XML 67 R52.htm IDEA: XBRL DOCUMENT
v3.20.4

Pension Benefits (Tables) - Pension Plans, Defined Benefit | 12 Months Ended
--- | ---
Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items] |
Schedule of Changes in Fair Value of Plan Assets | Changes in Fair Value of Plan Assets and Changes in Projected Benefit Obligation for the Pension Plan for the years ended December 31, 2020 and 2019 is presented below.
DOLLARS IN MILLIONS |  | 2020 |  | 2019
Fair Value of Plan Assets at Beginning of Year |  | $ | 664.6 |  |  | $ | 525.3 |
Actual Return on Plan Assets |  | 92.1 |  |  | 113.2 |
Employer Contributions |  | — |  |  | 55.3 |
Benefits Paid |  | (145.9) |  |  | (29.2) |
Settlement Benefits |  | (205.4) |  |  | — |
Fair Value of Plan Assets at End of Year |  | 405.4 |  |  | 664.6 |
Projected Benefit Obligation at Beginning of Year |  | 660.5 |  |  | 580.5 |
Interest Cost |  | 16.5 |  |  | 22.3 |
Benefits Paid |  | (145.9) |  |  | (29.2) |
Settlement Benefits |  | (205.4) |  |  | — |
Actuarial (Gains) Losses |  | 56.6 |  |  | 86.9 |
Projected Benefit Obligation at End of Year |  | 382.3 |  |  | 660.5 |
Funded Status—Plan Assets in Excess (Deficit) of Projected Benefit Obligation |  | $ | 23.1 |  |  | $ | 4.1 |
Unamortized Amount Reported in AOCI at End of Year |  | $ | (68.2) |  |  | $ | (145.7) |
Accumulated Benefit Obligation at End of Year |  | $ | 382.3 |  |  | $ | 660.4 |
Schedule of Assumptions Used | The weighted-average discount rate and rate of increase in future compensation levels used to estimate the components of the Projected Benefit Obligation for the Pension Plan at December 31, 2020 and 2019 were:
|  | 2020 |  | 2019
Discount Rate |  | 2.56 | % |  | 3.21 | %
Rate of Increase in Future Compensation Levels |  | 3.40 |  |  | 3.40 |
The weighted-average discount rate, service cost discount rate, interest cost discount rate, rate of increase in future compensation levels and expected long-term rate of return on plan assets used to develop the components of Pension Expense for the Pension Plan for the years ended December 31, 2020, 2019 and 2018 were:
|  | 2020 |  | 2019 |  | 2018
Weighted-average Discount Rate |  | 2.56 | % |  | 4.28 | % |  | 3.63 | %
Service Cost Discount Rate |  | 2.42 |  |  | 4.26 |  |  | 3.61 |
Interest Cost Discount Rate |  | 1.89 |  |  | 3.91 |  |  | 3.26 |
Rate of Increase in Future Compensation Levels |  | 3.40 |  |  | 3.40 |  |  | 3.40 |
Expected Long Term Rate of Return on Plan Assets |  | 4.90 |  |  | 5.70 |  |  | 5.35 |
Schedule of Allocation of Plan Assets | Asset allocations for the Pension Plan at December 31, 2020 and 2019 by asset category were:
ASSET CATEGORY |  | 2020 |  | 2019
Corporate Bonds and Notes |  | 37 | % |  | 40 | %
Common and Preferred Stocks |  | 24 |  |  | 35 |
Bond Exchange Traded Funds |  | 27 |  |  | 14 |
Cash and Short-term Investments |  | 2 |  |  | 2 |
Other Assets |  | 10 |  |  | 9 |
Total |  | 100 | % |  | 100 | %
Fair Value, Measurement Inputs, Disclosure | Fair value measurements for the Pension Plan’s assets at December 31, 2020 are summarized below.
DOLLARS IN MILLIONS |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Measured at Net Asset Value |  | Fair Value
Fixed Maturities: |  |  |  |  |  |  |  |  |  |
U.S. Government and Government Agencies and Authorities |  | $ | 68.3 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 68.3 |
States and Political Subdivisions |  | — |  |  | 0.7 |  |  | — |  |  | — |  |  | 0.7 |
Corporate Bonds and Notes |  | — |  |  | 81.3 |  |  | — |  |  | — |  |  | 81.3 |
Equity Securities: |  |  |  |  |  |  |  |  |  |
Common Stocks: |  |  |  |  |  |  |  |  |  |
Other Industries |  | 64.8 |  |  | — |  |  | — |  |  | — |  |  | 64.8 |
Other Equity Interests: |  |  |  |  |  |  |  |  |  |
Collective Investment Funds |  | — |  |  | — |  |  | — |  |  | 32.1 |  |  | 32.1 |
Bond Exchange Traded Funds |  | 108.6 |  |  | — |  |  | — |  |  | — |  |  | 108.6 |
Limited Liability Companies and Limited Partnerships |  | — |  |  | — |  |  | — |  |  | 41.6 |  |  | 41.6 |
Short-term Investments |  | 7.4 |  |  | — |  |  | — |  |  | — |  |  | 7.4 |
Receivables and Other |  | 0.6 |  |  | — |  |  | — |  |  | — |  |  | 0.6 |
Total |  | $ | 249.7 |  |  | $ | 82.0 |  |  | $ | — |  |  | $ | 73.7 |  |  | $ | 405.4 |
Fair value measurements for the Pension Plan’s assets at December 31, 2019 are summarized below.
