Earnings per share and shareholders' equity (Tables)

9 Months Ended

Sep. 30, 2013

Earnings per share and shareholders' equity

Schedule of earnings per share

Earnings per share.  Under the two-class method of computing earnings per share (EPS), EPS was comprised as follows for both participating securities and unrestricted common stock:

	Three months ended September 30					Nine months ended September 30
	2013			2012		2013				2012
	Basic		Diluted	Basic and diluted		Basic		Diluted		Basic and diluted
Distributed earnings	$	0.31	0.31	$	0.31	$	0.93	$	0.93	$	0.93
Undistributed earnings	0.18		0.17	0.18		0.31		0.30		0.36
	$	0.49	0.48	$	0.49	$	1.24	$	1.23	$	1.29

Schedule of reclassifications out of accumulated other comprehensive income/(loss)

Accumulated other comprehensive income.  Reclassifications out of accumulated other comprehensive income/(loss) (AOCI) were as follows:

	Amount reclassified from AOCI
	Three months    ended September 30						Nine months    ended September 30
(in thousands)	2013			2012			2013			2012			Affected line item in the Statement of Income
Net realized gains on securities	$	—		$	—		$	(738	)	$	(81	)	Revenues-bank (net gains on sales of securities)
Derivatives qualified as cash flow hedges
Interest rate contracts (settled in 2011)	59			59			177			177			Interest expense
Retirement benefit plan items
Amortization of transition obligation, prior service credit and net losses recognized during the period in net periodic benefit cost	5,789			3,826			17,490			11,467			See Note 5 for additional details
Less: reclassification adjustment for impact of D&Os of the PUC included in regulatory assets	(5,156		)	(3,342		)	(15,468		)	(10,026		)	See Note 5 for additional details
Total reclassifications	$	692		$	543		$	1,461		$	1,537