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Changes in Accumulated Other Comprehensive Income by Component
 6 Months Ended
Jun. 30, 2017
Equity [Abstract]  
Changes in Accumulated Other Comprehensive Income by Component
Changes in Accumulated Other Comprehensive Income by Component

Accumulated other comprehensive income consists of unrealized gains and losses from the Company’s available-for-sale marketable securities. The following table provides a summary of the changes in accumulated other comprehensive income for the six months ended June 30, 2017 and 2016:
 
Unrealized Gains and Losses on Available-for-Sale Securities(1)
 
Six Months Ended June 30,
 
2017
 
2016
 
(in thousands)
Accumulated other comprehensive income (loss) — beginning balance
$
(319
)
 
$
543

Other comprehensive income before reclassifications
963

 
1,286

Losses (gains) reclassified from other comprehensive income
118

 
(153
)
Net current period other comprehensive income(2)
1,081

 
1,133

Accumulated other comprehensive income — ending balance
$
762

 
$
1,676


(1) 
All amounts are net of tax.
(2) 
For the six months ended June 30, 2017 and 2016, these changes in other comprehensive income were net of tax effects of $0.6 million.

Amounts reclassified from accumulated other comprehensive income (loss) represent realized gains or losses on the sale of the Company’s available-for-sale securities. Realized gains and losses are recorded pre-tax within “Other income - Investment and interest” in the Consolidated Statements of Comprehensive Income. Refer to Note 5 - Fair Value Measurements for further information. The table below shows the reclassification adjustments out of accumulated other comprehensive income (loss) for the three and six months ended June 30, 2017 and 2016:
 
Amounts Reclassified from Accumulated Other Comprehensive Income
 
2017
 
2016
 
(in thousands)
Three Months Ended March 31,

 

Gains (losses) from the sale of available-for-sale securities
$
(48
)
 
$
62

Tax expense (benefit)
$
15

 
$
(23
)
Net amount reclassified from accumulated other comprehensive income
$
(33
)
 
$
39

Three Months Ended June 30,

 

Gains (losses) from the sale of available-for-sale securities
$
(125
)
 
$
181

Tax expense (benefit)
$
40

 
$
(67
)
Net amount reclassified from accumulated other comprehensive income
$
(85
)
 
$
114

Six Months Ended June 30,

 

Gains (losses) from the sale of available-for-sale securities
$
(173
)
 
$
243

Tax expense (benefit)
55

 
(90
)
Net amount reclassified from accumulated other comprehensive income
$
(118
)
 
$
153