| Accumulated Other Comprehensive Income (Loss) |
Components of our accumulated other comprehensive income (loss), after tax, and related changes are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net Unrealized Gain (Loss) on Securities | | Net Gain on Hedges | | Foreign Currency Translation Adjustment | | Unrecognized Pension and Postretirement Benefit Costs | | Total | | | (in millions of dollars) | | Balance at June 30, 2022 | | $ | (1,064.9) | | | $ | 46.4 | | | $ | (366.9) | | | $ | (386.8) | | | $ | (1,772.2) | | | Other Comprehensive Income (Loss) Before Reclassifications | | (1,275.5) | | | (23.0) | | | (71.1) | | | 2.8 | | | (1,366.8) | | | Amounts Reclassified from Accumulated Other Comprehensive Income or Loss | | 11.1 | | | (9.9) | | | — | | | 3.1 | | | 4.3 | | | Net Other Comprehensive Income (Loss) | | (1,264.4) | | | (32.9) | | | (71.1) | | | 5.9 | | | (1,362.5) | | | Balance at September 30, 2022 | | $ | (2,329.3) | | | $ | 13.5 | | | $ | (438.0) | | | $ | (380.9) | | | $ | (3,134.7) | | | | | | | | | | | | | | Balance at June 30, 2021 | | $ | 911.4 | | | $ | 77.5 | | | $ | (244.7) | | | $ | (522.1) | | | $ | 222.1 | | | Other Comprehensive Income (Loss) Before Reclassifications | | (79.3) | | | 3.9 | | | (30.5) | | | 1.4 | | | (104.5) | | | Amounts Reclassified from Accumulated Other Comprehensive Income or Loss | | 3.9 | | | (11.9) | | | — | | | 4.3 | | | (3.7) | | | Net Other Comprehensive Income (Loss) | | (75.4) | | | (8.0) | | | (30.5) | | | 5.7 | | | (108.2) | | | Balance at September 30, 2021 | | $ | 836.0 | | | $ | 69.5 | | | $ | (275.2) | | | $ | (516.4) | | | $ | 113.9 | | | | | | | | | | | | | | Balance at December 31, 2021 | | $ | 962.2 | | | $ | 61.8 | | | $ | (273.9) | | | $ | (396.0) | | | $ | 354.1 | | | Other Comprehensive Income (Loss) Before Reclassifications | | (3,315.4) | | | (17.1) | | | (164.1) | | | 5.9 | | | (3,490.7) | | | Amounts Reclassified from Accumulated Other Comprehensive Income or Loss | | 23.9 | | | (31.2) | | | — | | | 9.2 | | | 1.9 | | | Net Other Comprehensive Income (Loss) | | (3,291.5) | | | (48.3) | | | (164.1) | | | 15.1 | | | (3,488.8) | | | Balance at September 30, 2022 | | $ | (2,329.3) | | | $ | 13.5 | | | $ | (438.0) | | | $ | (380.9) | | | $ | (3,134.7) | | | | | | | | | | | | | | Balance at December 31, 2020 | | $ | 1,067.7 | | | $ | 97.8 | | | $ | (261.3) | | | $ | (530.0) | | | $ | 374.2 | | | Other Comprehensive Income (Loss) Before Reclassifications | | (295.1) | | | 10.8 | | | (13.9) | | | 0.4 | | | (297.8) | | | Amounts Reclassified from Accumulated Other Comprehensive Income or Loss | | 63.4 | | | (39.1) | | | — | | | 13.2 | | | 37.5 | | | Net Other Comprehensive Income (Loss) | | (231.7) | | | (28.3) | | | (13.9) | | | 13.6 | | | (260.3) | | | Balance at September 30, 2021 | | $ | 836.0 | | | $ | 69.5 | | | $ | (275.2) | | | $ | (516.4) | | | $ | 113.9 | |
The net unrealized gain (loss) on securities consists of the following components: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Change at September 30, 2022 | | | September 30 | | June 30 | | December 31 | | Three Months | | Nine Months | | | 2022 | | 2022 | | 2021 | | Ended | | Ended | | | (in millions of dollars) | | Fixed Maturity Securities | | $ | (3,568.6) | | | $ | (1,122.0) | | | $ | 5,949.3 | | | $ | (2,446.6) | | | $ | (9,517.9) | | | Deferred Acquisition Costs | | 13.5 | | | (8.1) | | | (70.4) | | | 