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Other Comprehensive Income (Tables)
 9 Months Ended
Sep. 30, 2019
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, 2019 and 2018 are included in table 9.1 below.
Components of other comprehensive income (loss)
 
 
 
 
Table
9.1
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In thousands)
 
2019
 
2018
 
2019
 
2018
Net unrealized investment gains (losses) arising during the period
 
$
39,712

 
$
(15,288
)
 
$
231,895

 
$
(109,433
)
Income tax (expense) benefit
 
(8,340
)
 
3,211

 
(48,698
)
 
22,981

Net of taxes
 
31,372

 
(12,077
)
 
183,197

 
(86,452
)
 
 
 
 
 
 
 
 
 
Net changes in benefit plan assets and obligations
 
2,024

 
558

 
6,074

 
1,674

Income tax expense
 
(424
)
 
(118
)
 
(1,275
)
 
(352
)
Net of taxes
 
1,600

 
440

 
4,799

 
1,322

 
 
 
 
 
 
 
 
 
Total other comprehensive income (loss)
 
41,736

 
(14,730
)
 
237,969

 
(107,759
)
Total income tax (expense) benefit
 
(8,764
)
 
3,093

 
(49,973
)
 
22,629

Total other comprehensive income (loss), net of tax
 
$
32,972

 
$
(11,637
)
 
$
187,996

 
$
(85,130
)
Reclassification out of accumulated other comprehensive income
The pretax and related income tax benefit (expense) components of the amounts reclassified from our accumulated other comprehensive income (loss) (“AOCI”) to our consolidated statements of operations for the three and nine months ended September 30, 2019 and 2018 are included in table 9.2 below.
Reclassifications from AOCI
 
 
 
 
Table
9.2
 
 
 
 
 
 
 
 
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In thousands)
 
2019
 
2018
 
2019
 
2018
Reclassification adjustment for net realized gains (losses) (1)
 
$
2,772

 
$
(2,567
)
 
$
1,794

 
$
(6,279
)
Income tax (expense) benefit
 
(582
)
 
539

 
(376
)
 
1,318

Net of taxes
 
2,190

 
(2,028
)
 
1,418

 
(4,961
)
 
 
 
 
 
 
 
 
 
Reclassification adjustment related to benefit plan assets and obligations (2)
 
(2,024
)
 
(558
)
 
(6,074
)
 
(1,674
)
Income tax benefit
 
424

 
118

 
1,275

 
352

Net of taxes
 
(1,600
)
 
(440
)
 
(4,799
)
 
(1,322
)
 
 
 
 
 
 
 
 
 
Total reclassifications
 
748

 
(3,125
)
 
(4,280
)
 
(7,953
)
Total income tax (expense) benefit
 
(158
)
 
657

 
899

 
1,670

Total reclassifications, net of tax
 
$
590

 
$
(2,468
)
 
$
(3,381
)
 
$
(6,283
)

(1) 
Increases (decreases) Net realized investment (losses) gains on the consolidated statements of operations.
(2) 
Decreases (increases) Other underwriting and operating expenses, net on the consolidated statements of operations.
Accumulated other comprehensive income (loss)
A rollforward of AOCI for the nine months ended September 30, 2019, including amounts reclassified from AOCI, are included in table 9.3 below.
Rollforward of AOCI
Table
9.3
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2019
(In thousands)
 
Net unrealized gains and (losses) on available-for-sale securities
 
Net benefit plan assets and (obligations) recognized in shareholders' equity
 
Total accumulated other comprehensive income (loss)
Balance, December 31, 2018, net of tax
 
$
(35,389
)
 
$
(88,825
)
 
$
(124,214
)
Other comprehensive income before reclassifications
 
184,615

 
—

 
184,615

Less: Amounts reclassified from AOCI
 
1,418

 
(4,799
)
 
(3,381
)
Balance, September 30, 2019, net of tax
 
$
147,808

 
$
(84,026
)
 
$
63,782