DOLLARS IN MILLIONS |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Measured at Net Asset Value |  | Fair Value
Fixed Maturities: |  |  |  |  |  |  |  |  |  |
U.S. Government and Government Agencies and Authorities |  | $ | 158.4 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 158.4 |
States and Political Subdivisions |  | — |  |  | 0.1 |  |  | — |  |  | — |  |  | 0.1 |
Corporate Bonds and Notes |  | — |  |  | 107.3 |  |  | — |  |  | — |  |  | 107.3 |
Equity Securities: |  |  |  |  |  |  |  |  |  |
Common Stocks: |  |  |  |  |  |  |  |  |  |
Other Industries |  | 140.0 |  |  | 21.5 |  |  | — |  |  | — |  |  | 161.5 |
Other Equity Interests: |  |  |  |  |  |  |  |  |  |
Collective Investment Funds |  | — |  |  | — |  |  | — |  |  | 71.8 |  |  | 71.8 |
Bond Exchange Traded Funds |  | 92.8 |  |  | — |  |  | — |  |  | — |  |  | 92.8 |
Limited Liability Companies and Limited Partnerships |  | — |  |  | — |  |  | — |  |  | 63.7 |  |  | 63.7 |
Short-term Investments |  | 10.0 |  |  | — |  |  | — |  |  | — |  |  | 10.0 |
Receivables and Other |  | (1.0) |  |  | — |  |  | — |  |  | — |  |  | (1.0) |
Total |  | $ | 400.2 |  |  | $ | 128.9 |  |  | $ | — |  |  | $ | 135.5 |  |  | $ | 664.6 |
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) | The components of Comprehensive Pension Expense (Income) for the Pension Plan for the years ended December 31, 2020, 2019 and 2018 were:
DOLLARS IN MILLIONS |  | 2020 |  | 2019 |  | 2018
Service Cost Earned During the Year |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest Cost on Projected Benefit Obligation |  | 16.5 |  |  | 22.3 |  |  | 20.3 |
Expected Return on Plan Assets |  | (27.6) |  |  | (30.6) |  |  | (28.9) |
Amortization of Actuarial Loss |  | 5.6 |  |  | 2.9 |  |  | 4.3 |
Settlement Expense |  | 64.1 |  |  | — |  |  | — |
Pension Expense (Income) Recognized in Consolidated Statements of Income |  | 58.6 |  |  | (5.4) |  |  | (4.3) |
Unrecognized Pension Gain (Loss) Arising During the Year |  | (7.8) |  |  | 4.2 |  |  | 11.5 |
Amortization of Accumulated Unrecognized Pension Loss |  | (69.8) |  |  | (2.9) |  |  | (4.3) |
Comprehensive Pension Expense (Income) |  | $ | (19.0) |  |  | $ | (4.1) |  |  | $ | 2.9 |
Schedule of Expected Benefit Payments | The following benefit payments (net of participant contributions), which consider expected future service of certain participants that remain eligible for a benefit accrual, as appropriate, are expected to be paid from the Pension Plan:
DOLLARS IN MILLIONS |  | Years Ending December 31,
2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026-2030
Estimated Pension Benefit Payments |  | $ | 15.8 |  |  | $ | 15.7 |  |  | $ | 16.5 |  |  | $ | 17.2 |  |  | $ | 17.7 |  |  | $ | 93.6 |
Significant Unobservable Inputs (Level 3) |
Defined Benefit Plan Disclosure [Line Items] |
Schedule of Changes in Fair Value of Plan Assets | Additional information pertaining to the changes in the fair value of the Pension Plan’s assets classified as Level 3 in the two preceding tables for the years ended December 31, 2020 and 2019 is presented below.
DOLLARS IN MILLIONS |  |  |  | 2020 |  | 2019
Balance at Beginning of Year |  |  |  | $ | — |  |  | $ | 0.3 |
Purchases, Sales and Settlements, Net |  |  |  | — |  |  | (0.3) |
Balance at End of Year |  |  |  | $ | — |  |  | $ | — |

X
- Definition Schedule of Comprehensive Pension Expense (Benefit) [Table Text Block] + References No definition available. + Details
Name: | kmpr_ScheduleOfComprehensivePensionExpenseBenefitTableTextBlock
Namespace Prefix: | kmpr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DefinedBenefitPlanDisclosureLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -URI http://asc.fasb.org/topic&trid=2155941 + Details
Name: | us-gaap_FairValueMeasurementInputsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_RetirementPlanTypeAxis=us-gaap_PensionPlansDefinedBenefitMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |