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OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 9 Months Ended
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Sep. 30, 2023
Other Comprehensive Income (Loss), Tax [Abstract] |
Components of Comprehensive Income (Loss) in the Consolidated Statements of Operations | The following tables present the components of comprehensive income (loss) in the consolidated statements of operations for the periods indicated:
| Three Months Ended September 30, 2023 |  | Nine Months Ended September 30, 2023
(Dollars in millions) | Before Tax |  | Tax Effect |  | Net of Tax |  | Before Tax |  | Tax Effect |  | Net of Tax
URA(D) on securities - non-credit related | $ | (281) |  |  | $ | 24 |  |  | $ | (257) |  |  | $ | (206) |  |  | $ | 26 |  |  | $ | (180) |
Reclassification of net realized losses (gains) included |  |  |  |  |  |  |  |  |  |  |
in net income (loss) | 17 |  |  | (2) |  |  | 15 |  |  | 26 |  |  | (6) |  |  | 21 |
Foreign currency translation adjustments | (50) |  |  | 3 |  |  | (47) |  |  | (19) |  |  | 2 |  |  | (17) |
Reclassification of benefit plan liability amortization included |  |  |  |  |  |  |  |  |  |  |
in net income (loss) | 1 |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | 1 |
Total other comprehensive income (loss) | $ | (313) |  |  | $ | 25 |  |  | $ | (288) |  |  | $ | (197) |  |  | $ | 22 |  |  | $ | (175) |
(Some amounts may not reconcile due to rounding)
| Three Months Ended September 30, 2022 |  | Nine Months Ended September 30, 2022
(Dollars in millions) | Before Tax |  | Tax Effect |  | Net of Tax |  | Before Tax |  | Tax Effect |  | Net of Tax
URA(D) on securities - non-credit related | $ | (776) |  |  | $ | 64 |  |  | $ | (712) |  |  | $ | (2,557) |  |  | $ | 297 |  |  | $ | (2,260) |
Reclassification of net realized losses (gains) included |  |  |  |  |  |  |  |  |  |  |
in net income (loss) | 51 |  |  | (10) |  |  | 41 |  |  | 73 |  |  | (12) |  |  | 61 |
Foreign currency translation adjustments | (109) |  |  | 8 |  |  | (101) |  |  | (174) |  |  | 11 |  |  | (163) |
Reclassification of benefit plan liability amortization included |  |  |  |  |  |  |  |  |  |  |
in net income (loss) | 2 |  |  | (1) |  |  | 1 |  |  | 3 |  |  | (1) |  |  | 2 |
Total other comprehensive income (loss) | $ | (832) |  |  | $ | 61 |  |  | $ | (771) |  |  | $ | (2,655) |  |  | $ | 295 |  |  | $ | (2,360) |
(Some amounts may not reconcile due to rounding)
Reclassification from Accumulated Other Comprehensive Income | The following table presents details of the amounts reclassified from AOCI for the periods indicated:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |  | Affected line item within the statements of operations and comprehensive income (loss)
AOCI component |  | 2023 |  | 2022 |  | 2023 |  | 2022 |
(Dollars in millions) |  |  |  |  |  |  |  |  |  |
URA(D) on securities |  | $ | 17 |  |  | $ | 51 |  |  | $ | 26 |  |  | $ | 73 |  |  | Other net realized capital gains (losses)
|  | (2) |  |  | (10) |  |  | (6) |  |  | (12) |  |  | Income tax expense (benefit)
|  | $ | 15 |  |  | $ | 41 |  |  | $ | 21 |  |  | $ | 61 |  |  | Net income (loss)
Benefit plan net gain (loss) |  | $ | 1 |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | 3 |  |  | Other underwriting expenses
|  | — |  |  | (1) |  |  | — |  |  | (1) |  |  | Income tax expense (benefit)
|  | $ | — |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 2 |  |  | Net income (loss)
(Some amounts may not reconcile due to rounding)
Components of Accumulated Other Comprehensive Income (Loss), Net of Tax, in the Consolidated Balance Sheets | 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 September 30, |  | Nine Months Ended September 30,
(Dollars in millions) | 2023 |  | 2022 |  | 2023 |  | 2022
Beginning balance of URA(D) on securities | $ | (1,627) |  |  | $ | (1,288) |  |  | $ | (1,709) |  |  | $ | 239 |
Current period change in URA(D) of investments - non-credit related | (242) |  |  | (671) |  |  | (159) |  |  | (2,199) |
Ending balance of URA(D) on securities | (1,868) |  |  | (1,959) |  |  | (1,868) |  |  | (1,959) |
Beginning balance of foreign currency translation adjustments | (224) |  |  | (240) |  |  | (254) |  |  | (177) |
Current period change in foreign currency translation adjustments | (47) |  |  | (101) |  |  | (17) |  |  | (163) |
Ending balance of foreign currency translation adjustments | (271) |  |  | (341) |  |  | (271) |  |  | (341) |
Beginning balance of benefit plan net gain (loss) | (32) |  |  | (49) |  |  | (33) |  |  | (50) |
Current period change in benefit plan net gain (loss) | — |  |  | 1 |  |  | 1 |  |  | 2 |
Ending balance of benefit plan net gain (loss) | (32) |  |  | (48) |  |  | (32) |  |  | (48) |
Ending balance of accumulated other comprehensive income (loss) | $ | (2,171) |  |  | $ | (2,348) |  |  | $ | (2,171) |  |  | $ | (2,348) |
(Some amounts may not reconcile due to rounding.)

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- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 1 -Section 45 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1 + Details
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