Other Comprehensive Income

9 Months Ended

Sep. 30, 2023

Comprehensive Income (Loss) Note [Text Block]

OTHER COMPREHENSIVE INCOME (LOSS)

The changes in the components of other comprehensive income (loss) are reported net of the effects of income taxes of 21% for entities domiciled in the United States and 4% for entities domiciled in Puerto Rico for the three and nine months ended September 30, 2023 and 2022, as indicated below.


Three Months Ended September 30,	2023				2022
(In thousands)	Amount		Tax Effect	Total	Amount	Tax Effect	Total
Unrealized gains (losses):
Unrealized holding gains (losses) arising during the period	$	(59,817)	8,717	(51,100)	(88,382)	398	(87,984)
Reclassification adjustment for losses (gains) included in net income (loss)	419		(88)	331	43	(9)	34
Unrealized holding gains (losses), net	(59,398)		8,629	(50,769)	(88,339)	389	(87,950)
Change in current discount rate for liability for future policy benefits	60,054		(7,589)	52,465	73,214	(205)	73,009
Other comprehensive income (loss)	$	656	1,040	1,696	(15,125)	184	(14,941)

Nine Months Ended September 30,	2023				2022
(In thousands)	Amount		Tax Effect	Total	Amount	Tax Effect	Total
Unrealized gains (losses):
Unrealized holding gains (losses) arising during the period	$	(36,811)	7,548	(29,263)	(340,678)	13,790	(326,888)
Reclassification adjustment for losses (gains) included in net income (loss)	481		(101)	380	78	(16)	62
Unrealized holding gains (losses), net	(36,330)		7,447	(28,883)	(340,600)	13,774	(326,826)
Change in current discount rate for liability for future policy benefits	45,825		(6,565)	39,260	345,258	(19,936)	325,322

Other comprehensive income (loss)	$	9,495	882	10,377	4,658	(6,162)	(1,504)