Changes in Accumulated Other Comprehensive Income by Component (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Accumulated Other Comprehensive Income

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.

Reclassification out of Accumulated Other Comprehensive Income


	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