Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2014

Components of Accumulated Other Comprehensive Income (Loss)

Changes in the balances of each component of accumulated other comprehensive income (loss) for the six months ended June 30, 2014 are as follows:

(in thousands)	Net unrealized gains (losses) on securities			Foreign currency translation adjustment			Pension benefit adjustment			Accumulated other comprehensive income (loss)
Balance at December 31, 2013	$	(8,727	)	$	(3,726	)	$	(133,084	)	$	(145,537	)
Change in net unrealized gains (losses) on securities		42,232			—			—			42,232
Change in net unrealized gains (losses) on securities for which credit losses have been recognized in earnings		712			—			—			712
Change in foreign currency translation adjustment		—			5,572			—			5,572
Amortization of net actuarial loss		—			—			14,814			14,814
Amortization of prior service credit		—			—			(2,076	)		(2,076	)
Tax effect		(16,705	)		—			(4,955	)		(21,660	)
Balance at June 30, 2014	$	17,512		$	1,846		$	(125,301	)	$	(105,943	)
Allocated to the Company	$	17,498		$	1,846		$	(125,301	)	$	(105,957	)
Allocated to noncontrolling interests		14			—			—			14
Balance at June 30, 2014	$	17,512		$	1,846		$	(125,301	)	$	(105,943	)

Adjustments for Reclassification of Accumulated Other Comprehensive Income (Loss)

The following table presents the other comprehensive income (loss) reclassification adjustments for the three months ended June 30, 2014 and 2013:

(in thousands)	Net unrealized gains (losses) on securities			Foreign currency translation adjustment			Pension benefit adjustment			Accumulated other comprehensive income (loss)
Three Months Ended June 30, 2014
Pretax change before reclassifications	$	29,818		$	11,612		$	—		$	41,430
Reclassifications out of AOCI		(6,840	)		—			6,369			(471	)
Tax effect		(8,939	)		—			(2,477	)		(11,416	)
Total other comprehensive income (loss), net of tax	$	14,039		$	11,612		$	3,892		$	29,543
Three Months Ended June 30, 2013
Pretax change before reclassifications	$	(63,816	)	$	(9,794	)	$	—		$	(73,610	)
Reclassifications out of AOCI		(4,691	)		—			6,906			2,215
Tax effect		27,403			—			(2,763	)		24,640
Total other comprehensive income (loss), net of tax	$	(41,104	)	$	(9,794	)	$	4,143		$	(46,755	)

(in thousands)	Net unrealized gains (losses) on securities			Foreign currency translation adjustment			Pension benefit adjustment			Accumulated other comprehensive income (loss)
Six Months Ended June 30, 2014
Pretax change before reclassifications	$	51,953		$	5,572		$	—		$	57,525
Reclassifications out of AOCI		(9,009	)		—			12,738			3,729
Tax effect		(16,705	)		—			(4,955	)		(21,660	)
Total other comprehensive income (loss), net of tax	$	26,239		$	5,572		$	7,783		$	39,594
Six Months Ended June 30, 2013
Pretax change before reclassifications	$	(56,622	)	$	(16,616	)	$	—		$	(73,238	)
Reclassifications out of AOCI		(11,254	)		—			13,812			2,558
Tax effect		27,151			—			(5,525	)		21,626
Total other comprehensive income (loss), net of tax	$	(40,725	)	$	(16,616	)	$	8,287		$	(49,054	)

Reclassifications out of Accumulated Other Comprehensive Income (Loss)

The following table presents the effect of the reclassifications out of accumulated other comprehensive income (loss) on the respective line items in the condensed consolidated statements of income:

		Amounts reclassified from accumulated other comprehensive income (loss)
(in thousands)		Three Months Ended June 30,						Six Months Ended June 30,					Affected line items in the condensed
(in thousands)		2014			2013			2014			2013		consolidated statements of income
Net unrealized gains (losses) on securities:
Net realized gains on sales of securities	$	7,355		$	4,691		$	10,042		$	11,254		Net realized investment gains
Net OTTI losses recognized in earnings		(515	)		—			(1,033	)		—		Net OTTI losses recognized in earnings
Pretax total	$	6,840		$	4,691		$	9,009		$	11,254
Tax effect	$	(2,661	)	$	(1,876	)	$	(3,505	)	$	(4,502	)
Pension benefit adjustment:
Amortization of defined benefit pension and supplemental benefit plan items:
Net actuarial loss		(7,407	)		(8,002	)		(14,814	)		(16,004	)	(1)
Prior service credit		1,038			1,096			2,076			2,192		(1)
Pretax total	$	(6,369	)	$	(6,906	)	$	(12,738	)	$	(13,812	)
Tax effect	$	2,477		$	2,763		$	4,955		$	5,525

(1)	These accumulated other comprehensive income components are included in the computation of net periodic cost. See Note 11 – Employee Benefit Plans for additional details.