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Business Segments | 12 Months Ended
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Dec. 31, 2017
Segment Reporting [Abstract] |
Business Segments | NOTE 18. BUSINESS SEGMENTS The Company is engaged, through its subsidiaries, in the property and casualty insurance and life and health insurance businesses. The Company conducts its operations through two operating segments: Property & Casualty Insurance and Life & Health Insurance. The Property & Casualty Insurance segment’s principal products are personal automobile insurance, both preferred and nonstandard, homeowners insurance, other personal insurance and commercial automobile insurance. These products are distributed primarily through independent agents and brokers. The Life & Health Insurance segment’s principal products are individual life, accident, health and property insurance. These products are distributed by career agents employed by the Company and independent agents and brokers. The Company’s earned premiums are derived in the United States. The accounting policies of the segments are the same as those described in Note 2, “Summary of Accounting Policies and Accounting Changes,” to the Consolidated Financial Statements. Capital expenditures for long-lived assets by operating segment are immaterial. It is the Company’s management practice to allocate certain corporate expenses, primarily compensation costs for corporate employees and related facility costs, included in Interest and Other Expenses in the Consolidated Statements of Income to its insurance operations. The amount of such allocated corporate expenses was $50.8 million, $52.9 million and $43.4 million for the years ended December 31, 2017, 2016 and 2015, respectively. The Company does not allocate Net Realized Gains on Sales of Investments, Net Impairment Losses Recognized in Earnings, interest expense on debt or postretirement benefit plans, and actuarial gains and losses on its postretirement benefit plans to its operating segments. Additionally, in 2017 the Company did not allocate the impact of the Tax Act to its operating segments. Segment Assets at December 31, 2017 and 2016 were:
DOLLARS IN MILLIONS |  | 2017 |  | 2016
Property & Casualty Insurance |  | $ | 2,894.9 |  |  | $ | 2,815.1 |
Life & Health Insurance |  | 5,079.3 |  |  | 4,888.7 |
Corporate and Other, Net |  | 402.0 |  |  | 506.7 |
Total Assets |  | $ | 8,376.2 |  |  | $ | 8,210.5 |
Earned Premiums by product line for the years ended December 31, 2017, 2016 and 2015 were:
DOLLARS IN MILLIONS |  | 2017 |  | 2016 |  | 2015
Personal Automobile |  | $ | 1,377.1 |  |  | $ | 1,244.6 |  |  | $ | 1,027.7 |
Homeowners |  | 264.8 |  |  | 271.9 |  |  | 286.3 |
Other Personal Property and Casualty Insurance |  | 115.3 |  |  | 119.2 |  |  | 122.1 |
Commercial Automobile |  | 51.4 |  |  | 53.3 |  |  | 54.5 |
Life |  | 379.7 |  |  | 381.6 |  |  | 374.1 |
Accident and Health |  | 161.7 |  |  | 149.4 |  |  | 144.9 |
Total Earned Premiums |  | $ | 2,350.0 |  |  | $ | 2,220.0 |  |  | $ | 2,009.6 |
NOTE 18. BUSINESS SEGMENTS (Continued) Segment Revenues, including a reconciliation to Total Revenues, for the years ended December 31, 2017, 2016 and 2015 were:
DOLLARS IN MILLIONS |  | 2017 |  | 2016 |  | 2015
Segment Revenues: |  |  |  |  |  |
Property & Casualty Insurance: |  |  |  |  |  |
Earned Premiums |  | $ | 1,736.0 |  |  | $ | 1,614.8 |  |  | $ | 1,415.2 |
Net Investment Income |  | 94.3 |  |  | 72.4 |  |  | 73.3 |
