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Other Comprehensive Income (Tables)
 6 Months Ended
Jun. 30, 2019
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, 2019 and 2018 are included in table 9.1 below.
Components of other comprehensive income (loss)
 
 
 
 
Table
9.1
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In thousands)
 
2019
 
2018
 
2019
 
2018
Net unrealized investment gains (losses) arising during the period
 
$
89,562

 
$
(12,558
)
 
$
192,183

 
$
(94,145
)
Income tax (expense) benefit
 
(18,808
)
 
2,636

 
(40,358
)
 
19,770

Net of taxes
 
70,754

 
(9,922
)
 
151,825

 
(74,375
)
 
 
 
 
 
 
 
 
 
Net changes in benefit plan assets and obligations
 
1,961

 
491

 
4,050

 
1,116

Income tax expense
 
(412
)
 
(103
)
 
(851
)
 
(234
)
Net of taxes
 
1,549

 
388

 
3,199

 
882

 
 
 
 
 
 
 
 
 
Total other comprehensive income (loss)
 
91,523

 
(12,067
)
 
196,233

 
(93,029
)
Total income tax (expense) benefit
 
(19,220
)
 
2,533

 
(41,209
)
 
19,536

Total other comprehensive income (loss), net of tax
 
$
72,303

 
$
(9,534
)
 
$
155,024

 
$
(73,493
)
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 income (loss) (“AOCI”) to our consolidated statements of operations for the three and six months ended June 30, 2019 and 2018 are included in table 9.2 below.
Reclassifications from AOCI
 
 
 
 
Table
9.2
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In thousands)
 
2019
 
2018
 
2019
 
2018
Reclassification adjustment for net realized gains (losses) (1)
 
$
1,701

 
$
(3,621
)
 
$
(978
)
 
$
(3,712
)
Income tax (expense) benefit
 
(357
)
 
760

 
206

 
779

Net of taxes
 
1,344

 
(2,861
)
 
(772
)
 
(2,933
)
 
 
 
 
 
 
 
 
 
Reclassification adjustment related to benefit plan assets and obligations (2)
 
(1,961
)
 
(491
)
 
(4,050
)
 
(1,116
)
Income tax benefit
 
412

 
103

 
851

 
234

Net of taxes
 
(1,549
)
 
(388
)
 
(3,199
)
 
(882
)
 
 
 
 
 
 
 
 
 
Total reclassifications
 
(260
)
 
(4,112
)
 
(5,028
)
 
(4,828
)
Total income tax benefit
 
55

 
863

 
1,057

 
1,013

Total reclassifications, net of tax
 
$
(205
)
 
$
(3,249
)
 
$
(3,971
)
 
$
(3,815
)

(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 AOCI for the six months ended June 30, 2019, including amounts reclassified from AOCI, are included in table 9.3 below.
Rollforward of AOCI
Table
9.3
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2019
(In thousands)
 
Net unrealized gains and (losses) on available-for-sale securities
 
Net benefit plan assets and (obligations) recognized in shareholders' equity
 
Total accumulated other comprehensive income (loss)
Balance, December 31, 2018, net of tax
 
$
(35,389
)
 
$
(88,825
)
 
$
(124,214
)
Other comprehensive income before reclassifications
 
151,053

 
—

 
151,053

Less: Amounts reclassified from AOCI
 
(772
)
 
(3,199
)
 
(3,971
)
Balance, June 30, 2019, net of tax
 
$
116,436

 
$
(85,626
)
 
$
30,810