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Other Comprehensive Income (Tables)
 6 Months Ended
Jun. 30, 2018
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Other comprehensive income
The pretax and related income tax (expense) benefit components of our other comprehensive income (loss) for the three and six months ended June 30, 2018 and 2017 are included in table 9.1 below.
 
Table
9.1
 
 
 
 
 
 
 
 
Components of other comprehensive (loss) income
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In thousands)
 
2018
 
2017
 
2018
 
2017
Net unrealized investment (losses) gains arising during the period
 
$
(12,558
)
 
$
39,614

 
$
(94,145
)
 
$
58,261

 
Income tax benefit (expense)
 
2,636

 
(13,865
)
 
19,770

 
(20,391
)
 
Net of taxes
 
(9,922
)
 
25,749

 
(74,375
)
 
37,870

 
 
 
 
 
 
 
 
 
 
 
Net changes in benefit plan assets and obligations
 
491

 
(220
)
 
1,116

 
(454
)
 
Income tax (expense) benefit
 
(103
)
 
78

 
(234
)
 
159

 
Net of taxes
 
388

 
(142
)
 
882

 
(295
)
 
 
 
 
 
 
 
 
 
 
 
Net changes in unrealized foreign currency translation adjustment
 
—

 
—

 
—

 
45

 
Income tax (expense)
 
—

 
—

 
—

 
(14
)
 
Net of taxes
 
—

 
—

 
—

 
31

 
 
 
 
 
 
 
 
 
 
 
Total other comprehensive (loss) income
 
(12,067
)
 
39,394

 
(93,029
)
 
57,852

 
Total income tax benefit (expense)
 
2,533

 
(13,787
)
 
19,536

 
(20,246
)
 
Total other comprehensive (loss) income, net of tax
 
$
(9,534
)
 
$
25,607

 
$
(73,493
)
 
$
37,606
Reclassification out of accumulated other comprehensive income
The pretax and related income tax benefit (expense) components of the amounts reclassified from our accumulated other comprehensive loss (“AOCL”) to our consolidated statements of operations for the three and six months ended June 30, 2018 and 2017 are included in table 9.2 below.
 
Table
9.2
 
 
 
 
 
 
 
 
Reclassifications from AOCL
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In thousands)
 
2018
 
2017
 
2018
 
2017
 
Reclassification adjustment for net realized (losses) (1)
 
$
(3,621
)
 
$
(1,392
)
 
$
(3,712
)
 
$
(2,139
)
 
Income tax benefit
 
760

 
487

 
779

 
748

 
Net of taxes
 
(2,861
)
 
(905
)
 
(2,933
)
 
(1,391
)
 
 
 
 
 
 
 
 
 
 
 
Reclassification adjustment related to benefit plan assets and obligations (2)
 
(491
)
 
220

 
(1,116
)
 
454

 
Income tax benefit (expense)
 
103

 
(78
)
 
234

 
(159
)
 
Net of taxes
 
(388
)
 
142

 
(882
)
 
295

 
 
 
 
 
 
 
 
 
 
 
Total reclassifications
 
(4,112
)
 
(1,172
)
 
(4,828
)
 
(1,685
)
 
Total income tax benefit
 
863

 
409

 
1,013

 
589

 
Total reclassifications, net of tax
 
$
(3,249
)
 
$
(763
)
 
$
(3,815
)
 
$
(1,096
)

(1) 
Increases (decreases) Net realized investment (losses) gains on the consolidated statements of operations.
(2) 
Decreases (increases) Other underwriting and operating expenses, net on the consolidated statements of operations.
Accumulated other comprehensive income (loss)
A rollforward of AOCL for the six months ended June 30, 2018, including amounts reclassified from AOCL, are included in table 9.3 below.
 
Table
9.3
 
 
 
 
 
 
Rollforward of AOCL
 
 
 
Six Months Ended June 30, 2018
(In thousands)
 
Net unrealized gains and losses on available-for-sale securities
 
Net benefit plan assets and obligations recognized in shareholders' equity
 
Total AOCL
 
Balance, December 31, 2017, net of tax
 
$
29,257

 
$
(73,058
)
 
$
(43,801
)
 
Other comprehensive income before reclassifications
 
(77,308
)
 
—

 
(77,308
)
 
Less: Amounts reclassified from AOCL
 
(2,933
)
 
(882
)
 
(3,815
)
 
Balance, June 30, 2018, net of tax
$
(45,118
)
 
$
(72,176
)
 
$
(117,294
)