Accumulated Other Comprehensive Income (Loss) ("AOCI") (Tables)

6 Months Ended

Jun. 30, 2026

Accumulated Other Comprehensive Income Other Comprehensive Income [Abstract]

Components of Accumulated Other Comprehensive Income (Loss)

The following table presents a summary of the changes in each component of AOCI for the six months ended June 30, 2026:


(in millions)		Unrealized gains (losses) on debt securities				Foreign currency translation adjustment				Pension benefit adjustment				Accumulated other comprehensive income (loss)
Balance at December 31, 2025		$	(147.6	)		$	(76.3	)		$	(32.8	)		$	(256.7	)
Change in unrealized losses on debt securities			(97.3	)			—				—				(97.3	)
Change in foreign currency translation adjustment			—				(19.7	)			—				(19.7	)
Amortization of net actuarial loss			—				—				1.0				1.0
Tax effect			24.7				0.3				(0.3	)			24.7
Balance at June 30, 2026		$	(220.2	)		$	(95.7	)		$	(32.1	)		$	(348.0	)

Adjustments for Reclassification of Other Comprehensive Income (Loss)

The following table presents the other comprehensive income (loss) reclassification adjustments for the three months ended June 30, 2026 and 2025:


(in millions)		Unrealized gains (losses) on debt securities				Foreign currency translation adjustment				Pension benefit adjustment				Total other comprehensive income (loss)
Three Months Ended June 30, 2026
Pretax change before reclassifications		$	(27.7	)		$	(7.3	)		$	—			$	(35.0	)
Reclassifications out of AOCI			1.5				—				0.5				2.0
Tax effect			7.6				0.1				(0.2	)			7.5
Total other comprehensive (loss) income, net of tax		$	(18.6	)		$	(7.2	)		$	0.3			$	(25.5	)
Three Months Ended June 30, 2025
Pretax change before reclassifications		$	19.9			$	35.7			$	—			$	55.6
Reclassifications out of AOCI			5.4				—				0.4				5.8
Tax effect			(6.3	)			(0.8	)			(0.1	)			(7.2	)
Total other comprehensive income, net of tax		$	19.0			$	34.9			$	0.3			$	54.2

The following table presents the other comprehensive income (loss) reclassification adjustments for the six months ended June 30, 2026 and 2025:


(in millions)		Unrealized gains (losses) on debt securities				Foreign currency translation adjustment				Pension benefit adjustment				Total other comprehensive income (loss)
Six Months Ended June 30, 2026
Pretax change before reclassifications		$	(100.1	)		$	(19.7	)		$	—			$	(119.8	)
Reclassifications out of AOCI			2.8				—				1.0				3.8
Tax effect			24.7				0.3				(0.3	)			24.7
Total other comprehensive (loss) income, net of tax		$	(72.6	)		$	(19.4	)		$	0.7			$	(91.3	)
Six Months Ended June 30, 2025
Pretax change before reclassifications		$	142.8			$	39.6			$	—			$	182.4
Reclassifications out of AOCI			6.9				—				0.9				7.8
Tax effect			(38.4	)			(0.8	)			(0.2	)			(39.4	)
Total other comprehensive income, net of tax		$	111.3			$	38.8			$	0.7			$	150.8

Reclassifications out of Accumulated Other Comprehensive Income (Loss)

The following table presents the effects of the reclassifications out of AOCI on the respective line items in the condensed consolidated statements of income:


		Three Months Ended June 30,								Six Months Ended June 30,
(in millions)		2026				2025				2026				2025				Affected line items
Unrealized gains (losses) on debt securities:
Net realized losses on sales of debt securities		$	(1.5	)		$	(5.4	)		$	(2.8	)		$	(6.9	)		Net investment gains (losses)
Tax effect		$	0.4			$	1.4			$	0.7			$	1.8
Pension benefit adjustment (1):
Amortization of net actuarial loss		$	(0.5	)		$	(0.4	)		$	(1.0	)		$	(0.9	)		Other operating expenses
Tax effect		$	0.2			$	0.1			$	0.3			$	0.2

(1)

Amounts are components of net periodic cost. See Note 11 Employee Benefit Plans for additional details.