Comprehensive Income

9 Months Ended

Sep. 30, 2014

Comprehensive Income [Abstract]

Comprehensive Income

(14)  Comprehensive Income:

Comprehensive income consists of net income and other gains and losses affecting shareholders’ investment and pension/postretirement benefit (OPEB) liabilities that, under U.S. GAAP, are excluded from net income.

The components of accumulated other comprehensive loss, net of tax at September 30, 2014 and 2013, and changes for the nine months then ended, are as follows:

($ in thousands)	Pension Costs		OPEB Costs		Deferred taxes on pension and OPEB costs		All other		Total
Balance at January 1, 2014	$	(411,432)	$	(5,230)	$	156,280	$	(148)	$	(260,530)
Other comprehensive income before reclassifications		-		-		-		148		148
Amounts reclassified from accumulated other comprehensive loss		14,069		(777)		(5,051)		-		8,241
Net current-period other comprehensive income (loss)		14,069		(777)		(5,051)		148		8,389
Balance at September 30, 2014	$	(397,363)	$	(6,007)	$	151,229	$	-	$	(252,141)

($ in thousands)	Pension Costs		OPEB Costs		Deferred taxes on pension and OPEB costs		All other		Total
Balance at January 1, 2013	$	(697,874)	$	(74,264)	$	288,712	$	(150)	$	(483,576)
Other comprehensive income before reclassifications		133		(267)		(227)		2		(359)
Amounts reclassified from accumulated other comprehensive loss		30,948		1,575		(12,359)		-		20,164
Recognition of net actuarial loss for pension settlement costs		40,309		-		(15,317)		-		24,992
Net current-period other comprehensive income (loss)		71,390		1,308		(27,903)		2		44,797
Balance at September 30, 2013	$	(626,484)	$	(72,956)	$	260,809	$	(148)	$	(438,779)

The significant items reclassified from each component of accumulated other comprehensive loss for the three and nine months ended September 30, 2014 and 2013 are as follows:

($ in thousands)	Amount Reclassified from
	Accumulated Other Comprehensive Loss (a)
Details about Accumulated Other Comprehensive	For the three months ended September 30,				For the nine months ended September 30,				Affected Line Item in the Statement Where
Loss Components	2014		2013		2014		2013		Net Income is Presented
Amortization of Pension Cost Items (b)
Prior-service costs	$	(11)	$	(2)	$	(33)	$	(6)
Actuarial gains		(4,398)		(10,798)		(14,036)		(30,942)
Pension settlement costs		-		(40,309)		-		(40,309)
		(4,409)		(51,109)		(14,069)		(71,257)	Income (loss) before income taxes
Tax impact		1,675		19,421		5,346		27,078	Income tax (expense) benefit
	$	(2,734)	$	(31,688)	$	(8,723)	$	(44,179)	Net income (loss)
Amortization of OPEB Cost Items (b)
Prior-service costs	$	890	$	1,526	$	2,670	$	4,576
Actuarial gains		(449)		(1,695)		(1,893)		(6,151)
		441		(169)		777		(1,575)	Income (loss) before income taxes
Tax impact		(168)		64		(295)		598	Income tax (expense) benefit
	$	273	$	(105)	$	482	$	(977)	Net income (loss)

(a) Amounts in parentheses indicate losses.

(b) These accumulated other comprehensive loss components are included in the computation of net periodic pension and OPEB costs (see Note 15 - Retirement Plans for additional details).