Comprehensive income (Tables)

12 Months Ended

Dec. 31, 2012

Components of Other Comprehensive Income

The following table displays the components of other comprehensive income:

	Before-tax Amount			Income Taxes			Net
	(In thousands)
For the year ended December 31, 2012
Unrealized gains (losses) on investment securities:
Available-for-sale (“AFS”) investment securities with other-than-temporary impairment (“OTTI”):
Unrealized holding losses, net	$	(150	)	$	59		$	(91	)
Less: OTTI charges recognized in net income		(42,467	)		16,668			(25,799	)
Net change for AFS investment securities with OTTI		42,317			(16,609	)		25,708
AFS investment securities – all other:
Unrealized holding gains, net		137,922			(54,083	)		83,839
Less: reclassification adjustment for gains realized in net income		9			(4	)		5
Net change for AFS investment securities – all other		137,913			(54,079	)		83,834
Held-to-maturity (“HTM”) investment securities with OTTI:
Unrealized holding losses, net		(2,848	)		1,118			(1,730	)
Less: reclassification to income of unrealized holding losses		(1,660	)		652			(1,008	)
Less: OTTI charges recognized in net income		(5,355	)		2,102			(3,253	)
Net change for HTM investment securities with OTTI		4,167			(1,636	)		2,531
Reclassification to income of unrealized holding losses on investment securities previously transferred from AFS to HTM		4,530			(1,778	)		2,752
Net unrealized gains on investment securities		188,927			(74,102	)		114,825
Reclassification to income for amortization of gains on terminated cash flow hedges		(178	)		66			(112	)
Foreign currency translation adjustment		809			(290	)		519
Defined benefit plans liability adjustment		1,555			(610	)		945
	$	191,113		$	(74,936	)	$	116,177
For the year ended December 31, 2011
Unrealized gains (losses) on investment securities:
AFS investment securities with OTTI:
Unrealized holding losses, net	$	(58,628	)	$	23,106		$	(35,522	)
Less: reclassification adjustment for gains realized in net income		3,814			(1,497	)		2,317
Less: OTTI charges recognized in net income		(64,919	)		25,480			(39,439	)
Net change for AFS investment securities with OTTI		2,477			(877	)		1,600
AFS investment securities — all other:
Unrealized holding gains, net		144,941			(56,714	)		88,227
Less: reclassification adjustment for gains realized in net income		146,115			(57,256	)		88,859
Net change for AFS investment securities – all other		(1,174	)		542			(632	)
HTM investment securities with OTTI:
Unrealized holding losses, net		(10,317	)		4,049			(6,268	)
Less: reclassification to income of unrealized holding losses		(545	)		214			(331	)
Less: OTTI charges recognized in net income		(12,116	)		4,755			(7,361	)
Net change for HTM investment securities with OTTI		2,344			(920	)		1,424
Unrealized holding losses on investment securities previously transferred from AFS to HTM:
Reclassification to income of unrealized holding losses		6,490			(2,548	)		3,942
Unrealized holding losses transferred to HTM investment securities with OTTI		580			(227	)		353
Net change for investment securities previously transferred from AFS to HTM		7,070			(2,775	)		4,295
Net unrealized gains on investment securities		10,717			(4,030	)		6,687
Reclassification to income for amortization of gains on terminated cash flow hedges		(448	)		167			(281	)
Foreign currency translation adjustment		(1,240	)		437			(803	)
Defined benefit plans liability adjustment		(258,146	)		101,322			(156,824	)
	$	(249,117	)	$	97,896		$	(151,221	)
For the year ended December 31, 2010
Unrealized gains (losses) on investment securities:
AFS investment securities with OTTI:
Unrealized holding losses, net	$	(104,039	)	$	40,566		$	(63,473	)
Less: OTTI charges recognized in net income		(81,199	)		31,552			(49,647	)
Net change for AFS investment securities with OTTI		(22,840	)		9,014			(13,826	)
AFS investment securities — all other:
Unrealized holding gains, net		236,167			(92,190	)		143,977
Less: reclassification adjustment for gains realized in net income		1,581			(610	)		971
Net change for AFS investment securities – all other		234,586			(91,580	)		143,006
HTM investment securities with OTTI:
Unrealized holding losses, net		(11,908	)		4,674			(7,234	)
Less: reclassification to income of unrealized holding losses		(7,984	)		3,134			(4,850	)
Less: OTTI charges recognized in net income		(5,082	)		1,995			(3,087	)
Net change for HTM investment securities with OTTI		1,158			(455	)		703
Reclassification to income of unrealized holding losses on investment securities previously transferred from AFS to HTM		8,264			(3,243	)		5,021
Net unrealized gains on investment securities		221,168			(86,264	)		134,904
Reclassification to income for amortization of gains on terminated cash flow hedges		(448	)		167			(281	)
Defined benefit plans liability adjustment		(6,331	)		2,485			(3,846	)
	$	214,389		$	(83,612	)	$	130,777

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 at January 1, 2010	$	(76,772	)	$	(142,853	)	$	674		$	—		$	(117,046	)	$	(335,997	)
Net gain (loss) during 2010		(10,281	)		145,185			(281	)		—			(3,846	)		130,777
Balance at December 31, 2010		(87,053	)		2,332			393			—			(120,892	)		(205,220	)
Net gain (loss) during 2011		3,024			3,663			(281	)		(803	)		(156,824	)		(151,221	)
Balance at December 31, 2011		(84,029	)		5,995			112			(803	)		(277,716	)		(356,441	)
Net gain (loss) during 2012		28,239			86,586			(112	)		519			945			116,177
Balance at December 31, 2012	$	(55,790	)	$	92,581		$	—		$	(284	)	$	(276,771	)	$	(240,264	)