Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2024

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

Accumulated Other Comprehensive Income (Loss)

Components of our accumulated other comprehensive loss, after tax, and related changes are as follows:

	Net Unrealized Loss on Securities		Effect of Change in Discount Rate Assumptions on the LFPB1		Net Gain (Loss) on Derivatives		Foreign Currency Translation Adjustment		Unrecognized Pension and Postretirement Benefit Costs		Total
	(in millions of dollars)
Balance at March 31, 2024	$	(2,360.8)	$	225.3	$	(127.0)	$	(332.6)	$	(344.9)	$	(2,940.0)
Other Comprehensive Income (Loss) Before Reclassifications	(370.6)		487.0		(34.2)		4.2		—		86.4
Amounts Reclassified from Accumulated Other Comprehensive Income or Loss	7.6		—		(3.4)		—		3.2		7.4
Net Other Comprehensive Income (Loss)	(363.0)		487.0		(37.6)		4.2		3.2		93.8
Balance at June 30, 2024	$	(2,723.8)	$	712.3	$	(164.6)	$	(328.4)	$	(341.7)	$	(2,846.2)
Balance at March 31, 2023	$	(2,205.2)	$	(260.0)	$	7.8	$	(365.4)	$	(339.5)	$	(3,162.3)
Other Comprehensive Income (Loss) Before Reclassifications	(565.5)		260.1		(34.1)		38.3		3.3		(297.9)
Amounts Reclassified from Accumulated Other Comprehensive Income or Loss	8.1		—		(7.0)		—		1.5		2.6
Net Other Comprehensive Income (Loss)	(557.4)		260.1		(41.1)		38.3		4.8		(295.3)
Balance at June 30, 2023	$	(2,762.6)	$	0.1	$	(33.3)	$	(327.1)	$	(334.7)	$	(3,457.6)
Balance at December 31, 2023	$	(1,919.1)	$	(648.4)	$	(73.7)	$	(321.1)	$	(345.7)	$	(3,308.0)
Other Comprehensive Income (Loss) Before Reclassifications	(824.7)		1,360.7		(83.1)		(7.3)		(2.4)		443.2
Amounts Reclassified from Accumulated Other Comprehensive Income or Loss	20.0		—		(7.8)		—		6.4		18.6
Net Other Comprehensive Income (Loss)	(804.7)		1,360.7		(90.9)		(7.3)		4.0		461.8
Balance at June 30, 2024	$	(2,723.8)	$	712.3	$	(164.6)	$	(328.4)	$	(341.7)	$	(2,846.2)
Balance at December 31, 2022	$	(3,028.4)	$	313.9	$	(9.6)	$	(390.1)	$	(334.1)	$	(3,448.3)
Other Comprehensive Income (Loss) Before Reclassifications	257.9		(313.8)		(8.5)		63.0		(3.4)		(4.8)
Amounts Reclassified from Accumulated Other Comprehensive Income or Loss	7.9		—		(15.2)		—		2.8		(4.5)
Net Other Comprehensive Income (Loss)	265.8		(313.8)		(23.7)		63.0		(0.6)		(9.3)
Balance at June 30, 2023	$	(2,762.6)	$	0.1	$	(33.3)	$	(327.1)	$	(334.7)	$	(3,457.6)
1Liability for Future Policy Benefits

Amounts reclassified from accumulated other comprehensive loss were recognized in our consolidated statements of income as follows:

	Three Months Ended June 30				Six Months Ended June 30
	2024		2023		2024		2023
	(in millions of dollars)
Net Unrealized Loss on Securities
Net Investment Loss
Net Loss on Sales of Securities	$	(5.4)	$	(10.3)	$	(21.2)	$	(10.0)
Impairment Loss	(1.2)		—		(1.2)		—
Change in Allowance for Credit Losses	(2.9)		—		(2.9)		—
	(9.5)		(10.3)		(25.3)		(10.0)
Income Tax Benefit	(1.9)		(2.2)		(5.3)		(2.1)
Total	$	(7.6)	$	(8.1)	$	(20.0)	$	(7.9)
Net Gain (Loss) on Derivatives
Net Investment Income
Gain on Interest Rate Swaps and Forwards	$	4.6	$	8.9	$	10.4	$	19.3
Loss on Foreign Currency Interest Rate Swaps	—		(0.1)		(0.1)		(0.1)
Net Investment Gain
Gain (Loss) on Foreign Currency Interest Rate Swaps	(0.4)		0.1		(0.5)		0.1
	4.2		8.9		9.8		19.3
Income Tax Expense	0.8		1.9		2.0		4.1
Total	$	3.4	$	7.0	$	7.8	$	15.2
Unrecognized Pension and Postretirement Benefit Costs
Other Expenses
Amortization of Net Actuarial Loss	$	(3.9)	$	(1.8)	$	(8.2)	$	(3.6)
Amortization of Prior Service Credit	—		—		0.1		0.1
	(3.9)		(1.8)		(8.1)		(3.5)
Income Tax Benefit	(0.7)		(0.3)		(1.7)		(0.7)
Total	$	(3.2)	$	(1.5)	$	(6.4)	$	(2.8)