Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2022

Statement of Comprehensive Income [Abstract]

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss)

The tables below display the changes in Accumulated Other Comprehensive Income (Loss) by component for the nine months ended September 30, 2022 and 2021.

(Dollars in Millions)	Net Unrealized Gains (Losses) on Other Investments	Net Unrealized Gains (Losses) on Investments with an Allowance for Credit Losses	Net Unrecognized Postretirement Benefit Costs	Gain (Loss) on Cash Flow Hedges	Total
Balance as of January 1, 2022	505.8	(3.7)	(52.1)	(1.9)	448.1
Other Comprehensive Income (Loss) Before Reclassifications	(1,281.0)	(1.0)	—	4.7	(1,277.3)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) Net of Tax (Expense) Benefit of $4.5, $—, $—, $— and $4.5	(17.2)	—	(0.2)	—	(17.4)
Other Comprehensive Income (Loss) Net of Tax (Expense) Benefit of $345.0, $0.3, $0.1, $(1.2) and $344.2	(1,298.2)	(1.0)	(0.2)	4.7	(1,294.7)
Balance as of September 30, 2022	(792.4)	(4.7)	(52.3)	2.8	(846.6)

Note 11 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) (Continued)

(Dollars in Millions)	Net Unrealized Gains (Losses) on Other Investments	Net Unrealized Gains (Losses) on Investments with an Allowance for Credit Losses	Net Unrecognized Postretirement Benefit Costs	Gain (Loss) on Cash Flow Hedges	Total
Balance as of January 1, 2021	730.6	(2.1)	(45.7)	(2.3)	680.5
Other Comprehensive Income (Loss) Before Reclassifications	(172.8)	(1.5)	—	—	(174.3)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) Net of Tax (Expense) Benefit of $7.4, $—, $0.5, $(0.1) and $7.8	(27.8)	—	0.7	0.3	(26.8)
Other Comprehensive Income (Loss) Net of Tax (Expense) Benefit of $53.4, $0.4, $0.5, $(0.1) and $54.2	(200.6)	(1.5)	0.7	0.3	(201.1)
Balance as of September 30, 2021	530.0	(3.6)	(45.0)	(2.0)	479.4

The tables below display the changes in Accumulated Other Comprehensive Income (Loss) by component for the three months ended September 30, 2022 and 2021.

(Dollars in Millions)	Net Unrealized Gains (Losses) on Other Investments	Net Unrealized Gains (Losses) on Investments with an Allowance for Credit Losses	Net Unrecognized Postretirement Benefit Costs	Gain (Loss) on Cash Flow Hedges	Total
Balance as of June 30, 2022	(467.3)	(4.1)	(52.2)	2.8	(520.8)
Other Comprehensive Income (Loss) Before Reclassifications	(309.0)	(0.6)	—	—	(309.6)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) Net of Tax (Expense) Benefit of $4.3, $—, $—, $— and $4.3	(16.1)	—	(0.1)	—	(16.2)
Other Comprehensive Income (Loss) Net of Tax (Expense) Benefit of $86.4, $0.2, $0.1, $— and $86.7	(325.1)	(0.6)	(0.1)	—	(325.8)
Balance as of September 30, 2022	(792.4)	(4.7)	(52.3)	2.8	(846.6)

Note 11 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) (Continued)

(Dollars in Millions)	Net Unrealized Gains (Losses) on Other Investments	Net Unrealized Gains (Losses) on Investments with an Allowance for Credit Losses	Net Unrecognized Postretirement Benefit Costs	Gain (Loss) on Cash Flow Hedges	Total
Balance as of June 30, 2021	594.0	(4.0)	(44.9)	(2.1)	543.0
Other Comprehensive Income (Loss) Before Reclassifications	(56.5)	0.4	—	—	(56.1)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) Net of Tax (Expense) Benefit of $2.0, $—,$0.1, $(0.1) and $2.0	(7.5)	—	(0.1)	0.1	(7.5)
Other Comprehensive Income (Loss) Net of Tax (Expense) Benefit of $16.8, $(0.1), $0.1, $(0.1) and $16.7	(64.0)	0.4	(0.1)	0.1	(63.6)
Balance as of September 30, 2021	530.0	(3.6)	(45.0)	(2.0)	479.4

Amounts reclassified from Accumulated Other Comprehensive Income (Loss) shown above are reported in Net Income (Loss) as follows:

Components of AOCI	Consolidated Statements of Income Line Item Affected by Reclassifications
Net Unrealized Gains (Losses) on Other Investments and Net Unrealized Gains (Losses) on Investments with an Allowance for Credit Losses	Net Realized Investment Gains (Losses) and Impairment Losses
Net Unrecognized Postretirement Benefit Costs	Policyholders’ Benefits and Incurred Losses and Loss Adjustment Expenses, Insurance Expenses, and Interest and Other Expenses
Gain (Loss) on Cash Flow Hedges	Interest and Other Expenses