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Accumulated Other Comprehensive Income (Tables)
 3 Months Ended
Mar. 31, 2014
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Components of Accumulated Other Comprehensive Income
The balance of and changes in each component of accumulated other comprehensive income (loss) (“AOCI”) for the three months ended March 31, 2014 and 2013 are as follows (dollars in thousands):
 
 
 
Accumulated Other Comprehensive Income (Loss), Net of Income Tax
 
 
Accumulated
Currency
Translation
Adjustments
 
Unrealized
Appreciation
(Depreciation)
of Investments(1)
 
Pension and
Postretirement
Benefits
 
Total
Balance, December 31, 2013
 
$
207,083

 
$
820,245

 
$
(21,721
)
 
$
1,005,607

Other comprehensive income (loss) before reclassifications
 
(42,683
)
 
319,758

 
161

 
277,236

Amounts reclassified to (from) AOCI
 
—

 
(3,924
)
 
580

 
(3,344
)
Net current-period other comprehensive income (loss)
 
(42,683
)
 
315,834

 
741

 
273,892

Balance, March 31, 2014
 
$
164,400

 
$
1,136,079

 
$
(20,980
)
 
$
1,279,499

 
 
 
Accumulated Other Comprehensive Income (Loss), Net of Income Tax
 
 
Accumulated
Currency
Translation
Adjustments
 
Unrealized
Appreciation
(Depreciation)
of Investments(1)
 
Pension and
Postretirement
Benefits
 
Total
Balance, December 31, 2012
 
$
267,475

 
$
1,877,657

 
$
(36,230
)
 
$
2,108,902

Other comprehensive income (loss) before reclassifications
 
(14,105
)
 
(112,711
)
 
99

 
(126,717
)
Amounts reclassified to (from) AOCI
 
—

 
(6,171
)
 
726

 
(5,445
)
Net current-period other comprehensive income (loss)
 
(14,105
)
 
(118,882
)
 
825

 
(132,162
)
Balance, March 31, 2013
 
$
253,370

 
$
1,758,775

 
$
(35,405
)
 
$
1,976,740

 
(1)
Includes cash flow hedges. See Note 5 - “Derivative Instruments” for additional information on cash flow hedges.
Reclassification Out Of Accumulated Other Comprehensive Income
The following table presents the amounts of AOCI reclassifications for the three months ended March 31, 2014 and 2013 (dollars in thousands):
 
 
Amount Reclassified from AOCI
 
 
 
 
Three months ended March 31,
 
 
Details about AOCI Components
 
2014
 
2013
 
Affected Line Item in Statement of Income         
Unrealized gains and losses on available-for-sale securities
 
$
1,189

 
$
10,348

 
Investment related gains (losses), net
Gains and losses on cash flow hedge - interest rate swap
 
218

 
305

 
Investment income
Deferred policy acquisition costs attributed to unrealized gains and losses(1)
 
4,421

 
(1,548
)
 
 
 
 
5,828

 
9,105

 
Total before tax
 
 
(1,904
)
 
(2,934
)
 
Tax expense
 
 
$
3,924

 
$
6,171

 
Net of tax
Amortization of unrealized pension and postretirement benefits:
 
 
 
 
 
 
Prior service cost(2)
 
$
(2
)
 
$
(94
)
 
 
Actuarial gains/(losses)(2)
 
(890
)
 
(1,023
)
 
 
 
 
(892
)
 
(1,117
)
 
Total before tax
 
 
312

 
391

 
Tax benefit
 
 
$
(580
)
 
$
(726
)
 
Net of tax
 
 


 
 
 
 
Total reclassifications for the period
 
$
3,344

 
$
5,445

 
Net of tax

(1)
This AOCI component is included in the computation of the deferred policy acquisition cost. See Note 8 – “Deferred Policy Acquisition Costs” of the 2013 Annual Report for additional details.
(2)
These AOCI components are included in the computation of the net periodic pension cost. See Note 10 – “Employee Benefit Plans” for additional details.