Schedule of accumulated other comprehensive income (loss) balances |
The following table presents the changes in the components of AOCI balances for the years ended December 31, 2015, 2014 and 2013. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ($ in thousands) | | Year Ended December 31, | | 2015 | | 2014 | | 2013 | | Available- for-Sale Investment Securities | | Foreign Currency Translation Adjustments (1) | | Total | | Available- for-Sale Investment Securities | | Total | | Available- for-Sale Investment Securities | | Total | Beginning balance | | $ | 4,237 |
| | $ | — |
| | $ | 4,237 |
| | $ | (30,459 | ) | | $ | (30,459 | ) | | $ | 4,669 |
| | $ | 4,669 |
| Net unrealized gains (losses) arising during the period | | 13,012 |
| | (8,797 | ) | | 4,215 |
| | 40,911 |
| | 40,911 |
| | (27,833 | ) | | (27,833 | ) | Amounts reclassified from AOCI | | (23,393 | ) | | — |
| | (23,393 | ) | | (6,215 | ) | | (6,215 | ) | | (7,295 | ) | | (7,295 | ) | Changes, net of taxes | | (10,381 | ) | | (8,797 | ) | | (19,178 | ) | | 34,696 |
| | 34,696 |
| | (35,128 | ) | | (35,128 | ) | Ending balance | | $ | (6,144 | ) | | $ | (8,797 | ) | | $ | (14,941 | ) | | $ | 4,237 |
| | $ | 4,237 |
| | $ | (30,459 | ) | | $ | (30,459 | ) | |
| | (1) | Represents foreign currency translation adjustments related to the Company’s net investment in non-U.S. operations, including related hedges. In the third quarter of 2015, there was a change in functional currency from USD to the local currency of the Company’s foreign subsidiary. |
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Schedule of components of other comprehensive income (loss), reclassifications to net income by income statement line item and the related tax effects |
The following table presents the components of other comprehensive income (loss), reclassifications to net income and the related tax effects for the years ended December 31, 2015, 2014 and 2013: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ($ in thousands) | | Year Ended December 31, | | 2015 | | 2014 | | 2013 | | Before-Tax | | Tax Effect | | Net-of-Tax | | Before-Tax | | Tax Effect | | Net-of-Tax | | Before-Tax | | Tax Effect | | Net-of-Tax | Available-for-sale investment securities: | | |
| | |
| | |
| | |
| | |
| | |
| | | | | | | Net unrealized gains (losses) arising during the period | | $ | 22,454 |
| | $ | (9,442 | ) | | $ | 13,012 |
| | $ | 70,537 |
| | $ | (29,626 | ) | | $ | 40,911 |
| | $ | (47,988 | ) | | $ | 20,155 |
| | $ | (27,833 | ) | Net realized gains reclassified into net income (1) | | (40,367 | ) | | 16,974 |
| | (23,393 | ) | | (10,715 | ) | | 4,500 |
| | (6,215 | ) | | (12,577 | ) | | 5,282 |
| | (7,295 | ) | Net change | | (17,913 | ) | | 7,532 |
| | (10,381 | ) | | 59,822 |
| | (25,126 | ) | | 34,696 |
| | (60,565 | ) | | 25,437 |
| | (35,128 | ) | | | | | | | | | | | | | | | | | | | | Foreign currency translation adjustments: | | | | | | | | | | | | | | | | | | | Net unrealized losses arising during period | | (8,797 | ) | | — |
| | (8,797 | ) | | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Net change | | (8,797 | ) | | — |
| | (8,797 | ) | | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Other comprehensive (loss)income | | $ | (26,710 | ) | | $ | 7,532 |
| | $ | (19,178 | ) | | $ | 59,822 |
| | $ | (25,126 | ) | | $ | 34,696 |
| | $ | (60,565 | ) | | $ | 25,437 |
| | $ | (35,128 | ) | |
| | (1) | For the year ended December 31, 2015, the pretax amount was reported in net gains on sales of available-for-sale investment securities in the Consolidated Statements of Income. For the years ended December 31, 2014 and 2013, the pretax amount was reported in net gains on sales of available-for-sale investment securities and other fees and other operating income in the Consolidated Statements of Income. |
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