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Other Comprehensive Income and Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2024

Statement of Comprehensive Income [Abstract]

Schedule of Comprehensive Income

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)

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

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
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 1
-Section 45
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1

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- References

No definition available.

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