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Other Comprehensive Income (Tables)
 9 Months Ended
Sep. 30, 2014
Other Comprehensive Income [Abstract]  
Other comprehensive income
Our other comprehensive income for the three and nine months ended September 30, 2014 and 2013 was as follows:

  
Three Months Ended
September 30, 2014
 
  
Before tax
  
Tax effect
  
Valuation
allowance
  
Net of tax
 
 
(In thousands)
 
         
Other comprehensive income (loss):
        
Change in unrealized gains and losses on investments
 
$
(17,377
)
 
$
6,069
  
$
(5,993
)
 
$
(17,301
)
Benefit plan adjustments
  
(1,732
)
  
606
   
(606
)
  
(1,732
)
Unrealized foreign currency translation adjustment
  
(3,835
)
  
1,345
   
-
   
(2,490
)
                 
Other comprehensive income (loss)
 
$
(22,944
)
 
$
8,020
  
$
(6,599
)
 
$
(21,523
)
                          
  
Nine Months Ended
September 30, 2014
 
  
Before tax
  
Tax effect
  
Valuation
allowance
  
Net of tax
 
 
(In thousands)
 
         
Other comprehensive income (loss):
        
Change in unrealized gains and losses on investments
 
$
67,102
  
$
(23,436
)
 
$
23,132
  
$
66,798
 
Benefit plan adjustments
  
(5,198
)
  
1,819
   
(1,819
)
  
(5,198
)
Unrealized foreign currency translation adjustment
  
(1,000
)
  
350
   
-
   
(650
)
                 
Other comprehensive income (loss)
 
$
60,904
  
$
(21,267
)
 
$
21,313
  
$
60,950
 

  
Three Months Ended
September 30, 2013
 
  
Before tax
  
Tax effect
  
Valuation
allowance
  
Net of tax
 
 
(In thousands)
 
         
Other comprehensive income (loss):
        
Change in unrealized gains and losses on investments
 
$
7,163
  
$
(2,526
)
 
$
2,640
  
$
7,277
 
Unrealized foreign currency translation adjustment
  
2,901
   
(1,016
)
  
-
   
1,885
 
                 
Other comprehensive income (loss)
 
$
10,064
  
$
(3,542
)
 
$
2,640
  
$
9,162
 
 
  
Nine Months Ended
September 30, 2013
 
  
Before tax
  
Tax effect
  
Valuation
allowance
  
Net of tax
 
 
(In thousands)
 
         
Other comprehensive income (loss):
        
Change in unrealized gains and losses on investments
 
$
(102,468
)
 
$
35,586
  
$
(33,914
)
 
$
(100,796
)
Unrealized foreign currency translation adjustment
  
(15,868
)
  
5,557
   
-
   
(10,311
)
                 
Other comprehensive income (loss)
 
$
(118,336
)
 
$
41,143
  
$
(33,914
)
 
$
(111,107
)
Accumulated other comprehensive income (loss)
Total accumulated other comprehensive income and changes in accumulated other comprehensive income, including amounts reclassified from other comprehensive income, are included in the table below.
 
  
Three Months Ended
September 30, 2014
 
  
Unrealized gains and
losses on available-
for-sale securities
  
Defined benefit
plans
  
Foreign currency
translation
  
Total
 
  
(In thousands)
 
         
Balance at June 30, 2014, before tax
 
$
(155
)
 
$
(7,232
)
 
$
14,019
  
$
6,632
 
                 
Other comprehensive income (loss) before reclassifications
  
(18,217
)
  
-
   
(3,835
)
  
(22,052
)
Amounts reclassified from accumulated other comprehensive income (loss)
  
(840
)(1)
  
1,732
(2)
  
-
   
892
 
                 
Net current period other comprehensive income (loss)
  
(17,377
)
  
(1,732
)
  
(3,835
)
  
(22,944
)
                 
Balance at September 30, 2014, before tax
 
$
(17,532
)
 
$
(8,964
)
 
$
10,184
  
$
(16,312
)

  
Nine Months Ended
September 30, 2014
 
  
Unrealized gains and
losses on available-
for-sale securities
  
Defined benefit
plans
  
Foreign currency
translation
  
Total
 
  
(In thousands)
 
         
Balance at December 31, 2013, before tax
 
$
(84,634
)
 
$
(3,766
)
 
$
11,184
  
$
(77,216
)
                 
