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Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Other Comprehensive Income (Loss)

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,
						2022																		2021																		2020 (1)
						Pre-tax						Tax						After-tax						Pre-tax						Tax						After-tax						Pre-tax						Tax						After-tax
Net changes related to available-for-sale debt securities:
Unrealized holding gains   (losses) arising during    the period						$	(118,832)					$	(29,247)					$	(89,585)					$	(24,477)					$	(5,731)					$	(18,746)					$	33,575					$	7,884					$	25,691
Less: Reclassification   adjustments (gains) losses   realized in net income						1,818						447						1,371						(215)						(50)						(165)						(56,914)						(13,605)						(43,309)
Other comprehensive income   (loss)						(117,014)						(28,800)						(88,214)						(24,692)						(5,781)						(18,911)						(23,339)						(5,721)						(17,618)
Reclassification adjustments   to retained earnings						—						—						—						—						—						—						791						194						597
Change in accumulated other   comprehensive income (loss)						$	(117,014)					$	(28,800)					$	(88,214)					$	(24,692)					$	(5,781)					$	(18,911)					$	(22,548)					$	(5,527)					$	(17,021)

(1)Effective January 1, 2020, the Company adopted Accounting Standard Update 2016-13. 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.

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						2022						2021						2020						Where Net Income is Presented
Unrealized gains (losses) on    available-for-sale debt securities
						$	(1,818)					$	215					$	56,914					Net realized gains (losses) on investments
						447						(50)						(13,605)						Income taxes, current
Total reclassification for the period						$	(1,371)					$	165					$	43,309					Net of tax

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- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-URI https://asc.fasb.org/topic&trid=2134417

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

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X

- References

No definition available.

+ Details

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