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Accumulated Other Comprehensive Loss (Tables)
 9 Months Ended
Sep. 30, 2018
Accumulated Other Comprehensive Loss  
Summary of Changes in Accumulated Other Comprehensive Loss

 

 

 

 

 

    

Unrealized Gain and

 

 

(Loss) on Available-

 

 

for-Sale Securities

Accumulated other comprehensive loss at December 31, 2017

 

$

(1,461)

Other comprehensive income before reclassifications

 

 

(1,295)

Amounts reclassified from accumulated other comprehensive loss

 

 

2,454

Other comprehensive income

 

 

1,159

Accumulated other comprehensive loss at September 30, 2018

 

$

(302)

 

Summary of Tax Effects Allocated to Other Comprehensive Income (Loss)

Following is a summary of the tax effects allocated to other comprehensive income (loss) for the three months ended September 30, 2018 and 2017:

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 2018

 

    

Before-

    

Tax Benefit or

    

Net-of-

 

 

Tax Amount

 

(Expense)

 

Tax Amount

Unrealized loss on investments - debt securities:

 

 

  

 

 

  

 

 

  

Unrealized loss on available-for-sale investments

 

$

(1,244)

 

$

316

 

$

(928)

Reclassification adjustment for other-than-temporary impairment loss included in earnings

 

 

1,660

 

 

(421)

 

 

1,239

Net unrealized gain

 

 

416

 

 

(105)

 

 

311

Other comprehensive income

 

$

416

 

$

(105)

 

$

311

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 2017

 

    

Before-

    

Tax Benefit or

    

Net-of-

 

 

Tax Amount

 

(Expense)

 

Tax Amount

Unrealized (loss) gain on investments and restricted investments:

 

 

  

 

 

  

 

 

  

Unrealized loss on available-for-sale investments

 

$

(683)

 

$

263

 

$

(420)

Unrealized gain on restricted investments

 

 

 4

 

 

(2)

 

 

 2

Reclassification adjustment for net loss included in earnings

 

 

104

 

 

(40)

 

 

64

Reclassification adjustment for other-than-temporary impairment loss included in earnings

 

 

403

 

 

(296)

 

 

107

Net unrealized loss

 

 

(172)

 

 

(75)

 

 

(247)

Other comprehensive loss

 

$

(172)

 

$

(75)

 

$

(247)

 

Following is a summary of the tax effects allocated to other comprehensive income (loss) for the nine months ended September 30, 2018 and 2017:

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2018

 

    

Before-

    

Tax Benefit or

    

Net-of-

 

 

Tax Amount

 

(Expense) 

 

Tax Amount

Unrealized loss on investments - debt securities and restricted investments:

 

 

  

 

 

  

 

 

  

Unrealized loss on available-for-sale investments

 

$

(1,726)

 

$

438

 

$

(1,288)

Unrealized loss on restricted investments

 

 

(9)

 

 

 2

 

 

(7)

Reclassification adjustment for net loss included in earnings

 

 

1,050

 

 

(266)

 

 

784

Reclassification adjustment for other-than-temporary impairment loss included in earnings

 

 

1,723

 

 

(436)

 

 

1,287

Reclassification into retained earnings for the adoption of ASU 2016-01 (1)

 

 

932

 

 

(236)

 

 

696

Reclassification into retained earnings for the adoption of ASU 2018-02 (2)

 

 

 —

 

 

(313)

 

 

(313)

Net unrealized gain

 

 

1,970

 

 

(811)

 

 

1,159

Other comprehensive income

 

$

1,970

 

$

(811)

 

$

1,159

(1)

The reclassification into retained earnings relates to the adoption of ASU 2016‑01. The new guidance was effective January 1, 2018, and required 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)

The reclassification into retained earnings relates to the adoption of ASU 2018‑02. The new guidance was effective January 1, 2018, and allowed a reclassification from accumulated other comprehensive income (loss) to retained earnings for stranded tax effects resulting from the Tax Act. See Note 2. Summary of Significant Accounting Policies.

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2017

 

    

Before-

    

Tax (Expense) or

    

Net-of-

 

 

Tax Amount

 

Benefit

 

Tax Amount

Unrealized gain on investments:

 

 

  

 

 

  

 

 

  

Unrealized gain on available-for-sale investments

 

$

3,967

 

$

(1,526)

 

$

2,441

Unrealized gain on restricted investments

 

 

 4

 

 

(2)

 

 

 2

Reclassification adjustment for net gain included in earnings

 

 

(10,757)

 

 

4,143

 

 

(6,614)

Reclassification adjustment for other-than-temporary impairment loss included in earnings

 

 

769

 

 

(296)

 

 

473

Net unrealized loss

 

 

(6,017)

 

 

2,319

 

 

(3,698)

Other comprehensive loss

 

$

(6,017)

 

$

2,319

 

$

(3,698)