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Realized And Unrealized Investment Gains (Losses) on Investments
 6 Months Ended
Jun. 30, 2018
Realized and Unrealized Investment Gains (Losses) [Abstract]  
Realized And Unrealized Investment Gains (Losses) on Investments
Realized and Unrealized Gains (Losses) on Investments
 Net realized and unrealized gains (losses) on investments are as follows:
 
For the Three Months
Ended June 30,
 
For the Six Months
Ended June 30,
(In thousands)
2018
 
2017
 
2018
 
2017
Net realized and unrealized gains (losses) on investments in earnings
 
 
 
 
 

 
 

Fixed maturity securities:
 
 
 
 
 

 
 

Gains
$
7,921

 
$
7,427

 
$
21,260

 
$
13,032

Losses
(4,125
)
 
—

 
(7,865
)
 
(3,965
)
Equity securities (1):
 
 
 
 
 
 
 
Net realized gains on investment sales
119,422

 
32,139

 
241,743

 
74,846

Change in unrealized gains
(54,652
)
 
—

 
(148,857
)
 
—

Investment funds
(353
)
 
(112
)
 
(234
)
 
1,155

Real estate
(402
)
 
(364
)
 
7,596

 
2,936

Loans receivable
1

 
—

 
2,059

 
—

Other
1,819

 
1,363

 
2,393

 
4,797

Net realized and unrealized gains on investments in earnings before OTTI
69,631

 
40,453

 
118,095

 
92,801

Other-than-temporary impairments
—

 
—

 
—

 
—

Net realized and unrealized gains on investments in earnings
69,631

 
40,453

 
118,095

 
92,801

Income tax expense
(14,623
)
 
(14,159
)
 
(24,800
)
 
(32,480
)
After-tax net realized and unrealized gains on investments in earnings
$
55,008

 
$
26,294

 
$
93,295

 
$
60,321


Change in unrealized investment gains of available for sale securities:
 
 
 
 
 

 
 

Fixed maturity securities
$
(36,848
)
 
$
56,857

 
$
(196,575
)
 
$
94,841

Previously impaired fixed maturity securities
(2
)
 
743

 
11

 
844

Equity securities available for sale (2)
—

 
6,176

 
—

 
(42,686
)
Investment funds
(3,638
)
 
4,506

 
(4,772
)
 
5,712

Total change in unrealized investment gains
(40,488
)
 
68,282

 
(201,336
)
 
58,711

Income tax benefit (expense)
8,118

 
(24,713
)
 
43,194

 
(23,973
)
Noncontrolling interests
37

 
(5
)
 
26

 
14

After-tax change in unrealized investment gains of available for sale securities
$
(32,333
)
 
$
43,564

 
$
(158,116
)
 
$
34,752

______________________
(1) The net realized gains or losses on investment sales represent the total gains or losses from the purchase dates of the equity securities. The change in unrealized gains consists of two components: (i) the reversal of the gain or loss recognized in previous periods on equity securities sold and (ii) the change in unrealized gain or loss resulting from mark-to-market adjustments on equity securities still held.
(2) Effective January 1, 2018, the Company adopted new accounting guidance that requires all equity investments with readily determinable fair values (subject to certain exceptions) to be measured at fair value with changes in the fair value recognized in net income. The Company recorded an adjustment of $291 million to opening AOCI net of tax as a result of this guidance. Refer to Note 3 for further information.