| Schedule of Components of AOCI, Net of Tax |
The changes in the balance of each component of AOCI for the three and nine months ended September 30, 2024 and 2023 were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In thousands) | Unrealized Investment Gains (Losses) | | Cash Flow Hedging Gains (Losses) (1) | | Non-credit Impairments | | Unrecognized Change in Defined Benefit Plan Liabilities | | | | Accumulated Other Comprehensive Income (Loss) | | Balance, July 1, 2024 | $ | (211,070) | | | $ | 6,302 | | | $ | (92) | | | $ | (1,177) | | | | | $ | (206,037) | | | OCI, before reclassifications, net of tax | 84,305 | | | (4,619) | | | — | | | — | | | | | 79,686 | | | Amounts reclassified from AOCI, net of tax | 2,311 | | | (1,068) | | | — | | | — | | | | | 1,243 | | | Net OCI, current period | 86,616 | | | (5,687) | | | — | | | — | | | | | 80,929 | | | Balance at September 30, 2024 | $ | (124,454) | | | $ | 615 | | | $ | (92) | | | $ | (1,177) | | | | | $ | (125,108) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In thousands) | Unrealized Investment Gains (Losses) | | Cash Flow Hedging Gains (Losses) (1) | | Non-credit Impairments | | Unrecognized Change in Defined Benefit Plan Liabilities | | Accumulated Other Comprehensive Income (Loss) | | Balance, December 31, 2023 | $ | (206,327) | | | $ | 3,026 | | | $ | (11) | | | $ | (1,177) | | | $ | (204,489) | | | OCI, before reclassifications, net of tax | 77,369 | | | 781 | | | (455) | | | — | | | 77,695 | | | Amounts reclassified from AOCI, net of tax | 4,504 | | | (3,192) | | | 374 | | | — | | | 1,686 | | | Net OCI, current period | 81,873 | | | (2,411) | | | (81) | | | — | | | 79,381 | | | Balance, September 30, 2024 | $ | (124,454) | | | $ | 615 | | | $ | (92) | | | $ | (1,177) | | | $ | (125,108) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In thousands) | Unrealized Investment Gains (Losses) | | Cash Flow Hedging Gains (Losses) (1) | | Non-credit Impairments | | Unrecognized Change in Defined Benefit Plan Liabilities | | | | Accumulated Other Comprehensive Income (Loss) | | Balance, July 1, 2023 | $ | (270,325) | | | $ | 4,310 | | | $ | (11) | | | $ | (1,454) | | | | | $ | (267,480) | | | OCI, before reclassifications, net of tax | (33,371) | | | 3,879 | | | — | | | — | | | | | (29,492) | | | Amounts reclassified from AOCI, net of tax | 133 | | | — | | | — | | | — | | | | | 133 | | | Net OCI, current period | (33,238) | | | 3,879 | | | — | | | — | | | | | (29,359) | | | Balance at September 30, 2023 | $ | (303,563) | | | $ | 8,189 | | | $ | (11) | | | $ | (1,454) | | | | | $ | (296,839) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In thousands) | Unrealized Investment Gains (Losses) | | Cash Flow Hedging Gains (Losses) (1) | | Non-credit Impairments | | Unrecognized Change in Defined Benefit Plan Liabilities | | Accumulated Other Comprehensive Income (Loss) | | Balance, December 31, 2022 | $ | (297,142) | | | $ | — | | | $ | (11) | | | $ | (1,454) | | | $ | (298,607) | | | OCI, before reclassifications, net of tax | (9,437) | | | 8,189 | | | — | | | — | | | (1,248) | | | Amounts reclassified from AOCI, net of tax | 3,016 | | | — | | | — | | | — | | | 3,016 | | | Net OCI, current period | (6,421) | | | 8,189 | | | — | | | — | | | 1,768 | | | Balance, September 30, 2023 | $ | (303,563) | | | $ | 8,189 | | | $ | (11) | | | $ | (1,454) | | | $ | (296,839) | | |
(1) ProAssurance entered into two forward-starting interest rate swap agreements ("Interest Rate Swaps") on May 2, 2023, which are designated and qualify as highly effective cash flow hedges. See Note 9 for additional information on the Interest Rate Swaps.
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