XML 72 R27.htm IDEA: XBRL DOCUMENT v2.4.0.8
Comprehensive Income (Tables)
 9 Months Ended
Sep. 30, 2014
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Schedule of Components of Comprehensive Income-Gross and Net of Tax
Third Quarter 2014
 
 
 
 
 
 
($ in thousands)
 
Gross
 
Tax
 
Net
Net income
 
$
75,326

 
22,164

 
53,162

Components of OCI:
 
 

 
 

 
 

Unrealized losses on investment securities:
 
 

 
 

 
 

Unrealized holding losses during the period
 
(13,831
)
 
(4,843
)
 
(8,988
)
Amounts reclassified into net income:
 
 
 
 
 
 
HTM securities
 
(373
)
 
(130
)
 
(243
)
Non-credit OTTI
 
1,200

 
420

 
780

Realized gains on AFS securities
 
(16,435
)
 
(5,752
)
 
(10,683
)
Net unrealized losses
 
(29,439
)
 
(10,305
)
 
(19,134
)
Defined benefit pension and post-retirement plans:
 
 

 
 

 
 

Amounts reclassified into net income:
 
 

 
 

 
 

Net actuarial loss
 
381

 
134

 
247

Defined benefit pension and post-retirement plans
 
381

 
134

 
247

Other comprehensive loss
 
(29,058
)
 
(10,171
)
 
(18,887
)
Comprehensive income
 
$
46,268

 
11,993

 
34,275


Third Quarter 2013
 
 
 
 
 
 
($ in thousands)
 
Gross
 
Tax
 
Net
Net income
 
$
44,485

 
11,832

 
32,653

Components of OCI:
 
 

 
 

 
 

Unrealized losses on investment securities:
 
 

 
 

 
 

Unrealized holding gains during the period
 
9,820

 
3,437

 
6,383

Amounts reclassified into net income:
 
 
 
 
 
 
HTM securities
 
(472
)
 
(165
)
 
(307
)
Non-credit OTTI
 
1

 
—

 
1

Realized gains on AFS securities
 
(13,516
)
 
(4,731
)
 
(8,785
)
Net unrealized losses
 
(4,167
)
 
(1,459
)
 
(2,708
)
Defined benefit pension and post-retirement plans:
 
 

 
 

 
 

Amounts reclassified into net income:
 
 

 
 

 
 

Net actuarial loss
 
790

 
277

 
513

Defined benefit pension and post-retirement plans
 
790

 
277

 
513

Other comprehensive loss
 
(3,377
)
 
(1,182
)
 
(2,195
)
Comprehensive loss
 
$
41,108

 
10,650

 
30,458


 
Nine Months 2014
 
 
 
 
 
 
($ in thousands)
 
Gross
 
Tax
 
Net
Net income
 
$
139,931

 
39,454

 
100,477

Components of OCI:
 
 

 
 

 
 

Unrealized gains on investment securities:
 
 

 
 

 
 

Unrealized holding gains during the period
 
64,255

 
22,488

 
41,767

Amounts reclassified into net income:
 
 
 
 
 
 
HTM securities
 
(1,050
)
 
(367
)
 
(683
)
Non-credit OTTI
 
1,669

 
584

 
1,085

Realized gains on AFS securities
 
(28,672
)
 
(10,035
)
 
(18,637
)
Net unrealized gains
 
36,202

 
12,670

 
23,532

Defined benefit pension and post-retirement plans:
 
 

 
 

 
 

Amounts reclassified into net income:
 
 

 
 

 
 

Net actuarial loss
 
1,142

 
400

 
742

Defined benefit pension and post-retirement plans
 
1,142

 
400

 
742

Other comprehensive income
 
37,344

 
13,070

 
24,274

Comprehensive income
 
$
177,275

 
52,524

 
124,751

Nine Months 2013
 
 
 
 
 
 
($ in thousands)
 
Gross
 
Tax
 
Net
Net income
 
$
108,019

 
26,936

 
81,083

Components of OCI:
 
 

 
 

 
 

Unrealized losses on investment securities:
 
 

 
 

 
 

Unrealized holding losses during the period
 
(77,810
)
 
(27,234
)
 
(50,576
)
Non-credit OTTI recognized in OCI
 
77

 
27

 
50

Amounts reclassified into net income:
 
 
 
 
 
 
HTM securities
 
(1,803
)
 
(631
)
 
(1,172
)
Non-credit OTTI
 
14

 
5

 
9

Realized gains on AFS securities
 
(24,780
)
 
(8,673
)
 
(16,107
)
Net unrealized losses
 
(104,302
)
 
(36,506
)
 
(67,796
)
Defined benefit pension and post-retirement plans:
 
 

 
 

 
 

