Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2019

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Other Comprehensive Income (Loss)

NOTE 10 Other Comprehensive Income (Loss)

The pretax components of our other comprehensive income (loss) and related income tax (expense) benefit for the years ended December 31, 2019, 2018 and 2017 are included in table 10.1 below.

Components of other comprehensive income (loss)
Table	10.1
(In thousands)		2019			2018			2017
Net unrealized investment gains (losses) arising during the year		$	220,139		$	(81,834	)	$	69,052
Income tax (expense) benefit		(46,229		)	17,188			(21,505		)
Net of taxes		173,910			(64,646		)	47,547
Net changes in benefit plan assets and obligations		29,129			(19,958		)	(8,983		)
Income tax (expense) benefit		(6,117		)	4,191			3,144
Net of taxes		23,012			(15,767		)	(5,839		)
Net changes in unrealized foreign currency translation adjustment		—			—			45
Income tax benefit (expense)		—			—			(14		)
Net of taxes		—			—			31
Total other comprehensive income (loss)		249,268			(101,792		)	60,114
Total income tax (expense) benefit, net		(52,346		)	21,379			(18,375		)
Total other comprehensive income (loss), net of tax		$	196,922		$	(80,413	)	$	41,739

The pretax and related income tax benefit (expense) components of the amounts reclassified from our accumulated other comprehensive income (loss) ( "AOCI", "AOCL") to our consolidated statements of operations for the years ended December 31, 2019, 2018 and 2017 are included in table 10.2 below.

Reclassifications from Accumulated Other Comprehensive Income (Loss)
Table	10.2
(In thousands)		2019			2018			2017
Reclassification adjustment for net realized (losses) gains included in net income (1)		$	3,637		$	(7,037	)	$	(2,580	)
Income tax (expense) benefit		(763		)	1,477			903
Net of taxes		2,874			(5,560		)	(1,677		)
Reclassification adjustment related to benefit plan assets and obligations (2)		(8,097		)	(2,232		)	906
Income tax benefit (expense)		1,701			469			(317		)
Net of taxes		(6,396		)	(1,763		)	589
Total reclassifications		(4,460		)	(9,269		)	(1,674		)
Total income tax benefit, net		938			1,946			586
Total reclassifications, net of tax		$	(3,522	)	$	(7,323	)	$	(1,088	)

⁽¹⁾  (Decreases) increases Net realized investment gains on the consolidated statements of operations.

⁽²⁾  Decreases (increases) Other underwriting and operating expenses, net on the consolidated statements of operations.

A roll-forward of AOCI (AOCL) for the years ended December 31, 2019, 2018, and 2017, including amounts reclassified from AOCI (AOCL), is included in table 10.3 below.

Roll-forward of Accumulated Other Comprehensive Income (Loss)
Table	10.3
(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 AOCL
Balance, December 31, 2016, net of tax		$	(20,797	)	$	(54,272	)	$	(31	)	$	(75,100	)
Other comprehensive income (loss) before reclassifications		45,870			(5,250		)	31			40,651
Less: Amounts reclassified from AOCL		(1,677		)	589			—			(1,088		)
Less: Amounts reclassified for lower enacted corporate tax rate		(2,525		)	12,947			—			10,422
Balance, December 31, 2017, net of tax		29,275			(73,058		)	—			(43,783		)
Cumulative effect of adopting the accounting standard update for financial instruments		(18		)	—			—			(18		)
Other comprehensive income (loss) before reclassifications		(70,206		)	(17,530		)	—			(87,736		)
Less: Amounts reclassified from AOCL		(5,560		)	(1,763		)	—			(7,323		)
Balance, December 31, 2018, net of tax		(35,389		)	(88,825		)	—			(124,214		)
Other comprehensive income (loss) before reclassifications		176,784			16,616			—			193,400
Less: Amounts reclassified from AOCL		2,874			(6,396		)	—			(3,522		)
Balance, December 31, 2019, net of tax		$	138,521		$	(65,813	)	$	—		72,708