Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2024

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 (loss)
	Three Months Ended March 31, 2024
(In thousands)	Before Tax		Tax Effect		Net of Tax
Balance at beginning of period	$	(418,799)	$	(87,948)	$	(330,851)
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	(43,655)		(9,168)		(34,487)
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	(3,684)		(774)		(2,910)
Net unrealized gains (losses) on investments	(39,971)		(8,394)		(31,577)
Other adjustments to comprehensive income (loss), net	(86)		(18)		(68)
Other comprehensive income (loss)	(40,057)		(8,412)		(31,645)
Balance at end of period	$	(458,856)	$	(96,360)	$	(362,496)
	Three Months Ended March 31, 2023
(In thousands)	Before Tax		Tax Effect		Net of Tax
Balance at beginning of period	$	(578,228)	$	(121,429)	$	(456,799)
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	83,359		17,505		65,854
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	(5,232)		(1,099)		(4,133)
Net unrealized gains (losses) on investments	88,591		18,604		69,987
Other adjustments to comprehensive income, net	227		48		179
Other comprehensive income (loss)	88,818		18,652		70,166
Balance at end of period	$	(489,410)	$	(102,777)	$	(386,633)

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