XML 122 R15.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Stockholders' Equity and Comprehensive Income | 12 Months Ended
--- | ---
Dec. 31, 2013
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] |
Stockholders' Equity and Comprehensive Income | Stockholders’ Equity and Comprehensive Income
(a) | Stockholders’ Equity
As of December 31, 2013, we had 10.6 million shares reserved for various stock compensation and purchase plans, retirement plans and dividend reinvestment plans. As a convenience to our employees and directors, we repurchase the Parent’s stock from time-to-time as permitted under our stock-based compensation plans. The Parent has not had an authorized stock repurchase program since 2009. The following table provides information regarding the purchase of the Parent’s common stock during the 2011 through 2013 reporting periods:
($ in thousands) |  |  |  |
Period |  | Shares Purchased in Connection with Restricted Stock Vestings and Stock Option Exercises |  | Cost of Shares Purchased in Connection with Restricted Stock Vestings and Stock Option Exercises
2013 |  | 167,846 |  |  | $ | 3,716 |
2012 |  | 194,575 |  |  | 3,495 |
2011 |  | 149,997 |  |  | 2,741 |
Our ability to declare and pay dividends on the Parent's common stock is dependent on liquidity at the Parent coupled with the ability of the Insurance Subsidiaries to declare and pay dividends, if necessary, and/or the availability of other sources of liquidity to the Parent. See Note 20. “Statutory Financial Information, Capital Requirements, and Restrictions on Dividends and Transfers of Funds” for information regarding these dividend restrictions. (b) The components of comprehensive income, both gross and net of tax, for 2013, 2012, and 2011 were as follows:
2013 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 142,267 |  |  | 35,849 |  |  | 106,418 |
Components of OCI: |  |  |  |  |  |  |  |  |
Unrealized losses on investment securities: |  |  |  |  |  |  |  |  |
Unrealized holding losses during the period |  | (83,934 | ) |  | (29,377 | ) |  | (54,557 | )
Non-credit OTTI recognized in OCI |  | 77 |  |  | 27 |  |  | 50 |
Amounts reclassified into net income: |  |  |  |  |  |  |
HTM securities |  | (1,577 | ) |  | (552 | ) |  | (1,025 | )
Non-credit OTTI |  | 14 |  |  | 5 |  |  | 9 |
Realized gains on AFS securities |  | (23,540 | ) |  | (8,239 | ) |  | (15,301 | )
Net unrealized losses |  | (108,960 | ) |  | (38,136 | ) |  | (70,824 | )
Defined benefit pension and post-retirement plans: |  |  |  |  |  |  |  |  |
Net actuarial gain |  | 59,654 |  |  | 20,879 |  |  | 38,775 |
Amounts reclassified into net income: |  |  |  |  |  |  |  |  |
Net actuarial loss |  | 4,374 |  |  | 1,531 |  |  | 2,843 |
Prior service cost |  | 10 |  |  | 4 |  |  | 6 |
Curtailment expense |  | 16 |  |  | 5 |  |  | 11 |
Defined benefit pension and post-retirement plans |  | 64,054 |  |  | 22,419 |  |  | 41,635 |
Other comprehensive loss |  | (44,906 | ) |  | (15,717 | ) |  | (29,189 | )
Comprehensive income |  | $ | 97,361 |  |  | 20,132 |  |  | 77,229 |
2012 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 37,635 |  |  | (328 | ) |  | 37,963 |
Components of OCI: |  |  |  |  |  |  |  |  |
Unrealized gains on investment securities: |  |  |  |  |  |  |  |  |
Unrealized holding gains during the period |  | 47,594 |  |  | 16,657 |  |  | 30,937 |
Non-credit OTTI recognized in OCI |  | 2,554 |  |  | 894 |  |  | 1,660 |
Amounts reclassified into net income: |  |  |  |  |  |  |
HTM securities |  | (2,432 | ) |  | (851 | ) |  | (1,581 | )
Non-credit OTTI |  | 280 |  |  | 98 |  |  | 182 |
Realized gains on AFS securities |  | (9,412 | ) |  | (3,294 | ) |  | (6,118 | )
Net unrealized gains |  | 38,584 |  |  | 13,504 |  |  | 25,080 |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |  |  |  |
Net actuarial loss |  | (26,566 | ) |  | (9,298 | ) |  | (17,268 | )
Amounts reclassified into net income: |  |  |  |  |  |  |  |  |
Net actuarial loss |  | 5,903 |  |  | 2,066 |  |  | 3,837 |
Prior service cost |  | 150 |  |  | 53 |  |  | 97 |
Defined benefit pension and post-retirement plans |  | (20,513 | ) |  | (7,179 | ) |  | (13,334 | )
Other comprehensive income |  | 18,071 |  |  | 6,325 |  |  | 11,746 |
Comprehensive income |  | $ | 55,706 |  |  | 5,997 |  |  | 49,709 |
2011 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 10,400 |  |  | (11,633 | ) |  | 22,033 |
Components of OCI: |  |  |  |  |  |  |  |  |
Unrealized gains on investment securities: |  |  |  |  |  |  |  |  |
Unrealized holding gains during the period |  | 70,140 |  |  | 24,548 |  |  | 45,592 |