Other Income |  | 1.1 |  |  | 0.5 |  |  | 0.6 |
Total Property & Casualty Insurance |  | 1,831.4 |  |  | 1,687.7 |  |  | 1,489.1 |
Life & Health Insurance: |  |  |  |  |  |
Earned Premiums |  | 614.0 |  |  | 605.2 |  |  | 594.4 |
Net Investment Income |  | 221.5 |  |  | 213.2 |  |  | 214.2 |
Other Income |  | 2.6 |  |  | 2.8 |  |  | 2.4 |
Total Life & Health Insurance |  | 838.1 |  |  | 821.2 |  |  | 811.0 |
Total Segment Revenues |  | 2,669.5 |  |  | 2,508.9 |  |  | 2,300.1 |
Net Realized Gains on the Sales of Investments |  | 56.5 |  |  | 33.1 |  |  | 52.1 |
Net Impairment Losses Recognized in Earnings |  | (14.3 | ) |  | (32.7 | ) |  | (27.2 | )
Other |  | 11.7 |  |  | 12.6 |  |  | 15.8 |
Total Revenues |  | $ | 2,723.4 |  |  | $ | 2,521.9 |  |  | $ | 2,340.8 |
Segment Operating Profit, including a reconciliation to Income from Continuing Operations before Income Taxes, for the years ended December 31, 2017, 2016 and 2015 was:
DOLLARS IN MILLIONS |  | 2017 |  | 2016 |  | 2015
Segment Operating Profit (Loss): |  |  |  |  |  |
Property & Casualty Insurance |  | $ | (1.4 | ) |  | $ | (17.2 | ) |  | $ | 23.7 |
Life & Health Insurance |  | 138.5 |  |  | 45.7 |  |  | 109.7 |
Total Segment Operating Profit |  | 137.1 |  |  | 28.5 |  |  | 133.4 |
Corporate and Other Operating Loss |  | (18.2 | ) |  | (25.4 | ) |  | (48.9 | )
Total Operating Profit |  | 118.9 |  |  | 3.1 |  |  | 84.5 |
Net Realized Gains on Sales of Investments |  | 56.5 |  |  | 33.1 |  |  | 52.1 |
Net Impairment Losses Recognized in Earnings |  | (14.3 | ) |  | (32.7 | ) |  | (27.2 | )
Loss from Early Extinguishment of Debt |  | — |  |  | — |  |  | (9.1 | )
Income from Continuing Operations before Income Taxes |  | $ | 161.1 |  |  | $ | 3.5 |  |  | $ | 100.3 |
NOTE 18. BUSINESS SEGMENTS (Continued) Segment Net Operating Income, including a reconciliation to Income from Continuing Operations, for the years ended December 31, 2017, 2016 and 2015 was:
DOLLARS IN MILLIONS |  | 2017 |  | 2016 |  | 2015
Segment Net Operating Income (Loss): |  |  |  |  |  |
Property & Casualty Insurance |  | $ | 7.8 |  |  | $ | (2.9 | ) |  | $ | 26.7 |
Life & Health Insurance |  | 90.8 |  |  | 30.3 |  |  | 71.7 |
Total Segment Net Operating Income |  | 98.6 |  |  | 27.4 |  |  | 98.4 |
Corporate and Other Net Operating Income (Loss) From: |  |  |  |  |  |
Effects of Tax Law Changes |  | 7.4 |  |  | — |  |  | — |
Other |  | (13.5 | ) |  | (15.0 | ) |  | (28.5 | )
Corporate and Other Net Operating Loss |  | (6.1 | ) |  | (15.0 | ) |  | (28.5 | )
Consolidated Net Operating Income |  | 92.5 |  |  | 12.4 |  |  | 69.9 |
Net Income (Loss) From: |  |  |  |  |  |
Net Realized Gains on Sales of Investments |  | 36.7 |  |  | 21.5 |  |  | 33.9 |
Net Impairment Losses Recognized in Earnings |  | (9.3 | ) |  | (21.2 | ) |  | (17.7 | )
Loss from Early Extinguishment of Debt |  | — |  |  | — |  |  | (5.9 | )
Income from Continuing Operations |  | $ | 119.9 |  |  | $ | 12.7 |  |  | $ | 80.2 |
Amortization of Deferred Policy Acquisition Costs by Operating Segment for the years ended December 31, 2017, 2016 and 2015 was:
DOLLARS IN MILLIONS |  | 2017 |  | 2016 |  | 2015
Property & Casualty Insurance |  | $ | 264.8 |  |  | $ | 252.1 |  |  | $ | 213.1 |
Life & Health Insurance |  | 53.5 |  |  | 47.2 |  |  | 44.3 |
Total Amortization |  | $ | 318.3 |  |  | $ | 299.3 |  |  | $ | 257.4 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
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