Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2016

Equity [Abstract]

Other Comprehensive Income (Loss)

Note 6 - Other Comprehensive Income (Loss)

The following tables illustrate activity within the balances in accumulated other comprehensive income (loss) by component for the three months ended March 31, 2016 and 2015.

Changes in Accumulated Other Comprehensive Income (Loss) by Component (Net of Income Taxes)
(in thousands)	Net unrealized gains (losses) on cash flow hedges			Net unrealized gains (losses) on investment securities available for sale		Post-retirement unfunded health benefit		Total
Balance at December 31, 2015	$	(12,504	)	(18,222	)	907		(29,819	)
Other comprehensive income before reclassifications	—			29,010		—		29,010
Amounts reclassified from accumulated other comprehensive income (loss)	168			(41	)	(58	)	69
Net current period other comprehensive income	168			28,969		(58	)	29,079
Balance as of March 31, 2016	$	(12,336	)	10,747		849		(740	)

Changes in Accumulated Other Comprehensive Income (Loss) by Component (Net of Income Taxes)
(in thousands)	Net unrealized gains (losses) on cash flow hedges			Net unrealized gains (losses) on investment securities available for sale			Post-retirement unfunded health benefit			Total
Balance at December 31, 2014	$	(12,824	)	(713		)	932			(12,605		)
Other comprehensive income before reclassifications	—			9,355			—			9,355
Amounts reclassified from accumulated other comprehensive income (loss)	69			(444		)	(26		)	(401		)
Net current period other comprehensive income	69			8,911			(26		)	8,954
Balance as of March 31, 2015	$	(12,755	)	$	8,198		$	906		$	(3,651	)

In accordance with ASC 740-20-45-11(b), a deferred tax asset valuation allowance associated with unrealized gains and losses not recognized in income is charged directly to other comprehensive income (loss). During the years 2010 and 2011, Synovus recorded a deferred tax asset valuation allowance associated with unrealized gains and losses not recognized in income directly to other comprehensive income (loss) by applying the portfolio approach for allocation of the valuation allowance. Synovus has consistently applied the portfolio approach which treats derivative financial instruments, equity securities, and debt securities as a single portfolio. As of March 31, 2016, the balance in net unrealized gains (losses) on cash flow hedges and net unrealized gains (losses) on investment securities available for sale includes unrealized losses of $12.1 million and $13.3 million, respectively, related to the residual tax effects remaining in OCI due to a previously established deferred tax asset valuation allowance. Under the portfolio approach, these unrealized losses are realized at the time the entire portfolio is sold or disposed.

Reclassifications out of Accumulated Other Comprehensive Income (Loss)
Details About Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)					Affected Line Item in the Statement Where Net Income is Presented
	For the Three Months Ended March 31,
	2016			2015
Net unrealized gains (losses) on cash flow hedges:
Amortization of deferred losses	$	(76	)	(112	)	Interest expense
Amortization of deferred losses	(197		)	—		Loss on early extinguishment of debt
	105			43		Income tax (expense) benefit
	$	(168	)	(69	)	Reclassifications, net of income taxes
Net unrealized gains on investment securities available for sale:
Realized gain on sale of securities	$	67		725		Investment securities gains, net
	(26		)	(281	)	Income tax (expense) benefit
	$	41		444		Reclassifications, net of income taxes
Post-retirement unfunded health benefit:
Amortization of actuarial gains	$	94		42		Salaries and other personnel expense
	(36		)	(16	)	Income tax (expense) benefit
	$	58		26		Reclassifications, net of income taxes