Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2013

Other Comprehensive Income (Loss) [Abstract]

Other Comprehensive Income (Loss)

7.  OTHER COMPREHENSIVE INCOME (LOSS)

The following table presents the components of comprehensive income (loss) in the consolidated statements of operations and comprehensive income (loss) for the periods indicated:

	Three Months Ended
	March 31,
(Dollars in thousands)	2013			2012
Net income (loss)	$	285,651		$	214,724
Other comprehensive income (loss), before tax:
Unrealized appreciation (depreciation) ("URA(D)") on securities arising during the period
URA(D) of investments - temporary		(8,528	)		9,884
URA(D) of investments - non-credit OTTI		(97	)		(20	)
URA(D) on securities arising during the period		(8,625	)		9,864
Reclassification adjustment for realized losses (gains) included in net income (loss)		(2,089	)		4,173
Total URA(D) on securities arising during the period		(10,714	)		14,037
Foreign currency translation adjustments		(11,686	)		8,149
Reclassification adjustment for benefit plan amortization included in net income (loss)		2,070			1,513
Total other comprehensive income (loss), before tax		(20,330	)		23,699
Income tax benefit (expense) related to items of other comprehensive income (loss):
Tax benefit (expense) on URA(D) arising during the period
Tax benefit (expense) on URA(D) of investments - temporary		2,985			(3,460	)
Tax benefit (expense) on URA(D) of investments - non-credit OTTI		34			7
Tax benefit (expense) on URA(D) on securities arising during the period		3,019			(3,453	)
Reclassification of tax expense (benefit) on realized losses (gains) included in net income (loss)		731			(1,460	)
Total tax benefit (expense) from URA(D) arising during the period		3,750			(4,913	)
Tax benefit (expense) from foreign currency translation		4,090			(2,852	)
Reclassification of tax expense (benefit) on benefit plan amortization included in net income (loss)		(724	)		(529	)
Total income tax benefit (expense) related to items of other comprehensive income (loss):		7,116			(8,294	)
Other comprehensive income (loss), net of tax		(13,214	)		15,405
Comprehensive income (loss)	$	272,437		$	230,129

The following table presents the components of accumulated other comprehensive income (loss), net of tax, in the consolidated balance sheets for the periods indicated:

	At March 31,			At December 31,
(Dollars in thousands)	2013			2012
Beginning balance of URA (D) on securities	$	157,163		$	147,140
Current period change in URA (D) of investments - temporary		(6,901	)		10,177
Current period change in URA (D) of investments - non-credit OTTI		(63	)		(154	)
Ending balance of URA (D) on securities		150,199			157,163
Beginning balance of foreign currency translation adjustments		90,215			83,185
Current period change in foreign currency translation adjustments		(7,596	)		7,030
Ending balance of foreign currency translation adjustments		82,619			90,215
Beginning balance of benefit plans		(62,511	)		(55,535	)
Current period change in benefit plans		1,346			(6,976	)
Ending balance of benefit plans		(61,165	)		(62,511	)
Ending balance of accumulated other comprehensive income (loss)	$	171,653		$	184,867