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 during the nine months ended June 30, 2018 and 2017.

Components of accumulated other comprehensive income were as follows:


	June 30,		September 30,
	2018		2017
	(in thousands)
Pre-tax amounts:
Unrealized appreciation on securities	$	39,327	$	31,700
Unrealized actuarial loss		(27,491)		(28,873)
	$	11,836	$	2,827
After-tax amounts:
Unrealized appreciation on securities	$	25,727	$	20,070
Unrealized actuarial loss		(16,785)		(17,770)
	$	8,942	$	2,300

The following is a summary of the changes in accumulated other comprehensive income (loss), net of tax, by component for the three and nine months ended June 30, 2018:


	Three Months Ended June 30, 2018
	Unrealized
	Appreciation
	(Depreciation) on		Defined
	Available-for-sale		Benefit
	Securities		Pension Plan		Total
	(in thousands)
Balance at April 1, 2018	$	11,901	$	(17,122)	$	(5,221)
Other comprehensive income before reclassifications		13,826		—		13,826
Amounts reclassified from accumulated other comprehensive income		—		337		337
Net current-period other comprehensive income		13,826		337		14,163
Balance at June 30, 2018	$	25,727	$	(16,785)	$	8,942


	Nine Months Ended June 30, 2018
	Unrealized
	Appreciation
	(Depreciation) on		Defined
	Available-for-sale		Benefit
	Securities		Pension Plan		Total
	(in thousands)
Balance at October 1, 2017	$	20,070	$	(17,770)	$	2,300
Other comprehensive income before reclassifications		5,657		—		5,657
Amounts reclassified from accumulated other comprehensive income		—		985		985
Net current-period other comprehensive income		5,657		985		6,642
Balance at June 30, 2018	$	25,727	$	(16,785)	$	8,942

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


	Reclassified from				Reclassified from
	Accumulated Other				Accumulated Other
	Comprehensive				Comprehensive
	Income (Loss)				Income (Loss)
	Three Months Ended				Nine Months Ended
Details About Accumulated Other	June 30,				June 30,				Affected Line Item in the Condensed
Comprehensive Income (Loss) Components	2018		2017		2018		2017		Consolidated Statements of Operations
		(in thousands)				(in thousands)
Amortization of net actuarial loss on defined benefit pension plan	$	(461)	$	(574)	$	(1,382)	$	(1,724)	General and administrative
		124		209		397		627	Income tax provision
Total reclassifications for the period	$	(337)	$	(365)	$	(985)	$	(1,097)	Net of tax