Comprehensive income (Tables)

9 Months Ended

Sep. 30, 2011

Stockholders' equity / Comprehensive income [Abstract]

Components of other comprehensive income (loss)

The following table displays the components of other comprehensive income (loss):

		Before-tax			Before-tax			Before-tax
	Nine months ended September 30, 2011
	Before-tax amount			Income taxes			Net
	(in thousands)
Unrealized gains (losses) on investment securities:
Available-for-sale (“AFS”) investment securities with other-than-temporary impairment (“OTTI”):
Unrealized holding losses, net	$	(35,305	)		13,952			(21,353	)
Less: reclassification adjustment for gains realized in net income		3,814			(1,497	)		2,317
Less: OTTI charges recognized in net income		(41,713	)		16,372			(25,341	)
Net change for AFS investment securities with OTTI		2,594			(923	)		1,671
AFS investment securities – all other:
Unrealized holding gains, net		147,338			(57,629	)		89,709
Less: reclassification adjustment for gains realized in net income		146,115			(57,257	)		88,858
Net change for AFS investment securities – all other		1,223			(372	)		851
Held-to-maturity (“HTM”) investment securities with OTTI:
Unrealized holding losses, net		(8,500	)		3,336			(5,164	)
Less: reclassification to income of unrealized holding losses		(213	)		83			(130	)
Less: OTTI charges recognized in net income		(10,500	)		4,121			(6,379	)
Net change for HTM investment securities with OTTI		2,213			(868	)		1,345
Reclassification to income of unrealized holding losses on investment securities previously transferred from AFS to HTM		5,108			(2,005	)		3,103
Net unrealized gains on investment securities		11,138			(4,168	)		6,970
Reclassification to income for amortization of gains on terminated cash flow hedges		(336	)		125			(211	)
Foreign currency translation adjustment		(779	)		276			(503	)
Defined benefit plans liability adjustment		10,586			(4,155	)		6,431
	$	20,609			(7,922	)		12,687

		$(35,305)			$(35,305)			$(35,305)
	Nine months ended September 30, 2010
	Before-tax amount			Income taxes			Net
	(in thousands)
Unrealized gains (losses) on investment securities:
AFS investment securities with OTTI:
Unrealized holding losses, net	$	(67,052	)		26,074			(40,978	)
Less: OTTI charges recognized in net income		(58,714	)		22,758			(35,956	)
Net change for AFS investment securities with OTTI		(8,338	)		3,316			(5,022	)
AFS investment securities – all other:
Unrealized holding gains, net		233,174			(91,018	)		142,156
Less: reclassification adjustment for gains realized in net income		1,023			(392	)		631
Net change for AFS investment securities – all other		232,151			(90,626	)		141,525
Reclassification to income of unrealized holding losses on investment securities previously transferred from AFS to HTM		6,400			(2,511	)		3,889
Net unrealized gains on investment securities		230,213			(89,821	)		140,392
Reclassification to income for amortization of gains on terminated cash flow hedges		(336	)		125			(211	)
Defined benefit plans liability adjustment		5,370			(2,108	)		3,262
	$	235,247			(91,804	)		143,443

Accumulated other comprehensive income (loss), net consisted of unrealized gains (losses)

Accumulated other comprehensive income (loss), net consisted of unrealized gains (losses) as follows:

	Investment securities						Cash flow hedges			Foreign currency translation adjustment			Defined benefit plans			Total
	With OTTI			All other
	(in thousands)
Balance - January 1, 2011	$	(87,053	)		2,332			393			—			(120,892	)		(205,220	)
Net gain (loss) during period		3,016			3,954			(211	)		(503	)		6,431			12,687
Balance - September 30, 2011	$	(84,037	)		6,286			182			(503	)		(114,461	)		(192,533	)
Balance - January 1, 2010	$	(76,772	)		(142,853	)		674			—			(117,046	)		(335,997	)
Net gain (loss) during period		(5,022	)		145,414			(211	)		—			3,262			143,443
Balance - September 30, 2010	$	(81,794	)		2,561			463			—			(113,784	)		(192,554	)