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Other Comprehensive Income (Tables)
 9 Months Ended
Sep. 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 nine months ended September 30, 2018 and 2017 are included in table 9.1 below.
 
Table
9.1
 
 
 
 
 
 
 
 
Components of other comprehensive (loss) income
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In thousands)
 
2018
 
2017
 
2018
 
2017
Net unrealized investment (losses) gains arising during the period
 
$
(15,288
)
 
$
17,761

 
$
(109,433
)
 
$
76,022

 
Income tax benefit (expense)
 
3,211

 
(6,217
)
 
22,981

 
(26,608
)
 
Net of taxes
 
(12,077
)
 
11,544

 
(86,452
)
 
49,414

 
 
 
 
 
 
 
 
 
 
 
Net changes in benefit plan assets and obligations
 
558

 
(226
)
 
1,674

 
(680
)
 
Income tax (expense) benefit
 
(118
)
 
79

 
(352
)
 
238

 
Net of taxes
 
440

 
(147
)
 
1,322

 
(442
)
 
 
 
 
 
 
 
 
 
 
 
Net changes in unrealized foreign currency translation adjustment
 
—

 
—

 
—

 
45

 
Income tax (expense)
 
—

 
—

 
—

 
(14
)
 
Net of taxes
 
—

 
—

 
—

 
31

 
 
 
 
 
 
 
 
 
 
 
Total other comprehensive (loss) income
 
(14,730
)
 
17,535

 
(107,759
)
 
75,387

 
Total income tax benefit (expense)
 
3,093

 
(6,138
)
 
22,629

 
(26,384
)
 
Total other comprehensive (loss) income, net of tax
 
$
(11,637
)
 
$
11,397

 
$
(85,130
)
 
$
49,003
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 nine months ended September 30, 2018 and 2017 are included in table 9.2 below.
 
Table
9.2
 
 
 
 
 
 
 
 
Reclassifications from AOCL
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In thousands)
 
2018
 
2017
 
2018
 
2017
 
Reclassification adjustment for net realized (losses) (1)
 
$
(2,567
)
 
$
(427
)
 
$
(6,279
)
 
$
(2,566
)
 
Income tax benefit
 
539

 
150

 
1,318

 
898

 
Net of taxes
 
(2,028
)
 
(277
)
 
(4,961
)
 
(1,668
)
 
 
 
 
 
 
 
 
 
 
 
Reclassification adjustment related to benefit plan assets and obligations (2)
 
(558
)
 
226

 
(1,674
)
 
680

 
Income tax benefit (expense)
 
118

 
(79
)
 
352

 
(238
)
 
Net of taxes
 
(440
)
 
147

 
(1,322
)
 
442

 
 
 
 
 
 
 
 
 
 
 
Total reclassifications
 
(3,125
)
 
(201
)
 
(7,953
)
 
(1,886
)
 
Total income tax benefit
 
657

 
71

 
1,670

 
660

 
Total reclassifications, net of tax
 
$
(2,468
)
 
$
(130
)
 
$
(6,283
)
 
$
(1,226
)

(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 nine months ended September 30, 2018, including amounts reclassified from AOCL, are included in table 9.3 below.
 
Table
9.3
 
 
 
 
 
 
Rollforward of AOCL
 
 
 
Nine Months Ended September 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
 
(91,413
)
 
—

 
(91,413
)
 
Less: Amounts reclassified from AOCL
 
(4,961
)
 
(1,322
)
 
(6,283
)
 
Balance, September 30, 2018, net of tax
$
(57,195
)
 
$
(71,736
)
 
$
(128,931
)