Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2024

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

Accumulated Other Comprehensive Income (Loss)

15. 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 September 30, 2024									Nine Months Ended September 30, 2024
(In thousands)	Before Tax			Tax Effect			Net of Tax			Before Tax			Tax Effect			Net of Tax
Balance at beginning of period	$	(477,610	)	$	(100,299	)	$	(377,311	)	$	(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		183,113			38,454			144,659			117,633			24,703			92,930
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		567			119			448			(6,188	)		(1,299	)		(4,889	)
Net unrealized gains (losses) on investments		182,546			38,335			144,211			123,821			26,002			97,819
Other adjustments to comprehensive income (loss), net		—			—			—			(86	)		(18	)		(68	)
Other comprehensive income (loss)		182,546			38,335			144,211			123,735			25,984			97,751
Balance at end of period	$	(295,064	)	$	(61,964	)	$	(233,100	)	$	(295,064	)	$	(61,964	)	$	(233,100	)
	Three Months Ended September 30, 2023									Nine Months Ended September 30, 2023
(In thousands)	Before Tax			Tax Effect			Net of Tax			Before Tax			Tax Effect			Net of Tax
Balance at beginning of period	$	(536,312	)	$	(112,626	)	$	(423,686	)	$	(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		(126,080	)		(26,477	)		(99,603	)		(94,777	)		(19,903	)		(74,874	)
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		(2,794	)		(587	)		(2,207	)		(13,180	)		(2,768	)		(10,412	)
Net unrealized gains (losses) on investments		(123,286	)		(25,890	)		(97,396	)		(81,597	)		(17,135	)		(64,462	)
Other adjustments to comprehensive income, net		—			—			—			227			48			179
Other comprehensive income (loss)		(123,286	)		(25,890	)		(97,396	)		(81,370	)		(17,087	)		(64,283	)
Balance at end of period	$	(659,598	)	$	(138,516	)	$	(521,082	)	$	(659,598	)	$	(138,516	)	$	(521,082	)

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