Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2023

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following tables show the rollforward of accumulated other comprehensive income (loss) as of the periods indicated.

Rollforward of accumulated other comprehensive income (loss)
	Three Months Ended September 30, 2023						Nine Months Ended September 30, 2023
(In thousands)	Before Tax		Tax Effect		Net of Tax		Before Tax		Tax Effect		Net of Tax
Balance at beginning of period	$	(536,312)	$	(112,626)	$	(423,686)	$	(578,228)	$	(121,429)	$	(456,799)
Other comprehensive income (loss)
Unrealized holding gains (losses) on investments arising during the period for which an allowance for expected credit losses has not been recognized	(126,080)		(26,477)		(99,603)		(94,777)		(19,903)		(74,874)
Less: Reclassification adjustment for net gains (losses) on investments included in net income (1)
Net realized gains (losses) on disposals and non-credit related impairment losses	(2,794)		(587)		(2,207)		(13,180)		(2,768)		(10,412)
Net unrealized gains (losses) on investments	(123,286)		(25,890)		(97,396)		(81,597)		(17,135)		(64,462)
Other adjustments to comprehensive income (loss), net	—		—		—		227		48		179
Other comprehensive income (loss)	(123,286)		(25,890)		(97,396)		(81,370)		(17,087)		(64,283)
Balance at end of period	$	(659,598)	$	(138,516)	$	(521,082)	$	(659,598)	$	(138,516)	$	(521,082)
	Three Months Ended September 30, 2022						Nine Months Ended September 30, 2022
(In thousands)	Before Tax		Tax Effect		Net of Tax		Before Tax		Tax Effect		Net of Tax
Balance at beginning of period	$	(416,589)	$	(87,484)	$	(329,105)	$	152,016	$	31,923	$	120,093
Other comprehensive income (loss)
Unrealized holding gains (losses) on investments arising during the period for which an allowance for expected credit losses has not been recognized	(223,279)		(46,888)		(176,391)		(797,908)		(167,560)		(630,348)
Less: Reclassification adjustment for net gains (losses) on investments included in net income (1)
Net realized gains (losses) on disposals and non-credit related impairment losses	(4,153)		(872)		(3,281)		(10,071)		(2,115)		(7,956)
Net unrealized gains (losses) on investments	(219,126)		(46,016)		(173,110)		(787,837)		(165,445)		(622,392)
Other adjustments to comprehensive income, net	—		—		—		106		22		84
Other comprehensive income (loss)	(219,126)		(46,016)		(173,110)		(787,731)		(165,423)		(622,308)
Balance at end of period	$	(635,715)	$	(133,500)	$	(502,215)	$	(635,715)	$	(133,500)	$	(502,215)

(1)Included in net gains (losses) on investments and other financial instruments on our condensed consolidated statements of operations.