| Schedule of Accumulated Other Comprehensive Income (Loss) |
The following tables provide the rollforward of accumulated other comprehensive income (loss) for the periods indicated.
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Rollforward of accumulated other comprehensive income (loss) |
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Three Months Ended
March 31, 2026 |
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(In thousands) |
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Before
Tax |
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Tax
Effect |
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Net of
Tax |
|
Balance at beginning of period |
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$ |
(281,214 |
) |
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$ |
(59,055 |
) |
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$ |
(222,159 |
) |
Other comprehensive income (loss) |
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Unrealized holding gains (losses) on investments arising during the period for which an allowance for expected credit losses has not been recognized |
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(54,676 |
) |
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(12,095 |
) |
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(42,581 |
) |
Less: Reclassification adjustment for net gains (losses) on investments included in net income (1) |
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Net realized gains (losses) on disposals and non-credit related impairment losses |
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(3,373 |
) |
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(718 |
) |
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(2,655 |
) |
Net unrealized gains (losses) on investments |
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(51,303 |
) |
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(11,377 |
) |
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(39,926 |
) |
Net unrealized gains (losses) from investments recorded as assets held for sale |
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28 |
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6 |
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22 |
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Other adjustments to comprehensive income (loss), net |
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(65 |
) |
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(14 |
) |
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(51 |
) |
Other comprehensive income (loss) |
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(51,340 |
) |
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(11,385 |
) |
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(39,955 |
) |
Balance at end of period |
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$ |
(332,554 |
) |
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$ |
(70,440 |
) |
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$ |
(262,114 |
) |
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Three Months Ended
March 31, 2025 |
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(In thousands) |
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Before
Tax |
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Tax
Effect |
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Net of
Tax |
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Balance at beginning of period |
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$ |
(443,340 |
) |
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$ |
(93,102 |
) |
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$ |
(350,238 |
) |
Other comprehensive income (loss) |
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Unrealized holding gains (losses) on investments arising during the period for which an allowance for expected credit losses has not been recognized |
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67,755 |
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14,229 |
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53,526 |
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Less: Reclassification adjustment for net gains (losses) on investments included in net income (1) |
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Net realized gains (losses) on disposals and non-credit related impairment losses |
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(2,349 |
) |
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(493 |
) |
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(1,856 |
) |
Net unrealized gains (losses) on investments |
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70,104 |
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14,722 |
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55,382 |
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Net unrealized gains (losses) from investments recorded as assets held for sale |
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120 |
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25 |
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95 |
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Other adjustments to comprehensive income, net |
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58 |
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13 |
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45 |
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Other comprehensive income (loss) |
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70,282 |
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14,760 |
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55,522 |
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Balance at end of period |
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$ |
(373,058 |
) |
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$ |
(78,342 |
) |
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$ |
(294,716 |
) |
(1)Included in net gains (losses) on financial instruments and foreign exchange in our condensed consolidated statements of operations.
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