The components of other comprehensive income (loss) (“OCI”), including the income tax expense or benefit allocated to each component, were as follows:
|
|
|
|
|
|
|
|
|
|
|
Three months ended March 31, |
|
|
|
2026 |
|
|
2025 |
|
|
|
(In thousands) |
|
Foreign currency translation adjustments: |
|
|
|
|
|
|
Change in unrealized foreign currency translation gains (losses)
before income taxes |
|
$ |
(7,551 |
) |
|
$ |
(424 |
) |
Income tax expense (benefit) on unrealized foreign currency
translation gains (losses) |
|
|
- |
|
|
|
- |
|
Change in unrealized foreign currency translation gains
(losses), net of income taxes |
|
$ |
(7,551 |
) |
|
$ |
(424 |
) |
Unrealized gain (losses) on available-for-sale securities: |
|
|
|
|
|
|
Change in unrealized holding gains (losses) arising during period
before income taxes |
|
$ |
(41,155 |
) |
|
$ |
36,925 |
|
Income tax expense (benefit) on unrealized holding gains
(losses) arising during period |
|
|
(8,758 |
) |
|
|
7,909 |
|
Change in unrealized holding gains (losses) on available-for-sale
securities arising during period, net of income taxes |
|
|
(32,397 |
) |
|
|
29,016 |
|
|
|
|
|
|
|
|
Reclassification from accumulated OCI to net income for (gains)
losses realized on available-for-sale securities |
|
|
847 |
|
|
|
79 |
|
Income tax (expense) benefit on (gains) losses reclassified
from accumulated OCI to net income |
|
|
178 |
|
|
|
17 |
|
Reclassification from accumulated OCI to net income for (gains)
losses realized on available-for-sale securities, net of income taxes |
|
|
669 |
|
|
|
62 |
|
Change in unrealized gains (losses) on available-for-sale
securities, net of income taxes and reclassification adjustment |
|
$ |
(31,728 |
) |
|
$ |
29,078 |
|
Effect of change in discount rate assumptions on the LFPB: |
|
|
|
|
|
|
Change in effect in discount rate assumptions on the LFPB before income taxes |
|
$ |
113,320 |
|
|
$ |
(67,453 |
) |
Income tax expense (benefit) on the effect of change in discount rate |
|
|
|
|
|
|
assumptions on the LFPB from accumulated OCI to net income |
|
|
24,122 |
|
|
|
(14,219 |
) |
Change in effect in discount rate assumptions on the LFPB, net of income taxes |
|
$ |
89,198 |
|
|
$ |
(53,234 |
) |
|