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Other Comprehensive Income | 9 Months Ended
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Sep. 30, 2024
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] |
Other Comprehensive Income | Other Comprehensive Income The pretax and related income tax benefit (expense) components of our other comprehensive income (loss) for the three and nine months ended September 30, 2024 and 2023 are included in table 9.1 below.
Components of other comprehensive income (loss) |  |  |  |
Table | 9.1 |  |  |  |  |  |  |  |
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Net unrealized investment gains (losses) arising during the period |  | $ | 162,601 |  |  | $ | (95,216) |  |  | $ | 140,005 |  |  | $ | (31,387) |
Total income tax benefit (expense) |  | (34,146) |  |  | 19,995 |  |  | (29,401) |  |  | 6,591 |
Net of tax |  | 128,455 |  |  | (75,221) |  |  | 110,604 |  |  | (24,796) |
Net changes in benefit plan assets and obligations |  | 682 |  |  | 4,067 |  |  | 2,045 |  |  | 11,914 |
Total income tax benefit (expense) |  | (143) |  |  | (854) |  |  | (429) |  |  | (2,502) |
Net of tax |  | 539 |  |  | 3,213 |  |  | 1,616 |  |  | 9,412 |
Total other comprehensive income (loss) |  | $ | 163,283 |  |  | (91,149) |  |  | 142,050 |  |  | (19,473) |
Total income tax benefit (expense) |  | (34,289) |  |  | 19,141 |  |  | (29,830) |  |  | 4,089 |
Total other comprehensive income (loss), net of tax |  | $ | 128,994 |  |  | $ | (72,008) |  |  | $ | 112,220 |  |  | $ | (15,384) |
The pretax and related income tax benefit (expense) components of the amounts reclassified from our accumulated other comprehensive income (loss) (“AOCI”) to our consolidated statements of operations for the three and nine months ended September 30, 2024 and 2023 are included in table 9.2 below.
Reclassifications from AOCI |  |  |  |
Table | 9.2 |  |  |  |  |  |  |  |
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Reclassification adjustment for net realized (losses) gains (1) |  | $ | (2,368) |  |  | $ | (3,085) |  |  | $ | (14,402) |  |  | $ | (13,020) |
Income tax benefit (expense) |  | 497 |  |  | 648 |  |  | 3,024 |  |  | 2,734 |
Net of tax |  | (1,871) |  |  | (2,437) |  |  | (11,378) |  |  | (10,286) |
Reclassification adjustment related to benefit plan assets and obligations (2) |  | (682) |  |  | (2,376) |  |  | (2,045) |  |  | (12,379) |
Income tax benefit (expense) |  | 143 |  |  | 499 |  |  | 429 |  |  | 2,600 |
Net of tax |  | (539) |  |  | (1,877) |  |  | (1,616) |  |  | (9,779) |
Total reclassifications |  | (3,050) |  |  | (5,461) |  |  | (16,447) |  |  | (25,399) |
Income tax benefit (expense) |  | 640 |  |  | 1,147 |  |  | 3,453 |  |  | 5,334 |
Total reclassifications, net of tax |  | $ | (2,410) |  |  | $ | (4,314) |  |  | $ | (12,994) |  |  | $ | (20,065) |
(1)Increases (decreases) Net realized investment gains (losses) on the consolidated statements of operations. (2)Decreases (increases) Other underwriting and operating expenses, net on the consolidated statements of operations. A rollforward of AOCI for the nine months ended September 30, 2024, including amounts reclassified from AOCI, are included in table 9.3 below.
Rollforward of AOCI
Table | 9.3 |  |  |  |  |  |
|  |  | Nine Months Ended September 30, 2024
(In thousands) |  | Net unrealized gains and (losses) on available-for-sale securities |  | Net benefit plan assets and (obligations) recognized in shareholders' equity |  | Total accumulated other comprehensive income (loss)
Balance at December 31, 2023, net of tax |  | $ | (266,948) |  |  | $ | (49,333) |  |  | $ | (316,281) |
Other comprehensive income (loss) before reclassifications |  | 99,226 |  |  | — |  |  | 99,226 |
Less: Amounts reclassified from AOCI |  | (11,378) |  |  | (1,616) |  |  | (12,994) |
Balance, September 30, 2024, net of tax |  | $ | (156,344) |  |  | $ | (47,717) |  |  | $ | (204,061) |

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/220/tableOfContent + Details
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