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Accumulated Other Comprehensive Income
 9 Months Ended
Sep. 30, 2015
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income
The balance of and changes in each component of accumulated other comprehensive income (loss) (“AOCI”) for the nine months ended September 30, 2015 and 2014 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, 2014
 
$
81,847

 
$
1,624,773

 
$
(49,491
)
 
$
1,657,129

Other comprehensive income (loss) before reclassifications
 
(176,562
)
 
(843,541
)
 
1,254

 
(1,018,849
)
Deferred income tax benefit (expense)
 
(24,778
)
 
269,378

 
(382
)
 
244,218

Other comprehensive income (loss) before reclassifications, net of income tax
 
(201,340
)
 
(574,163
)
 
872

 
(774,631
)
Amounts reclassified to (from) AOCI
 
—

 
34,790

 
4,002

 
38,792

Deferred income tax benefit (expense)
 
—

 
(13,410
)
 
(1,401
)
 
(14,811
)
Amounts reclassified to (from) AOCI, net of income tax
 
—

 
21,380

 
2,601

 
23,981

Balance, September 30, 2015
 
$
(119,493
)
 
$
1,071,990

 
$
(46,018
)
 
$
906,479

 
 
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
 
(66,167
)
 
857,802

 
(461
)
 
791,174

Deferred income tax benefit (expense)
 
(8,980
)
 
(266,429
)
 
184

 
(275,225
)
Other comprehensive income (loss) before reclassifications, net of income tax
 
(75,147
)
 
591,373

 
(277
)
 
515,949

Amounts reclassified to (from) AOCI
 
—

 
(36,035
)
 
2,634

 
(33,401
)
Deferred income tax benefit (expense)
 
—

 
12,374

 
(922
)
 
11,452

Amounts reclassified to (from) AOCI, net of income tax
 
—

 
(23,661
)
 
1,712

 
(21,949
)
Balance, September 30, 2014
 
$
131,936

 
$
1,387,957

 
$
(20,286
)
 
$
1,499,607

(1)
Includes cash flow hedges. See Note 5 - “Derivative Instruments” for additional information on cash flow hedges.
The following table presents the amounts of AOCI reclassifications for the three and nine months ended September 30, 2015 and 2014 (dollars in thousands):
 
 
Amount Reclassified from AOCI
 
 
 
 
Three months ended September 30,
 
 
Nine months ended September 30,
 
 
Details about AOCI Components
 
2015
 
2014
 
 
2015
 
2014
 
Affected Line Item in 
Statement of Income         
Unrealized gains and losses on available-for-sale securities
 
$
(31,506
)
 
$
2,218

 
 
$
(26,598
)
 
$
30,549

 
Investment related gains (losses), net
Gains and losses on cash flow hedges
 
(112
)
 
393

 
 
491

 
932

 
Investment income
Gains and losses on cash flow hedges
 
179

 
—

 
 
834

 
—

 
Investment related gains (losses), net
Deferred policy acquisition costs attributed to unrealized gains and losses(1)
 
(9,543
)
 
(4,237
)
 
 
(9,517
)
 
4,554

 
 
Total
 
(40,982
)
 
(1,626
)
 
 
(34,790
)
 
36,035

 
 
Provision for income taxes
 
13,948

 
588

 
 
13,410

 
(12,374
)
 
 
Net unrealized gains (losses), net of tax
 
$
(27,034
)
 
$
(1,038
)
 
 
$
(21,380
)
 
$
23,661

 
 
Amortization of unrealized pension and postretirement benefits:
 
 
 
 
 
 
 
 
 
 
 
Prior service cost(2)
 
$
(82
)
 
$
(214
)
 
 
$
(245
)
 
$
(432
)
 
 
Actuarial gains/(losses)(2)
 
(1,955
)
 
(850
)
 
 
(3,757
)
 
(2,202
)
 
 
Total
 
(2,037
)
 
(1,064
)
 
 
(4,002
)
 
(2,634
)
 
 
Provision for income taxes
 
713

 
372

 
 
1,401

 
922

 
 
Amortization of unrealized pension and postretirement benefits, net of tax
 
$
(1,324
)
 
$
(692
)
 
 
$
(2,601
)
 
$
(1,712
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total reclassifications, net of tax
 
$
(28,358
)
 
$
(1,730
)
 
 
$
(23,981
)
 
$
21,949

 
 
(1)
This AOCI component is included in the computation of the deferred policy acquisition cost. See Note 8 – “Deferred Policy Acquisition Costs” of the 2014 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