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v3.19.3.a.u2

Income from Investments (Tables) | 12 Months Ended
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Dec. 31, 2019
Investment Income, Net [Abstract] |
Net Investment Income | Net Investment Income for the years ended December 31, 2019, 2018 and 2017 was:
DOLLARS IN MILLIONS |  | 2019 |  | 2018 |  | 2017
Investment Income: |  |  |  |  |  |
Interest on Fixed Income Securities |  | $ | 299.4 |  |  | $ | 268.9 |  |  | $ | 246.6 |
Dividends on Equity Securities Excluding Alternative Investments |  | 22.9 |  |  | 13.6 |  |  | 9.3 |
Alternative Investments: |  |  |  |  |  |
Equity Method Limited Liability Investments |  | 1.0 |  |  | 11.0 |  |  | 24.8 |
Fair Value Option Investments |  | — |  |  | — |  |  | 1.3 |
Limited Liability Investments Included in Equity Securities |  | 18.0 |  |  | 26.4 |  |  | 28.6 |
Total Alternative Investments |  | 19.0 |  |  | 37.4 |  |  | 54.7 |
Short-term Investments |  | 8.2 |  |  | 7.0 |  |  | 1.6 |
Loans to Policyholders |  | 22.6 |  |  | 22.5 |  |  | 21.6 |
Real Estate |  | 9.8 |  |  | 9.6 |  |  | 10.7 |
Other |  | 1.5 |  |  | 0.9 |  |  | 0.5 |
Total Investment Income |  | 383.4 |  |  | 359.9 |  |  | 345.0 |
Investment Expenses: |  |  |  |  |  |
Real Estate |  | 9.6 |  |  | 9.7 |  |  | 10.5 |
Other Investment Expenses |  | 9.5 |  |  | 9.3 |  |  | 7.3 |
Total Investment Expenses |  | 19.1 |  |  | 19.0 |  |  | 17.8 |
Net Investment Income |  | $ | 364.3 |  |  | $ | 340.9 |  |  | $ | 327.2 |
Realized Gain (Loss) on Investments | The components of Net Realized Gains on Sales of Investments for the years ended December 31, 2019, 2018 and 2017 were:
DOLLARS IN MILLIONS |  | 2019 |  | 2018 |  | 2017
Fixed Maturities: |  |  |  |  |  |
Gains on Sales |  | $ | 41.1 |  |  | $ | 25.3 |  |  | $ | 8.4 |
Losses on Sales |  | (4.8 | ) |  | (11.1 | ) |  | (0.9 | )
Equity Securities: |  |  |  |  |  |
Gains on Sales |  | 5.8 |  |  | 12.3 |  |  | 42.0 |
Losses on Sales |  | (0.2 | ) |  | — |  |  | — |
Real Estate: |  |  |  |  |  |
Gains on Sales |  | — |  |  | — |  |  | 6.4 |
Other Investments: |  |  |  |  |  |
Gains on Other Sales |  | — |  |  | — |  |  | 0.1 |
Losses on Sales |  | — |  |  | (0.1 | ) |  | (0.1 | )
Net Gains on Trading Securities |  | — |  |  | — |  |  | 0.6 |
Net Realized Gains on Sales of Investments |  | $ | 41.9 |  |  | $ | 26.4 |  |  | $ | 56.5 |
Gross Gains on Sales |  | $ | 46.9 |  |  | $ | 37.6 |  |  | $ | 56.9 |
Gross Losses on Sales |  | (5.0 | ) |  | (11.2 | ) |  | (1.0 | )
Net Gains on Trading Securities |  | — |  |  | — |  |  | 0.6 |
Net Realized Gains on Sales of Investments |  | $ | 41.9 |  |  | $ | 26.4 |  |  | $ | 56.5 |
Other than Temporary Impairment, Credit Losses Recognized in Earnings | The following table sets forth the pre-tax amount of other-than-temporary impairments (“OTTI”) credit losses, recognized in Retained Earnings for Investments in Fixed Maturities held by the Company as of the beginning and end of the periods presented for which a portion of the OTTI loss related to factors other than credit has been recognized in AOCI, and the corresponding changes in such amounts.
DOLLARS IN MILLIONS |  | 2019 |  | 2018 |  | 2017
Cumulative Balance of Pre-tax Credit Losses Recognized in Retained Earnings at Beginning of Year |  | $ | 1.1 |  |  | $ | 1.6 |  |  | $ | 1.4 |
Pre-tax Credit Losses on Fixed Maturities without Pre-tax Credit Losses Included in Cumulative Balance at Beginning of Year |  | 0.2 |  |  | — |  |  | 1.2 |
Reductions for Change in Impairment Status: |  |  |  |  |  |
From Status of Credit Loss to Status of Intent-to-sell or Required-to-sell |  | — |  |  | (0.5 | ) |  | (0.7 | )
Reductions for Investments Sold During Year |  | (0.1 | ) |  | — |  |  | (0.3 | )
Cumulative Balance of Pre-tax Credit Losses Recognized in Retained Earnings at End of Year |  | $ | 1.2 |  |  | $ | 1.1 |  |  | $ | 1.6 |
The components of Net Impairment Losses Recognized in Earnings reported in the Consolidated Statements of Income for the years ended December 31, 2019, 2018 and 2017 were:
DOLLARS IN MILLIONS |  | 2019 |  | 2018 |  | 2017
Fixed Maturities |  | $ | (13.3 | ) |  | $ | (2.0 | ) |  | $ | (12.1 | )
Equity Securities |  | (0.5 | ) |  | (2.5 | ) |  | (2.2 | )
Net Impairment Losses Recognized in Earnings |  | $ | (13.8 | ) |  | $ | (4.5 | ) |  | $ | (14.3 | )

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- Definition Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=118939692&loc=d3e27340-111563 + Details
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