14. Other Comprehensive Income The following table shows our total other comprehensive income as of the periods indicated: Radian Group Inc. Notes to Consolidated Financial Statements - (Continued) Year Ended December 31, 2012 (In thousands) Before Tax Tax Effect Net of Tax Other comprehensive income: Foreign currency translation adjustments: Unrealized foreign currency translation adjustment . . . . . . . . . $ (11) $ (4) $ (7) Less: Reclassification adjustment for liquidation of foreign subsidiary and other adjustments included in net (loss) income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — — Net foreign currency translation adjustments . . . . . . . . . . . . . . (11) (4) (7) Unrealized gains (losses) on investments: Unrealized holding gains arising during the period . . . . . . . . . 21,743 7,611 14,132 Less: Reclassification adjustment for net gains (losses) included in net (loss) income . . . . . . . . . . . . . . . . . . . . . . . . . . 8,624 (648) 9,272 Net unrealized gains on investments . . . . . . . . . . . . . . . . . . . . 13,119 8,259 4,860 Other comprehensive income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 13,108 $ 8,255 $ 4,853 Year Ended December 31, 2011 (In thousands) Before Tax Tax Effect Net of Tax Other comprehensive income: Foreign currency translation adjustments: Unrealized foreign currency translation adjustment . . . . . . . . . $ 6,265 $ — $ 6,265 Less: Reclassification adjustment for liquidation of foreign  subsidiary and other adjustments included in net (loss)  income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38,672 11,367 27,305 Net foreign currency translation adjustments . . . . . . . . . . . . . . (32,407) (11,367) (21,040) Unrealized gains (losses) on investments: Unrealized holding gains arising during the period . . . . . . . . . 7,400 — 7,400 Less: Reclassification adjustment for net losses included in  net (loss) income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (47,448) (15,520) (31,928) Net unrealized gains on investments . . . . . . . . . . . . . . . . . . . . 54,848 15,520 39,328 Other comprehensive income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 22,441 $ 4,153 $ 18,288 240