Other comprehensive income (loss) before reclassifications
  
56,332
   
-
   
(1,000
)
  
55,332
 
Amounts reclassified from accumulated other comprehensive income (loss)
  
(10,770
)(1)
  
5,198
(2)
  
-
   
(5,572
)
                 
Net current period other comprehensive income (loss)
  
67,102
   
(5,198
)
  
(1,000
)
  
60,904
 
                 
Balance at September 30, 2014, before tax
  
(17,532
)
  
(8,964
)
  
10,184
   
(16,312
)
                 
Tax effect (3)
  
(64,360
)
  
26,940
   
(3,044
)
  
(40,464
)
                 
Balance at September 30, 2014, net of tax
 
$
(81,892
)
 
$
17,976
  
$
7,140
  
$
(56,776
)
 
  
Three Months Ended
September 30, 2013
 
  
Unrealized gains and
losses on available-
for-sale securities
  
Defined benefit
plans
  
Foreign currency
translation
  
Total
 
  
(In thousands)
 
         
Balance at June 30, 2013, before tax
 
$
(68,090
)
 
$
(71,804
)
 
$
13,978
  
$
(125,916
)
                 
Other comprehensive income (loss) before reclassifications
  
4,396
   
-
   
2,901
   
7,297
 
Amounts reclassified from accumulated other comprehensive income (loss)
  
(2,767
)(1)
  
-
       
(2,767
)
           
-
     
Net current period other comprehensive income (loss)
  
7,163
   
-
   
2,901
   
10,064
 
                 
Balance at September 30, 2013, before tax
 
$
(60,927
)
 
$
(71,804
)
 
$
16,879
  
$
(115,852
)

  
Nine Months Ended
September 30, 2013
 
  
Unrealized gains and
losses on available-
for-sale securities
  
Defined benefit
plans
  
Foreign currency
translation
  
Total
 
  
(In thousands)
 
         
Balance at December 31, 2012, before tax
 
$
41,541
  
$
(71,804
)
 
$
32,747
  
$
2,484
 
                 
Other comprehensive income (loss) before reclassifications
  
(95,588
)
  
-
   
(15,868
)
  
(111,456
)
Amounts reclassified from accumulated other comprehensive income (loss)
  
6,880
(1)
  
-
       
6,880
 
           
-
     
Net current period other comprehensive income (loss)
  
(102,468
)
  
-
   
(15,868
)
  
(118,336
)
                 
Balance at September 30, 2013, before tax
  
(60,927
)
  
(71,804
)
  
16,879
   
(115,852
)
                 
Tax effect (3)
  
(64,968
)
  
26,940
   
(5,390
)
  
(43,418
)
                 
Balance at September 30, 2013, net of tax
 
$
(125,895
)
 
$
(44,864
)
 
$
11,489
  
$
(159,270
)
 
(1)During the three and nine months ended September 30, 2014, net unrealized losses of ($0.8) million and ($10.8) million, respectively, were reclassified to the Consolidated Statement of Operations and included in Realized investment gains, net. During the three and nine months ended September 30, 2013, net unrealized (losses) gains of ($2.8) million and $6.9 million, respectively were reclassified to the Consolidated Statement of Operations and included in Realized investment gains, net.
(2)During the three and nine months ended September 30, 2014, other comprehensive income related to benefit plans of $1.7 million and $5.2 million, respectively, was reclassified to the Consolidated Statement of Operations and included in Underwriting and other expenses, net.
(3)Tax effect does not approximate 35% due to amounts of tax benefits not provided in various periods due to our tax valuation allowance.

Total accumulated other comprehensive income at December 31, 2013 is included in the table below.
 
  
Unrealized gains and
losses on available-
for-sale securities
  
Defined benefit
plans
  
Foreign currency
translation
  
Total
 
 
(In thousands)
 
         
         
Balance at December 31, 2013, before tax
 $
(84,634
)
 $
(3,766
)
 $
11,184
  $
(77,216
)
                 
Tax effect (1)
  
(64,056
)
  
26,940
   
(3,394
)
  
(40,510
)
                 
Balance at December 31, 2013, net of tax
 
$
(148,690
)
 
$
23,174
  
$
7,790
  
$
(117,726
)

(1) Tax effect does not approximate 35% due to amounts of tax benefits not provided in various periods due to our tax valuation allowance.