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ACCUMULATED OTHER COMPREHENSIVE INCOME
 9 Months Ended
Sep. 30, 2018
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 (loss), net of tax.
 
 
Accumulated other comprehensive income (loss) 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, 2017
 
$
83,497

 
$
(13,074
)
 
$
12,961

 
$
(113
)
 
$
83,384

Cumulative adjustment for adoption of financial instruments recognition and measurement changes
 
(66,234
)
 
—

 
—

 
—

 
(66,234
)
Other comprehensive income (loss) before reclassifications
 
(35,903
)
 
—

 
—

 
—

 
(35,903
)
Amounts reclassified from accumulated other comprehensive income (loss)
 
5,288

 
250

 
(1,867
)
 
(1,617
)
 
3,671

Other comprehensive income (loss)
 
(30,615
)
 
250

 
(1,867
)
 
(1,617
)
 
(32,232
)
Balance at September 30, 2018
 
$
(13,352
)
 
$
(12,824
)
 
$
11,094

 
$
(1,730
)
 
$
(15,082
)


 
 
Accumulated other comprehensive income (loss) 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 (loss) before reclassifications
 
23,460

 
—

 
—

 
—

 
23,460

Amounts reclassified from accumulated other comprehensive income (loss)
 
(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



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, 2018 and 2017, respectively.
($ in thousands)
 
Amounts reclassified from accumulated other comprehensive income (loss)
 
 
Accumulated other comprehensive
income (loss) components
 
Three months ended 
 September 30, 2018
 
Nine months ended 
 September 30, 2018
 
Affected line item in the
consolidated statements
of income
Unrealized gains (losses) on investments:
 
 
 
 
 
 
Reclassification adjustment for net realized investment gains (losses) included in net income
 
$
(960
)
 
$
(6,694
)
 
Net realized investment gains (losses) and, beginning in 2018, change in unrealized investment gains on equity investments
Deferred income tax (expense) benefit
 
202

 
1,406

 
Total income tax expense (benefit)
Net reclassification adjustment
 
(758
)
 
(5,288
)
 
Net income
 
 
 
 
 
 
 
Unrecognized pension and postretirement benefit obligations:
 
 
 
 
 
 
Reclassification adjustment for amounts amortized into net periodic pension and postretirement benefit income:
 
 
 
 
 
 
Net actuarial loss
 
(106
)
 
(316
)
 
(1)
Prior service credit
 
788

 
2,363

 
(1)
Total before tax
 
682

 
2,047

 
 
Deferred income tax (expense) benefit
 
(143
)
 
(430
)
 
 
Net reclassification adjustment
 
539

 
1,617

 
 
 
 
 
 
 
 
 
Total reclassification adjustment
 
$
(219
)
 
$
(3,671
)
 
 

(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 (loss)
 
 
Accumulated other comprehensive
income (loss) components
 
Three months ended September 30, 2017
 
Nine months ended September 30, 2017
 
Affected line item in the
consolidated statements
of income
Unrealized gains (losses) on investments:
 
 
 
 
 
 
Reclassification adjustment for net realized investment gains (losses) included in net income
 
$
405

 
$
6,767

 
Net realized investment gains (losses) and, beginning in 2018, change in unrealized investment gains on equity investments
Deferred income tax (expense) benefit
 
(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) benefit
 
(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).