Net actuarial gains
 
44,000

 
15,400

 
28,600

Amounts reclassified into net income:
 
 

 
 

 
 

Net actuarial loss
 
3,419

 
1,197

 
2,222

Prior service cost
 
10

 
4

 
6

Curtailment expense
 
16

 
5

 
11

Defined benefit pension and post-retirement plans
 
47,445

 
16,606

 
30,839

Other comprehensive loss
 
(56,857
)
 
(19,900
)
 
(36,957
)
Comprehensive income
 
$
51,162

 
7,036

 
44,126
Schedule of Components of Accumulated Other Comprehensive Income
September 30, 2014
 
Net Unrealized (Loss) Gain on Investment Securities
 
 
 
 
($ in thousands)
 
OTTI
Related
 
HTM
Related
 
All
Other
 
Investments
Subtotal
 
Defined Benefit
Pension and Post-Retirement Plans
 
Total AOCI
Balance, December 31, 2013
 
$
(1,599
)
 
1,467

 
51,635

 
51,503

 
(26,652
)
 
24,851

OCI before reclassifications
 
—

 
—

 
41,767

 
41,767

 
—

 
41,767

Amounts reclassified from AOCI
 
1,085

 
(683
)
 
(18,637
)
 
(18,235
)
 
742

 
(17,493
)
Net current period OCI
 
1,085

 
(683
)
 
23,130

 
23,532

 
742

 
24,274

Balance, September 30, 2014
 
$
(514
)
 
784

 
74,765

 
75,035

 
(25,910
)
 
49,125
Schedule of Reclassifications Out Of Accumulated Other Comprehensive Income
 
Quarter ended
September 30,
 
Nine Months ended
September 30,
 
($ in thousands)
2014
 
2013
 
2014
 
2013
Affected Line Item in the Unaudited Consolidated Statement of Income
OTTI related
 
 
 
 
 
 
 
 
Amortization of non-credit OTTI losses on HTM securities
—

 
1

 
—

 
14

Net investment income earned
Non-credit OTTI on disposed securities
1,200

 
—

 
1,669

 
—

Net realized gains
 
1,200

 
1

 
1,669

 
14

Income from continuing operations, before federal income tax
 
(420
)
 
—

 
(584
)
 
(5
)
Total federal income tax expense
 
780

 
1

 
1,085

 
9

Net income
HTM related
 
 
 
 
 
 
 
 
Unrealized losses (gains) on HTM disposals
12

 
(19
)
 
87

 
(170
)
Net realized gains
Amortization of net unrealized gains on HTM securities
(385
)
 
(453
)
 
(1,137
)
 
(1,633
)
Net investment income earned
 
(373
)
 
(472
)
 
(1,050
)
 
(1,803
)
Income from continuing operations, before federal income tax
 
130

 
165

 
367

 
631

Total federal income tax expense
 
(243
)
 
(307
)
 
(683
)
 
(1,172
)
Net income
Realized gains and losses on AFS and OTTI
 
 
 
 
 
 
 
 
Realized gains on AFS disposals and OTTI
(16,435
)
 
(13,516
)
 
(28,672
)
 
(24,780
)
Net realized gains
 
(16,435
)
 
(13,516
)
 
(28,672
)
 
(24,780
)
Income from continuing operations, before federal income tax
 
5,752

 
4,731

 
10,035

 
8,673

Total federal income tax expense
 
(10,683
)
 
(8,785
)
 
(18,637
)
 
(16,107
)
Net income
Defined benefit pension and post-retirement life plans
 
 
 
 
 
 
 
 
Net actuarial loss
88

 
159

 
263

 
717

Loss and loss expense incurred
 
293

 
631

 
879

 
2,702

Policy acquisition costs
 
381

 
790

 
1,142

 
3,419

Income from continuing operations, before federal income tax
 
 
 
 
 
 
 
 
 
Prior service cost
—

 
—

 
—

 
7

Loss and loss adjustment expenses
 
—

 
—

 
—

 
3

Policy acquisition costs
 
—

 
—

 
—

 
10

Income from continuing operations, before federal income tax
 
 
 
 
 
 
 
 
 
Curtailment expense
—

 
—

 
—

 
16

Policy acquisition costs
 
—

 
—

 
—

 
16

Income from continuing operations, before federal income tax
 
 
 
 
 
 
 
 
 
Total defined benefit pension and post-retirement life
381

 
790

 
1,142

 
3,445

Income from continuing operations, before federal income tax
 
(134
)
 
(277
)
 
(400
)
 
(1,206
)
Total federal income tax expense
 
247

 
513

 
742

 
2,239

Net income
 
 
 
 
 
 
 
 
 
Total reclassifications for the period
(9,899
)
 
(8,578
)
 
(17,493
)
 
(15,031
)
Net income