ACCUMULATED OTHER COMPREHENSIVE INCOME

9 Months Ended

Sep. 30, 2017

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME

ACCUMULATED OTHER COMPREHENSIVE INCOME

The Company has available-for-sale securities and receives an allocation of the actuarial losses and net prior service credits associated with Employers Mutual’s pension and postretirement benefit plans, both of which generate accumulated other comprehensive income (loss) amounts.  The following table reconciles, by component, the beginning and ending balances of accumulated other comprehensive income, net of tax.

	Accumulated other comprehensive income by component
	Unrealized gains (losses) on available-for- sale securities			Unrecognized pension and postretirement benefit obligations
($ in thousands)				Net actuarial loss			Prior service credit			Total			Total
Balance at December 31, 2016	$	49,748		$	(16,299	)	$	12,632		$	(3,667	)	$	46,081
Other comprehensive income before reclassifications	23,460			—			—			—			23,460
Amounts reclassified from accumulated other comprehensive income	(4,399		)	719			(1,535		)	(816		)	(5,215		)
Other comprehensive income (loss)	19,061			719			(1,535		)	(816		)	18,245
Balance at September 30, 2017	$	68,809		$	(15,580	)	$	11,097		$	(4,483	)	$	64,326

	Accumulated other comprehensive income by component
	Unrealized gains (losses) on available-for- sale securities			Unrecognized pension and postretirement benefit obligations
($ in thousands)				Net actuarial loss			Prior service credit			Total			Total
Balance at December 31, 2015	$	60,369		$	(17,306	)	$	15,370		$	(1,936	)	$	58,433
Other comprehensive income before reclassifications	20,698			—			—			—			20,698
Amounts reclassified from accumulated other comprehensive income	(2,995		)	1,271			(1,878		)	(607		)	(3,602		)
Other comprehensive income (loss)	17,703			1,271			(1,878		)	(607		)	17,096
Balance at September 30, 2016	$	78,072		$	(16,035	)	$	13,492		$	(2,543	)	$	75,529

The following tables display amounts reclassified out of accumulated other comprehensive income and into net income during the three and nine months ended September 30, 2017 and 2016, respectively.

($ in thousands)	Amounts reclassified from accumulated other comprehensive income
Accumulated other comprehensive income components	Three months ended   September 30, 2017			Nine months ended   September 30, 2017			Affected line item in the consolidated statements of income
Unrealized gains on investments:
Reclassification adjustment for net realized investment gains included in net income	$	405		$	6,767		Net realized investment gains (losses), excluding impairment losses on securities available-for-sale
Deferred income tax expense	(141		)	(2,368		)	Total income tax expense (benefit)
Net reclassification adjustment	264			4,399			Net income
Unrecognized pension and postretirement benefit obligations:
Reclassification adjustment for amounts amortized into net periodic pension and postretirement benefit income:
Net actuarial loss	(370		)	(1,107		)	(1)
Prior service credit	787			2,362			(1)
Total before tax	417			1,255
Deferred income tax expense	(146		)	(439		)
Net reclassification adjustment	271			816
Total reclassification adjustment	$	535		$	5,215

(1) These reclassified components of accumulated other comprehensive income are included in the computation of net periodic pension and postretirement benefit income (see note 7, Employee Retirement Plans, for additional details).

($ in thousands)	Amounts reclassified from accumulated other comprehensive income
Accumulated other comprehensive income components	Three months ended September 30, 2016			Nine months ended September 30, 2016			Affected line item in the consolidated statements of income
Unrealized gains on investments:
Reclassification adjustment for net realized investment gains included in net income	$	718		$	4,608		Net realized investment gains (losses), excluding impairment losses on securities available-for-sale
Deferred income tax expense	(252		)	(1,613		)	Total income tax expense (benefit)
Net reclassification adjustment	466			2,995			Net income
Unrecognized pension and postretirement benefit obligations:
Reclassification adjustment for amounts amortized into net periodic pension and postretirement benefit income:
Net actuarial loss	(1,112		)	(1,956		)	(1)
Prior service credit	1,291			2,890			(1)
Total before tax	179			934
Deferred income tax expense	(62		)	(327		)
Net reclassification adjustment	117			607
Total reclassification adjustment	$	583		$	3,602

(1) These reclassified components of accumulated other comprehensive income are included in the computation of net periodic pension and postretirement benefit income (see note 7, Employee Retirement Plans, for additional details).