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Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) | 12 Months Ended
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Dec. 31, 2020
Equity [Abstract] |
Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) | Comprehensive income (loss) represents the change in shareholders' equity during a reporting period from transactions and other events and circumstances from non-shareholder sources. For the Company, comprehensive income (loss) is equal to net income plus or minus the after tax change in net unrealized investment gains (losses) on fixed maturity securities and the after tax change in net funded status of benefit plans for the periods as shown in the Consolidated Statements of Changes in Shareholders' Equity. AOCI represents the accumulated change in shareholders' equity from these transactions and other events and circumstances from non-shareholder sources as shown in the Consolidated Balance Sheets. In the Consolidated Balance Sheets, the Company recognizes the net funded status of benefit plans as a component of AOCI, net of tax. Comprehensive Income (Loss) The components of comprehensive income (loss) were as follows:
($ in thousands) |  | Year Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Net income |  | $ | 133,315 |  |  | $ | 184,443 |  |  | $ | 18,343 |
Other comprehensive income (loss): |  |  |  |  |  |
Change in net unrealized investment gains (losses) on fixed maturity securities: |  |  |  |  |  |
Net unrealized investment gains (losses) on securities arising during the period |  | 183,950 |  |  | 327,363 |  |  | (275,094) |
Less: reclassification adjustment for net investment gains (losses) included in income before income tax |  | 11,235 |  |  | 157,423 |  |  | (16,363) |
Total, before tax |  | 172,715 |  |  | 169,940 |  |  | (258,731) |
Income tax expense (benefit) |  | 36,878 |  |  | 36,433 |  |  | (55,495) |
Total, net of tax |  | 135,837 |  |  | 133,507 |  |  | (203,236) |
Change in net funded status of benefit plans: |  |  |  |  |  |
Before tax |  | (503) |  |  | 1,805 |  |  | 1,294 |
Income tax expense (benefit) |  | (105) |  |  | 387 |  |  | 262 |
Total, net of tax |  | (398) |  |  | 1,418 |  |  | 1,032 |
Total comprehensive income (loss) |  | $ | 268,754 |  |  | $ | 319,368 |  |  | $ | (183,861) |
Accumulated Other Comprehensive Income (Loss) The following table reconciles the components of AOCI for the periods indicated.
($ in thousands) |  | Net Unrealized Investment Gains (Losses) on Securities (1)(2) |  | Net Funded Status of Benefit Plans (1) |  | Total (1)
Beginning balance, January 1, 2020 |  | $ | 230,448 |  |  | $ | (10,767) |  |  | $ | 219,681 |
Other comprehensive income (loss) before reclassifications |  | 144,713 |  |  | (398) |  |  | 144,315 |
Amounts reclassified from AOCI |  | (8,876) |  |  | — |  |  | (8,876) |
Net current period other comprehensive income (loss) |  | 135,837 |  |  | (398) |  |  | 135,439 |
Ending balance, December 31, 2020 |  | $ | 366,285 |  |  | $ | (11,165) |  |  | $ | 355,120 |
Beginning balance, January 1, 2019 |  | $ | 96,941 |  |  | $ | (12,185) |  |  | $ | 84,756 |
Other comprehensive income (loss) before reclassifications |  | 257,871 |  |  | 1,418 |  |  | 259,289 |
Amounts reclassified from AOCI |  | (124,364) |  |  | — |  |  | (124,364) |
Net current period other comprehensive income (loss) |  | 133,507 |  |  | 1,418 |  |  | 134,925 |
Ending balance, December 31, 2019 |  | $ | 230,448 |  |  | $ | (10,767) |  |  | $ | 219,681 |
Beginning balance, January 1, 2018 |  | $ | 300,177 |  |  | $ | (13,217) |  |  | $ | 286,960 |
Other comprehensive income (loss) before reclassifications |  | (201,122) |  |  | 1,032 |  |  | (200,090) |
Amounts reclassified from AOCI |  | 12,927 |  |  | — |  |  | 12,927 |
Cumulative effect of change in accounting principle (3) |  | (15,041) |  |  | — |  |  | (15,041) |
Net current period other comprehensive income (loss) |  | (203,236) |  |  | 1,032 |  |  | (202,204) |
Ending balance, December 31, 2018 |  | $ | 96,941 |  |  | $ | (12,185) |  |  | $ | 84,756 |
(1) All amounts are net of tax. (2) The pretax amounts reclassified from AOCI, $11.2 million, $157.4 million and $(16.4) million, are included in net investment gains (losses) and the related tax expenses, $2.4 million, $33.1 million and $(3.4) million, are included in income tax expense in the Consolidated Statements of Operations for the years ended December 31, 2020, 2019 and 2018, respectively. (3) The Company adopted guidance on January 1, 2018 that resulted in reclassifying $15.0 million of after tax net unrealized gains on equity securities from AOCI to Retained earnings. Comparative information for elements that are not required to be reclassified in their entirety to net income in the same reporting period is located in Note 2.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
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