Schedule of the changes in components of accumulated other comprehensive income (loss) balances |
The following tables present the changes in the components of AOCI balances for the three and nine months ended September 30, 2017 and 2016: | | | | | | | | | | | | | | | | | | | | | | | | | | | ($ in thousands) | | Three Months Ended September 30, | | 2017 | | 2016 | | Available- for-Sale Investment Securities | | Foreign Currency Translation Adjustments (1) | | Total | | Available- for-Sale Investment Securities | | Foreign Currency Translation Adjustments (1) | | Total | Beginning balance | | $ | (18,950 | ) | | $ | (15,231 | ) | | $ | (34,181 | ) | | $ | 11,756 |
| | $ | (13,468 | ) | | $ | (1,712 | ) | Net unrealized (losses) gains arising during the period | | (1,014 | ) | | 3,870 |
| | 2,856 |
| | (3,869 | ) | | (555 | ) | | (4,424 | ) | Amounts reclassified from AOCI | | (892 | ) | | — |
| | (892 | ) | | (1,038 | ) | | — |
| | (1,038 | ) | Changes, net of taxes | | (1,906 | ) | | 3,870 |
| | 1,964 |
| | (4,907 | ) | | (555 | ) | | (5,462 | ) | Ending balance | | $ | (20,856 | ) | | $ | (11,361 | ) | | $ | (32,217 | ) | | $ | 6,849 |
| | $ | (14,023 | ) | | $ | (7,174 | ) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | ($ in thousands) | | Nine Months Ended September 30, | | 2017 | | 2016 | | Available- for-Sale Investment Securities | | Foreign Currency Translation Adjustments (1) | | Total | | Available- for-Sale Investment Securities | | Foreign Currency Translation Adjustments (1) | | Total | Beginning balance | | $ | (28,772 | ) | | $ | (19,374 | ) | | $ | (48,146 | ) | | $ | (6,144 | ) | | $ | (8,797 | ) | | $ | (14,941 | ) | Net unrealized gains (losses) arising during the period | | 11,818 |
| | 8,013 |
| | 19,831 |
| | 17,901 |
| | (5,226 | ) | | 12,675 |
| Amounts reclassified from AOCI | | (3,902 | ) | | — |
| | (3,902 | ) | | (4,908 | ) | | — |
| | (4,908 | ) | Changes, net of taxes | | 7,916 |
| | 8,013 |
| | 15,929 |
| | 12,993 |
| | (5,226 | ) | | 7,767 |
| Ending balance | | $ | (20,856 | ) | | $ | (11,361 | ) | | $ | (32,217 | ) | | $ | 6,849 |
| | $ | (14,023 | ) | | $ | (7,174 | ) | | | | | | | | | | | | | |
| | (1) | Represents foreign currency translation adjustments related to the Company’s net investment in non-U.S. operations, including related hedges. The functional currency and reporting currency of the Company’s foreign subsidiary was Chinese Renminbi and USD, respectively. |
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Schedule of components of other comprehensive income, reclassifications to net income and the related tax effects |
The following tables present the components of other comprehensive income, reclassifications to net income and the related tax effects for the three and nine months ended September 30, 2017 and 2016: | | | | | | | | | | | | | | | | | | | | | | | | | | | ($ in thousands) | | Three Months Ended September 30, | | 2017 | | 2016 | | Before-Tax | | Tax Effect | | Net-of-Tax | | Before-Tax | | Tax Effect | | Net-of-Tax | Available-for-sale investment securities: | | |
| | |
| | |
| | |
| | |
| | |
| Net unrealized losses arising during the period | | $ | (1,749 | ) | | $ | 735 |
| | $ | (1,014 | ) | | $ | (6,677 | ) | | $ | 2,808 |
| | $ | (3,869 | ) | Net realized gains reclassified into net income (1) | | (1,539 | ) | | 647 |
| | (892 | ) | | (1,790 | ) | | 752 |
| | (1,038 | ) | Net change | | (3,288 | ) | | 1,382 |
| | (1,906 | ) | | (8,467 | ) | | 3,560 |
| | (4,907 | ) | | | | | | | | | | | | | | Foreign currency translation adjustments: | | | | | | | | | | | | | Net unrealized gains (losses) arising during period | | 3,870 |
| | — |
| | 3,870 |
| | (555 | ) | | — |
| | (555 | ) | Net change | | 3,870 |
| | — |
| | 3,870 |
| | (555 | ) | | — |
| | (555 | ) | Other comprehensive income (loss) | | $ | 582 |
| | $ | 1,382 |
| | $ | 1,964 |
| | $ | (9,022 | ) | | $ | 3,560 |
| | $ | (5,462 | ) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | ($ in thousands) | | Nine Months Ended September 30, | | 2017 | | 2016 | | Before-Tax | | Tax Effect | | Net-of-Tax | | Before-Tax | | Tax Effect | | Net-of-Tax | Available-for-sale investment securities: | | |
| | |
| | |
| | |
| | |
| | |
| Net unrealized gains arising during the period | | $ | 20,392 |
| | $ | (8,574 | ) | | $ | 11,818 |
| | $ | 30,888 |
| | $ | (12,987 | ) | | $ | 17,901 |
| Net realized gains reclassified into net income (1) | | (6,733 | ) | | 2,831 |
| | (3,902 | ) | | (8,468 | ) | | 3,560 |
| | (4,908 | ) | Net change | | 13,659 |
| | (5,743 | ) | | 7,916 |
| | 22,420 |
| | (9,427 | ) | | 12,993 |
| | | | | | | | | | | | | | Foreign currency translation adjustments: | | | | | | | | | | | | | Net unrealized gains (losses) arising during period | | 8,013 |
| | — |
| | 8,013 |
| | (5,226 | ) | | — |
| | (5,226 | ) | Net change | | 8,013 |
| | — |
| | 8,013 |
| | (5,226 | ) | | — |
| | (5,226 | ) | Other comprehensive income | | $ | 21,672 |
| | $ | (5,743 | ) | | $ | 15,929 |
| | $ | 17,194 |
| | $ | (9,427 | ) | | $ | 7,767 |
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| | (1) | For the three and nine months ended September 30, 2017 and 2016, pre-tax amounts were reported in Net gains on sales of available-for-sale investment securities on the Consolidated Statements of Income. |
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