Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2017

The following is a summary of changes in common shares issued and outstanding during the years ended December 31, 2017, 2016 and 2015:



(In thousands)	2017	2016		2015
Issued and outstanding shares - January 1	53,251	53,101		56,534
Repurchase of shares, at cost of $2 million and $170 million for 2016 and 2015, respectively	—	(44	)	(3,680	)
Shares issued due to exercise of options and vesting of share-based compensation awards	132	108		150
Other shares issued for compensation and shares reissued to stock purchase plan*	74	86		97
Issued and outstanding shares - December 31	53,457	53,251		53,101
* Shares issued were valued at fair value (the market price of a ProAssurance common share on the date of issue).

ProAssurance declared cash dividends during 2017, 2016 and 2015 as follows:



	Cash Dividends Declared, per Share
	2017		2016		2015
First Quarter	$	0.31	$	0.31	$	0.31
Second Quarter	$	0.31	$	0.31	$	0.31
Third Quarter	$	0.31	$	0.31	$	0.31
Fourth Quarter*	$	5.00	$	5.00	$	1.31

* Includes special dividends of $4.69 per share in both 2017 and 2016 and $1.00 per share in 2015.

Amounts reclassified from AOCI to net income and the amounts of deferred tax expense (benefit) included in OCI were as follows:



(In thousands)	2017			2016			2015
Reclassifications from AOCI to net income:
Realized investment gains (losses)	$	2,512		$	2,417		$	(4,475	)
Non-credit impairment losses reclassified to earnings, due to sale of securities or reclassification as a credit loss	(3		)	(3,641		)	(2,279		)
Unrecognized losses in defined benefit plan liabilities reclassified to earnings, due to the termination and settlement of the plan	—			(1,500		)	—
Total gains (losses) reclassified, before-tax effect	2,509			(2,724		)	(6,754		)
Tax effect (at 35%)	(878		)	953			2,364
Net reclassification adjustments	$	1,631		$	(1,771	)	$	(4,390	)

Deferred tax expense (benefit) included in OCI	$	(4,676	)	$	(3,078	)	$	(18,370	)