Note 15 - Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2021

Accumulated Other Comprehensive Income (Loss)

The following table shows the rollforward of accumulated other comprehensive income (loss) as of the periods indicated.


	Three Months Ended March 31, 2021
(In thousands)	Before Tax		Tax Effect		Net of Tax
Balance at beginning of period	$	333,829	$	70,104	$	263,725
Other comprehensive income (loss):

Unrealized holding gains (losses) on investments arising during the period for which an allowance for expected credit losses has not been recognized	(186,543)		(39,174)		(147,369)
Less: Reclassification adjustment for net gains (losses) on investments included in net income (loss): (1)
Net realized gains (losses) on disposals and non-credit related impairment losses	(790)		(166)		(624)
Net decrease (increase) in expected credit losses	310		65		245


Other comprehensive income (loss)	(186,063)		(39,073)		(146,990)
Balance at end of period	$	147,766	$	31,031	$	116,735

	Three Months Ended March 31, 2020
(In thousands)	Before Tax		Tax Effect		Net of Tax
Balance at beginning of period	$	139,858	$	29,370	$	110,488
Other comprehensive income (loss):

Unrealized holding gains (losses) on investments arising during the period for which an allowance for expected credit losses has not been recognized	(91,511)		(19,218)		(72,293)
Less: Reclassification adjustment for net gains (losses) on investments included in net income (loss): (1)
Net realized gains (losses) on disposals and non-credit related impairment losses	10,625		2,231		8,394



Other comprehensive income (loss)	(102,136)		(21,449)		(80,687)
Balance at end of period	$	37,722	$	7,921	$	29,801

(1)Included in net gains (losses) on investments and other financial instruments on our condensed consolidated statements of operations.