Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2011

Comprehensive Income (Loss) [Abstract]

Comprehensive Income (Loss)

13.  COMPREHENSIVE INCOME (LOSS)

The following table presents the components of comprehensive income (loss) in the consolidated statements of operations for the periods indicated:

	Years Ended December 31,
(Dollars in thousands)	2011			2010			2009
Net income (loss)	$	(80,486	)	$	610,754		$	806,989
Other comprehensive income (loss), before tax:
Unrealized appreciation (depreciation) ("URA(D)") on securities arising during the period
URA(D) of investments - temporary		109,928			65,199			550,356
URA(D) of investments - non-credit OTTI		824			7,831			35,563
URA(D) on securities arising during the period		110,752			73,030			585,919
Less:  reclassification adjustment for realized losses (gains) included in net income (loss)		(4,193	)		(24,593	)		50,789
Total URA(D) on securities arising during the period		106,559			48,437			636,708
Foreign currency translation adjustments		(16,429	)		16,429			98,931
Pension adjustments		(45,310	)		(2,792	)		11,466
Total other comprehensive income (loss), before tax		44,820			62,074			747,105
Income tax benefit (expense) related to items of other comprehensive income (loss):
Tax benefit (expense) on URA(D) arising during the period
Tax benefit (expense) on URA(D) of investments - temporary		(21,248	)		(5,046	)		(91,259	)
Tax benefit (expense) on URA(D) of investments - non-credit OTTI		66			(1,002	)		(3,830	)
Tax benefit (expense) on URA(D) on securities arising during the period		(21,182	)		(6,048	)		(95,089	)
Tax reclassification due to realized losses (gains) included in net income (loss)		(5,236	)		17,775			(11,674	)
Total tax benefit (expense) from URA(D) arising during the period		(26,418	)		11,727			(106,763	)
Tax benefit (expense) from foreign currency translation		460			(14,558	)		(15,128	)
Tax benefit (expense) on pension		15,858			977			(4,013	)
Total income tax benefit (expense) related to items of other comprehensive income (loss):		(10,100	)		(1,854	)		(125,904	)
Other comprehensive income (loss), net of tax		34,720			60,220			621,201
Comprehensive income (loss)	$	(45,766	)	$	670,974		$	1,428,190

The following table presents the components of accumulated other comprehensive income (loss), net of tax, in the consolidated balance sheets for the periods indicated:

	Years Ended December 31,
(Dollars in thousands)	2011			2010
Beginning balance of URA (D) on securities	$	369,438		$	309,274
Current period change in URA (D) of investments - temporary		79,251			58,709
Current period change in URA (D) of investments - non-credit OTTI		890			1,455
Ending balance of URA (D) on securities		449,579			369,438
Beginning balance of foreign currency translation adjustments		(11,097	)		(12,968	)
Current period change in foreign currency translation adjustments		(15,969	)		1,871
Ending balance of foreign currency translation adjustments		(27,066	)		(11,097	)
Beginning balance of pension		(26,083	)		(24,268	)
Current period change in pension		(29,452	)		(1,815	)
Ending balance of pension		(55,535	)		(26,083	)
Ending balance of accumulated other comprehensive income (loss)	$	366,978		$	332,258