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Accumulated Other Comprehensive Income
 9 Months Ended
Sep. 30, 2014
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income
The balance of and changes in each component of accumulated other comprehensive income (loss) (“AOCI”) for the nine months ended September 30, 2014 and 2013 are as follows (dollars in thousands):
 
 
 
Accumulated Other Comprehensive Income (Loss), Net of Income Tax
 
 
Accumulated
Currency
Translation
Adjustments
 
Unrealized
Appreciation
(Depreciation)
of Investments(1)
 
Pension and
Postretirement
Benefits
 
Total
Balance, December 31, 2013
 
$
207,083

 
$
820,245

 
$
(21,721
)
 
$
1,005,607

Other comprehensive income (loss) before reclassifications
 
(75,147
)
 
591,373

 
(277
)
 
515,949

Amounts reclassified to (from) AOCI
 
—

 
(23,661
)
 
1,712

 
(21,949
)
Net current-period other comprehensive income (loss)
 
(75,147
)
 
567,712

 
1,435

 
494,000

Balance, September 30, 2014
 
$
131,936

 
$
1,387,957

 
$
(20,286
)
 
$
1,499,607

 
 
 
Accumulated Other Comprehensive Income (Loss), Net of Income Tax
 
 
Accumulated
Currency
Translation
Adjustments
 
Unrealized
Appreciation
(Depreciation)
of Investments(1)
 
Pension and
Postretirement
Benefits
 
Total
Balance, December 31, 2012
 
$
267,475

 
$
1,877,657

 
$
(36,230
)
 
$
2,108,902

Other comprehensive income (loss) before reclassifications
 
(75,798
)
 
(936,847
)
 
(82
)
 
(1,012,727
)
Amounts reclassified to (from) AOCI
 
—

 
1,527

 
2,299

 
3,826

Net current-period other comprehensive income (loss)
 
(75,798
)
 
(935,320
)
 
2,217

 
(1,008,901
)
Balance, September 30, 2013
 
$
191,677

 
$
942,337

 
$
(34,013
)
 
$
1,100,001

 
(1)
Includes cash flow hedges. See Note 5 - “Derivative Instruments” for additional information on cash flow hedges.
The following table presents the amounts of AOCI reclassifications for the three and nine months ended September 30, 2014 and 2013 (dollars in thousands):
 
 
Amount Reclassified from AOCI
 
 
 
 
Three months ended September 30,
 
 
Nine months ended September 30,
 
 
Details about AOCI Components
 
2014
 
2013
 
 
2014
 
2013
 
Affected Line Item in Statement of Income         
Unrealized gains and losses on available-for-sale securities
 
$
2,218

 
$
(12,736
)
 
 
$
30,549

 
$
11,122

 
Investment related gains (losses), net
Gains and losses on cash flow hedge - interest rate swap
 
393

 
291

 
 
932

 
796

 
Investment income
Deferred policy acquisition costs attributed to unrealized gains and losses(1)
 
(4,237
)
 
(602
)
 
 
4,554

 
(15,433
)
 
 
Total
 
(1,626
)
 
(13,047
)
 
 
36,035

 
(3,515
)
 
 
Provision for income taxes
 
588

 
5,009

 
 
(12,374
)
 
1,988

 
 
Net unrealized gains (losses), net of tax
 
$
(1,038
)
 
$
(8,038
)
 
 
$
23,661

 
$
(1,527
)
 
 
Amortization of unrealized pension and postretirement benefits:
 
 
 
 
 
 
 
 
 
 
 
Prior service cost(2)
 
$
(214
)
 
$
(152
)
 
 
$
(432
)
 
$
(459
)
 
 
Actuarial gains/(losses)(2)
 
(850
)
 
(1,087
)
 
 
(2,202
)
 
(3,078
)
 
 
Total
 
(1,064
)
 
(1,239
)
 
 
(2,634
)
 
(3,537
)
 
 
Provision for income taxes
 
372

 
434

 
 
922

 
1,238

 
 
Amortization of unrealized pension and postretirement benefits, net of tax
 
$
(692
)
 
$
(805
)
 
 
$
(1,712
)
 
$
(2,299
)
 
 
 
 
 
 
 
 
 


 
 
 
 
Total reclassifications, net of tax
 
$
(1,730
)
 
$
(8,843
)
 
 
$
21,949

 
$
(3,826
)
 
 

(1)
This AOCI component is included in the computation of the deferred policy acquisition cost. See Note 8 – “Deferred Policy Acquisition Costs” of the 2013 Annual Report for additional details.
(2)
These AOCI components are included in the computation of the net periodic pension cost. See Note 10 – “Employee Benefit Plans” for additional details