Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table provides the components of other comprehensive income (loss) on a pre-tax and after-tax basis for the periods presented (in thousands):


	Years Ended December 31,
	2020 (1)						2019						2018 (2)
	Pre-tax		Tax		After-tax		Pre-tax		Tax		After-tax		Pre-tax		Tax		After-tax
Net changes related to available-for-sale securities:
Unrealized holding gains (losses) arising during the period	$	33,575	$	7,884	$	25,691	$	38,129	$	9,384	$	28,745	$	(9,111)	$	(2,254)	$	(6,857)
Less: Reclassification adjustments (gains) losses realized in net income	(56,914)		(13,605)		(43,309)		(492)		(121)		(371)		2,803		694		2,109
Other comprehensive income (loss)	(23,339)		(5,721)		(17,618)		37,637		9,263		28,374		(6,308)		(1,560)		(4,748)
Reclassification adjustments to retained earnings	791		194		597		—		—		—		5,830		2,811		3,019
Change in accumulated other comprehensive income (loss)	$	(22,548)	$	(5,527)	$	(17,021)	$	37,637	$	9,263	$	28,374	$	(478)	$	1,251	$	(1,729)

(1)Effective January 1, 2020, the Company adopted ASU 2016-13 and this amount represents reclassifications to retained earnings associated with the allowance for expected credit losses within accumulated other comprehensive income (“AOCI”) relating to available-for-sale debt security investments. See “—Note 2 (Summary of Significant Accounting Policies—Recently Adopted Accounting Pronouncements)” for more information.

(2)Effective January 1, 2018, the Company adopted ASU 2018-02 and ASU 2016-01 and this amount represents reclassifications to retained earnings associated with the disproportional income tax effects of the Tax Act on items within AOCI and unrealized losses in AOCI relating to available-for-sale equity security investments, respectively.

Reclassifications Out of Accumulated Other Comprehensive Income

The following table provides the reclassification adjustments for gains and losses out of AOCI for the periods presented (in thousands):


	Amounts Reclassified from Accumulated Other Comprehensive Income
Details about Accumulated Other	Years Ended December 31,						Affected Line Item in the Statement
Comprehensive Income Components	2020		2019		2018		Where Net Income is Presented
Unrealized gains (losses) on available-for-sale debt securities
	$	56,914	$	492	$	(2,803)	Net realized gains (losses) on investments
	(13,605)		(121)		694		Income taxes, current
Total reclassification for the period	$	43,309	$	371	$	(2,109)	Net of tax