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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Net income: $ 10,228 $ 26,067 $ 12,207 $ 26,692
Other comprehensive (loss) income:        
Reclassification of net realized (gain) loss included in earnings   (28) 2 1,050
Reclassification into retained earnings [1]       932
Reclassification of other-than-temporary impairment loss included in earnings       63
Total before income taxes (2) 293 810 1,554
Income tax expense [2]   (74) (206) (706)
Total other comprehensive (loss) income, net of tax (2) 219 604 848
Total comprehensive income, net of tax 10,226 26,286 12,811 27,540
Unrestricted available-for-sale, Debt securities        
Other comprehensive (loss) income:        
Net unrealized (loss) gain on investments (9) $ 321 790 (482)
Restricted        
Other comprehensive (loss) income:        
Net unrealized (loss) gain on investments $ 7   $ 18 $ (9)
[1] The reclassification into retained earnings for the six months ended June 30, 2018 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 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.Income tax expense for the six months ended June 30, 2018
[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 allowed a reclassification from accumulated other comprehensive loss to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act (the “Tax Act”).