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Shareholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2015
Equity [Abstract] |
Common Stock outstanding | The following is a summary of changes in common shares issued and outstanding during the years ended December 31, 2015, 2014 and 2013:
(In thousands of shares) | 2015 |  | 2014 |  | 2013
Issued and outstanding shares - January 1 | 56,534 |  |  | 61,197 |  |  | 61,624 |
Repurchase of shares | (3,680 | ) |  | (4,909 | ) |  | (681 | )
Shares issued due to exercise of options and vesting of share-based compensation awards | 150 |  |  | 154 |  |  | 169 |
Other shares issued for compensation and shares reissued to stock purchase plan* | 97 |  |  | 92 |  |  | 85 |
Issued and outstanding shares - December 31 | 53,101 |  |  | 56,534 |  |  | 61,197 |
* Shares issued were valued at fair value (the market price of a ProAssurance common share on the date of issue).
Dividends declared | ProAssurance declared cash dividends during 2015, 2014 and 2013 as follows:
|  | Cash Dividends Declared, per Share
|  | 2015 |  | 2014 |  | 2013
First Quarter |  | $ | 0.31 |  |  | $ | 0.30 |  |  | $ | 0.25 |
Second Quarter |  | 0.31 |  |  | 0.30 |  |  | 0.25 |
Third Quarter |  | 0.31 |  |  | 0.30 |  |  | 0.25 |
Fourth Quarter* |  | 1.31 |  |  | 2.96 |  |  | 0.30 |
* Includes special dividends of $1.00 per share in 2015 and $2.65 per share in 2014.
Reclassification adjustments related to available-for-sale securities | Amounts reclassified from AOCI to net income and the amounts of deferred tax expense (benefit) included in OCI were as follows:
(In thousands) | 2015 |  | 2014 |  | 2013
Reclassifications from AOCI to net income, available-for-sale securities: |  |  |  |  |
Realized investment gains (losses) | $ | (4,475 | ) |  | $ | 3,317 |  |  | $ | 11,722 |
Non-credit impairment losses reclassified to earnings, due to sale of securities or reclassification as a credit loss | (2,279 | ) |  | — |  |  | (347 | )
Tax effect (at 35%) | 2,364 |  |  | (1,161 | ) |  | (3,981 | )
Net reclassification adjustments | $ | (4,390 | ) |  | $ | 2,156 |  |  | $ | 7,394 |
Deferred tax expense (benefit) included in OCI | $ | (18,370 | ) |  | $ | (785 | ) |  | $ | (46,157 | )

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