Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2013

Other Comprehensive Income (Loss)

Other Comprehensive Income (Loss)

5. Other Comprehensive Income (Loss)

The following table presents the tax effects on each component of “Other comprehensive income (loss).”  A full valuation allowance was established against any deferred tax assets that were capital in nature during 2012.

	For the Years Ended December 31,
	2013								2012									2011
	Before			Tax		Net			Before			Tax			Net			Before			Tax		Net
	Tax			(Expense)		of Tax			Tax			(Expense)			of Tax			Tax			(Expense)		of Tax
	Amount			Benefit		Amount			Amount			Benefit			Amount			Amount			Benefit		Amount
	(In thousands)
Foreign currency translation adjustments	$	1,155		$	—	$	1,155		$	4,106		$	—		$	4,106		$	(9,139	)	—		$	(9,139	)
Unrealized holding gains (losses) on available-for-sale securities	123,233			9,284		132,517			265,785			(12,892		)	252,893			(13,965		)	—		(13,965		)
Recognition of previously unrealized (gains) losses on available-for-sale securities included in net income (loss)	(148,603		)	—		(148,603		)	(150,239		)	—			(150,239		)	11,790			—		11,790
Other comprehensive income (loss)	$	(24,215	)	$	9,284	$	(14,931	)	$	119,652		$	(12,892	)	$	106,760		$	(11,314	)	$	—	$	(11,314	)

The “Accumulated other comprehensive income (loss)” is detailed in the following table.

	Foreign			Unrealized /
	Currency			Recognized
	Translation			Gains
Accumulated Other Comprehensive Income (Loss)	Adjustment			(Losses)			Total
	(In thousands)
Balance as of December 31, 2011	$	(9,139	)	$	91,182		$	82,043
Current period activity	4,106			115,546			119,652
Tax (expense) benefit	—			(12,892		)	(12,892		)
Balance as of December 31, 2012	$	(5,033	)	$	193,836		$	188,803
Current period activity	1,155			(25,370		)	(24,215		)
Tax (expense) benefit	—			9,284			9,284
Balance as of December 31, 2013	$	(3,878	)	$	177,750		$	173,872