Changes in Accumulated Other Comprehensive Income by Component

6 Months Ended

Jun. 30, 2019

Changes in Accumulated Other Comprehensive Income by Component

Note 5—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, 2019 and 2018:


	Unrealized Gains and Losses on Available-for-Sale Securities¹
	Six Months Ended June 30,
	2019		2018
	(in thousands)
Accumulated other comprehensive income — beginning balance	$	158	$	837
Other comprehensive income (loss) before reclassifications	2,286		(1,167)
(Gains) losses reclassified from other comprehensive income²	(79)		126
Net current period other comprehensive income (loss)³	2,207		(1,041)
Accumulated other comprehensive income (loss) — ending balance	$	2,365	$	(204)

1.All amounts are net of tax

2.Realized gains and losses were recorded pre-tax under “Investment and other income” in our Consolidated Statements of Comprehensive Income. For the six months ended June 30, 2019, the Company recorded $0.1 million of realized gains from the sale of available-for-sale securities. For the six months ended June 30, 2018, the Company recorded $0.2 million of realized losses from the sale of available-for-sale securities. Refer to Note 9—Fair Value Measurements herein for further information.

3.For the six months ended June 30, 2019 and 2018, the changes in other comprehensive income (loss) were net of a tax expense of $0.6 million and a benefit of $0.3 million, respectively.


	Amounts Reclassified from Accumulated Other Comprehensive Income
	2019		2018
	(in thousands)
Three Months Ended June 30,
Gains (losses) from the sale of available-for-sale securities	$	99	$	(67)
Tax (expense) benefit	(23)		11
Net gain (loss) reclassified from accumulated other comprehensive income	$	76	$	(56)
Six Months Ended June 30,
Gains (losses) from the sale of available-for-sale securities	$	103	$	(156)
Tax (expense) benefit	(24)		30
Net gain (loss) reclassified from accumulated other comprehensive income	$	79	$	(126)