Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2020

Other Comprehensive Income (Loss) [Abstract]

Components Of Comprehensive Income (Loss) In The Consolidated Statements Of Operations

Three Months Ended September 30, 2020

Nine Months Ended September 30, 2020

(Dollars in thousands)

Before Tax

Tax Effect

Net of Tax

Before Tax

Tax Effect

Net of Tax

Unrealized appreciation (depreciation) ("URA(D)") on securities - non-

credit related

$

68,264

$

(4,784)

$

63,480

$

373,990

$

(38,155)

$

335,835

Reclassification of net realized losses (gains) included in net income

(loss)

(12,678)

1,225

(11,453)

18,650

(5,961)

12,689

Foreign currency translation adjustments

64,453

(3,825)

60,628

28,555

1,835

30,390

Reclassification of benefit plan liability amortization included in net

income (loss)

2,285

(479)

1,806

5,736

(1,204)

4,532

Total other comprehensive income (loss)

$

122,324

$

(7,863)

$

114,461

$

426,931

$

(43,485)

$

383,446

Three Months Ended September 30, 2019

Nine Months Ended September 30, 2019

(Dollars in thousands)

Before Tax

Tax Effect

Net of Tax

Before Tax

Tax Effect

Net of Tax

Unrealized appreciation (depreciation) ("URA(D)") on securities - non-

credit related

$

103,247

$

(9,529)

$

93,718

$

587,930

$

(61,792)

$

526,138

URA(D) on securities - OTTI

72

(25)

47

(1,671)

122

(1,549)

Reclassification of net realized losses (gains) included in net income

(loss)

(74)

(455)

(529)

(3,597)

(623)

(4,220)

Foreign currency translation adjustments

(2,665)

(761)

(3,426)

(13,890)

(1,316)

(15,206)

Reclassification of benefit plan liability amortization included in net

income (loss)

1,726

(363)

1,363

4,640

(975)

3,665

Total other comprehensive income (loss)

$

102,306

$

(11,133)

$

91,173

$

573,412

$

(64,584)

$

508,828

Reclassification From Accumulated Other Comprehensive Income

Three Months Ended

Nine Months Ended

September 30,

September 30,

Affected line item within the statements of

AOCI component

2020

2019

2020

2019

operations and comprehensive income (loss)

(Dollars in thousands)

URA(D) on securities

$

(12,678)

$

(74)

$

18,650

$

(3,597)

Other net realized capital gains (losses)

1,225

(455)

(5,961)

(623)

Income tax expense (benefit)

$

(11,453)

$

(529)

$

12,689

$

(4,220)

Net income (loss)

Benefit plan net gain (loss)

$

2,285

$

1,726

$

5,736

$

4,640

Other underwriting expenses

(479)

(363)

(1,204)

(975)

Income tax expense (benefit)

$

1,806

$

1,363

$

4,532

$

3,665

Net income (loss)

Components Of Accumulated Other Comprehensive Income (Loss), Net Of Tax, In The Consolidated Balance Sheets

Three Months Ended

Nine Months Ended

September 30,

September 30,

(Dollars in thousands) 

2020

2019

2020

2019

Beginning balance of URA (D) on securities

$

600,922

$

247,741

$

304,425

$

(179,392)

Current period change in URA (D) of investments - non-credit related

52,027

93,190

348,524

521,919

Current period change in URA (D) of investments - non-credit OTTI

-

47

-

(1,549)

Ending balance of URA (D) on securities

652,949

340,978

652,949

340,978

Beginning balance of foreign currency translation adjustments

(231,955)

(227,527)

(201,717)

(215,747)

Current period change in foreign currency translation adjustments

60,628

(3,426)

30,390

(15,206)

Ending balance of foreign currency translation adjustments 

(171,327)

(230,953)

(171,327)

(230,953)

Beginning balance of benefit plan net gain (loss)

(71,830)

(65,116)

(74,556)

(67,418)

Current period change in benefit plan net gain (loss)

1,806

1,363

4,532

3,665

Ending balance of benefit plan net gain (loss)

(70,024)

(63,753)

(70,024)

(63,753)

Ending balance of accumulated other comprehensive income (loss)

$

411,598

$

46,272

$

411,598

$

46,272

(Some amounts may not reconcile due to rounding.)