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Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Other Comprehensive Income (Loss)

8. OTHER COMPREHENSIVE INCOME (LOSS)

The following table provides changes in other comprehensive income (loss).

YEARS ENDED DECEMBER 31

 

2022

 

 

2021

 

 

2020

 

 

 

 

 

 

Tax

 

 

 

 

 

 

 

 

Tax

 

 

 

 

 

 

 

 

Tax

 

 

 

 

 

 

Pre-

 

 

Benefit

 

 

Net of

 

 

Pre-

 

 

Benefit

 

 

Net of

 

 

Pre-

 

 

Benefit

 

 

Net of

 

(in millions)

 

Tax

 

 

(Expense)

 

 

Tax

 

 

Tax

 

 

(Expense)

 

 

Tax

 

 

Tax

 

 

(Expense)

 

 

Tax

 

Changes in net unrealized gains (losses) on investment securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net unrealized gains (losses) arising
   during period for those having
   no credit losses in Consolidated
   Statements of Income

 

$

(1,079.4

)

 

$

226.6

 

 

$

(852.8

)

 

$

(300.1

)

 

$

63.0

 

 

$

(237.1

)

 

$

274.6

 

 

$

(57.7

)

 

$

216.9

 

Net unrealized gains (losses) arising during
   period for those having credit losses
   in Consolidated Statements of
   Income

 

 

(10.2

)

 

 

2.2

 

 

 

(8.0

)

 

 

(0.2

)

 

 

0.1

 

 

 

(0.1

)

 

 

1.3

 

 

 

(0.2

)

 

 

1.1

 

Amount of (gains) losses realized
   from sales and other recognized
   in Consolidated Statements of
   Income

 

 

26.9

 

 

 

(7.0

)

 

 

19.9

 

 

 

(3.0

)

 

 

(3.9

)

 

 

(6.9

)

 

 

(13.5

)

 

 

(6.4

)

 

 

(19.9

)

Amount of credit-related impairments
   recognized in Consolidated
   Statements of Income

 

 

3.7

 

 

 

(0.8

)

 

 

2.9

 

 

 

0.2

 

 

 

(0.1

)

 

 

0.1

 

 

 

1.2

 

 

 

(0.3

)

 

 

0.9

 

Amount of additional impairment
   losses recognized in
   Consolidated Statements of
   Income

 

 

14.8

 

 

 

(3.1

)

 

 

11.7

 

 

 

1.0

 

 

 

(0.2

)

 

 

0.8

 

 

 

16.6

 

 

 

(3.5

)

 

 

13.1

 

Net unrealized gains (losses)

 

 

(1,044.2

)

 

 

217.9

 

 

 

(826.3

)

 

 

(302.1

)

 

 

58.9

 

 

 

(243.2

)

 

 

280.2

 

 

 

(68.1

)

 

 

212.1

 

Pension and postretirement benefits:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net gains (losses) arising in the
   period from net actuarial gains
   (losses)

 

 

(7.2

)

 

 

1.5

 

 

 

(5.7

)

 

 

(12.4

)

 

 

2.6

 

 

 

(9.8

)

 

 

3.9

 

 

 

(0.8

)

 

 

3.1

 

Amortization of net actuarial losses
   recognized as net periodic
   benefit cost

 

 

5.5

 

 

 

(1.2

)

 

 

4.3

 

 

 

3.4

 

 

 

(0.7

)

 

 

2.7

 

 

 

6.0

 

 

 

(1.3

)

 

 

4.7

 

Total pension and postretirement
   benefits

 

 

(1.7

)

 

 

0.3

 

 

 

(1.4

)

 

 

(9.0

)

 

 

1.9

 

 

 

(7.1

)

 

 

9.9

 

 

 

(2.1

)

 

 

7.8

 

Other comprehensive income (loss)

 

$

(1,045.9

)

 

$

218.2

 

 

$

(827.7

)

 

$

(311.1

)

 

$

60.8

 

 

$

(250.3

)

 

$

290.1

 

 

$

(70.2

)

 

$

219.9

 

 

 

Reclassifications out of accumulated other comprehensive income (loss) were as follows:

YEARS ENDED DECEMBER 31

 

2022

 

 

2021

 

 

2020

 

 

 

(in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount Reclassified from

 

 

 

Details about Accumulated Other

 

Accumulated

 

 

Affected Line Item in the Statement

Comprehensive Income (Loss) Components

 

Other Comprehensive Income (Loss)

 

 

Where Net Income is Presented

Net unrealized gains (losses) on
  investment securities

 

$

(26.7

)

 

$

3.0

 

 

$

13.4

 

 

Net realized gains (losses) from sales and other

 

 

 

(18.5

)

 

 

(1.3

)

 

 

(17.6

)

 

Recoveries (impairments) losses on
   investments

 

 

 

(45.2

)

 

 

1.7

 

 

 

(4.2

)

 

Total before tax

 

 

 

10.9

 

 

 

4.2

 

 

 

10.2

 

 

Income tax benefit (expense)

 

 

 

(34.3

)

 

 

5.9

 

 

 

6.0

 

 

Continuing operations; net of tax

 

 

 

(0.2

)

 

 

0.1

 

 

 

(0.1

)

 

Discontinued life businesses

 

 

 

(34.5

)

 

 

6.0

 

 

 

5.9

 

 

Net of tax

Amortization of defined benefit
   pension and postretirement actuarial
   losses

 

 

(5.5

)

 

 

(3.4

)

 

 

(6.0

)

 

Loss adjustment expenses and other operating
   expenses (1)

 

 

 

1.2

 

 

 

0.7

 

 

 

1.3

 

 

Income tax benefit (expense)

 

 

 

(4.3

)

 

 

(2.7

)

 

 

(4.7

)

 

Continuing operations; net of tax

Total reclassifications for the period

 

$

(38.8

)

 

$

3.3

 

 

$

1.2

 

 

Benefit (expense) reflected in income, net of
   tax
(1)
The amount reclassified from accumulated other comprehensive income for the pension and postretirement benefits was allocated approximately 40% to loss adjustment expenses and 60% to other operating expenses for each of the years ended December 31, 2022, 2021 and 2020.