Changes in Accumulated Other Comprehensive Income by Component (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of Accumulated Other Comprehensive Income

The following table provides a summary of the changes in accumulated other comprehensive income for the nine months ended September 30, 2019 and 2018:


	Unrealized Gains and Losses on Available-for-Sale Securities¹
	Nine Months Ended September 30,
	2019		2018
	(in thousands)
Accumulated other comprehensive income — beginning balance	$	158	$	837
Other comprehensive income (loss) before reclassifications	2,754		(1,694)
(Gains) losses reclassified from other comprehensive income²	(90)		145
Net current period other comprehensive income (loss)³	2,664		(1,549)
Accumulated other comprehensive income (loss) — ending balance	$	2,822	$	(712)

1.All amounts are net of tax

2.Realized gains and losses were recorded pre-tax under “Investment and other income” in the Consolidated Statements of Comprehensive Income. For the nine months ended September 30, 2019, the Company recorded $0.1 million of realized gains from the sale of available-for-sale securities. For the nine months ended September 30, 2018, the Company recorded $0.2 million of realized losses from the sale of available-for-sale securities. Refer to Note 9—Fair Value Measurements herein for further information.

3.For the nine months ended September 30, 2019 and 2018, the changes in other comprehensive income (loss) were net of a tax expense of $0.7 million and a benefit of $0.3 million, respectively.

Reclassification out of Accumulated Other Comprehensive Income


	Amounts Reclassified from Accumulated Other Comprehensive Income
	2019		2018
	(in thousands)
Three Months Ended September 30,
Gains (losses) from the sale of available-for-sale securities	$	14	$	(24)
Tax (expense) benefit	(3)		5
Net gain (loss) reclassified from accumulated other comprehensive income	$	11	$	(19)
Nine Months Ended September 30,
Gains (losses) from the sale of available-for-sale securities	$	117	$	(180)
Tax (expense) benefit	(27)		35
Net gain (loss) reclassified from accumulated other comprehensive income	$	90	$	(145)