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Other Comprehensive Income (Loss) (Tables)
 3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
Changes in Other Comprehensive Income (Loss)

The following tables provide changes in other comprehensive income (loss).

 

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

 

 

 

 

 

 

Tax

 

 

 

 

 

 

 

 

 

 

Tax

 

 

 

 

 

 

 

 

 

 

 

Benefit

 

 

Net of

 

 

 

 

 

 

Benefit

 

 

Net of

 

(in millions)

 

Pre-Tax

 

 

(Expense)

 

 

Tax

 

 

Pre-Tax

 

 

(Expense)

 

 

Tax

 

Changes in net unrealized gains (losses) on investment

   securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net unrealized losses arising during period for

   those having no credit losses in Consolidated

   Statement of Income

 

$

(477.5

)

 

$

100.3

 

 

$

(377.2

)

 

$

(234.1

)

 

$

49.2

 

 

$

(184.9

)

Net unrealized losses arising during period for

   those having credit losses in Consolidated

   Statement of Income

 

 

(1.2

)

 

 

0.2

 

 

 

(1.0

)

 

 

—

 

 

 

—

 

 

 

—

 

Amount of (gains) losses realized from sales and

   other recognized in Consolidated Statement

   of Income

 

 

(3.0

)

 

 

0.6

 

 

 

(2.4

)

 

 

1.6

 

 

 

(2.2

)

 

 

(0.6

)

Amount of credit recoveries recognized in the

   Consolidated Statement of Income

 

 

0.6

 

 

 

(0.1

)

 

 

0.5

 

 

 

—

 

 

 

—

 

 

 

—

 

Amount of additional impairment losses

   recognized in the Consolidated Statement

   of Income

 

 

0.3

 

 

 

(0.1

)

 

 

0.2

 

 

 

—

 

 

 

—

 

 

 

—

 

Net unrealized losses

 

 

(480.8

)

 

 

100.9

 

 

 

(379.9

)

 

 

(232.5

)

 

 

47.0

 

 

 

(185.5

)

Pension and postretirement benefits:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of net actuarial losses

   recognized as net periodic benefit cost

 

 

1.4

 

 

 

(0.3

)

 

 

1.1

 

 

 

0.8

 

 

 

(0.1

)

 

 

0.7

 

Other comprehensive loss

 

$

(479.4

)

 

$

100.6

 

 

$

(378.8

)

 

$

(231.7

)

 

$

46.9

 

 

$

(184.8

)

 

 
Reclassifications Out of Accumulated Other Comprehensive Income

Reclassifications out of accumulated other comprehensive income were as follows:

 

 

 

Three Months Ended

 

 

 

 

 

March 31,

 

 

 

(in millions)

 

2022

 

 

2021

 

 

 

 

 

Amount Reclassified from

 

 

 

Details about Accumulated Other

 

Accumulated Other

 

 

Affected Line Item in the Statement

Comprehensive Income Components

 

Comprehensive Income

 

 

Where Net Income is Presented

Net unrealized gains (losses) on investment securities

 

$

3.0

 

 

$

(1.6

)

 

Net realized gains (losses) from sales and

   other

 

 

 

(0.9

)

 

 

—

 

 

Impairment losses on investments

 

 

 

2.1

 

 

 

(1.6

)

 

Total before tax

 

 

 

(0.4

)

 

 

2.2

 

 

Tax benefit (expense)

 

 

 

1.7

 

 

 

0.6

 

 

Continuing operations; net of tax

Amortization of defined benefit pension

   and postretirement actuarial losses

 

 

(1.4

)

 

 

(0.8

)

 

Loss adjustment expenses and other

   operating expenses (1)

 

 

 

0.3

 

 

 

0.1

 

 

Tax benefit

 

 

 

(1.1

)

 

 

(0.7

)

 

Continuing operations; net of tax

Total reclassifications for the period

 

$

0.6

 

 

$

(0.1

)

 

Benefit (expense) reflected in income, net of tax

 

(1)

The amount reclassified from accumulated other comprehensive income for the pension and postretirement benefits was allocated  approximately 40% to loss adjustment expenses and 60% to other operating expenses for the three months ended March 31, 2022 and 2021.