Consolidated Statements of Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Components of changes in accumulated other comprehensive income (loss)

The following table presents the components of the changes in accumulated other comprehensive (loss) income ("AOCI"):

(In thousands)	Unrealized Investment (Losses) Gains			Currency Translation Adjustments		Accumulated Other Comprehensive (Loss) Income
As of and for the six months ended June 30, 2023
Changes in AOCI
Beginning of period	$	(892,905)		$	(371,676)	$	(1,264,581)
Other comprehensive income before reclassifications	99,093			15,394		114,487
Amounts reclassified from AOCI	(31,578)			—		(31,578)
Other comprehensive income	67,515			15,394		82,909
Unrealized investment loss related to noncontrolling interest	(1)			—		(1)
End of period	$	(825,391)		$	(356,282)	$	(1,181,673)
Amounts reclassified from AOCI
Pre-tax	$	(39,972)	(1)	$	—	$	(39,972)
Tax effect	8,394		(2)	—		8,394
After-tax amounts reclassified	$	(31,578)		$	—	$	(31,578)
Other comprehensive income
Pre-tax	$	87,978		$	15,394	$	103,372
Tax effect	(20,463)			—		(20,463)
Other comprehensive income	$	67,515		$	15,394	$	82,909
As of and for the three months ended June 30, 2023
Changes in AOCI
Beginning of period	$	(712,107)		$	(366,810)	$	(1,078,917)
Other comprehensive (loss) income before reclassifications	(56,122)			10,528		(45,594)
Amounts reclassified from AOCI	(57,162)			—		(57,162)
Other comprehensive (loss) income	(113,284)			10,528		(102,756)
Unrealized investment loss related to noncontrolling interest	—			—		—
Ending balance	$	(825,391)		$	(356,282)	$	(1,181,673)
Amounts reclassified from AOCI
Pre-tax	$	(72,357)	(1)	$	—	$	(72,357)
Tax effect	15,195		(2)	—		15,195
After-tax amounts reclassified	$	(57,162)		$	—	$	(57,162)
Other comprehensive (loss) income
Pre-tax	$	(144,043)		$	10,528	$	(133,515)
Tax effect	30,759			—		30,759
Other comprehensive (loss) income	$	(113,284)		$	10,528	$	(102,756)

(In thousands)	Unrealized Investment (Losses) Gains			Currency Translation Adjustments		Accumulated Other Comprehensive (Loss) Income
As of and for the six months ended June 30, 2022
Changes in AOCI
Beginning of period	$	90,900		$	(372,855)	$	(281,955)
Other comprehensive (loss) income before reclassifications	(799,623)			12,879		(786,744)
Amounts reclassified from AOCI	39,070			—		39,070
Other comprehensive (loss) income	(760,553)			12,879		(747,674)
Unrealized investment loss related to noncontrolling interest	(1)			—		(1)
End of period	$	(669,654)		$	(359,976)	$	(1,029,630)
Amounts reclassified from AOCI
Pre-tax	$	49,456	(1)	$	—	$	49,456
Tax effect	(10,386)		(2)	—		(10,386)
After-tax amounts reclassified	$	39,070		$	—	$	39,070
Other comprehensive (loss) income
Pre-tax	$	(970,232)		$	12,879	$	(957,353)
Tax effect	209,679			—		209,679
Other comprehensive (loss) income	$	(760,553)		$	12,879	$	(747,674)
As of and for the three months ended June 30, 2022
Changes in AOCI
Beginning of period	$	(332,646)		$	(316,583)	$	(649,229)
Other comprehensive loss before reclassifications	(366,488)			(43,393)		(409,881)
Amounts reclassified from AOCI	29,480			—		29,480
Other comprehensive loss	(337,008)			(43,393)		(380,401)
Unrealized investment loss related to noncontrolling interest	—			—		—
Ending balance	$	(669,654)		$	(359,976)	$	(1,029,630)
Amounts reclassified from AOCI
Pre-tax	$	37,316	(1)	$	—	$	37,316
Tax effect	(7,836)		(2)	—		(7,836)
After-tax amounts reclassified	$	29,480		$	—	$	29,480
Other comprehensive loss
Pre-tax	$	(430,784)		$	(43,393)	$	(474,177)
Tax effect	93,776			—		93,776
Other comprehensive loss	$	(337,008)		$	(43,393)	$	(380,401)

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(1) Net investment gains (losses) in the consolidated statements of income.

(2) Income tax expense in the consolidated statements of income.