Note 5 - Accumulated Other Comprehensive Income

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

5.

      

Accumulated Other Comprehensive Income

The following table sets forth our changes in accumulated other comprehensive income:

	Year Ended December 31,
	2016			2015		2014
	(Dollars in thousands)
Unrealized gains (losses) on available-for-sale marketable securities (1) :
Beginning balance	$	3,657		$	2,775	$	7,655
Other comprehensive income (loss) before reclassifications		4,738			322		(3,025	)
Amounts reclassified from AOCI (2)		(665	)		560		(1,855	)
Ending balance	$	7,730		$	3,657	$	2,775
Unrealized gains on available-for-sale metropolitan district bond securities (1) :
Beginning balance	$	12,058		$	7,680	$	3,920
Other comprehensive income before reclassifications		2,283			4,378		3,760
Ending balance	$	14,341		$	12,058	$	7,680
Total ending AOCI	$	22,071		$	15,715	$	10,455

(1) All amounts net-of-tax.

(2) See separate table below for details about these reclassifications.

The following table sets forth the activity related to reclassifications out of accumulated other comprehensive income (loss) related to available for sale securities:

	Year Ended December 31,
Affected Line Item in the Statements of Operations	2016			2015			2014
	(Dollars in thousands)
Homebuilding: Interest and other income	$	2,049		$	2,690		$	7,210
Homebuilding: Other-than-temporary impairment of marketable securities		(1,070	)		(3,969	)		(4,293	)
Financial services: Interest and other income		467			368			100
Financial services: Other-than-temporary impairment of marketable securities		(373	)		-			-
Income before income taxes		1,073			(911	)		3,017
Provision for income taxes		(408	)		351			(1,162	)
Net income	$	665		$	(560	)	$	1,855