| Comprehensive Income |
Note 11. Comprehensive Income
The following is a summary of the accumulated other comprehensive income (loss) balances, net of tax (in thousands):
|
|
|
Net unrealized
gain (loss) on
available for sale securities |
|
|
Unrealized loss
on pension
benefits |
|
|
Unrealized loss
on SERP
benefits |
|
|
Total |
|
|
Balance at July 1, 2017 |
|
$ |
37 |
|
|
$ |
(5,002 |
) |
|
$ |
(250 |
) |
|
$ |
(5,215 |
) |
|
Other comprehensive income before reclassifications |
|
|
(1,835 |
) |
|
|
335 |
|
|
|
10 |
|
|
|
(1,490 |
) |
|
Amounts reclassified from accumulated other comprehensive income |
|
|
(164 |
) |
|
|
725 |
|
|
|
34 |
|
|
|
595 |
|
|
Tax effect |
|
|
558 |
|
|
|
(270 |
) |
|
|
(11 |
) |
|
|
277 |
|
|
Net other comprehensive income |
|
|
(1,441 |
) |
|
|
790 |
|
|
|
33 |
|
|
|
(618 |
) |
|
Reclassification of certain tax effects on other comprehensive income(1) |
|
|
(132 |
) |
|
|
(938 |
) |
|
|
(47 |
) |
|
|
(1,117 |
) |
|
Balance at June 30, 2018 |
|
$ |
(1,536 |
) |
|
$ |
(5,150 |
) |
|
$ |
(264 |
) |
|
$ |
(6,950 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net unrealized
gain (loss) on
available for sale
securities |
|
|
Unrealized loss
on pension
benefits |
|
|
Unrealized loss
on SERP
benefits |
|
|
Total |
|
|
Balance at July 1, 2016 |
|
$ |
523 |
|
|
$ |
(7,683 |
) |
|
$ |
(810 |
) |
|
$ |
(7,970 |
) |
|
Other comprehensive income before reclassifications |
|
|
(735 |
) |
|
|
3,973 |
|
|
|
(755 |
) |
|
|
2,483 |
|
|
Amounts reclassified from accumulated other comprehensive income |
|
|
— |
|
|
|
89 |
|
|
|
93 |
|
|
|
182 |
|
|
Tax effect |
|
|
249 |
|
|
|
(1,381 |
) |
|
|
1,222 |
|
|
|
90 |
|
|
Net other comprehensive income |
|
|
(486 |
) |
|
|
2,681 |
|
|
|
560 |
|
|
|
2,755 |
|
|
Balance at June 30, 2017 |
|
$ |
37 |
|
|
$ |
(5,002 |
) |
|
$ |
(250 |
) |
|
$ |
(5,215 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net unrealized
gain (loss) on
available for sale
securities |
|
|
Unrealized loss
on pension
benefits |
|
|
Unrealized loss
on SERP
benefits |
|
|
Total |
|
|
Balance at July 1, 2015 |
|
$ |
323 |
|
|
$ |
(4,311 |
) |
|
$ |
(734 |
) |
|
$ |
(4,722 |
) |
|
Other comprehensive income before reclassifications |
|
|
255 |
|
|
|
(5,022 |
) |
|
|
89 |
|
|
|
(4,678 |
) |
|
Amounts reclassified from accumulated other comprehensive income |
|
|
— |
|
|
|
398 |
|
|
|
84 |
|
|
|
482 |
|
|
Tax effect |
|
|
(55 |
) |
|
|
1,252 |
|
|
|
(249 |
) |
|
|
948 |
|
|
Net other comprehensive income |
|
|
200 |
|
|
|
(3,372 |
) |
|
|
(76 |
) |
|
|
(3,248 |
) |
|
Balance at June 30, 2016 |
|
$ |
523 |
|
|
$ |
(7,683 |
) |
|
$ |
(810 |
) |
|
$ |
(7,970 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Represents the impact of adopting ASU 2018-02 requiring the reclassification of certain stranded income tax effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act of 2017 from accumulated other comprehensive income to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act of 2017 (or portion thereof) is recorded. The amount of the reclassification is the difference between the historical corporate income tax rate (34 percent) and the newly enacted 21 percent corporate income tax rate. The reclassification is as of March 31, 2018; no prior period information has been retroactively adjusted as a result of implementing the ASU.
|