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

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income

The following tables provide a summary of the changes in accumulated other comprehensive income, net of taxes:

	Unrealized Gains and (Losses) on Available-for-Sale Securities1
	Year Ended December 31,
	2023		2022		2021
	(in thousands)
Accumulated other comprehensive (loss) income — beginning balance	$	(3,477)	$	4,000	$	5,563
Other comprehensive income (loss) before reclassifications	1,624		(7,505)		(1,522)
Losses (gains) reclassified from other comprehensive income2	9		28		(41)
Net current period other comprehensive income (loss)3	1,633		(7,477)		(1,563)
Accumulated other comprehensive (loss) income — ending balance	$	(1,844)	$	(3,477)	$	4,000

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 Income. For the years ended December 31, 2023 and 2022, the Company recorded less than $0.1 million of realized losses from the sale of available-for-sale securities. For the year ended December 31, 2021, the Company recorded $0.1 million of realized gains from the sale of available-for-sale securities. Refer to Note 10 — Fair Value Measurements herein for further information.

3.For the year ended December 31, 2023, the change in other comprehensive (loss) income was net of a tax expense of $0.4 million. For the years ended December 31, 2022 and 2021, the changes in other comprehensive (loss) income were net of a tax benefit of $2.0 million and benefit of $0.4 million, respectively.

Schedule of Reclassification out of Accumulated Other Comprehensive Income

	Amounts Reclassified from Accumulated Other Comprehensive (Loss) Income
	2023		2022		2021
	(in thousands)
Year Ended December 31,
(Losses) gains from the sale of available-for-sale securities	$	(12)	$	(37)	$	55
Tax benefit (expense)	3		9		(14)
Net (loss) gain reclassified from accumulated other comprehensive income	$	(9)	$	(28)	$	41