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Note 18 - Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

NOTE 18 ACCUMULATED OTHER COMPREHENSIVE LOSS

The tables below detail the change in the balance of each component of accumulated other comprehensive loss, net of tax, for the three months ended March 31, 2024 and March 31, 2023 as relates to shareholders' equity attributable to common shareholders on the consolidated balance sheets.

(in thousands)		Three months ended March 31, 2024
		Unrealized				Foreign				Change in Fair Value				Total
		Losses on				Currency				of Debt Attributable				Accumulated Other
		Available-for-Sale				Translation				to Instrument-Specific				Comprehensive
		Investments				Adjustments				Credit Risk				Loss

Balance at December 31, 2023		$	(1,596	)		$	(3,286	)		$	3,342			$	(1,540	)

Other comprehensive (loss) income arising during the period			(58	)			—				23				(35	)
Amounts reclassified from accumulated other comprehensive loss			(13	)			—				—				(13	)
Net current-period other comprehensive (loss) income			(71	)			—				23				(48	)

Balance at March 31, 2024		$	(1,667	)		$	(3,286	)		$	3,365			$	(1,588	)

(in thousands)		Three months ended March 31, 2023
		Unrealized Gains				Foreign				Change in Fair Value				Total
		(Losses) on				Currency				of Debt Attributable				Accumulated Other
		Available-for-Sale				Translation				to Instrument-Specific				Comprehensive
		Investments				Adjustments				Credit Risk				Income (Loss)

Balance at December 31, 2022		$	(2,464	)		$	(3,286	)		$	32,355			$	26,605

Other comprehensive income (loss) arising during the period			427				—				(427	)			—
Amounts reclassified from accumulated other comprehensive income (loss)			(22	)			—				(27,177	)			(27,199	)
Net current-period other comprehensive income (loss)			405				—				(27,604	)			(27,199	)

Balance at March 31, 2023		$	(2,059	)		$	(3,286	)		$	4,751			$	(594	)

It should be noted that the unaudited consolidated statements of comprehensive (loss) income present the components of other comprehensive loss, net of tax, only for the three months ended March 31, 2024 and March 31, 2023 and inclusive of the components attributable to noncontrolling interests in consolidated subsidiaries.

Components of accumulated other comprehensive loss were reclassified to the following lines of the unaudited consolidated statements of operations for the three months ended March 31, 2024 and March 31, 2023:

(in thousands)		Three months ended March 31,
		2024				2023
Reclassification of accumulated other comprehensive income from unrealized gains (losses) on available-for-sale investments to:
Net realized gains		$	13			$	22
Reclassification of accumulated other comprehensive income from change in fair value of debt attributable to instrument-specific credit risk to:
Gain on extinguishment of debt			—				27,177
(Loss) income from continuing operations before income tax expense			13				27,199
Income tax expense			—				—
(Loss) income from continuing operations, net of taxes			13				27,199
Income from discontinued operations, net of taxes			—				—
Net (loss) income		$	13			$	27,199

As further discussed in Note 11, "Debt," during the first quarter of 2023, the Company completed the repurchases of five TruPs. The unaudited consolidated statements of comprehensive (loss) income for the three months ended March 31, 2023 includes a reclassification adjustment of $27.2 million from accumulated other comprehensive income to gain on extinguishment of debt related to the instrument-specific credit risk portion of the repurchased TruPs.