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Discontinued Operations | 3 Months Ended
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Mar. 31, 2012
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | Note 2 - Discontinued Operations The Company accounts for Fireside and the Company’s former Unitrin Business Insurance operations as discontinued operations. Summary financial information included in Income from Discontinued Operations for the three months ended March 31, 2012 and 2011 is presented below:
|  | Three Months Ended
(Dollars in Millions, Except Per Share Amounts) |  | Mar 31, 2012 |  | Mar 31, 2011
Interest, Loan Fees and Earned Discounts |  | $ | — |  |  | $ | 15.4 |
Other Income |  | — |  |  | 0.1 |
Net Gain on Sale of Loans in Inactive Portfolio |  | 11.3 |  |  | — |
Net Investment Income |  | — |  |  | 0.4 |
Net Realized Gains on Sales of Investments |  | — |  |  | 0.3 |
Total Revenues Included in Discontinued Operations |  | $ | 11.3 |  |  | $ | 16.2 |
Income (Loss) from Discontinued Operations before Income Taxes: |  |  |  |
Fireside: |  |  |  |
Results of Operations |  | $ | (0.2 | ) |  | $ | 12.0 |
Net Gain on Sale of Loans in Inactive Portfolio |  | 11.3 |  |  | — |
Unitrin Business Insurance: |  |  |  |
Change in Estimate of Retained Liabilities Arising from Discontinued Operations |  | 1.2 |  |  | (2.6 | )
Income from Discontinued Operations before Income Taxes |  | 12.3 |  |  | 9.4 |
Income Tax Expense |  | (5.0 | ) |  | (2.9 | )
Income from Discontinued Operations |  | $ | 7.3 |  |  | $ | 6.5 |
Income from Discontinued Operations Per Unrestricted Share: |  |  |  |
Basic |  | $ | 0.12 |  |  | $ | 0.11 |
Diluted |  | $ | 0.12 |  |  | $ | 0.11 |
During 2011, Fireside sold its active portfolio of automobile loan receivables while retaining its inactive portfolio of loans that had been previously charged-off (the “Inactive Portfolio”). The Inactive Portfolio is not carried on the Company’s Condensed Consolidated Balance Sheet. During the first quarter of 2012, Fireside sold $283 million of loans in the Inactive Portfolio at a gain of $11.3 million, net of transaction, shutdown and other costs of $14.9 million, of which $8.7 million was unpaid at March 31, 2012. Note 2 - Discontinued Operations (continued) The Company has retained Property and Casualty Insurance Reserves for unpaid insured losses of its former Unitrin Business Insurance operations that occurred prior to June 1, 2008, the effective date of the sale of such operations. Property and Casualty Insurance Reserves reported in the Company’s Condensed Consolidated Balance Sheets include $117.3 million and $125.6 million at March 31, 2012 and December 31, 2011, respectively, for such retained liabilities. Changes in the Company’s estimate of such retained liabilities after the sale are reported as a separate component of the results of discontinued operations.

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- Definition The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6390789&loc=d3e2443-110228 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 144 -Paragraph 43-48 -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 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759 + Details
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