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Other Comprehensive Income (Loss)
12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Other Comprehensive Income (Loss) OTHER COMPREHENSIVE INCOME (LOSS)
The components of other comprehensive income (loss), including reclassification adjustments by income statement line item, for the years ended December 31, were as follows:
    Components of Changes in
Accumulated Other
Comprehensive Income (after tax)
(millions)Pretax total
accumulated
other
comprehensive
income (loss)
Total tax
(provision)
benefit
After tax total
accumulated
other
comprehensive
income (loss)
Total net
unrealized
gains 
(losses)
on securities
Net unrealized
gains (losses)
on
forecasted
transactions
Foreign
currency
translation
adjustment
Balance at December 31, 2020$1,187.4 $(255.7)$931.7 $947.3 $(15.6)$
Other comprehensive income (loss) before reclassifications:
Investment securities
(892.4)193.0 (699.4)(699.4)
Foreign currency translation adjustment
(0.8)0.2 (0.6)(0.6)
Total other comprehensive income (loss) before reclassifications
(893.2)193.2 (700.0)(699.4)(0.6)
Less: Reclassification adjustment for amounts realized in net income by income statement line item:
Net realized gains (losses) on securities242.8 (51.1)191.7 191.7 
Interest expense(0.9)0.2 (0.7)(0.7)
Total reclassification adjustment for amounts realized in net income
241.9 (50.9)191.0 191.7 (0.7)
Total other comprehensive income (loss)(1,135.1)244.1 (891.0)(891.1)0.7 (0.6)
Balance at December 31, 2021$52.3 $(11.6)$40.7 $56.2 $(14.9)$(0.6)

    Components of Changes in
Accumulated Other
Comprehensive Income (after tax)
(millions)Pretax total
accumulated
other
comprehensive
income (loss)
Total tax
(provision)
benefit
After tax total
accumulated
other
comprehensive
income (loss)
Total net
unrealized
gains 
(losses)
on securities
Net unrealized
gains (losses)
on
forecasted
transactions
(Income) loss attributable to NCI
Balance at December 31, 2019$435.7 $(94.0)$341.7 $360.8 $(16.4)$(2.7)
Reclassification of disproportionate amounts1
3.4 (0.7)2.7 2.7 
Adjusted balance at December 31, 2019439.1 (94.7)344.4 360.8 (16.4)
Other comprehensive income (loss) before reclassifications:
Investment securities
1,557.2 (306.1)1,251.1 1,251.1 
Total other comprehensive income (loss) before reclassifications1,557.2 (306.1)1,251.1 1,251.1 
Less: Reclassification adjustment for amounts realized in net income by income statement line item:
Net realized gains (losses) on securities810.0 (145.4)664.6 664.6 
Interest expense(1.1)0.3 (0.8)(0.8)
Total reclassification adjustment for amounts realized in net income
808.9 (145.1)663.8 664.6 (0.8)
Total other comprehensive income (loss)748.3 (161.0)587.3 586.5 0.8 
Balance at December 31, 2020$1,187.4 $(255.7)$931.7 $947.3 $(15.6)$
1Adjustment to reflect the change in value on (income) loss attributable to noncontrolling interest in conjunction with the purchase transaction (See Note 15 - Redeemable Noncontrolling Interest for additional information).
 
    Components of Changes in
Accumulated Other
Comprehensive Income (after tax)
(millions)Pretax total
accumulated
other
comprehensive
income (loss)
Total tax
(provision)
benefit
After tax total
accumulated
other
comprehensive
income (loss)
Total net
unrealized
gains 
(losses)
on securities
Net unrealized
gains (losses)
on
forecasted
transactions
(Income) loss attributable to NCI
Balance at December 31, 2018$(153.0)$32.1 $(120.9)$(105.6)$(17.2)$1.9 
Other comprehensive income (loss) before reclassifications:
Investment securities825.8 (174.9)650.9 650.9 
Loss attributable to noncontrolling interest(5.9)1.3 (4.6)(4.6)
Total other comprehensive income (loss) before reclassifications819.9 (173.6)646.3 650.9 (4.6)
Less: Reclassification adjustment for amounts realized in net income by income statement line item:
Net realized gains (losses) on securities232.2 (47.7)184.5 184.5 
Interest expense(1.0)0.2 (0.8)(0.8)
Total reclassification adjustment for amounts realized in net income231.2 (47.5)183.7 184.5 (0.8)
Total other comprehensive income (loss)588.7 (126.1)462.6 466.4 0.8 (4.6)
Total at December 31, 2019$435.7 $(94.0)$341.7 $360.8 $(16.4)$(2.7)
In an effort to manage interest rate risk, we may enter into forecasted transactions on Progressive’s debt issuances. We expect to reclassify $0.5 million (pretax) into interest expense during the next 12 months, related to net unrealized losses on forecasted transactions (see Note 4 – Debt for further discussion).