XML 23 R7.htm IDEA: XBRL DOCUMENT v3.24.1
Consolidated Statements of Shareholders' Equity - USD ($)
$ in Thousands
Total
Previously Reported
Common shares
Preferred shares
Additional paid-in capital
Accumulated other comprehensive loss
Currency translation adjustment
Currency translation adjustment
Previously Reported
Currency translation adjustment
LDTI Impact
Unfunded pension obligation
Unrealized gain on investments
Discount rate for liability for future policy benefits
Discount rate for liability for future policy benefits
Previously Reported
Discount rate for liability for future policy benefits
LDTI Impact
Instrument-specific credit risk for market risk benefits
Instrument-specific credit risk for market risk benefits
Previously Reported
Instrument-specific credit risk for market risk benefits
LDTI Impact
Retained earnings
Retained earnings
Previously Reported
Retained earnings
LDTI Impact
Balance at beginning of year at Dec. 31, 2020   $ 7,326,997 $ 0 $ 25,490 $ 2,334,564 $ (96,005)   $ (65,788) $ (739) $ (30,371) $ 154   $ 0 $ (66,966)   $ 0 $ (56,915)   $ 5,062,948 $ (160,640)
Issuance of preferred shares       8,000 185,887                              
Redemption of preferred shares       (25,490) (590,517)                              
Change in currency translation adjustment $ 44,160 43,120         $ 44,160                          
Change in unfunded pension obligation, net of tax 23,307                 23,307                    
Change in net unrealized gains or losses on investments, net of tax (128)                   (128)                  
Change in discount rate for liability for future policy benefits, net of tax (53,053) 0                   $ 53,053                
Change in instrument-specific credit risk for market risk benefits, net of tax 3,825 0                         $ 3,825          
Net Income (Loss) 764,188 723,404                               $ 764,188    
Dividends on common shares                                   (106,667)    
Dividends on preferred shares (22,693)                                 (22,693)    
Loss on redemption of preferred shares (21,234)                                 (21,234)    
Balance at end of year at Dec. 31, 2021 7,357,428   0 8,000 1,929,934 (96,408) (22,367) (22,367) 0 (7,064) 26 (13,913) (13,913) 0 (53,090) (53,090) 0 5,515,902 5,515,902 0
Balance at end of period, tax impact at Dec. 31, 2021                   1,840 0 8,999     6,117          
Issuance of preferred shares       0 0                              
Redemption of preferred shares       0 0                              
Change in currency translation adjustment 5,670 9,464         5,670                          
Change in unfunded pension obligation, net of tax 12,573                 12,573                    
Change in net unrealized gains or losses on investments, net of tax 0                   0                  
Change in discount rate for liability for future policy benefits, net of tax (99,250) 0                   99,250                
Change in instrument-specific credit risk for market risk benefits, net of tax 49,794 0                         49,794          
Net Income (Loss) (939,752) (1,090,029)                               (939,752)    
Dividends on common shares                                   (177,894)    
Dividends on preferred shares (9,750)                                 (9,750)    
Loss on redemption of preferred shares 0                                 0    
Balance at end of year at Dec. 31, 2022 $ 6,397,319 $ 6,288,350 0 8,000 1,929,934 70,879 (16,697) $ (16,697) $ 0 5,509 26 85,337 $ 85,337 $ 0 (3,296) $ (3,296) $ 0 4,388,506 $ 4,388,506 $ 0
Balance at end of period, tax impact at Dec. 31, 2022                   1,230 0 (4,040)     380          
Accounting Standards Update Accounting Standards Update 2018-12                                      
Issuance of preferred shares       0 0                              
Redemption of preferred shares       0 0                              
Change in currency translation adjustment $ (3,180)           (3,180)                          
Change in unfunded pension obligation, net of tax (15,005)                 (15,005)                    
Change in net unrealized gains or losses on investments, net of tax (26)                   (26)                  
Change in discount rate for liability for future policy benefits, net of tax 49,984                     (49,984)                
Change in instrument-specific credit risk for market risk benefits, net of tax 4,843                           4,843          
Net Income (Loss) 2,318,119                                 2,318,119    
Dividends on common shares                                   (217,915)    
Dividends on preferred shares (9,750)                                 (9,750)    
Loss on redemption of preferred shares 0                                 0    
Balance at end of year at Dec. 31, 2023 $ 8,424,421   $ 0 $ 8,000 $ 1,929,934 $ 7,527 $ (19,877)     (9,496) 0 35,353     1,547     $ 6,478,960    
Balance at end of period, tax impact at Dec. 31, 2023                   $ (2,375) $ 0 $ (5,998)     $ 245