Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2020

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

Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income ("AOCI") (loss) by component, including amounts reclassified to other comprehensive income ("OCI") (loss) and the related line item in the Statements of Operations where net income is presented, are as follows:


	Three months ended										Three months ended
	June 30, 2020										June 30, 2019
(in thousands)	Before Tax		Income Tax		Net		Before Tax		Income Tax		Net
Investment securities:
AOCI (loss), beginning of period ⁽¹⁾	$	(27,761)	$	0	$	(27,761)	$	(2,235)	$	(470)	$	(1,765)
OCI before reclassifications ⁽¹⁾	40,364		2,646		37,718		4,420		928		3,492
Realized investment gains	(355)		(75)		(280)		(1,239)		(260)		(979)
Impairment losses	17		4		13		84		18		66

OCI	40,026		2,575		37,451		3,265		686		2,579
AOCI (loss), end of period ⁽¹⁾	$	12,265	$	2,575	$	9,690	$	1,030	$	216	$	814

Pension and other postretirement plans:
AOCI (loss), beginning of period	$	(150,233)	$	(31,550)	$	(118,683)	$	(154,190)	$	(32,381)	$	(121,809)

Amortization of prior service costs	336		70		266		348		73		275
Amortization of net actuarial loss	3,031		637		2,394		1,210		254		956
OCI	3,367		707		2,660		1,558		327		1,231
AOCI (loss), end of period	$	(146,866)	$	(30,843)	$	(116,023)	$	(152,632)	$	(32,054)	$	(120,578)

Total
AOCI (loss), beginning of period	$	(177,994)	$	(31,550)	$	(146,444)	$	(156,425)	$	(32,851)	$	(123,574)
Investment securities	40,026		2,575		37,451		3,265		686		2,579
Pension and other postretirement plans	3,367		707		2,660		1,558		327		1,231
OCI	43,393		3,282		40,111		4,823		1,013		3,810
AOCI (loss), end of period	$	(134,601)	$	(28,268)	$	(106,333)	$	(151,602)	$	(31,838)	$	(119,764)

	Six months ended										Six months ended
	June 30, 2020										June 30, 2019
(in thousands)	Before Tax		Income Tax		Net		Before Tax		Income Tax		Net
Investment securities:
AOCI (loss), beginning of period	$	5,664	$	1,189	$	4,475	$	(9,169)	$	(1,926)	$	(7,243)
OCI before reclassifications	4,671		981		3,690		13,194		2,771		10,423
Realized investment gains	(970)		(204)		(766)		(3,157)		(663)		(2,494)
Impairment losses	2,900		609		2,291		162		34		128

OCI	6,601		1,386		5,215		10,199		2,142		8,057
AOCI (loss), end of period	$	12,265	$	2,575	$	9,690	$	1,030	$	216	$	814

Pension and other postretirement plans:
AOCI (loss), beginning of period	$	(153,600)	$	(32,257)	$	(121,343)	$	(155,749)	$	(32,708)	$	(123,041)

Amortization of prior service costs	672		141		531		697		146		551
Amortization of net actuarial loss	6,062		1,273		4,789		2,420		508		1,912
OCI	6,734		1,414		5,320		3,117		654		2,463
AOCI (loss), end of period	$	(146,866)	$	(30,843)	$	(116,023)	$	(152,632)	$	(32,054)	$	(120,578)

Total
AOCI (loss), beginning of period	$	(147,936)	$	(31,068)	$	(116,868)	$	(164,918)	$	(34,634)	$	(130,284)
Investment securities	6,601		1,386		5,215		10,199		2,142		8,057
Pension and other postretirement plans	6,734		1,414		5,320		3,117		654		2,463
OCI	13,335		2,800		10,535		13,316		2,796		10,520
AOCI (loss), end of period	$	(134,601)	$	(28,268)	$	(106,333)	$	(151,602)	$	(31,838)	$	(119,764)

(1)As of June 30, 2020, the valuation allowance that was recognized on the deferred tax asset primarily related to unrealized losses on our investments at March 31, 2020 was fully released.