Consolidated Statements of Comprehensive Income

9 Months Ended

Sep. 30, 2017

Equity [Abstract]

Consolidated Statements of Comprehensive Income

Consolidated Statement of Comprehensive Income

The following table presents the components of the changes in accumulated other comprehensive income ("AOCI"):

(In thousands)	Unrealized Investment Gains (Losses)				Currency Translation Adjustments			Accumulated Other Comprehensive Income
As of and for the nine months ended September 30, 2017:
Changes in AOCI
Beginning of period	$	427,154			$	(371,586	)	$	55,568
Other comprehensive income before reclassifications	109,277				71,574			180,851
Amounts reclassified from AOCI	(82,679		)		—			(82,679		)
Other comprehensive income	26,598				71,574			98,172
Unrealized investment loss related to non-controlling interest	19				—			19
End of period	$	453,771			$	(300,012	)	$	153,759
Amounts reclassified from AOCI
Pre-tax	$	(127,198	)	(1)	$	—		$	(127,198	)
Tax effect	44,519			(2)	—			44,519
After-tax amounts reclassified	$	(82,679	)		$	—		$	(82,679	)
Other comprehensive income
Pre-tax	$	50,148			$	71,574		$	121,722
Tax effect	(23,550		)		—			(23,550		)
Other comprehensive income	$	26,598			$	71,574		$	98,172
As of and for the three months ended September 30, 2017:
Changes in AOCI
Beginning of period	$	461,906			$	(328,604	)	$	133,302
Other comprehensive income before reclassifications	19,968				28,592			48,560
Amounts reclassified from AOCI	(28,136		)		—			(28,136		)
Other comprehensive (loss) income	(8,168		)		28,592			20,424
Unrealized investment loss related to non-controlling interest	33				—			33
End of period	$	453,771			$	(300,012	)	$	153,759
Amounts reclassified from AOCI
Pre-tax	$	(43,286	)	(1)	$	—		$	(43,286	)
Tax effect	15,150			(2)	—			15,150
After-tax amounts reclassified	$	(28,136	)		$	—		$	(28,136	)
Other comprehensive (loss) income
Pre-tax	$	(8,563	)		$	28,592		$	20,029
Tax effect	395				—			395
Other comprehensive (loss) income	$	(8,168	)		$	28,592		$	20,424

_________________________

⁽¹⁾ Net investment gains in the consolidated statements of income.

⁽²⁾ Income tax expense in the consolidated statements of income.

(In thousands)	Unrealized Investment Gains (Losses)				Currency Translation Adjustments			Accumulated Other Comprehensive Income (Loss)
As of and for the nine months ended September 30, 2016:
Changes in AOCI
Beginning of period	$	180,695			$	(247,393	)	$	(66,698	)
Other comprehensive income (loss) before reclassifications	170,824				(77,389		)	93,435
Amounts reclassified from AOCI	(36,611		)		—			(36,611		)
Other comprehensive income (loss)	134,213				(77,389		)	56,824
Unrealized investment loss related to non-controlling interest	66				—			66
End of period	$	314,974			$	(324,782	)	$	(9,808	)
Amounts reclassified from AOCI
Pre-tax	$	(56,325	)	(1)	$	—		$	(56,325	)
Tax effect	19,714			(2)	—			19,714
After-tax amounts reclassified	$	(36,611	)		$	—		$	(36,611	)
Other comprehensive income (loss)
Pre-tax	$	198,808			$	(77,389	)	$	121,419
Tax effect	(64,595		)		—			(64,595		)
Other comprehensive income (loss)	$	134,213			$	(77,389	)	$	56,824
As of and for the three months ended September 30, 2016:
Changes in AOCI
Beginning of period	$	362,593			$	(305,312	)	$	57,281
Other comprehensive loss before reclassifications	(20,968		)		(19,470		)	(40,438		)
Amounts reclassified from AOCI	(26,708		)		—			(26,708		)
Other comprehensive loss	(47,676		)		(19,470		)	(67,146		)
Unrealized investment loss related to non-controlling interest	57				—			57
End of period	$	314,974			$	(324,782	)	$	(9,808	)
Amounts reclassified from AOCI
Pre-tax	$	(41,090	)	(1)	$	—		$	(41,090	)
Tax effect	14,382			(2)	—			14,382
After-tax amounts reclassified	$	(26,708	)		$	—		$	(26,708	)
Other comprehensive loss
Pre-tax	$	(72,188	)		$	(19,470	)	$	(91,658	)
Tax effect	24,512				—			24,512
Other comprehensive loss	$	(47,676	)		$	(19,470	)	$	(67,146	)

_______________

(1) Net investment gains in the consolidated statements of income.

(2) Income tax expense in the consolidated statements of income.