Note 8. Accumulated Other Comprehensive Income (loss)

3 Months Ended

Mar. 31, 2014

Notes

Note 8. Accumulated Other Comprehensive Income (loss)

Note 8.                        Accumulated Other Comprehensive Income (Loss)

The components of other comprehensive income (loss) include (i) the after-tax net unrealized gains and losses on investment securities available-for-sale, including the subsequent increases and decreases in fair value of available-for-sale securities previously impaired and the non-credit related component of other-than-temporary impairments of fixed maturities and (ii) the after-tax unrealized gains and losses on a cash flow hedge.

Changes in the balances for each component of accumulated other comprehensive income (loss), shown net of taxes, for the periods indicated were as follows (in thousands):

		Three Months Ended March 31, 2014
		Unrealized
		Gains (Losses) on
		Available-for Sale		Cash Flow
		Securities		Hedge		Total
Beginning balance	$	(10,350)	$	(122)	$	(10,472)
Other comprehensive income (loss) before reclassifications		6,618		10		6,628
Amounts reclassified from accumulated OCI		(979)		-		(979)
Net other comprehensive income (loss)		5,639		10		5,649
Less: Other comprehensive income attributable
to noncontrolling interests		(131)		-		(131)
Ending balance	$	(4,842)	$	(112)	$	(4,954)

		Three Months Ended March 31, 2013
		Unrealized
		Gains (Losses) on
		Available-for Sale		Cash Flow
		Securities		Hedge		Total
Beginning balance	$	15,231	$	(218)	$	15,013
Other comprehensive income (loss) before reclassifications		1,448		14		1,462
Amounts reclassified from accumulated OCI		(2,975)		-		(2,975)
Net other comprehensive income (loss)		(1,527)		14		(1,513)
Less: Other comprehensive loss attributable
to noncontrolling interests		91		-		91
Acquired from noncontrolling interests		36		-		36
Ending balance	$	13,831	$	(204)	$	13,627

Presented below are the amounts reclassified out of accumulated other comprehensive income (loss) and recognized in earnings for each of the periods indicated (in thousands):

		Three Months Ended
		March 31,
		2014		2013
Unrealized gains (losses) on available-for-sale securities
reclassified during the period to the following income
statement line items:
Net realized investment gains	$	1,477	$	4,326
Income before income tax		1,477		4,326
Tax effect		498		1,351
Net income	$	979	$	2,975