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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 12 Months Ended
Dec. 31, 2016
Equity [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
NOTE 17 — ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table presents the changes in the components of AOCI balances for the years ended December 31, 2016, 2015 and 2014:
 
($ in thousands)
 
Year Ended December 31,
 
2016
 
2015
 
2014
 
Available-
for-Sale
Investment
Securities
 
Foreign
Currency
Translation
Adjustments (1)
 
Total
 
Available-
for-Sale
Investment
Securities
 
Foreign
Currency
Translation
Adjustments (1)
 
Total
 
Available-
for-Sale
Investment
Securities
 
Total
Beginning balance
 
$
(6,144
)
 
$
(8,797
)
 
$
(14,941
)
 
$
4,237

 
$
—

 
$
4,237

 
$
(30,459
)
 
$
(30,459
)
Net unrealized (losses) gains arising during the period
 
(16,623
)
 
(10,577
)
 
(27,200
)
 
13,012

 
(8,797
)
 
4,215

 
40,911

 
40,911

Amounts reclassified from AOCI
 
(6,005
)
 
—

 
(6,005
)
 
(23,393
)
 
—

 
(23,393
)
 
(6,215
)
 
(6,215
)
Changes, net of taxes
 
(22,628
)
 
(10,577
)
 
(33,205
)
 
(10,381
)
 
(8,797
)
 
(19,178
)
 
34,696

 
34,696

Ending balance
 
$
(28,772
)
 
$
(19,374
)
 
$
(48,146
)
 
$
(6,144
)
 
$
(8,797
)
 
$
(14,941
)
 
$
4,237

 
$
4,237

 
(1)
Represents foreign currency translation adjustments related to the Company’s net investment in non-U.S. operations, including related hedges. In the third quarter of 2015, there was a change in functional currency from USD to the local currency of the Company’s foreign subsidiary.

The following table presents the components of other comprehensive income (loss), reclassifications to net income and the related tax effects for the years ended December 31, 2016, 2015 and 2014:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
($ in thousands)
 
Year Ended December 31,
 
2016
 
2015
 
2014
 
Before -
Tax
 
Tax
Effect
 
Net-of-
Tax
 
Before -
Tax
 
Tax
Effect
 
Net-of-
Tax
 
Before -
Tax
 
Tax
Effect
 
Net-of-
Tax
Available-for-sale investment securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized (losses) gains arising during the period
 
$
(28,681
)
 
$
12,058

 
$
(16,623
)
 
$
22,454

 
$
(9,442
)
 
$
13,012

 
$
70,537

 
$
(29,626
)
 
$
40,911

Net realized gains reclassified into net income (1)
 
(10,362
)
 
4,357

 
(6,005
)
 
(40,367
)
 
16,974

 
(23,393
)
 
(10,715
)
 
4,500

 
(6,215
)
Net change
 
(39,043
)
 
16,415

 
(22,628
)
 
(17,913
)
 
7,532

 
(10,381
)
 
59,822

 
(25,126
)
 
34,696

Foreign currency translation adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized losses arising during period
 
(10,577
)
 
—

 
(10,577
)
 
(8,797
)
 
—

 
(8,797
)
 
—

 
—

 
—

Net change
 
(10,577
)
 
—

 
(10,577
)
 
(8,797
)
 
—

 
(8,797
)
 
—

 
—

 
—

Other comprehensive (loss)income
 
$
(49,620
)
 
$
16,415

 
$
(33,205
)
 
$
(26,710
)
 
$
7,532

 
$
(19,178
)
 
$
59,822

 
$
(25,126
)
 
$
34,696

 
(1)
For the years ended December 31, 2016, 2015 and 2014, the pretax amounts were reported in Net gains on sales of available-for-sale investment securities on the Consolidated Statements of Income.