The following tables present the change in accumulated other comprehensive income (loss) (“AOCI”) by component:

(dollars in thousands)	Unrealized gains (losses) on available-for-sale investments ¹			Foreign currency adjustment			Total
Six Months Ended December 31, 2018
Balance at June 30, 2018	$	2,089		$	(231	)	$	1,858
Reclassification pursuant to adoption of ASU 2016-01, net of tax of $1,049		(2,089	)		-			(2,089	)
Balance at July 1, 2018		-			(231	)		(231	)
Other comprehensive loss before reclassifications		-			(27	)		(27	)
Tax effect		-			-			-
Amount reclassified from AOCI		-			-			-
Tax effect		-			-			-
Net other comprehensive loss for six months ended December 31, 2018		-			(27	)		(27	)
Balance at December 31, 2018	$	-		$	(258	)	$	(258	)

Three Months Ended December 31, 2018
Balance at September 30, 2018	$	-		$	(212	)	$	(212	)
Other comprehensive loss before reclassifications		-			(46	)		(46	)
Tax effect		-			-			-
Amount reclassified from AOCI		-			-			-
Tax effect		-			-			-
Net other comprehensive loss for quarter		-			(46	)		(46	)
Balance at December 31, 2018	$	-		$	(258	)	$	(258	)

(dollars in thousands)	Unrealized gains (losses) on available-for-sale investments ²			Foreign currency adjustment			Total
Six Months Ended December 31, 2017
Balance at June 30, 2017	$	461		$	(197	)	$	264
Other comprehensive income before reclassifications		16,923			53			16,976
Tax effect		(3,506	)		-			(3,506	)
Amount reclassified from AOCI		(31	)		-			(31	)
Tax effect		-			-			-
Net other comprehensive income for six months ended December 31, 2017		13,386			53			13,439
Balance at December 31, 2017	$	13,847		$	(144	)	$	13,703

Three Months Ended December 31, 2017
Balance at September 30, 2017	$	9,594		$	(161	)	$	9,433
Other comprehensive income before reclassifications		7,783			17			7,800
Tax effect		(3,506	)		-			(3,506	)
Amount reclassified from AOCI		(24	)		-			(24	)
Tax effect		-			-			-
Net other comprehensive income for quarter		4,253			17			4,270
Balance at December 31, 2017	$	13,847		$	(144	)	$	13,703

1.	Effective July 1, 2018, upon the adoption of ASU 2016-01, the Company no longer has an available-for-sale category for equity securities for which changes in fair value are recognized in other comprehensive income (loss). See Note 1.

2.	Prior to the adoption of ASU 2016-01, amounts reclassified from unrealized gains (losses) on available-for-sale investments, net of tax, were recorded in investment income (loss) on the Consolidated Statements of Operations.