which as of December 31, 2011 were 2007 through 2010. The Internal Revenue Service ("IRS") is currently conducting a limited scope examination of these open tax years. Based on our analysis, we do not have unrecognized tax expense or benefits as of December 31, 2011. In addition, we believe our tax positions will more likely than not be sustained upon examination, including related appeals or litigation. In the event we had a tax position that did not meet the more likely than not criteria, any tax, interest, and penalties incurred related to such a position would be reflected in "Total federal income tax expense (benefit)" on our Consolidated Statements of Income.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + 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 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 Reference 6: 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 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 8: 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)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 + Details
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