Changes in Accumulated Other Comprehensive Income by Component

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Changes in Accumulated Other Comprehensive Income by Component

Note 3 — Changes in Accumulated Other Comprehensive Income by Component

For the years ended December 31, 2021, 2020 and 2019, the Company’s accumulated other comprehensive income consisted of unrealized gains and losses from the Company’s available-for-sale marketable securities. The following tables provide a summary of the changes in accumulated other comprehensive income, net of taxes:

	Unrealized Gains and (Losses) on Available-for-Sale Securities1
	Year Ended December 31,
	2021		2020		2019
	(in thousands)
Accumulated other comprehensive income — beginning balance	$	5,563	$	2,919	$	158
Other comprehensive (loss) income before reclassifications	(1,522)		2,557		2,848
(Gains) losses reclassified from other comprehensive income2	(41)		87		(87)
Net current period other comprehensive (loss) income3	(1,563)		2,644		2,761
Accumulated other comprehensive income — ending balance	$	4,000	$	5,563	$	2,919

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 both years ended December 31, 2021 and 2019, the Company recorded $0.1 million of realized gains from the sale of available-for-sale securities. For the year ended December 31, 2020, the Company recorded $0.1 million of realized losses from the sale of available-for-sale securities. Refer to Note 6 — Fair Value Measurements herein for further information.

3.For the year ended December 31, 2021, the changes in other comprehensive income were net of a tax benefit of $0.4 million. For the years ended December 31, 2020 and 2019, the changes in other comprehensive income were both net of a tax expense of $0.7 million.

	Amounts Reclassified from Accumulated Other Comprehensive Income
	2021		2020		2019
	(in thousands)
Year Ended December 31,
Gains (losses) from the sale of available-for-sale securities	$	55	$	(114)	$	111
Tax (expense) benefit	(14)		27		(24)
Net gain (loss) reclassified from accumulated other comprehensive income	$	41	$	(87)	$	87