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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Net income: $ 26,067 $ 10,614 $ 26,692 $ 14,802
Other comprehensive income (loss), net of tax:        
Reclassification of net realized (gain) loss included in earnings (28) (7,739) 1,050 (10,861)
Reclassification into retained earnings [1]     932  
Reclassification of other-than-temporary impairment loss included in earnings     63 366
Other comprehensive loss, Before-tax-amount 293 (6,998) 1,554 (5,845)
Income tax (expense) benefit [2] (74) 2,835 (706) 2,394
Total other comprehensive income (loss), net of tax 219 (4,163) 848 (3,451)
Total comprehensive income, net of tax 26,286 6,451 27,540 11,351
Unrestricted available-for-sale, Debt securities        
Other comprehensive income (loss), net of tax:        
Net unrealized gain (loss) on available-for-sale investments $ 321   (482)  
Unrestricted available-for-sale, Debt and equity securities        
Other comprehensive income (loss), net of tax:        
Net unrealized gain (loss) on available-for-sale investments   745   $ 4,650
Restricted        
Other comprehensive income (loss), net of tax:        
Net unrealized gain (loss) on available-for-sale investments   $ (4) $ (9)  
[1] The reclassification into retained earnings relates to the adoption of Accounting Standards Update (“ASU”) 201601 Financial Instruments - Overall, as amended (“ASU 201601”). The new guidance was effective January 1, 2018, and requires equity investments to be measured at fair value with changes in fair value recognized in results of operations rather than the condensed consolidated statements of comprehensive income. See Note 2. Summary of Significant Accounting Policies.
[2] Income tax expense for the six months ended June 30, 2018 includes $0.3 million of income tax expense related to the adoption of ASU 201802 Income Statement - Reporting Comprehensive Income (“ASU 201802”). The new guidance was effective January 1, 2018, and allows a reclassification from accumulated other comprehensive income (loss) to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act (the “Tax Act”). See Note 2. Summary of Significant Accounting Policies.