21.6 | | | 83.9 | | | Reserves for Future Policy and Contract Benefits | | 764.3 | | | (104.2) | | | (4,659.5) | | | 868.5 | | | 5,423.8 | | | Reinsurance Recoverable | | (24.7) | | | 19.7 | | | 132.1 | | | (44.4) | | | (156.8) | | | Income Tax | | 486.2 | | | 149.7 | | | (389.3) | | | 336.5 | | | 875.5 | | | Total | | $ | (2,329.3) | | | $ | (1,064.9) | | | $ | 962.2 | | | $ | (1,264.4) | | | $ | (3,291.5) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Change at September 30, 2021 | | | September 30 | | June 30 | | December 31 | Three Months | | Nine Months | | | 2021 | | 2021 | | 2020 | | Ended | | Ended | | | (in millions of dollars) | | Fixed Maturity Securities | | $ | 6,273.3 | | | $ | 6,603.1 | | | $ | 7,597.6 | | | $ | (329.8) | | | $ | (1,324.3) | | | Deferred Acquisition Costs | | (73.0) | | | (79.8) | | | (85.1) | | | 6.8 | | | 12.1 | | | Reserves for Future Policy and Contract Benefits | | (5,143.9) | | | (5,386.6) | | | (6,225.6) | | | 242.7 | | | 1,081.7 | | | Reinsurance Recoverable | | 138.2 | | | 152.8 | | | 200.2 | | | (14.6) | | | (62.0) | | | Income Tax | | (358.6) | | | (378.1) | | | (419.4) | | | 19.5 | | | 60.8 | | | Total | | $ | 836.0 | | | $ | 911.4 | | | $ | 1,067.7 | | | $ | (75.4) | | | $ | (231.7) | |
Amounts reclassified from accumulated other comprehensive income (loss) were recognized in our consolidated statements of income as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30 | | Nine Months Ended September 30 | | | 2022 | | 2021 | | 2022 | | 2021 | | | (in millions of dollars) | | Net Unrealized Loss on Securities | | | | | | | | | | Net Investment Gain (Loss) | | | | | | | | | | Gain (Loss) on Sales of Securities | | $ | (13.4) | | | $ | (4.9) | | | $ | (25.6) | | | $ | 62.8 | | | Credit Losses on Fixed Maturity Securities | | (0.5) | | | — | | | (4.6) | | | (9.3) | | | Loss on Benefits and Change in Reserves for Future Benefits | | — | | | — | | | — | | | (133.1) | | | | (13.9) | | | (4.9) | | | (30.2) | | | (79.6) | | | Income Tax Benefit | | (2.8) | | | (1.0) | | | (6.3) | | | (16.2) | | | Total | | $ | (11.1) | | | $ | (3.9) | | | $ | (23.9) | | | $ | (63.4) | | | | | | | | | | | | Net Gain on Hedges | | | | | | | | | | Net Investment Income | | | | | | | | | | Gain on Interest Rate Swaps and Forwards | | $ | 14.1 | | | $ | 14.5 | | | $ | 40.5 | | | $ | 46.2 | | | Gain (Loss) on Foreign Exchange Contracts | | (1.5) | | | 0.3 | | | (1.0) | | | 1.2 | | | Net Investment Gain | | | | | | | | | | Gain on Interest Rate Swaps | | — | | | 0.2 | | | — | | | 2.0 | | | Gain on Foreign Exchange Contracts | | — | | | 0.1 | | | — | | | 0.1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 12.6 | | | 15.1 | | | 39.5 | | | 49.5 | | | Income Tax Expense | | 2.7 | | | 3.2 | | | 8.3 | | | 10.4 | | | Total | | $ | 9.9 | | | $ | 11.9 | | | $ | 31.2 | | | $ | 39.1 | | | | | | | | | | | | Unrecognized Pension and Postretirement Benefit Costs | | | | | | | | | | Other Expenses | | | | | | | | | | Amortization of Net Actuarial Loss | | $ | (4.0) | | | $ | (5.5) | | | $ | (11.8) | | | $ | (16.9) | | | Amortization of Prior Service Credit | | 0.1 | | | 0.1 | | | 0.2 | | | 0.2 | | | | (3.9) | | | (5.4) | | | (11.6) | | | (16.7) | | | Income Tax Benefit | | (0.8) | | | (1.1) | | | (2.4) | | | (3.5) | | | Total | | $ | (3.1) | | | $ | (4.3) | | | $ | (9.2) | | | $ | (13.2) | |
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