Changes in Accumulated Other Comprehensive Income by Component

9 Months Ended

Sep. 30, 2021

Changes in Accumulated Other Comprehensive Income by Component

Note 5—Changes in Accumulated Other Comprehensive Income by Component

The Company's 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, 2021 and 2020:


	Unrealized Gains and Losses on Available-for-Sale Securities1
	Nine Months Ended September 30,
	2021		2020
	(in thousands)
Accumulated other comprehensive income — beginning balance	$	5,563	$	2,919
Other comprehensive (loss) income before reclassifications	(1,421)		1,925
(Gains) losses reclassified from other comprehensive income2	(161)		71
Net current period other comprehensive (loss) income3	(1,582)		1,996
Accumulated other comprehensive income — ending balance	$	3,981	$	4,915

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 nine months ended September 30, 2021, the Company recorded $0.2 million of realized gains from the sale of available-for-sale securities. For the nine months ended September 30, 2020, the Company recorded $0.1 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 nine months ended September 30, 2021, the changes in other comprehensive income were net of a tax benefit of $0.4 million. For the nine months ended September 30, 2020, the changes in other comprehensive income were net of a tax expense of $0.5 million.


	Amounts Reclassified from Accumulated Other Comprehensive Income
	2021		2020
	(in thousands)
Three Months Ended September 30,
Losses from the sale of available-for-sale securities	$	(7)	$	(7)
Tax benefit	5		2
Net loss reclassified from accumulated other comprehensive income	$	(2)	$	(5)
Nine Months Ended September 30,
Gains (losses) from the sale of available-for-sale securities	$	221	$	(94)
Tax (expense) benefit	(60)		23
Net gain (loss) reclassified from accumulated other comprehensive income	$	161	$	(71)