| Accumulated Other Comprehensive Income (Loss) |
| | | 15. Accumulated Other Comprehensive Income (Loss) |
The following tables summarize changes in AOCI: | | | | | | | | | | | | | | | | thousands | AFS Fixed Maturity Securities | Derivative Instruments | Pension | Total | | Balance at March 31, 2026 | $ | — | | $ | (1,543) | | $ | (838) | | $ | (2,381) | | | Other comprehensive income (loss) before reclassifications | (2,279) | | 4,425 | | — | | 2,146 | | | (Gain) loss reclassified to net income | 2,324 | | (439) | | — | | 1,885 | | | Pension adjustment | — | | — | | 838 | | 838 | | | Income tax (expense) benefit | — | | (944) | | — | | (944) | | | Net current-period other comprehensive income (loss) | 45 | | 3,042 | | 838 | | 3,925 | | Balance at June 30, 2026 | $ | 45 | | $ | 1,499 | | $ | — | | $ | 1,544 | | | | | | | | Balance at March 31, 2025 | $ | — | | $ | 1,077 | | $ | (928) | | $ | 149 | | | Other comprehensive income (loss) before reclassifications | — | | (119) | | — | | (119) | | | (Gain) loss reclassified to net income | — | | (1,027) | | — | | (1,027) | | | | | | | | Income tax (expense) benefit | — | | 273 | | — | | 273 | | | Net current-period other comprehensive income (loss) | — | | (873) | | — | | (873) | | Balance at June 30, 2025 | $ | — | | $ | 204 | | $ | (928) | | $ | (724) | | | | | | | | thousands | | | | | Balance at December 31, 2025 | $ | — | | $ | (989) | | $ | (838) | | $ | (1,827) | | | Other comprehensive income (loss) before reclassifications | (2,279) | | 4,160 | | — | | 1,881 | | | (Gain) loss reclassified to net income | 2,324 | | (908) | | — | | 1,416 | | | Pension adjustment | — | | — | | 838 | | 838 | | | Income tax (expense) benefit | — | | (764) | | — | | (764) | | | Net current-period other comprehensive income (loss) | 45 | | 2,488 | | 838 | | 3,371 | | Balance at June 30, 2026 | $ | 45 | | $ | 1,499 | | $ | — | | $ | 1,544 | | | | | | | Balance at December 31, 2024 | $ | — | | $ | 2,896 | | $ | (928) | | $ | 1,968 | | | Other comprehensive income (loss) before reclassifications | — | | (1,608) | | — | | (1,608) | | | (Gain) loss reclassified to net income | — | | (1,950) | | — | | (1,950) | | | | | | | | Income tax (expense) benefit | — | | 866 | | — | | 866 | | | Net current-period other comprehensive income (loss) | — | | (2,692) | | — | | (2,692) | | Balance at June 30, 2025 | $ | — | | $ | 204 | | $ | (928) | | $ | (724) | |
The following table summarizes the amounts reclassified out of AOCI: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | Affected line items in the
Statements of Operations | | thousands | 2026 | | 2025 | | 2026 | | 2025 | | AFS fixed maturity securities: | | | | | | | | | | (Gains) losses on AFS fixed maturity securities | $ | 2,324 | | | $ | — | | | $ | 2,324 | | | $ | — | | Investment gain (loss), net | | Income tax expense (benefit) | (567) | | | — | | | (567) | | | — | | Income tax expense (benefit) | | Derivative instruments: | | | | | | | | | | (Gains) losses on cash flow hedges | (439) | | | (1,027) | | | (908) | | | (1,950) | | Interest expense | | Income tax expense (benefit) | 101 | | | 245 | | | 216 | | | 469 | | Income tax expense (benefit) | | Total reclassifications of (income) loss | $ | 1,419 | | | $ | (782) | | | $ | 1,065 | | | $ | (1,481) | | |
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