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Reclassifications from Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Reclassifications from Accumulated Other Comprehensive Income

Reclassifications from Accumulated Other Comprehensive Income

The following table sets out the components of the Company’s AOCI that are reclassified into the condensed consolidated statement of operations for the twelve months ended December 31, 2023, 2022 and 2021:

						Amount Reclassified from AOCI
Details about the AOCI Components						Twelve Months Ended December 31, 2023						Twelve Months Ended December 31, 2022						Twelve Months Ended December 31, 2021						Affected Line Item in the  Consolidated Statement of Operations
						($ in millions)
Available for sale:
Realized (gains) on sale of securities						$	(2.2)					$	(3.9)					$	(24.8)					Realized and unrealized investment gains
Realized losses on sale of securities						42.4						58.9						4.4						Realized and unrealized investment losses
						40.2						55.0						(20.4)						Income from operations before income tax
Tax on net realized gains of securities						(6.6)						—						—						Income tax (expense)/benefit
						$	33.6					$	55.0					$	(20.4)					Net income
Realized derivatives:
Net realized gains on settled derivatives						(8.1)						15.4						(6.2)						General, administrative and corporate expenses
Tax on settled derivatives						—						—						—						Income tax (expense)/benefit
						$	(8.1)					$	15.4					$	(6.2)					Net income
Total reclassifications from AOCI to the statement of operations, net of income tax						$	25.5					$	70.4					$	(26.6)					Net income

Reclassifications from Accumulated Other Comprehensive (Loss)

The following tables set out the components of the Company’s accumulated other comprehensive (loss) (“AOCI”) that are reclassified into the consolidated statement of operations for the three and nine months ended September 30, 2024 and 2023:

						Amount Reclassified from AOCI
Details about the AOCI Components						Three Months Ended September 30, 2024						Three Months Ended September 30, 2023						Affected Line Item in the  Consolidated Statement of Operations
						($ in millions)
Available for sale:
Realized (gains) on sale of securities						$	(1.5)					$	(0.1)					Realized and unrealized investment gains
Realized losses on sale of securities						10.9						8.7						Realized and unrealized investment losses
						9.4						8.6						Income from operations before income taxes
Tax on net realized losses on sale of securities						(1.5)						(2.3)						Income tax (expense)
						$	7.9					$	6.3					Net income
Realized derivatives:
Net realized losses on settled derivatives						$	0.3					$	2.4					General, administrative and corporate expenses
Tax on settled derivatives						—						—						Income tax (expense)
						$	0.3					$	2.4					Net income
Total reclassifications from AOCI to the statement of operations, net of income tax						$	8.2					$	8.7					Net income

						Amount Reclassified from AOCI
Details about the AOCI Components						Nine Months Ended September 30, 2024						Nine Months Ended September 30, 2023						Affected Line Item in the  Consolidated Statement of Operations
						($ in millions)
Available for sale:
Realized (gains) on sale of securities						$	(2.1)					$	(0.5)					Realized and unrealized investment gains
Realized losses on sale of securities						37.5						15.9						Realized and unrealized investment losses
						35.4						15.4						Income from operations before income taxes
Tax on net realized losses on sale of securities						(4.5)						(2.3)						Income tax (expense)
						$	30.9					$	13.1					Net income
Realized derivatives:
Net realized losses on settled derivatives						$	0.3					$	6.1					General, administrative and corporate expenses
Tax on settled derivatives						—						—						Income tax (expense)
						$	0.3					$	6.1					Net income
Total reclassifications from AOCI to the statement of operations, net of income tax						$	31.2					$	19.2					Net income

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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//1943274/2147483586/944-220-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//1943274/2147483589/942-220-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

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X

- References

No definition available.

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