NOTE 9 SHAREHOLDERS’ EQUITY

The Company has authorization from the Board of Directors for the repurchase of up to four million common shares in any calendar year. The repurchases may be made using our cash and cash equivalents or other available sources. We had no purchases of common shares during the fiscal years ended September 30, 2018, 2017 and 2016.

Accumulated Other Comprehensive Income (Loss)

Components of accumulated other comprehensive income (loss) were as follows:


	September 30,
	2018		2017		2016
	(in thousands)
Pre-tax amounts:
Unrealized appreciation on securities	$	44,023	$	31,700	$	33,051
Unrealized actuarial loss		(21,693)		(28,873)		(34,112)
	$	22,330	$	2,827	$	(1,061)
After-tax amounts:
Unrealized appreciation on securities	$	29,071	$	20,070	$	20,899
Unrealized actuarial loss		(12,521)		(17,770)		(21,103)
	$	16,550	$	2,300	$	(204)

The following is a summary of the changes in accumulated other comprehensive income (loss), net of tax, by component for the fiscal year ended September 30, 2018:


	Unrealized
	Appreciation on		Defined
	Available-for-sale		Benefit
	Securities		Pension Plan		Total
	(in thousands)
Balance at September 30, 2017	$	20,070	$	(17,770)	$	2,300
Other comprehensive income before reclassifications		9,001		—		9,001
Amounts reclassified from accumulated other comprehensive income		—		5,249		5,249
Net current-period other comprehensive income		9,001		5,249		14,250
Balance at September 30, 2018	$	29,071	$	(12,521)	$	16,550

The following provides detail about accumulated other comprehensive income (loss) components which were reclassified to the Consolidated Statements of Operations during the fiscal years ended September 30, 2018, 2017 and 2016:


	Amount
	Reclassified from
	Accumulated Other
	Comprehensive						Affected Line
Details About Accumulated Other	Income (Loss)						Item in the Consolidated
Comprehensive Income (Loss) Components	2018		2017		2016		Statements of Operations
	(in thousands)
Other-than-temporary impairment of available-for-sale securities	$	—	$	—	$	1,509	Loss on investment securities
		—		—		(583)	Income tax provision
		—		—		926	Net of tax

Amortization of net actuarial loss on defined benefit pension plan	$	7,180	$	5,238	$	(3,968)	Selling, general and administrative
		(1,931)		(1,905)		1,443	Income tax provision
		5,249		3,333		(2,525)	Net of tax
Total reclassifications for the period	$	5,249	$	3,333	$	(1,599)