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 nine months ended September 30, 2017 and 2016:



	Unrealized Gains and Losses on Available-for-Sale Securities⁽¹⁾
	Nine Months Ended September 30,
	2017			2016
	(in thousands)
Accumulated other comprehensive income (loss) — beginning balance	$	(319	)	$	543
Other comprehensive income before reclassifications	1,162			909
Losses (gains) reclassified from other comprehensive income	1			(144		)
Net current period other comprehensive income⁽²⁾	1,163			765
Accumulated other comprehensive income — ending balance	$	844		$	1,308


⁽¹⁾	All amounts are net of tax.


⁽²⁾	For the nine months ended September 30, 2017 and 2016, these changes in other comprehensive income were net of tax effects of $0.6 million and $0.4 million respectively.

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 nine months ended September 30, 2017 and 2016:



	Amounts Reclassified from Accumulated Other Comprehensive Income
	2017			2016
	(in thousands)
Three Months Ended September 30,
Gains (losses) from the sale of available-for-sale securities	$	171		$	(17	)
Tax expense (benefit)	$	(54	)	$	8
Net gain (loss) reclassified from accumulated other comprehensive income	$	117		$	(9	)
Nine Months Ended September 30,
Gains (losses) from the sale of available-for-sale securities	$	(2	)	$	226
Tax expense (benefit)	$	1		$	(82	)
Net gain (loss) reclassified from accumulated other comprehensive income	$	(1	)	$	144