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Accumulated Other Comprehensive Income (Loss)
 6 Months Ended
Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income (Loss)
Components of our accumulated other comprehensive income (loss), after tax, and related changes are as follows:

Net Unrealized Gain on SecuritiesNet Gain on HedgesForeign Currency Translation AdjustmentUnrecognized Pension and Postretirement Benefit CostsTotal
(in millions of dollars)
Balance at March 31, 2021$678.2 $77.1 $(254.0)$(526.2)$(24.9)
Other Comprehensive Income (Loss) Before Reclassifications231.4 13.7 9.3 (0.5)253.9 
Amounts Reclassified from Accumulated Other Comprehensive Income or Loss1.8 (13.3)— 4.6 (6.9)
Net Other Comprehensive Income (Loss)233.2 0.4 9.3 4.1 247.0 
Balance at June 30, 2021$911.4 $77.5 $(244.7)$(522.1)$222.1 
Balance at March 31, 2020$395.3 $210.6 $(345.2)$(477.8)$(217.1)
Other Comprehensive Income (Loss) Before Reclassifications563.6 (9.3)(3.0)0.2 551.5 
Amounts Reclassified from Accumulated Other Comprehensive Income or Loss4.2 (15.1)— 3.7 (7.2)
Net Other Comprehensive Income (Loss)567.8 (24.4)(3.0)3.9 544.3 
Balance at June 30, 2020$963.1 $186.2 $(348.2)$(473.9)$327.2 
Balance at December 31, 2020$1,067.7 $97.8 $(261.3)$(530.0)$374.2 
Other Comprehensive Income (Loss) Before Reclassifications(215.8)6.9 16.6 (1.0)(193.3)
Amounts Reclassified from Accumulated Other Comprehensive Income or Loss59.5 (27.2)— 8.9 41.2 
Net Other Comprehensive Income (Loss)(156.3)(20.3)16.6 7.9 (152.1)
Balance at June 30, 2021$911.4 $77.5 $(244.7)$(522.1)$222.1 
Balance at December 31, 2019$615.9 $187.8 $(281.6)$(484.8)$37.3 
Other Comprehensive Income (Loss) Before Reclassifications300.4 28.4 (66.6)3.3 265.5 
Amounts Reclassified from Accumulated Other Comprehensive Income or Loss46.8 (30.0)— 7.6 24.4 
Net Other Comprehensive Income (Loss)347.2 (1.6)(66.6)10.9 289.9 
Balance at June 30, 2020$963.1 $186.2 $(348.2)$(473.9)$327.2 
The net unrealized gain on securities consists of the following components:

Change at June 30, 2021
June 30March 31December 31Three Months
Six Months
202120212020EndedEnded
(in millions of dollars)
Fixed Maturity Securities$6,603.1 $5,517.4 $7,597.6 $1,085.7 $(994.5)
Deferred Acquisition Costs(79.8)(66.6)(85.1)(13.2)5.3 
Reserves for Future Policy and Contract Benefits(5,386.6)(4,588.9)(6,225.6)(797.7)839.0 
Reinsurance Recoverable152.8 133.3 200.2 19.5 (47.4)
Income Tax(378.1)(317.0)(419.4)(61.1)41.3 
Total$911.4 $678.2 $1,067.7 $233.2 $(156.3)

Change at June 30, 2020
June 30March 31December 31Three Months
Six Months
202020202019EndedEnded
(in millions of dollars)
Fixed Maturity Securities$7,422.8 $4,261.2 $6,364.4 $3,161.6 $1,058.4 
Deferred Acquisition Costs(69.4)(37.4)(62.7)(32.0)(6.7)
Reserves for Future Policy and Contract Benefits(6,459.8)(3,899.5)(5,803.1)(2,560.3)(656.7)
Reinsurance Recoverable464.5 322.7 424.7 141.8 39.8 
Income Tax(395.0)(251.7)(307.4)(143.3)(87.6)
Total$963.1 $395.3 $615.9 $567.8 $347.2 
Amounts reclassified from accumulated other comprehensive income (loss) were recognized in our consolidated statements of income as follows:

Three Months Ended June 30Six Months Ended June 30
2021202020212020
(in millions of dollars)
Net Unrealized Gain on Securities
Net Realized Investment Gain (Loss)
Gain (Loss) on Sales of Securities$(0.6)$— $67.7 $— 
Credit Losses on Fixed Maturity Securities(1.0)(5.4)(9.3)(59.3)
Loss on Benefits and Change in Reserves for Future Benefits— — (133.1)— 
(1.6)(5.4)(74.7)(59.3)
Income Tax Expense (Benefit)0.2 (1.2)(15.2)(12.5)
Total$(1.8)$(4.2)$(59.5)$(46.8)
Net Gain on Hedges
Net Investment Income
Gain on Interest Rate Swaps and Forwards$16.4 $18.9 $31.7 $37.7 
Gain on Foreign Exchange Contracts0.4 0.5 0.9 1.0 
Net Realized Investment Gain
Gain on Interest Rate Swaps— 0.4 1.8 0.4 
Interest and Debt Expense
Loss on Interest Rate Swaps— (0.5)— (1.1)
16.8 19.3 34.4 38.0 
Income Tax Expense3.5 4.2 7.2 8.0 
Total$13.3 $15.1 $27.2 $30.0 
Unrecognized Pension and Postretirement Benefit Costs
Other Expenses
Amortization of Net Actuarial Loss$(5.8)$(4.9)$(11.4)$(9.9)
Amortization of Prior Service Credit— — 0.1 0.1 
(5.8)(4.9)(11.3)(9.8)
Income Tax Benefit(1.2)(1.2)(2.4)(2.2)
Total$(4.6)$(3.7)$(8.9)$(7.6)