Shareholders’ equity included the following activity in accumulated other comprehensive income (loss) for the three months ended March 31, 2026 and 2025:


	Three Months Ended March 31,
In millions	2026		2025
Net unrealized investment gains (losses):
Beginning of period balance	$	206	$	(399)

Other comprehensive income (loss) before reclassifications ($(328) and $188 pretax)	(254)		187
Amounts reclassified from accumulated other comprehensive income (loss) ($13 and $32 pretax) (1)	10		29
Other comprehensive income (loss)	(244)		216
End of period balance	(38)		(183)

Change in discount rate on long-duration insurance reserves:
Beginning of period balance	215		265

Other comprehensive income (loss) before reclassifications ($54 and $(41) pretax)	43		(33)
Other comprehensive income (loss)	43		(33)
End of period balance	258		232

Foreign currency translation adjustments:
Beginning of period balance	7		(4)


Other comprehensive income	—		—
End of period balance	7		(4)

Net cash flow hedges:
Beginning of period balance	216		229

Amounts reclassified from accumulated other comprehensive income ($(5) and $(6) pretax) (2)	(4)		(4)
Other comprehensive loss	(4)		(4)
End of period balance	212		225

Pension and other postretirement benefits:
Beginning of period balance	(238)		(211)


Other comprehensive income	—		—
End of period balance	(238)		(211)

Total beginning of period accumulated other comprehensive income (loss)	406		(120)

Total other comprehensive income (loss)	(205)		179
Total end of period accumulated other comprehensive income	$	201	$	59

(2)Amounts reclassified from accumulated other comprehensive income for specifically identified cash flow hedges are included in interest expense in the unaudited condensed consolidated statements of operations. The Company expects to reclassify approximately $16 million, net of tax, in net gains associated with its cash flow hedges into net income within the next 12 months.