Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2020

Comprehensive Income (Loss) [Abstract]

Comprehensive Income (Loss)

7. COMPREHENSIVE INCOME (LOSS)

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

	Three Months EndedMarch 31, 2020
(Dollars in thousands)	Before Tax		Tax Effect		Net of Tax
Unrealized appreciation (depreciation) ("URA(D)") on securities - temporary	$	(223,770)		46,246	$	(177,524)
Reclassification of net realized losses (gains) included in net income (loss)		35,364		(7,478)		27,886
Foreign currency translation adjustments		(37,532)		7,899		(29,633)
Reclassification of amortization of net gain (loss) included in net income (loss)		1,165		(245)		920
Total other comprehensive income (loss)	$	(224,773)	$	46,422	$	(178,351)
(Some amounts may not reconcile due to rounding)

	Three Months EndedMarch 31, 2019
(Dollars in thousands)	Before Tax		Tax Effect		Net of Tax
Unrealized appreciation (depreciation) ("URA(D)") on securities - temporary	$	112,441	$	(23,730)	$	88,711
URA(D) on securities - OTTI		(332)		70		(262)
Reclassification of net realized losses (gains) included in net income (loss)		(1,532)		516		(1,016)
Foreign currency translation adjustments		12,110		(2,546)		9,564
Reclassification of amortization of net gain (loss) included in net income (loss)		1,457		(306)		1,151
Total other comprehensive income (loss)	$	124,144	$	(25,996)	$	98,148
(Some amounts may not reconcile due to rounding)

The following table presents details of the amounts reclassified from AOCI for the periods indicated:

	Three Months Ended				Affected line item within the
	March 31,				statements of operations and
AOCI component	2020		2019		comprehensive income (loss)
(Dollars in thousands)
URA(D) on securities	$	35,364	$	(1,532)	Other net realized capital gains (losses)
		(7,478)		516	Income tax expense (benefit)
	$	27,886	$	(1,016)	Net income (loss)
Benefit plan net gain (loss)	$	1,165	$	1,457	Other underwriting expenses
		(245)		(306)	Income tax expense (benefit)
	$	920	$	1,151	Net income (loss)
(Some amounts may not reconcile due to rounding)

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

	Three Months Ended
	March 31,
(Dollars in thousands)	2020		2019
Beginning balance of URA (D) on securities	$	124,612	$	(55,950)
Current period change in URA (D) of investments - temporary		(149,638)		87,695
Current period change in URA (D) of investments - non-credit OTTI		-		(262)
Ending balance of URA (D) on securities		(25,025)		31,483
Beginning balance of foreign currency translation adjustments		14,267		(2,886)
Current period change in foreign currency translation adjustments		(29,633)		9,564
Ending balance of foreign currency translation adjustments		(15,367)		6,678
Beginning balance of benefit plan net gain (loss)		(74,556)		(67,418)
Current period change in benefit plan net gain (loss)		920		1,151
Ending balance of benefit plan net gain (loss)		(73,635)		(66,267)
Ending balance of accumulated other comprehensive income (loss)	$	(114,027)	$	(28,106)