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
Nine Months Ended March 31, 2019
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 income before reclassifications		-			1			1
Tax effect		-			-			-
Amount reclassified from AOCI		-			-			-
Tax effect		-			-			-
Net other comprehensive income for nine months ended March 31, 2019		-			1			1
Balance at March 31, 2019	$	-		$	(230	)	$	(230	)

Three Months Ended March 31, 2019
Balance at December 31, 2018	$	-		$	(258	)	$	(258	)
Other comprehensive income before reclassifications		-			28			28
Tax effect		-			-			-
Amount reclassified from AOCI		-			-			-
Tax effect		-			-			-
Net other comprehensive income for quarter		-			28			28
Balance at March 31, 2019	$	-		$	(230	)	$	(230	)

(dollars in thousands)	Unrealized gains (losses) on available-for-sale investments ²			Foreign currency adjustment			Total
Nine Months Ended March 31, 2018
Balance at June 30, 2017	$	461		$	(197	)	$	264
Other comprehensive income (loss) before reclassifications		7,487			(44	)		7,443
Tax effect		(1,487	)		-			(1,487	)
Amount reclassified from AOCI		(31	)		-			(31	)
Tax effect		-			-			-
Net other comprehensive income (loss) for nine months ended March 31, 2018		5,969			(44	)		5,925
Balance at March 31, 2018	$	6,430		$	(241	)	$	6,189

Three Months Ended March 31, 2018
Balance at December 31, 2017	$	13,847		$	(144	)	$	13,703
Other comprehensive loss before reclassifications		(9,436	)		(97	)		(9,533	)
Tax effect		2,019			-			2,019
Amount reclassified from AOCI		-			-			-
Tax effect		-			-			-
Net other comprehensive loss for quarter		(7,417	)		(97	)		(7,514	)
Balance at March 31, 2018	$	6,430		$	(241	)	$	6,189

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.