Changes in Accumulated Other Comprehensive (Loss) Income by Component (Tables)

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income

The following table provides a summary of the changes in accumulated other comprehensive (loss) income for the nine months ended September 30, 2023 and 2022:

	Unrealized gains and losses on available-for-sale securities1
	Nine Months Ended September 30,
	2023		2022
	(in thousands)
Accumulated other comprehensive (loss) income — beginning balance	$	(3,477)	$	4,000
Other comprehensive loss before reclassifications	(1,306)		(9,530)
Losses reclassified from other comprehensive loss2	6		23
Net current period other comprehensive loss3	(1,300)		(9,507)
Accumulated other comprehensive loss — ending balance	$	(4,777)	$	(5,507)

1.All amounts are net of tax.

2.Realized gains and losses were recorded pre-tax under “Investment and other income (loss), net” in the Consolidated Statements of Comprehensive (Loss) Income. For the nine months ended September 30, 2023 and 2022, the Company recorded less than $0.1 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, 2023 and 2022, the changes in other comprehensive (loss) income were net of a tax benefit of $0.3 million and a benefit of $2.5 million, respectively.

Schedule of Reclassification out of Accumulated Other Comprehensive Income

	Amounts Reclassified from Accumulated Other Comprehensive Loss
	2023		2022
	(in thousands)
Three Months Ended September 30,
Losses from the sale of available-for-sale securities	$	(4)	$	(5)
Tax benefit	1		2
Net loss reclassified from accumulated other comprehensive loss	$	(3)	$	(3)
Nine Months Ended September 30,
Losses from the sale of available-for-sale securities	$	(8)	$	(31)
Tax benefit	2		8
Net loss reclassified from accumulated other comprehensive loss	$	(6)	$	(23)