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Accumulated Other Comprehensive Income
 3 Months Ended
Mar. 31, 2015
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income
The balance of and changes in each component of accumulated other comprehensive income (loss) (“AOCI”) for the three months ended March 31, 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
 
(103,285
)
 
494,294

 
617

 
391,626

Deferred income tax benefit (expense)
 
(14,486
)
 
(142,978
)
 
(175
)
 
(157,639
)
Other comprehensive income (loss) before reclassifications, net of income tax
 
(117,771
)
 
351,316

 
442

 
233,987

Amounts reclassified to (from) AOCI
 
—

 
(8,252
)
 
787

 
(7,465
)
Deferred income tax benefit (expense)
 
—

 
860

 
(275
)
 
585

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

 
(7,392
)
 
512

 
(6,880
)
Balance, March 31, 2015
 
$
(35,924
)
 
$
1,968,697

 
$
(48,537
)
 
$
1,884,236

 
 
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
 
(45,428
)
 
469,975

 
225

 
424,772

Deferred income tax benefit (expense)
 
2,745

 
(150,217
)
 
(64
)
 
(147,536
)
Other comprehensive income (loss) before reclassifications, net of income tax
 
(42,683
)
 
319,758

 
161

 
277,236

Amounts reclassified to (from) AOCI
 
—

 
(5,828
)
 
892

 
(4,936
)
Deferred income tax benefit (expense)
 
—

 
1,904

 
(312
)
 
1,592

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

 
(3,924
)
 
580

 
(3,344
)
Balance, March 31, 2014
 
$
164,400

 
$
1,136,079

 
$
(20,980
)
 
$
1,279,499

(1)
Includes cash flow hedges. See Note 5 - “Derivative Instruments” for additional information on cash flow hedges.
The following table presents the amounts of AOCI reclassifications for the three months ended March 31, 2015 and 2014 (dollars in thousands):
 
 
Amount Reclassified from AOCI
 
 
 
 
Three months ended March 31,
 
 
Details about AOCI Components
 
2015
 
2014
 
Affected Line Item in 
Statement of Income         
Unrealized gains and losses on available-for-sale securities
 
$
3,079

 
$
1,189

 
Investment related gains (losses), net
Gains and losses on cash flow hedge - interest rate swap
 
840

 
218

 
Investment income
Deferred policy acquisition costs attributed to unrealized gains and losses(1)
 
4,333

 
4,421

 
 
Total
 
8,252

 
5,828

 
 
Provision for income taxes
 
(860
)
 
(1,904
)
 
 
Net unrealized gains (losses), net of tax
 
$
7,392

 
$
3,924

 
 
Amortization of unrealized pension and postretirement benefits:
 
 
 
 
 
 
Prior service cost(2)
 
$
(83
)
 
$
(2
)
 
 
Actuarial gains/(losses)(2)
 
(704
)
 
(890
)
 
 
Total
 
(787
)
 
(892
)
 
 
Provision for income taxes
 
275

 
312

 
 
Amortization of unrealized pension and postretirement benefits, net of tax
 
$
(512
)
 
$
(580
)
 
 
 
 
 
 
 
 
 
Total reclassifications, net of tax
 
$
6,880

 
$
3,344

 
 
(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