Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2015

Accumulated Other Comprehensive Income (Loss) [Abstract]

Accumulated Other Comprehensive Income (Loss)

6. Accumulated Other Comprehensive Income (Loss)

Unrealized gains or losses related to derivative securities are recorded in accumulated other comprehensive income (loss) (“AOCI”). The change in unrealized gains or losses related to derivative securities are recorded in other comprehensive income (loss) net of income taxes in the period the change occurred. When derivative securities designated as cash flow hedges are used to pay vendors, the effective portion of the hedge is reclassified into the statement of operations and recorded in net revenue, non-directly delivered programs.

Unrealized gains or losses related to available-for-sale securities are recorded in AOCI. The change in unrealized gains or losses related to available-for-sale securities are recorded in other comprehensive income net of income taxes in the period the change occurred. When securities are sold and a realized gain or loss is recognized, the amount is reclassified from AOCI to the statement of operations and recorded in interest and dividend income. During the nine months ended September 30, 2015 and 2014, there were no realized gains or losses recognized in the statement of operations for the sale of investments.

For the three and nine months ended September 30, 2015 and 2014, a summary of AOCI balances and gains (losses) recognized in OCI are as follows (in thousands):

	Accumulated Other Comprehensive Income (Loss)
	Derivative Securities						Available-for-sale securities
	Three months ended September 30,						Three months ended September 30,
	2015			2014			2015			2014
Balance, beginning of period	$	(220	)	$	164		$	(157	)	$	(90	)
Change before reclassification		220			(690	)		55			12
Reclassification into net revenue, non-directly delivered programs		-			5			-			-
Reclassification into interest and dividend income		-			-			-			(14	)
Effect of incomes taxes		-			-			-			-
Other comprehensive income (loss), net of income taxes		220			(685	)		55			(2	)
Balance, end of period	$	-		$	(521	)	$	(102	)	$	(91	)

	Accumulated Other Comprehensive Income (Loss)
	Derivative Securities						Available-for-sale securities
	Nine months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014
Balance, beginning of period	$	(1,142	)	$	(192	)	$	165		$	(357	)
Change before reclassification		1,241			(310	)		(267	)		272
Reclassification into net revenue, non-directly delivered programs		(99	)		(19	)		-			-
Reclassification into interest and dividend income		-			-			-			(6	)
Effect of incomes taxes		-			-			-			-
Other comprehensive income (loss), net of income taxes		1,142			(329	)		(267	)		266
Balance, end of period	$	-		$	(521	)	$	(102	)	$	(91	)