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Other Comprehensive Income (Tables) | 9 Months Ended
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Sep. 30, 2016
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] |
Other comprehensive income | The pretax and related income tax (expense) benefit components of our other comprehensive income (loss) for the three and nine months ended September 30, 2016 and 2015 are included in the following table.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) |  | 2016 |  | 2015 |  | 2016 |  | 2015
Net unrealized holding (losses) gains arising during the period |  | $ | (22,206 | ) |  | $ | 27,271 |  |  | $ | 142,852 |  |  | $ | (17,126 | )
Income tax benefit (expense) |  | 7,772 |  |  | (9,531 | ) |  | (50,121 | ) |  | 5,955 |
Valuation allowance (1) |  | — |  |  | 77,555 |  |  | — |  |  | 62,383 |
Net of taxes |  | (14,434 | ) |  | 95,295 |  |  | 92,731 |  |  | 51,212 |
Net changes in benefit plan assets and obligations |  | (370 | ) |  | (546 | ) |  | (1,110 | ) |  | (1,638 | )
Income tax benefit |  | 129 |  |  | 192 |  |  | 388 |  |  | 574 |
Valuation allowance (1) |  | — |  |  | (7,001 | ) |  | — |  |  | (7,383 | )
Net of taxes |  | (241 | ) |  | (7,355 | ) |  | (722 | ) |  | (8,447 | )
Net changes in unrealized foreign currency translation adjustment |  | (16 | ) |  | (3,724 | ) |  | (1,496 | ) |  | (6,228 | )
Income tax benefit |  | 6 |  |  | 1,306 |  |  | 522 |  |  | 2,186 |
Valuation allowance (1) |  | — |  |  | (529 | ) |  | — |  |  | (529 | )
Net of taxes |  | (10 | ) |  | (2,947 | ) |  | (974 | ) |  | (4,571 | )
Total other comprehensive (loss) income |  | (22,592 | ) |  | 23,001 |  |  | 140,246 |  |  | (24,992 | )
Total income tax benefit (expense), net of valuation allowance |  | 7,907 |  |  | 61,992 |  |  | (49,211 | ) |  | 63,186 |
Total other comprehensive (loss) income, net of tax |  | $ | (14,685 | ) |  | $ | 84,993 |  |  | $ | 91,035 |  |  | $ | 38,194 |
(1) | See Note 11 – “Income Taxes” for a discussion of the valuation allowance recorded against deferred tax assets.
Reclassification out of accumulated other comprehensive income | The pretax and related income tax (expense) benefit components of the amounts reclassified from our accumulated other comprehensive loss to our consolidated statements of operations for the three and nine months ended September 30, 2016 and 2015 are included in the following table.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) |  | 2016 |  | 2015 |  | 2016 |  | 2015
Reclassification adjustment for net realized gains (losses) (1) |  | $ | 5,248 |  |  | $ | (1,120 | ) |  | $ | 5,958 |  |  | $ | 10,591 |
Income tax (expense) benefit |  | (1,837 | ) |  | 395 |  |  | (1,963 | ) |  | (3,697 | )
Valuation allowance (2) |  | — |  |  | (413 | ) |  | — |  |  | 3,635 |
Net of taxes |  | 3,411 |  |  | (1,138 | ) |  | 3,995 |  |  | 10,529 |
Reclassification adjustment related to benefit plan assets and obligations (3) |  | 370 |  |  | 546 |  |  | 1,110 |  |  | 1,638 |
Income tax expense |  | (129 | ) |  | (192 | ) |  | (388 | ) |  | (574 | )
Valuation allowance (2) |  | — |  |  | 192 |  |  | — |  |  | 574 |
Net of taxes |  | 241 |  |  | 546 |  |  | 722 |  |  | 1,638 |
Reclassification adjustment related to foreign currency (4) |  | — |  |  | — |  |  | 1,467 |  |  | — |
Income tax expense |  | — |  |  | — |  |  | (513 | ) |  | — |
Net of taxes |  | — |  |  | — |  |  | 954 |  |  | — |
Total reclassifications |  | 5,618 |  |  | (574 | ) |  | 8,535 |  |  | 12,229 |
Total income tax expense, net of valuation allowance |  | (1,966 | ) |  | (18 | ) |  | (2,864 | ) |  | (62 | )
Total reclassifications, net of tax |  | $ | 3,652 |  |  | $ | (592 | ) |  | $ | 5,671 |  |  | $ | 12,167 |
(1) | Increases (decreases) Net realized investment gains on the consolidated statements of operations.
(2) | See Note 11 – “Income Taxes” for a discussion of the valuation allowance recorded against deferred tax assets.
(3) | Decreases (increases) Other underwriting and operating expenses, net on the consolidated statements of operations.
(4) | Increases (decreases) Other revenue on the consolidated statements of operations.
Accumulated other comprehensive income (loss) | Changes in our accumulated other comprehensive income (loss), including amounts reclassified from other comprehensive income (loss), for the nine months ended September 30, 2016 are included in the table below.
|  | Nine Months Ended September 30, 2016
(In thousands) |  | Net unrealized gains and losses on available-for-sale securities |  | Net benefit plan assets and obligations recognized in shareholders' equity |  | Net unrealized foreign currency translation |  | Total accumulated other comprehensive income (loss)
Balance at December 31, 2015, net of tax |  | $ | (17,148 | ) |  | $ | (44,652 | ) |  | $ | 920 |  |  | $ | (60,880 | )
Other comprehensive income (loss) before reclassifications |  | 96,726 |  |  | — |  |  | (20 | ) |  | 96,706 |
Less: Amounts reclassified from accumulated other comprehensive income (loss) |  | 3,995 |  |  | 722 |  |  | 954 |  |  | 5,671 |
Balance at September 30, 2016, net of tax |  | $ | 75,583 |  |  | $ | (45,374 | ) |  | $ | (54 | ) |  | $ | 30,155 |

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e526-108580 + Details
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