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Other Comprehensive Income (Tables)
 9 Months Ended
Sep. 30, 2016
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Other comprehensive income
The pretax and related income tax (expense) benefit components of our other comprehensive income (loss) for the three and nine months ended September 30, 2016 and 2015 are included in the following table.
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In thousands)
 
2016
 
2015
 
2016
 
2015
Net unrealized holding (losses) gains arising during the period
 
$
(22,206
)
 
$
27,271

 
$
142,852

 
$
(17,126
)
Income tax benefit (expense)
 
7,772

 
(9,531
)
 
(50,121
)
 
5,955

Valuation allowance (1)
 
—

 
77,555

 
—

 
62,383

Net of taxes
 
(14,434
)
 
95,295

 
92,731

 
51,212

 
 
 
 
 
 
 
 
 
Net changes in benefit plan assets and obligations
 
(370
)
 
(546
)
 
(1,110
)
 
(1,638
)
Income tax benefit
 
129

 
192

 
388

 
574

Valuation allowance (1)
 
—

 
(7,001
)
 
—

 
(7,383
)
Net of taxes
 
(241
)
 
(7,355
)
 
(722
)
 
(8,447
)
 
 
 
 
 
 
 
 
 
Net changes in unrealized foreign currency translation adjustment
 
(16
)
 
(3,724
)
 
(1,496
)
 
(6,228
)
Income tax benefit
 
6

 
1,306

 
522

 
2,186

Valuation allowance (1)
 
—

 
(529
)
 
—

 
(529
)
Net of taxes
 
(10
)
 
(2,947
)
 
(974
)
 
(4,571
)
 
 
 
 
 
 
 
 
 
Total other comprehensive (loss) income
 
(22,592
)
 
23,001

 
140,246

 
(24,992
)
Total income tax benefit (expense), net of valuation allowance
 
7,907

 
61,992

 
(49,211
)
 
63,186

Total other comprehensive (loss) income, net of tax
 
$
(14,685
)
 
$
84,993

 
$
91,035

 
$
38,194

(1) 
See Note 11 – “Income Taxes” for a discussion of the valuation allowance recorded against deferred tax assets.
Reclassification out of accumulated other comprehensive income
The pretax and related income tax (expense) benefit components of the amounts reclassified from our accumulated other comprehensive loss to our consolidated statements of operations for the three and nine months ended September 30, 2016 and 2015 are included in the following table.
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In thousands)
 
2016
 
2015
 
2016
 
2015
Reclassification adjustment for net realized gains (losses) (1)
 
$
5,248

 
$
(1,120
)
 
$
5,958

 
$
10,591

Income tax (expense) benefit
 
(1,837
)
 
395

 
(1,963
)
 
(3,697
)
Valuation allowance (2)
 
—

 
(413
)
 
—

 
3,635

Net of taxes
 
3,411

 
(1,138
)
 
3,995

 
10,529

 
 
 
 
 
 
 
 
 
Reclassification adjustment related to benefit plan assets and obligations (3)
 
370

 
546

 
1,110

 
1,638

Income tax expense
 
(129
)
 
(192
)
 
(388
)
 
(574
)
Valuation allowance (2)
 
—

 
192

 
—

 
574

Net of taxes
 
241

 
546

 
722

 
1,638

 
 
 
 
 
 
 
 
 
Reclassification adjustment related to foreign currency (4)
 
—

 
—

 
1,467

 
—

Income tax expense
 
—

 
—

 
(513
)
 
—

Net of taxes
 
—

 
—

 
954

 
—

 
 
 
 
 
 
 
 
 
Total reclassifications
 
5,618

 
(574
)
 
8,535

 
12,229

Total income tax expense, net of valuation allowance
 
(1,966
)
 
(18
)
 
(2,864
)
 
(62
)
Total reclassifications, net of tax
 
$
3,652

 
$
(592
)
 
$
5,671

 
$
12,167


(1) 
Increases (decreases) Net realized investment gains on the consolidated statements of operations.
(2) 
See Note 11 – “Income Taxes” for a discussion of the valuation allowance recorded against deferred tax assets.
(3) 
Decreases (increases) Other underwriting and operating expenses, net on the consolidated statements of operations.
(4) 
Increases (decreases) Other revenue on the consolidated statements of operations.
Accumulated other comprehensive income (loss)
Changes in our accumulated other comprehensive income (loss), including amounts reclassified from other comprehensive income (loss), for the nine months ended September 30, 2016 are included in the table below.
 
 
Nine Months Ended September 30, 2016
(In thousands)
 
Net unrealized gains and losses on available-for-sale securities
 
Net benefit plan assets and obligations recognized in shareholders' equity
 
Net unrealized foreign currency translation
 
Total accumulated other comprehensive income (loss)
Balance at December 31, 2015, net of tax
 
$
(17,148
)
 
$
(44,652
)
 
$
920

 
$
(60,880
)
Other comprehensive income (loss) before reclassifications
 
96,726

 
—

 
(20
)
 
96,706

Less: Amounts reclassified from accumulated other comprehensive income (loss)
 
3,995

 
722

 
954

 
5,671

Balance at September 30, 2016, net of tax
 
$
75,583

 
$
(45,374
)
 
$
(54
)
 
$
30,155