6.Shareholders’ Equity

The Company has authorization from the Board of Directors for the repurchase of up to four million shares per calendar year. The repurchases may be made using our cash and cash equivalents or other available sources. We had no purchases of common shares in either the first quarter of fiscal 2018 or fiscal 2017.

Components of accumulated other comprehensive income (loss) were as follows:


	December 31,		September 30,
	2017		2017
	(in thousands)
Pre-tax amounts:
Unrealized appreciation on securities	$	30,856	$	31,700
Unrealized actuarial loss		(28,412)		(28,873)
	$	2,444	$	2,827
After-tax amounts:
Unrealized appreciation on securities	$	19,469	$	20,070
Unrealized actuarial loss		(17,430)		(17,770)
	$	2,039	$	2,300

The following is a summary of the changes in accumulated other comprehensive income (loss), net of tax, by component for the three months ended December 31, 2017:


	Three Months Ended December 31, 2017
	Unrealized
	Appreciation
	(Depreciation) on		Defined
	Available-for-sale		Benefit
	Securities		Pension Plan		Total
	(in thousands)
Balance at September 30, 2017	$	20,070	$	(17,770)	$	2,300
Other comprehensive loss before reclassifications		(601)		—		(601)
Amounts reclassified from accumulated other comprehensive income		—		340		340
Net current-period other comprehensive income (loss)		(601)		340		(261)
Balance at December 31, 2017	$	19,469	$	(17,430)	$	2,039

The following provides detail about accumulated other comprehensive income (loss) components which were reclassified to the Condensed Consolidated Statements of Operations:


	Reclassified from
	Accumulated Other
	Comprehensive
	Income (Loss)
	Three Months Ended
Details About Accumulated Other	December 31,				Affected Line Item in the
Comprehensive Income (Loss) Components	2017		2016		Consolidated Statements of Operations
		(in thousands)
Amortization of net actuarial loss on defined benefit pension plan	$	461	$	575	General and administrative
		(121)		(209)	Income tax provision
Total reclassifications for the period	$	340	$	366	Net of tax