Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2022

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

The following tables show the rollforward of accumulated other comprehensive income (loss) as of the periods indicated.

Rollforward of accumulated other comprehensive income
	Three Months Ended June 30, 2022						Six Months Ended June 30, 2022
(In thousands)	Before Tax		Tax Effect		Net of Tax		Before Tax		Tax Effect		Net of Tax
Balance at beginning of period	$	(163,991)	$	(34,438)	$	(129,553)	$	152,016	$	31,923	$	120,093
Other comprehensive income (loss)
Unrealized holding gains (losses) on investments arising during the period for which an allowance for expected credit losses has not been recognized	(256,538)		(53,873)		(202,665)		(574,629)		(120,672)		(453,957)
Less: Reclassification adjustment for net gains (losses) on investments included in net income (1)
Net realized gains (losses) on disposals and non-credit related impairment losses	(3,940)		(827)		(3,113)		(5,918)		(1,243)		(4,675)
Net unrealized gains (losses) on investments	(252,598)		(53,046)		(199,552)		(568,711)		(119,429)		(449,282)
Other adjustments to comprehensive income (loss), net	—		—		—		106		22		84
Other comprehensive income (loss)	(252,598)		(53,046)		(199,552)		(568,605)		(119,407)		(449,198)
Balance at end of period	$	(416,589)	$	(87,484)	$	(329,105)	$	(416,589)	$	(87,484)	$	(329,105)
	Three Months Ended June 30, 2021						Six Months Ended June 30, 2021
(In thousands)	Before Tax		Tax Effect		Net of Tax		Before Tax		Tax Effect		Net of Tax
Balance at beginning of period	$	147,766	$	31,031	$	116,735	$	333,829	$	70,104	$	263,725
Other comprehensive income (loss)
Unrealized holding gains (losses) on investments arising during the period for which an allowance for expected credit losses has not been recognized	81,617		17,140		64,477		(104,926)		(22,034)		(82,892)
Less: Reclassification adjustment for net gains (losses) on investments included in net income (1)
Net realized gains (losses) on disposals and non-credit related impairment losses	2,375		499		1,876		1,585		333		1,252
Net decrease (increase) in expected credit losses	608		128		480		918		193		725
Net unrealized gains (losses) on investments	78,634		16,513		62,121		(107,429)		(22,560)		(84,869)
Other comprehensive income (loss)	78,634		16,513		62,121		(107,429)		(22,560)		(84,869)
Balance at end of period	$	226,400	$	47,544	$	178,856	$	226,400	$	47,544	$	178,856

(1)Included in net gains (losses) on investments and other financial instruments on our condensed consolidated statements of operations.