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Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in the components of AOCI balances for the years ended December 31, 2019, 2018 and 2017:
 
($ in thousands)
 
AFS
Investment
Securities
 
Foreign
Currency
Translation
Adjustments (1)
 
Total
Balance, December 31, 2016
 
$
(28,772
)
 
$
(19,374
)
 
$
(48,146
)
Net unrealized gains arising during the period
 
2,531

 
12,753

 
15,284

Amounts reclassified from AOCI
 
(4,657
)
 
—

 
(4,657
)
Changes, net of tax
 
(2,126
)
 
12,753

 
10,627

Balance, December 31, 2017
 
$
(30,898
)
 
$
(6,621
)
 
$
(37,519
)
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
)
Balance, January 1, 2018, adjusted
 
(37,169
)
 
(6,621
)
 
(43,790
)
Net unrealized losses arising during the period
 
(6,866
)
 
(5,732
)
 
(12,598
)
Amounts reclassified from AOCI
 
(1,786
)
 
—

 
(1,786
)
Changes, net of tax
 
(8,652
)
 
(5,732
)
 
(14,384
)
Balance, December 31, 2018
 
$
(45,821
)
 
$
(12,353
)
 
$
(58,174
)
Net unrealized gains (losses) arising during the period
 
46,170

 
(3,636
)
 
42,534

Amounts reclassified from AOCI
 
(2,768
)
 
—

 
(2,768
)
Changes, net of tax
 
43,402

 
(3,636
)
 
39,766

Balance, December 31, 2019
 
$
(2,419
)
 
$
(15,989
)
 
$
(18,408
)
 
(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 RMB and USD, respectively.
(2)
Represents the impact of the adoption of ASU 2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities in the first quarter of 2018.
(3)
Represents amounts reclassified from AOCI to retained earnings due to the early adoption of ASU 2018-02, Income Statement — Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income in the first quarter of 2018.

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, 2019, 2018 and 2017:
 
($ in thousands)
 
Year Ended December 31,
 
2019
 
2018
 
2017
 
Before -
Tax
 
Tax
Effect
 
Net-of-
Tax
 
Before -
Tax
 
Tax
Effect
 
Net-of-
Tax
 
Before -
Tax
 
Tax
Effect
 
Net-of-
Tax
AFS investment securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gains (losses) arising during the period
 
$
65,549

 
$
(19,379
)
 
$
46,170

 
$
(9,748
)
 
$
2,882

 
$
(6,866
)
 
$
4,368

 
$
(1,837
)
 
$
2,531

Net realized gains reclassified into net income (1)
 
(3,930
)
 
1,162

 
(2,768
)
 
(2,535
)
 
749

 
(1,786
)
 
(8,037
)
 
3,380

 
(4,657
)
Net change
 
61,619

 
(18,217
)
 
43,402

 
(12,283
)
 
3,631

 
(8,652
)
 
(3,669
)
 
1,543

 
(2,126
)
Foreign currency translation adjustments, net of hedges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gains (losses) arising during the period (2)
 
290

 
(3,926
)
 
(3,636
)
 
(5,732
)
 
—

 
(5,732
)
 
12,753

 
—

 
12,753

Net change
 
290

 
(3,926
)
 
(3,636
)
 
(5,732
)
 
—

 
(5,732
)
 
12,753

 
—

 
12,753

Other comprehensive income (loss)
 
$
61,909

 
$
(22,143
)
 
$
39,766

 
$
(18,015
)
 
$
3,631

 
$
(14,384
)
 
$
9,084

 
$
1,543

 
$
10,627

 
(1)
For the years ended December 31, 2019, 2018 and 2017, pre-tax amounts were reported in Net gains on sales of AFS investment securities on the Consolidated Statement of Income.
(2)
The tax effects on foreign currency translation adjustments represent the cumulative net deferred tax liabilities since inception on net investment hedges that were recorded during the year ended December 31, 2019.