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Other Comprehensive Income and Accumulated Other Comprehensive Loss | 6 Months Ended
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Jun. 30, 2024
Statement of Comprehensive Income [Abstract] |
Other Comprehensive Income and Accumulated Other Comprehensive Loss | Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss The tables below display the changes in Accumulated Other Comprehensive Loss by component for the three months ended June 30, 2024 and 2023.
(Dollars in Millions) |  | Net Unrealized Losses on Fixed Maturities |  | Net Unrealized Losses on Investments with an Allowance for Credit Losses |  | Net Unrecognized Postretirement Benefit Income |  | Gain (Loss) on Cash Flow Hedges |  | Change in Discount Rate on Future Life Policyholder Benefits |  | Total
Balance as of March 31, 2024 |  | $ | (617.2) |  |  | $ | (1.1) |  |  | $ | 8.7 |  |  | $ | 2.5 |  |  | $ | 272.1 |  |  | $ | (335.0) |
Other Comprehensive (Loss) Income Before Reclassifications |  | (61.4) |  |  | (2.3) |  |  | — |  |  | (2.8) |  |  | 85.9 |  |  | 19.4 |
Amounts Reclassified from Accumulated Other Comprehensive Loss Net of Tax Benefit of $0.3, $0.0, $0.4, $0.0, $0.0 and $0.7 |  | (1.0) |  |  | (0.3) |  |  | (0.4) |  |  | — |  |  | — |  |  | (1.7) |
Other Comprehensive (Loss) Income Net of Tax Benefit (Expense) of $16.8, $0.4, $0.4, $0.8, $(22.9), and $(4.5) |  | (62.4) |  |  | (2.6) |  |  | (0.4) |  |  | (2.8) |  |  | 85.9 |  |  | 17.7 |
Balance as of June 30, 2024 |  | $ | (679.6) |  |  | $ | (3.7) |  |  | $ | 8.3 |  |  | $ | (0.3) |  |  | $ | 358.0 |  |  | $ | (317.3) |
(Dollars in Millions) |  | Net Unrealized Losses on Fixed Maturities |  | Net Unrealized Losses on Investments with an Allowance for Credit Losses |  | Net Unrecognized Postretirement Benefit Costs |  | Gain on Cash Flow Hedges |  | Change in Discount Rate on Future Life Policyholder Benefits |  | Total
Balance as of March 31, 2023 |  | $ | (572.0) |  |  | $ | (2.2) |  |  | $ | (37.6) |  |  | $ | 2.7 |  |  | $ | 154.4 |  |  | $ | (454.7) |
Other Comprehensive (Loss) Income Before Reclassifications |  | (72.1) |  |  | — |  |  | — |  |  | — |  |  | 40.0 |  |  | (32.1) |
Amounts Reclassified from Accumulated Other Comprehensive Loss Net of Tax (Expense) Benefit of $(1.8), $0.0,$0.4, $(0.1), $0.0, and $(1.5) |  | 6.5 |  |  | (0.1) |  |  | (0.4) |  |  | — |  |  | — |  |  | 6.0 |
Other Comprehensive (Loss) Income Net of Tax Benefit (Expense) of $19.4, $0.0, $0.0, $0.0 $(10.6) and $8.8 |  | (65.6) |  |  | (0.1) |  |  | (0.4) |  |  | — |  |  | 40.0 |  |  | (26.1) |
Balance as of June 30, 2023 |  | $ | (637.6) |  |  | $ | (2.3) |  |  | $ | (38.0) |  |  | $ | 2.7 |  |  | $ | 194.4 |  |  | $ | (480.8) |
Note 12 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss (Continued) The tables below display the changes in Accumulated Other Comprehensive Loss by component for the six months ended June 30, 2024 and 2023.
(Dollars in Millions) |  | Net Unrealized Losses on Fixed Maturities |  | Net Unrealized Losses on Investments with an Allowance for Credit Losses |  | Net Unrecognized Postretirement Benefit Income |  | Gain (Loss) on Cash Flow Hedges |  | Change in Discount Rate on Future Life Policyholder Benefits |  | Total
Balance as of January 1, 2024 |  | $ | (530.9) |  |  | $ | (2.5) |  |  | $ | 9.5 |  |  | $ | 2.5 |  |  | $ | 160.6 |  |  | (360.8) |
Other Comprehensive (Loss) Income Before Reclassifications |  | (157.5) |  |  | (0.7) |  |  | — |  |  | (2.8) |  |  | 197.4 |  |  | 36.4 |
Amounts Reclassified from Accumulated Other Comprehensive Loss Net of Tax (Expense) Benefit of $(2.3), $0.2, $0.5, $0.0, $0.0 and $(1.6) |  | 8.8 |  |  | (0.5) |  |  | (1.2) |  |  | — |  |  | — |  |  | 7.1 |
Other Comprehensive (Loss) Income Net of Tax Benefit (Expense) of $39.5, $0.5, $0.5, $0.8, $(52.5), and $(11.2) |  | (148.7) |  |  | (1.2) |  |  | (1.2) |  |  | (2.8) |  |  | 197.4 |  |  | 43.5 |
Balance as of June 30, 2024 |  | $ | (679.6) |  |  | $ | (3.7) |  |  | $ | 8.3 |  |  | $ | (0.3) |  |  | $ | 358.0 |  |  | $ | (317.3) |
(Dollars in Millions) |  | Net Unrealized (Losses) Gains on Fixed Maturities |  | Net Unrealized Losses on Investments with an Allowance for Credit Losses |  | Net Unrecognized Postretirement Benefit Costs |  | Gain on Cash Flow Hedges |  | Change in Discount Rate on Future Life Policyholder Benefits |  | Total
Balance as of January 1, 2023 |  | $ | (719.4) |  |  | $ | (2.2) |  |  | $ | (37.2) |  |  | $ | 2.8 |  |  | $ | 241.1 |  |  | $ | (514.9) |
Other Comprehensive Income (Loss) Before Reclassifications |  | 75.4 |  |  | 1.4 |  |  | — |  |  | — |  |  | (46.7) |  |  | 30.1 |
Amounts Reclassified from Accumulated Other Comprehensive Loss Net of Tax (Expense) Benefit of $(1.8), $0.4, $0.3, $0.0, $0.0 and $(1.1) |  | 6.4 |  |  | (1.5) |  |  | (0.8) |  |  | (0.1) |  |  | — |  |  | 4.0 |
Other Comprehensive Income (Loss) Net of Tax (Expense) Benefit of $(20.4), $(0.4), $0.0, $0.0, $12.5, and $(8.3) |  | 81.8 |  |  | (0.1) |  |  | (0.8) |  |  | (0.1) |  |  | (46.7) |  |  | 34.1 |
Balance as of June 30, 2023 |  | $ | (637.6) |  |  | $ | (2.3) |  |  | $ | (38.0) |  |  | $ | 2.7 |  |  | $ | 194.4 |  |  | $ | (480.8) |
Amounts reclassified from Accumulated Other Comprehensive Loss shown above are reported in Net Income (Loss) as follows:
Components of AOCI | Condensed Consolidated Statements of Income (Loss) Line Item Affected by Reclassifications
Net Unrealized Losses on Other Investments and Net Unrealized Losses on Investments with an Allowance for Credit Losses | Net Realized Investment Gains (Losses) and Impairment Losses
Net Unrecognized Postretirement Benefit Income (Costs) | Policyholders’ Benefits and Incurred Losses and Loss Adjustment Expenses, Insurance Expenses, and Interest and Other Expenses
Gains on Cash Flow Hedges | Net Investment Income and Interest and Other Expenses

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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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