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Other Comprehensive Income (Tables)
 6 Months Ended
Jun. 30, 2020
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Other comprehensive income
The pretax and related income tax benefit (expense) components of our other comprehensive (loss) income for the three and six months ended June 30, 2020 and 2019 are included in table 9.1 below.
Components of other comprehensive income (loss)
 
 
 
 
Table
9.1
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In thousands)
 
2020
 
2019
 
2020
 
2019
Net unrealized investment gains arising during the period
 
$
181,242

 
$
89,562

 
$
89,362

 
$
192,183

Total income tax benefit (expense)
 
(38,061
)
 
(18,808
)
 
(18,766
)
 
(40,358
)
Net of taxes
 
143,181

 
70,754

 
70,596

 
151,825

 
 
 
 
 
 
 
 
 
Net changes in benefit plan assets and obligations
 
1,275

 
1,961

 
2,669

 
4,050

Total income tax benefit (expense)
 
(268
)
 
(412
)
 
(561
)
 
(851
)
Net of taxes
 
1,007

 
1,549

 
2,108

 
3,199

 
 
 
 
 
 
 
 
 
Total other comprehensive income
 
182,517

 
91,523

 
92,031

 
196,233

Total income tax benefit (expense)
 
(38,329
)
 
(19,220
)
 
(19,327
)
 
(41,209
)
Total other comprehensive income, net of tax
 
$
144,188

 
$
72,303

 
$
72,704

 
$
155,024
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 income (loss) (“AOCI”) to our consolidated statements of operations for the three and six months ended June 30, 2020 and 2019 are included in table 9.2 below.
Reclassifications from AOCI
 
 
 
 
Table
9.2
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In thousands)
 
2020
 
2019
 
2020
 
2019
Reclassification adjustment for net realized (losses) gains(1)
 
$
(6,390
)
 
$
1,701

 
$
(1,676
)
 
$
(978
)
Income tax (expense) benefit
 
1,342

 
(357
)
 
352

 
206

Net of taxes
 
(5,048
)
 
1,344

 
(1,324
)
 
(772
)
 
 
 
 
 
 
 
 
 
Reclassification adjustment related to benefit plan assets and obligations (2)
 
(1,275
)
 
(1,961
)
 
(2,669
)
 
(4,050
)
Income tax (expense) benefit
 
268

 
412

 
561

 
851

Net of taxes
 
(1,007
)
 
(1,549
)
 
(2,108
)
 
(3,199
)
 
 
 
 
 
 
 
 
 
Total reclassifications
 
(7,665
)
 
(260
)
 
(4,345
)
 
(5,028
)
Income tax (expense) benefit
 
1,610

 
55

 
913

 
1,057

Total reclassifications, net of tax
 
$
(6,055
)
 
$
(205
)
 
$
(3,432
)
 
$
(3,971
)

(1) 
(Decreases) Increases Net realized investment gains (losses) 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 six months ended June 30, 2020, including amounts reclassified from AOCI, are included in table 9.3 below.
Rollforward of AOCI
Table
9.3
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2020
(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 at December 31, 2019, net of tax
 
138,521

 
(65,813
)
 
72,708

Other comprehensive income before reclassifications
 
69,272

 
—

 
69,272

Less: Amounts reclassified from AOCI
 
(1,324
)
 
(2,108
)
 
(3,432
)
Balance, June 30, 2020, net of tax
 
$
209,117

 
$
(63,705
)
 
$
145,412