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Acquisition of Business (Tables) | 9 Months Ended
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Sep. 30, 2018
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed |
(Dollars in Millions) |  |
Investments |  | $ | 1,569.3 |
Short Term Investments |  | 98.8 |
Cash |  | 4.0 |
Receivables from Policyholders |  | 582.3 |
Other Receivables |  | 31.9 |
Value of Intangible Assets Acquired (Reported in Other Assets) |  | 262.7 |
Goodwill |  | 768.2 |
Other Assets |  | 102.1 |
Property and Casualty Insurance Reserves |  | (701.4 | )
Unearned Premiums |  | (714.6 | )
Debt |  | (282.1 | )
Current Income Tax Liabilities |  | (1.8 | )
Deferred Income Tax Liabilities |  | (12.2 | )
Accrued Expenses and Other Liabilities |  | (158.5 | )
Total Purchase Price |  | 1,548.7 |
Business Acquisition, Pro Forma Information | The following unaudited pro forma information presents the Company’s results of operations as if the acquisition of Infinity occurred on January 1, 2017. The adjustments to arrive at the pro forma information below included adjustments for the lost investment income on the cash used to fund the acquisition, amortization of the fair value adjustment on Infinity investments, amortization of the acquired intangible assets, interest expense on debt incurred to finance the acquisition and the exclusion of Note 2 - Acquisition of Business (continued) certain acquisition related costs considered to be non-recurring in nature. Shares used to calculate the basic and diluted earnings per share were adjusted to reflect the additional shares of common stock issued to fund the acquisition.
|  | Nine Months Ended |  | Three Months Ended
(Dollars in millions, except per share amounts) |  | Sep 30, 2018 |  | Sep 30, 2017 |  | Sep 30, 2018 |  | Sep 30, 2017
Total Revenues |  | $ | 3,375.2 |  |  | $ | 3,080.3 |  |  | $ | 1,194.9 |  |  | $ | 1,044.4 |
Total Expenses |  | 3,065.7 |  |  | 2,995.8 |  |  | 1,044.4 |  |  | 966.6 |
Income from Continuing Operations before Income Taxes |  | 309.5 |  |  | 84.5 |  |  | 150.5 |  |  | 77.8 |
Net Income |  | $ | 275.5 |  |  | $ | 54.8 |  |  | $ | 147.5 |  |  | $ | 53.0 |
Net Income Per Unrestricted Share: |  |  |  |  |  |  |  |
Basic |  | $ | 4.26 |  |  | $ | 0.85 |  |  | $ | 2.28 |  |  | $ | 0.82 |
Diluted |  | $ | 4.23 |  |  | $ | 0.85 |  |  | $ | 2.26 |  |  | $ | 0.82 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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