Changes in Accumulated Other Comprehensive Income by Component

3 Months Ended

Mar. 31, 2020

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 three months ended March 31, 2020 and 2019:


	Unrealized Gains and Losses on Available-for-Sale Securities¹
	Three Months Ended March 31,
	2020		2019
	(in thousands)
Accumulated other comprehensive income — beginning balance	$	2,919	$	158
Other comprehensive (loss) income before reclassifications	(542)		1,419
Losses (Gains) reclassified from other comprehensive income²	9		(3)
Net current period other comprehensive (loss) income³	(533)		1,416
Accumulated other comprehensive income — ending balance	$	2,386	$	1,574

1.All amounts are net of tax

2.Realized gains and losses were recorded pre-tax under “Investment and other income” in the Consolidated Statements of Comprehensive Income. For the three months ended March 31, 2020, the Company recorded less than $0.1 million of realized losses from the sale of available-for-sale securities. For the three months ended March 31, 2019, the Company recorded less than $0.1 million of realized gains from the sale of available-for-sale securities. Refer to Note 9—Fair Value Measurements herein for further information.

3.For the three months ended March 31, 2020, the changes in other comprehensive income were net of a tax benefit of $0.1 million. For the three months ended March 31, 2019, the changes in other comprehensive income were net of a tax expense of $0.4 million.


	Amounts Reclassified from Accumulated Other Comprehensive Income
	2020		2019
	(in thousands)
Three Months Ended March 31,
(Losses) gains from the sale of available-for-sale securities	$	(11)	$	4
Tax benefit (expense)	2		(1)
Net (loss) gain reclassified from accumulated other comprehensive income	$	(9)	$	3