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Accumulated Other Comprehensive Income (Loss)
 6 Months Ended
Jun. 30, 2018
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)

The following tables present the changes in the components of AOCI balances for the three and six months ended June 30, 2018 and 2017:
 
($ in thousands)
 
Three Months Ended June 30,
 
2018
 
2017
 
Available-
for-Sale
Investment
Securities
 
Foreign
Currency
Translation
Adjustments (1)
 
Total
 
Available-
for-Sale
Investment
Securities
 
Foreign
Currency
Translation
Adjustments (1)
 
Total
Beginning balance
 
$
(55,981
)
 
$
177

 
$
(55,804
)
 
$
(25,151
)
 
$
(18,367
)
 
$
(43,518
)
Net unrealized (losses) gains arising during the period
 
(8,693
)
 
(6,822
)
 
(15,515
)
 
7,777

 
3,136

 
10,913

Amounts reclassified from AOCI
 
(148
)
 
—

 
(148
)
 
(1,576
)
 
—

 
(1,576
)
Changes, net of taxes
 
(8,841
)
 
(6,822
)
 
(15,663
)
 
6,201

 
3,136

 
9,337

Ending balance
 
$
(64,822
)
 
$
(6,645
)
 
$
(71,467
)
 
$
(18,950
)
 
$
(15,231
)
 
$
(34,181
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
($ in thousands)
 
Six Months Ended June 30,
 
2018
 
2017
 
Available-
for-Sale
Investment
Securities
 
Foreign
Currency
Translation
Adjustments (1)
 
Total
 
Available-
for-Sale
Investment
Securities
 
Foreign
Currency
Translation
Adjustments (1)
 
Total
Beginning balance
 
$
(30,898
)
 
$
(6,621
)
 
$
(37,519
)
 
$
(28,772
)
 
$
(19,374
)
 
$
(48,146
)
Cumulative effect of change in accounting principle related to marketable equity securities (2)
 
385

 
—

 
385

 
—

 
—

 
—

Reclassification of tax effects in AOCI resulting from the new federal corporate income tax rate (3)
 
(6,656
)
 
—

 
(6,656
)
 
—

 
—

 
—

Beginning balance, adjusted
 
(37,169
)
 
(6,621
)
 
(43,790
)
 
(28,772
)
 
(19,374
)
 
(48,146
)
Net unrealized (losses) gains arising during the period
 
(26,004
)
 
(24
)
 
(26,028
)
 
12,832

 
4,143

 
16,975

Amounts reclassified from AOCI
 
(1,649
)
 
—

 
(1,649
)
 
(3,010
)
 
—

 
(3,010
)
Changes, net of taxes
 
(27,653
)
 
(24
)
 
(27,677
)
 
9,822

 
4,143

 
13,965

Ending balance
 
$
(64,822
)
 
$
(6,645
)
 
$
(71,467
)
 
$
(18,950
)
 
$
(15,231
)
 
$
(34,181
)
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)
Represents foreign currency translation adjustments related to the Company’s net investment in non-U.S. operations, including related hedges. The functional currency and reporting currency of the Company’s foreign subsidiary was Chinese Renminbi and USD, respectively.
(2)
Represents the impact of the adoption in the first quarter of 2018 of ASU 2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. Refer to Note 2 — Current Accounting Developments to the Consolidated Financial Statements for additional information.
(3)
Represents amounts reclassified from AOCI to retained earnings due to early adoption of ASU 2018-02, Income Statement — Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. Refer to Note 2 — Current Accounting Developments to the Consolidated Financial Statements for additional information.

The following tables present the components of other comprehensive income (loss), reclassifications to net income and the related tax effects for the three and six months ended June 30, 2018 and 2017:
 
($ in thousands)
 
Three Months Ended June 30,
 
2018
 
2017
 
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
 
$
(12,342
)
 
$
3,649

 
$
(8,693
)
 
$
13,420

 
$
(5,643
)
 
$
7,777

Net realized gains reclassified into net income (1)
 
(210
)
 
62

 
(148
)
 
(2,720
)
 
1,144

 
(1,576
)
Net change
 
(12,552
)
 
3,711

 
(8,841
)
 
10,700

 
(4,499
)
 
6,201

Foreign currency translation adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized (losses) gains arising during the period
 
(6,822
)
 
—

 
(6,822
)
 
3,136

 
—

 
3,136

Net change
 
(6,822
)
 
—

 
(6,822
)
 
3,136

 
—

 
3,136

Other comprehensive (loss) income
 
$
(19,374
)
 
$
3,711

 
$
(15,663
)
 
$
13,836

 
$
(4,499
)
 
$
9,337

 
 
($ in thousands)
 
Six Months Ended June 30,
 
2018
 
2017
 
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
 
$
(36,919
)
 
$
10,915

 
$
(26,004
)
 
$
22,141

 
$
(9,309
)
 
$
12,832

Net realized gains reclassified into net income (1)
 
(2,339
)
 
690

 
(1,649
)
 
(5,194
)
 
2,184

 
(3,010
)
Net change
 
(39,258
)
 
11,605

 
(27,653
)
 
16,947

 
(7,125
)
 
9,822

Foreign currency translation adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized (losses) gains arising during the period
 
(24
)
 
—

 
(24
)
 
4,143

 
—

 
4,143

Net change
 
(24
)
 
—

 
(24
)
 
4,143

 
—

 
4,143

Other comprehensive (loss) income
 
$
(39,282
)
 
$
11,605

 
$
(27,677
)
 
$
21,090

 
$
(7,125
)
 
$
13,965

 
(1)
For the three and six months ended June 30, 2018 and 2017, pre-tax amounts were reported in Net gains on sales of available-for-sale investment securities on the Consolidated Statement of Income.