Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2012

Comprehensive Income (Loss) [Abstract]

Comprehensive Income (Loss)

13.  COMPREHENSIVE INCOME (LOSS)

The following table presents the components of comprehensive income (loss) in the consolidated statements of operations for the periods indicated:

	Years Ended December 31,
(Dollars in thousands)	2012			2011			2010
Net income (loss)	$	828,954		$	(80,486	)	$	610,754
Other comprehensive income (loss), before tax:
Unrealized appreciation (depreciation) ("URA(D)") on securities arising during the period
URA(D) of investments - temporary		178,405			109,928			65,199
URA(D) of investments - non-credit OTTI		2,181			824			7,831
URA(D) on securities arising during the period		180,586			110,752			73,030
Less:  reclassification adjustment for realized losses (gains) included in net income (loss)		(19,606	)		(4,193	)		(24,593	)
Total URA(D) on securities arising during the period		160,980			106,559			48,437
Foreign currency translation adjustments		26,484			(16,429	)		16,429
Pension adjustments		(10,732	)		(45,310	)		(2,792	)
Total other comprehensive income (loss), before tax		176,732			44,820			62,074
Income tax benefit (expense) related to items of other comprehensive income (loss):
Tax benefit (expense) on URA(D) arising during the period
Tax benefit (expense) on URA(D) of investments - temporary		(6,644	)		(19,338	)		30,504
Tax benefit (expense) on URA(D) of investments - non-credit OTTI		83			66			(1,002	)
Tax benefit (expense) on URA(D) on securities arising during the period		(6,561	)		(19,272	)		29,502
Less:  reclassification of tax expense (benefit) on realized losses (gains) included in net income (loss)		(70	)		(7,146	)		(17,775	)
Total tax benefit (expense) from URA(D) arising during the period		(6,631	)		(26,418	)		11,727
Tax benefit (expense) from foreign currency translation		(3,786	)		460			(14,558	)
Tax benefit (expense) on pension		3,756			15,858			977
Total income tax benefit (expense) related to items of other comprehensive income (loss):		(6,661	)		(10,100	)		(1,854	)
Other comprehensive income (loss), net of tax		170,071			34,720			60,220
Comprehensive income (loss)	$	999,025		$	(45,766	)	$	670,974

The following table presents the components of accumulated other comprehensive income (loss), net of tax, in the consolidated balance sheets for the periods indicated:

	Years Ended December 31,
(Dollars in thousands)	2012			2011
Beginning balance of URA (D) on securities	$	449,579		$	369,438
Current period change in URA (D) of investments - temporary		152,086			79,251
Current period change in URA (D) of investments - non-credit OTTI		2,263			890
Ending balance of URA (D) on securities		603,928			449,579
Beginning balance of foreign currency translation adjustments		(27,066	)		(11,097	)
Current period change in foreign currency translation adjustments		22,698			(15,969	)
Ending balance of foreign currency translation adjustments		(4,368	)		(27,066	)
Beginning balance of pension		(55,535	)		(26,083	)
Current period change in pension		(6,976	)		(29,452	)
Ending balance of pension		(62,511	)		(55,535	)
Ending balance of accumulated other comprehensive income (loss)	$	537,049		$	366,978