Non-credit OTTI recognized in OCI |  | 1,188 |  |  | 416 |  |  | 772 |
Amounts reclassified into net income: |  |  |  |  |  |  |
HTM securities |  | (2,283 | ) |  | (799 | ) |  | (1,484 | )
Non-credit OTTI |  | 494 |  |  | 173 |  |  | 321 |
Realized gains on AFS securities |  | (2,801 | ) |  | (980 | ) |  | (1,821 | )
Net unrealized gains |  | 66,738 |  |  | 23,358 |  |  | 43,380 |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |  |  |  |
Net actuarial loss |  | (16,799 | ) |  | (5,880 | ) |  | (10,919 | )
Amounts reclassified into net income: |  |  |  |  |  |  |  |  |
Net actuarial loss |  | 4,172 |  |  | 1,460 |  |  | 2,712 |
Prior service cost |  | 150 |  |  | 53 |  |  | 97 |
Defined benefit pension and post-retirement plans |  | (12,477 | ) |  | (4,367 | ) |  | (8,110 | )
Other comprehensive income |  | 54,261 |  |  | 18,991 |  |  | 35,270 |
Comprehensive income |  | $ | 64,661 |  |  | 7,358 |  |  | 57,303 |
(c) The balances of, and changes in, each component of AOCI (net of taxes) as of December 31, 2013 and 2012 were as follows:
|  | Net Unrealized (Loss) Gain |  |  |  |  |  |
($ in thousands) |  | OTTI Related |  | HTM Related |  | All Other |  | Investments Subtotal |  | Defined Benefit Pension and Post- retirement Plans |  | Total AOCI
Balance, December 31, 2011 |  | $ | (3,500 | ) |  | 4,622 |  |  | 96,125 |  |  | 97,247 |  |  | (54,953 | ) |  | 42,294 |
OCI before reclassifications |  | 1,660 |  |  | (447 | ) |  | 31,384 |  |  | 32,597 |  |  | (17,268 | ) |  | 15,329 |
Amounts reclassified from AOCI |  | 182 |  |  | (1,581 | ) |  | (6,118 | ) |  | (7,517 | ) |  | 3,934 |  |  | (3,583 | )
Net current period OCI |  | 1,842 |  |  | (2,028 | ) |  | 25,266 |  |  | 25,080 |  |  | (13,334 | ) |  | 11,746 |
Balance, December 31, 2012 |  | (1,658 | ) |  | 2,594 |  |  | 121,391 |  |  | 122,327 |  |  | (68,287 | ) |  | 54,040 |
OCI before reclassifications |  | 50 |  |  | (102 | ) |  | (54,455 | ) |  | (54,507 | ) |  | 38,775 |  |  | (15,732 | )
Amounts reclassified from AOCI |  | 9 |  |  | (1,025 | ) |  | (15,301 | ) |  | (16,317 | ) |  | 2,860 |  |  | (13,457 | )
Net current period OCI |  | 59 |  |  | (1,127 | ) |  | (69,756 | ) |  | (70,824 | ) |  | 41,635 |  |  | (29,189 | )
Balance, December 31, 2013 |  | $ | (1,599 | ) |  | 1,467 |  |  | 51,635 |  |  | 51,503 |  |  | (26,652 | ) |  | 24,851 |
The reclassifications out of AOCI for 2013 are as follows:
|  |  | Affected Line Item in the Consolidated Statement of Income
($ in thousands) | Year ended December 31, 2013 |
OTTI related |  |  |
Amortization of non-credit OTTI losses on HTM securities | 14 |  |  | Net investment income earned
| 14 |  |  | Income from continuing operations, before federal income tax
| (5 | ) |  | Total federal income tax expense (benefit)
| 9 |  |  | Net income
HTM related |  |  |
Unrealized gains and losses on HTM disposals | 390 |  |  | Net realized investment gains
Amortization of net unrealized gains on HTM securities | (1,967 | ) |  | Net investment income earned
| (1,577 | ) |  | Income from continuing operations, before federal income tax
| 552 |  |  | Total federal income tax expense (benefit)
| (1,025 | ) |  | Net income
Realized gains and losses on AFS |  |  |
Realized gains and losses on AFS disposals | (23,540 | ) |  | Net realized investment gains
| (23,540 | ) |  | Income from continuing operations, before federal income tax
| 8,239 |  |  | Total federal income tax expense (benefit)
| (15,301 | ) |  | Net income
Defined benefit pension and post-retirement life plans |  |  |
Net actuarial loss | 909 |  |  | Losses and loss expenses incurred
| 3,465 |  |  | Policy acquisition costs
| 4,374 |  |  | Income from continuing operations, before federal income tax
Prior service cost | 7 |  |  | Losses and loss expenses incurred
| 3 |  |  | Policy acquisition costs
| 10 |  |  | Income from continuing operations, before federal income tax
Curtailment expense | 16 |  |  | Policy acquisition costs
| 16 |  |  | Income from continuing operations, before federal income tax
Total defined benefit pension and post-retirement life | 4,400 |  |  | Income from continuing operations, before federal income tax
| (1,540 | ) |  | Total federal income tax expense (benefit)
| 2,860 |  |  | Net income
Total reclassifications for the period | $ | (13,457 | ) |  | Net income

X
- Details
Name: | us-gaap_ComprehensiveIncomeNetOfTaxAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 9: 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.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph d -Article 4 Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration