Note 5 - Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2016

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

5 . Accumulated Other Comprehensive Income

The following table sets forth our changes in accumulated other comprehensive income (“AOCI”):

	Three Months Ended
	March 31,
	2016		2015
	(Dollars in thousands)
Unrealized gains on available-for-sale marketable securities 1 :
Beginning balance	$	3,657	$	2,775
Other comprehensive income (loss) before reclassifications		524		360
Amounts reclassified from AOCI 2		835		7
Ending balance	$	5,016	$	3,142
Unrealized gains on available-for-sale metropolitan district bond securities 1 :
Beginning balance	$	12,058	$	7,680
Other comprehensive income before reclassifications		589		941
Amounts reclassified from AOCI		-		-
Ending balance	$	12,647	$	8,621
Total ending AOCI	$	17,663	$	11,763

 

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(1) All amounts net-of-tax.

(2) See separate table below for details about these reclassifications

The following table sets forth the activity related to reclassifications out of accumulated other comprehensive income related to available for sale securities:

	Three Months Ended
	March 31,
Affected Line Item in the Statements of Operations	2016			2015
	(Dollars in thousands)
Homebuilding other expense	$	(915	)	$	(12	)
Other-than-temporary impairment of marketable securities		(431	)		-
Financial services interest and other income		-			1
Income before income taxes		(1,346	)		(11	)
Provision for income taxes		511			4
Net income	$	(835	)	$	(7	)