The components of other comprehensive income (loss) include (i) net income or loss reported in the Condensed Consolidated Statements of Operations, (ii) certain amounts reported directly in stockholders’ equity, principally the after-tax net unrealized gains and losses on investment securities available for sale including the subsequent increases and decreases in fair value of available-for-sale securities previously impaired, and (iii) effective April 1, 2009, the non-credit related component of other-than-temporary impairments of fixed maturities.

The comprehensive income for the three months and nine months ended September 30, 2011 and 2010 is summarized as follows (in thousands):

				Three Months Ended				Nine Months Ended
				September 30,				September 30,
				2011		2010		2011		2010

Net income			$	1,063	$	868	$	2,544	$	2,656
	Unrealized holdings gains arising
		during the period		796		1,507		1,572		3,048
	Reclassification adjustment for gains
		included in earnings		(238)		(136)		(323)		(445)
	Net unrealized gains on certain available-for-
		sale securities arising during the period		558		1,371		1,249		2,603
Comprehensive income				1,621		2,239		3,793		5,259
Comprehensive income attributable to
	non-controlling interests			(150)		(245)		(557)		(717)
Comprehensive income attributable to
	American Independence Corp.		$	1,471	$	1,994	$	3,236	$	4,542

Accumulated other comprehensive income at September 30, 2011 and December 31, 2010 includes an adjustment of $99,000 related to the non-credit related component of other-than-temporary impairment losses recorded in connection with new accounting standards adopted on April 1, 2009. No losses for other-than-temporary impairments were recognized in other comprehensive income since the adoption, in the second quarter of 2009, of the new accounting standards related to other-than-temporary impairments.