Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

AOCI represents the accumulated change in shareholders’ equity from transactions and other events and circumstances from non-shareholder sources. For the Company, AOCI includes the after tax change in net unrealized investment gains (losses) on fixed maturity securities and the after tax change in net funded status of benefit plans for the periods as shown in the Consolidated Statements of Changes in Shareholders’ Equity. The following table reconciles these components.

($ in millions)	Net Unrealized Investment  Gains (Losses)  on Securities(1)		Net Funded Status of Benefit Plans(1)		Total(1)
Beginning balance, January 1, 2022	$	290.7	$	(10.2)	$	280.5
Other comprehensive income (loss) before reclassifications	(284.8)		—		(284.8)
Amounts reclassified from AOCI(2)	14.1		—		14.1
Net current period other comprehensive income (loss)	(270.7)		—		(270.7)
Ending balance, March 31, 2022	$	20.0	$	(10.2)	$	9.8
Beginning balance, January 1, 2021	$	366.3	$	(11.2)	$	355.1
Other comprehensive income (loss) before reclassifications	(129.1)		—		(129.1)
Amounts reclassified from AOCI(2)	6.4		—		6.4
Net current period other comprehensive income (loss)	(122.7)		—		(122.7)
Ending balance, March 31, 2021	$	243.6	$	(11.2)	$	232.4

(1)All amounts are net of tax.

(2)The pretax amounts reclassified from AOCI, $(17.9) million and $(8.1) million, are included in Net investment losses and the related income tax expenses, $(3.8) million and $(1.7) million, are included in income tax expense in the Consolidated Statements of Operations for the three months ended March 31, 2022 and 2021, respectively.

Comparative information for elements that are not required to be reclassified in their entirety to net income in the same reporting period is disclosed in Note 3.