ACCUMULATED OTHER COMPREHENSIVE INCOME

6 Months Ended

Jun. 30, 2023

The following tables summarize changes in the accumulated balances for each component of AOCI, including current-period other comprehensive income and reclassifications out of AOCI, for the periods presented.


	Three Months Ended June 30, 2023
	Unrealized Gains (Losses) on Cash Flow Hedges		Unrealized Gains (Losses) on Available-for-Sale Debt Securities		Total
AOCI balance as of March 31, 2023	$	(2,647)	$	(8,075)	$	(10,722)
Other comprehensive income (loss) before reclassifications	(6,737)		(661)		(7,398)
Less: gain (loss) reclassified from AOCI	651		—		651
Tax effect	—		154		154
Net current-period other comprehensive income (loss)	(7,388)		(507)		(7,895)
AOCI balance as of June 30, 2023	$	(10,035)	$	(8,582)	$	(18,617)


	Three Months Ended June 30, 2022
	Unrealized Gains (Losses) on Cash Flow Hedges		Unrealized Gains (Losses) on Available-for-Sale Debt Securities		Total
AOCI balance as of March 31, 2022	$	8,387	$	(9,264)	$	(877)
Other comprehensive income (loss) before reclassifications	26,255		(3,620)		22,635
Less: gain (loss) reclassified from AOCI	4,127		—		4,127
Tax effect	—		841		841
Net current-period other comprehensive income (loss)	22,128		(2,779)		19,349
AOCI balance as of June 30, 2022	$	30,515	$	(12,043)	$	18,472


	Six Months Ended June 30, 2023
	Unrealized Gains (Losses) on Cash Flow Hedges		Unrealized Gains (Losses) on Available-for-Sale Debt Securities		Total
AOCI balance as of December 31, 2022	$	8,226	$	(12,093)	$	(3,867)
Other comprehensive income (loss) before reclassifications	(14,596)		4,586		(10,010)
Less: gain (loss) reclassified from AOCI	3,665		—		3,665
Tax effect	—		(1,075)		(1,075)
Net current-period other comprehensive income (loss)	(18,261)		3,511		(14,750)
AOCI balance as of June 30, 2023	$	(10,035)	$	(8,582)	$	(18,617)


	Six Months Ended June 30, 2022
	Unrealized Gains (Losses) on Cash Flow Hedges		Unrealized Gains (Losses) on Available-for-Sale Debt Securities		Total
AOCI balance as of December 31, 2021	$	15,805	$	(1,373)	$	14,432
Other comprehensive income (loss) before reclassifications	23,030		(13,894)		9,136
Less: gain (loss) reclassified from AOCI	8,320		—		8,320
Tax effect	—		3,224		3,224
Net current-period other comprehensive income (loss)	14,710		(10,670)		4,040
AOCI balance as of June 30, 2022	$	30,515	$	(12,043)	$	18,472

For additional discussion of reclassifications from AOCI see Note 5 – Derivative Instruments and Hedging Strategies.