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Accumulated Other Comprehensive Income (Tables)
 6 Months Ended
Jun. 30, 2015
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Components of Accumulated Other Comprehensive Income
The balance of and changes in each component of accumulated other comprehensive income (loss) (“AOCI”) for the six months ended June 30, 2015 and 2014 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, 2014
 
$
81,847

 
$
1,624,773

 
$
(49,491
)
 
$
1,657,129

Other comprehensive income (loss) before reclassifications
 
(89,220
)
 
(612,314
)
 
733

 
(700,801
)
Deferred income tax benefit (expense)
 
(6,616
)
 
204,252

 
(222
)
 
197,414

Other comprehensive income (loss) before reclassifications, net of income tax
 
(95,836
)
 
(408,062
)
 
511

 
(503,387
)
Amounts reclassified to (from) AOCI
 
—

 
(6,192
)
 
1,965

 
(4,227
)
Deferred income tax benefit (expense)
 
—

 
537

 
(688
)
 
(151
)
Amounts reclassified to (from) AOCI, net of income tax
 
—

 
(5,655
)
 
1,277

 
(4,378
)
Balance, June 30, 2015
 
$
(13,989
)
 
$
1,211,056

 
$
(47,703
)
 
$
1,149,364

 
 
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
 
(9,162
)
 
949,650

 
(257
)
 
940,231

Deferred income tax benefit (expense)
 
9,122

 
(302,873
)
 
251

 
(293,500
)
Other comprehensive income (loss) before reclassifications, net of income tax
 
(40
)
 
646,777

 
(6
)
 
646,731

Amounts reclassified to (from) AOCI
 
—

 
(37,661
)
 
1,570

 
(36,091
)
Deferred income tax benefit (expense)
 
—

 
12,963

 
(550
)
 
12,413

Amounts reclassified to (from) AOCI, net of income tax
 
—

 
(24,698
)
 
1,020

 
(23,678
)
Balance, June 30, 2014
 
$
207,043

 
$
1,442,324

 
$
(20,707
)
 
$
1,628,660

(1)
Includes cash flow hedges. See Note 5 - “Derivative Instruments” for additional information on cash flow hedges.
Reclassification Out Of Accumulated Other Comprehensive Income
The following table presents the amounts of AOCI reclassifications for the three and six months ended June 30, 2015 and 2014 (dollars in thousands):
 
 
Amount Reclassified from AOCI
 
 
 
 
Three months ended June 30,
 
 
Six months ended June 30,
 
 
Details about AOCI Components
 
2015
 
2014
 
 
2015
 
2014
 
Affected Line Item in 
Statement of Income         
Unrealized gains and losses on available-for-sale securities
 
$
1,829

 
$
27,142

 
 
$
4,908

 
$
28,331

 
Investment related gains (losses), net
Gains and losses on cash flow hedges
 
543

 
321

 
 
603

 
539

 
Investment income
Gains and losses on cash flow hedges
 
1,495

 
—

 
 
655

 
—

 
Investment related gains (losses), net
Deferred policy acquisition costs attributed to unrealized gains and losses(1)
 
(4,307
)
 
4,370

 
 
26

 
8,791

 
 
Total
 
(440
)
 
31,833

 
 
6,192

 
37,661

 
 
Provision for income taxes
 
(245
)
 
(11,059
)
 
 
(537
)
 
(12,963
)
 
 
Net unrealized gains (losses), net of tax
 
$
(685
)
 
$
20,774

 
 
$
5,655

 
$
24,698

 
 
Amortization of unrealized pension and postretirement benefits:
 
 
 
 
 
 
 
 
 
 
 
Prior service cost(2)
 
$
(80
)
 
$
(216
)
 
 
$
(163
)
 
$
(218
)
 
 
Actuarial gains/(losses)(2)
 
(1,098
)
 
(462
)
 
 
(1,802
)
 
(1,352
)
 
 
Total
 
(1,178
)
 
(678
)
 
 
(1,965
)
 
(1,570
)
 
 
Provision for income taxes
 
413

 
238

 
 
688

 
550

 
 
Amortization of unrealized pension and postretirement benefits, net of tax
 
$
(765
)
 
$
(440
)
 
 
$
(1,277
)
 
$
(1,020
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total reclassifications, net of tax
 
$
(1,450
)
 
$
20,334

 
 
$
4,378

 
$
23,678

 
 
(1)
This AOCI component is included in the computation of the deferred policy acquisition cost. See Note 8 – “Deferred Policy Acquisition Costs” of the 2014 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.