Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2021

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

Other comprehensive income

The pretax components of our other comprehensive income (loss) and related income tax (expense) benefit for the years ended December 31, 2021, 2020 and 2019 are included in table 10.1 below.

Components of other comprehensive income (loss)
Table	10.1
(In thousands)		2021		2020		2019
Net unrealized investment (losses) gains on securities without an allowance for credit losses		$	(154,555)	$	169,135	$	220,139
Income tax benefit (expense)		32,456		(35,519)		(46,229)
Net of taxes		(122,099)		133,616		173,910
Net changes in benefit plan assets and obligations		31,613		13,288		29,129
Income tax benefit (expense)		(6,638)		(2,791)		(6,117)
Net of taxes		24,975		10,497		23,012
Total other comprehensive income (loss)		(122,942)		182,423		249,268
Total income tax benefit (expense)		25,818		(38,310)		(52,346)
Total other comprehensive income (loss), net of tax		$	(97,124)	$	144,113	$	196,922

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", "AOCL") to our consolidated statements of operations for the years ended December 31, 2021, 2020 and 2019 are included in table 10.2 below.

Reclassifications from Accumulated Other Comprehensive Income (Loss)
Table	10.2
(In thousands)		2021		2020		2019
Reclassification adjustment for net realized (losses) gains included in net income (1)		$	10,455	$	13,862	$	3,637
Income tax benefit (expense)		(2,195)		(2,912)		(763)
Net of taxes		8,260		10,950		2,874
Reclassification adjustment related to benefit plan assets and obligations (2)		(9,779)		(15,968)		(8,097)
Income tax benefit (expense)		2,053		3,353		1,701
Net of taxes		(7,726)		(12,615)		(6,396)
Total reclassifications		676		(2,106)		(4,460)
Income tax benefit (expense)		(142)		441		938
Total reclassifications, net of tax		$	534	$	(1,665)	$	(3,522)

(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.

Accumulated other comprehensive income (loss)

A roll-forward of AOCI (AOCL) for the years ended December 31, 2021, 2020, and 2019, 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		Total AOCL
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
Other comprehensive income (loss) before reclassifications		144,566		(2,118)		142,448
Less: Amounts reclassified from AOCL		10,950		(12,615)		(1,665)
Balance, December 31, 2020, net of tax		272,137		(55,316)		216,821
Other comprehensive income (loss) before reclassifications		(113,839)		17,249		(96,590)
Less: Amounts reclassified from AOCL		8,260		(7,726)		534
Balance, December 31, 2021, net of tax		$	150,038	$	(30,341)	$	119,697