ODYSSEY RE HOLDINGS CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, Continued Included in the consolidated balance sheets are amounts receivable r elated to expense sharing arrangements with affiliates of $4.9 million and $1.1 million as of December 31, 2004 and 2003, r espectively, and payable to affiliates of $1.1 million and $1.3 million as of December 31, 2004 and 2003 respectively In addition to the amounts in the table above, the Company has a receivable from nSpir Re of $8.2 million and $17.0 million as of December 31, 2004 and 2003, respectively, which represents transactions for certain reinsurance agreements. Management believes that the revenues and expenses related to the transactions with affiliated entities would not be materially different if such transactions were with unaffiliated entities. 63 2004 2003 2002 Beginning balance of accumulated other  comprehensive income (loss) $112,430 $ 21,736 $(12,985) Beginning balance of unrealized net gains (losses)  on securities 73,756 23,938 (3,627) Ending balance of unrealized net gains on securities 84,412 73,756 23,938 Current period change in unrealized net gains on securities 10,656 49,818 27,565 Beginning balance of foreign currency  translation adjustments 39,896 (2,202) (9,358) Ending balance of foreign currency  translation adjustments 53,662 39,896 (2,202) Current period change in foreign currency  translation adjustments 13,766 42,098 7,156 Beginning balance of minimum pension liability (1,222) — — Ending balance of minimum pension liability (1,225) (1,222) — Current period change of minimum pension liability (3) (1,222) — Current period change in accumulated other  comprehensive income 24,419 90,694 34,721 Ending balance of accumulated other  comprehensive income $ 136,849 $112,430 $ 21,736 7. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table shows the components of the change in accumulated other comprehensive income (loss) for the years ending December 31, 2004, 2003 and 2002 (in thousands):