Changes in Accumulated Other Comprehensive Loss by Component (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

The following table provides a summary of the changes in accumulated other comprehensive loss for the six months ended June 30, 2024 and 2023:

	Unrealized Gains and Losses on Available-for-Sale Securities¹
	Six Months Ended June 30,
	2024		2023
	(in thousands)
Accumulated other comprehensive loss — beginning balance	$	(1,844)	$	(3,477)
Other comprehensive (loss) income before reclassifications	(1,040)		344
Income reclassified from other comprehensive loss²	267		3
Net current period other comprehensive (loss) income³	(773)		347
Accumulated other comprehensive loss — ending balance	$	(2,617)	$	(3,130)

1.All amounts are net of tax.

2.Realized gains and losses were recorded pre-tax within “Investment and other income, net” in the Consolidated Statements of Comprehensive (Loss) Income. For the six months ended June 30, 2024 and 2023, the Company recorded realized losses of $0.3 million and less than $0.1 million, respectively from the sale of available-for-sale securities. Refer to Note 10—Fair Value Measurements herein for further information.

3.For the six months ended June 30, 2024 and 2023, the changes in other comprehensive loss were net of a tax benefit of $0.1 million and an expense of $0.1 million, respectively.

Schedule of Reclassification out of Accumulated Other Comprehensive Loss

The following table provides a rollforward of amounts reclassified from accumulated other comprehensive loss to realized losses for the three and six months ended June 30, 2024 and 2023:

	Amounts Reclassified from Accumulated Other Comprehensive Loss
	2024		2023
	(in thousands)
Three Months Ended June 30,
Losses from the sale of available-for-sale securities	$	(126)	$	(2)
Tax benefit	26		1
Net loss reclassified from accumulated other comprehensive loss	$	(100)	$	(1)
Six Months Ended June 30,
Losses from the sale of available-for-sale securities	$	(337)	$	(4)
Tax benefit	70		1
Net losses reclassified from accumulated other comprehensive loss	$	(267)	$	(3)