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Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Tables) | 3 Months Ended
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Mar. 31, 2021
Statement of Comprehensive Income [Abstract] |
Schedule of Comprehensive Income | The components of Other Comprehensive Income (Loss) and AOCI for the three months ended March 31, 2021 were:
|  | Changes in Net Unrealized Gains (Losses) on Investment Securities |  |  |  |  |  |
(Dollars in Millions) |  | Having No Credit Losses Recognized in Consolidated Statements of Income |  | Having Credit Losses Recognized in Consolidated Statements of Income |  | Net Unrecognized Postretirement Benefit Costs |  | Gain (Loss) on Cash Flow Hedges |  | Total Accumulated Other Comprehensive Income (Loss)
Balance at Beginning of Period |  | 730.6 |  | $ | (2.1) |  |  | $ | (45.7) |  |  | $ | (2.3) |  |  | $ | 680.5 |
Other Comprehensive Income (Loss) Before Reclassification Adjustment, Net of Tax |  | (281.5) |  |  | (1.7) |  |  | 0.8 |  |  | 0.1 |  |  | (282.3) |
Reclassification Adjustment for Amounts Included in Net Income, Net of Tax |  | (7.7) |  |  | — |  |  | — |  |  | — |  |  | (7.7) |
Other Comprehensive Income (Loss), Net of Tax |  | (289.2) |  |  | (1.7) |  |  | 0.8 |  |  | 0.1 |  |  | (290.0) |
Balance at End of Period |  | $ | 441.4 |  |  | $ | (3.8) |  |  | $ | (44.9) |  |  | $ | (2.2) |  |  | $ | 390.5 |
The pre-tax components of the Other Comprehensive Income (Loss) and the related Income Tax Benefit (Expense) for the three months ended March 31, 2021 and 2020 were:
|  | Three Months Ended |  |
(Dollars in Millions) |  | Mar 31, 2021 |  | Mar 31, 2020 |  |  |  |
Changes in Net Unrealized Gains (Losses) on Investment Securities: |  |  |  |  |  |  |  |
Having No Credit Losses Recognized in Condensed Consolidated Statements of Income |  | $ | (354.2) |  |  | $ | (198.0) |  |  |  |  |
Income Tax Benefit (Expense) |  | 72.7 |  |  | 41.6 |  |  |  |  |
Net of Taxes |  | (281.5) |  |  | (156.4) |  |  |  |  |
Having Credit Losses Recognized in Condensed Consolidated Statements of Income |  | (2.1) |  |  | (2.9) |  |  |  |  |
Income Tax Benefit (Expense) |  | 0.4 |  |  | 0.6 |  |  |  |  |
Net of Taxes |  | (1.7) |  |  | (2.3) |  |  |  |  |
Reclassification Adjustment for Amounts Included in Net Income |  | (9.8) |  |  | (3.9) |  |  |  |  |
Income Tax Benefit (Expense) |  | 2.1 |  |  | 0.8 |  |  |  |  |
Net of Taxes |  | (7.7) |  |  | (3.1) |  |  |  |  |
Changes in Net Unrecognized Postretirement Benefit Costs |  | 0.3 |  |  | 0.7 |  |  |  |  |
Income Tax Benefit (Expense) |  | 0.5 |  |  | (0.2) |  |  |  |  |
Net of Taxes |  | 0.8 |  |  | 0.5 |  |  |  |  |
Changes in Gain (Loss) on Cash Flow Hedges |  | 0.1 |  |  | 0.1 |  |  |  |  |
Income Tax Benefit (Expense) |  | — |  |  | — |  |  |  |  |
Net of Taxes |  | 0.1 |  |  | 0.1 |  |  |  |  |
Total Other Comprehensive Income (Loss) Before Income Taxes |  | (365.7) |  |  | (204.0) |  |  |  |  |
Total Income Tax Benefit (Expense) |  | 75.7 |  |  | 42.8 |  |  |  |  |
Total Other Comprehensive Income (Loss), Net of Taxes |  | $ | (290.0) |  |  | $ | (161.2) |  |  |  |  |
Reclassification out of Accumulated Comprehensive Income | Components of AOCI were reclassified to the following lines of the Condensed Consolidated Statements of Income for the three months ended March 31, 2021 and 2020:
|  | Three Months Ended |  |
(Dollars in Millions) |  | Mar 31, 2021 |  | Mar 31, 2020 |  |  |  |
Reclassification of AOCI from Net Unrealized Gains on Investments to: |  |  |  |  |  |  |  |
Net Realized Gains on Sales of Investments |  | $ | 13.8 |  |  | $ | 15.9 |  |  |  |  |
Impairment Losses |  | (4.0) |  |  | (12.0) |  |  |  |  |
Total Before Income Taxes |  | 9.8 |  |  | 3.9 |  |  |  |  |
Income Tax Benefit (Expense) |  | (2.1) |  |  | (0.8) |  |  |  |  |
Reclassification from AOCI, Net of Income Taxes |  | 7.7 |  |  | 3.1 |  |  |  |  |
Reclassification of AOCI from Unrecognized Postretirement Benefit Costs to: |  |  |  |  |  |  |  |
Interest and Other Expenses |  | (0.3) |  |  | (0.7) |  |  |  |  |
Income Tax Benefit (Expense) |  | (0.5) |  |  | 0.1 |  |  |  |  |
Reclassification from AOCI, Net of Income Taxes |  | (0.8) |  |  | (0.6) |  |  |  |  |
Reclassification of AOCI from Loss on Cash Flow Hedges to: |  |  |  |  |  |  |  |
Interest and Other Expenses |  | (0.1) |  |  | (0.1) |  |  |  |  |
Income Tax Benefit (Expense) |  | — |  |  | — |  |  |  |  |
Reclassification from AOCI, Net of Income Taxes |  | (0.1) |  |  | (0.1) |  |  |  |  |
Total Reclassification from AOCI to Net Income |  | $ | 6.8 |  |  | $ | 2.4 |  |  |  |  |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121641772&loc=d3e526-108580 + Details
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