Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2023

Other Comprehensive Loss and Accumulated Other Comprehensive Loss

The tables below display the changes in Accumulated Other Comprehensive Loss by component for the three months ended March 31, 2023 and 2022.


(Dollars in Millions)	Net Unrealized Losses on Other Investments		Net Unrealized Losses on Investments with an Allowance for Credit Losses		Net Unrecognized Postretirement Benefit Costs		Gain (Loss) on Cash Flow Hedges		Change in Discount Rate on Future Life Policyholder Benefits		Total
Balance as of January 1, 2023	$	(719.4)	$	(2.2)	$	(37.2)	$	2.8	$	241.1	$	(514.9)
Other Comprehensive Income (Loss) Before Reclassifications	147.5		1.4		—		—		(86.7)		62.2
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) Net of Tax (Expense) Benefit of $0.0, $0.4, $(0.1), $0.1, $0.0 and $0.4	(0.1)		(1.4)		(0.4)		(0.1)		—		(2.0)
Other Comprehensive Income (Loss) Net of Tax Benefit (Expense) of $(39.8), $(0.4), $0.0, $0.0, $23.1 and $(17.1)	147.4		—		(0.4)		(0.1)		(86.7)		60.2
Balance as of March 31, 2023	$	(572.0)	$	(2.2)	$	(37.6)	$	2.7	$	154.4	$	(454.7)


(Dollars in Millions)	Net Unrealized Gains (Losses) on Other Investments		Net Unrealized Losses on Investments with an Allowance for Credit Losses		Net Unrecognized Postretirement Benefit Costs		(Loss) Gain on Cash Flow Hedges		Change in Discount Rate on Future Life Policyholder Benefits		Total
Balance as of January 1, 2022, as Reported	$	505.8	$	(3.7)	$	(52.1)	$	(1.9)	$	(849.7)	$	(401.6)


Other Comprehensive (Loss) Income Before Reclassifications	(515.1)		(5.8)		—		4.7		444.2		(72.0)
Amounts Reclassified from Accumulated Other Comprehensive (Loss) Income Net of Tax Benefit (Expense) of $(1.5), $0.0, $0.0, $0.0, $0.0 and $(1.5)	5.8		—		—		—		—		5.8
Other Comprehensive (Loss) Income Net of Tax (Expense) Benefit of $135.2, $1.6, $0.0, $(1.2), $(118.1) and $17.5	(509.3)		(5.8)		—		4.7		444.2		(66.2)
Balance as of March 31, 2022	$	(3.5)	$	(9.5)	$	(52.1)	$	2.8	$	(405.5)	$	(467.8)

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


Components of Accumulated Other Comprehensive Loss			Consolidated Statements of Income Line Item Affected by Reclassifications
Net Unrealized Gains (Losses) on Other Investments and Net Unrealized 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
Change in Discount Rate on Future Life Policyholder Benefits			Not applicable