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Accumulated Other Comprehensive Loss (Tables)
 12 Months Ended
Dec. 31, 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 income at December 31, 2016

 

$

2,507

Other comprehensive income before reclassifications

 

 

1,235

Amounts reclassified from accumulated other comprehensive income

 

 

(5,203)

Other comprehensive loss

 

 

(3,968)

Accumulated other comprehensive loss at December 31, 2017

 

$

(1,461)

Other comprehensive loss before reclassifications

 

 

(2,127)

Amounts reclassified from accumulated other comprehensive loss

 

 

2,914

Other comprehensive income

 

 

787

Accumulated other comprehensive loss at December 31, 2018

 

$

(674)

 

Summary of Tax Effects Allocated to Other Comprehensive Income

The following is a summary of the tax effects allocated to other comprehensive income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 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

 

$

(2,845)

 

$

723

 

$

(2,122)

Unrealized loss on restricted investments

 

 

(6)

 

 

 2

 

 

(4)

Reclassification adjustment for net loss included in earnings

 

 

1,061

 

 

(269)

 

 

792

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

 

 

2,330

 

 

(592)

 

 

1,738

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

 

 

1,472

 

 

(685)

 

 

787

Other comprehensive income

 

$

1,472

 

$

(685)

 

$

787

(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 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 loss to retained earnings for stranded tax effects resulting from the Tax Act. See Note 2. Summary of Significant Accounting Policies.

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2017

 

    

Before-

    

Tax (Expense) or

    

Net-of-

 

 

Tax Amount

 

Benefit

 

Tax Amount

Unrealized gain (loss) on investments and restricted investments:

 

 

  

 

 

  

 

 

  

Unrealized gain on available-for-sale investments

 

$

2,015

 

$

(774)

 

$

1,241

Unrealized loss on restricted investments

 

 

(9)

 

 

 3

 

 

(6)

Reclassification adjustment for net gain included in earnings

 

 

(10,750)

 

 

4,139

 

 

(6,611)

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

 

 

2,288

 

 

(880)

 

 

1,408

Net unrealized loss

 

 

(6,456)

 

 

2,488

 

 

(3,968)

Other comprehensive loss

 

$

(6,456)

 

$

2,488

 

$

(3,968)