Comprehensive income

6 Months Ended

Jun. 30, 2016

Equity [Abstract]

Comprehensive income

9. Comprehensive income

The following tables display the components of other comprehensive income (loss) and amounts reclassified from accumulated other comprehensive income (loss) to net income:

	Investment securities
	With OTTI (a)		All other			Defined benefit plans			Other			Total amount before tax			Income tax			Net
	(in thousands)
Balance – January 1, 2016	$	16,359		62,849			(489,660	)		(4,093	)	$	(414,545	)		162,918		$	(251,627	)
Other comprehensive income before reclassifications:
Unrealized holding gains, net		9,260		227,118			—			—			236,378			(93,010	)		143,368
Foreign currency translation adjustment		—		—			—			(2,489	)		(2,489	)		871			(1,618	)
Total other comprehensive income (loss) before reclassifications		9,260		227,118			—			(2,489	)		233,889			(92,139	)		141,750
Amounts reclassified from accumulated other comprehensive income that (increase) decrease net income:
Accretion of unrealized holding losses on held-to-maturity (“HTM”) securities		—		2,081			—			—			2,081	(b)		(819	)		1,262
Gains realized in net income		—		(268	)		—			—			(268	)(c)		102			(166	)
Accretion of net gain on terminated cash flow hedges		—		—			—			(77	)		(77	)(d)		30			(47	)
Amortization of prior service credit		—		—			(2,294	)		—			(2,294	)(e)		902			(1,392	)
Amortization of actuarial losses		—		—			15,103			—			15,103	(e)		(5,904	)		9,199
Total reclassifications		—		1,813			12,809			(77	)		14,545			(5,689	)		8,856
Total gain (loss) during the period		9,260		228,931			12,809			(2,566	)		248,434			(97,828	)		150,606
Balance – June 30, 2016	$	25,619		291,780			(476,851	)		(6,659	)	$	(166,111	)		65,090		$	(101,021	)

	Investment securities
	With OTTI (a)		All other			Defined benefit plans			Other			Total amount before tax			Income tax			Net
	(in thousands)
Balance – January 1, 2015	$	7,438		201,828			(503,027	)		(4,082	)	$	(297,843	)		116,849		$	(180,994	)
Other comprehensive income before reclassifications:
Unrealized holding gains (losses), net		5,670		(85,602	)		—			—			(79,932	)		31,617			(48,315	)
Foreign currency translation adjustment		—		—			—			(779	)		(779	)		261			(518	)
Gains on cash flow hedges		—		—			—			1,453			1,453			(568	)		885
Total other comprehensive income (loss) before reclassifications		5,670		(85,602	)		—			674			(79,258	)		31,310			(47,948	)
Amounts reclassified from accumulated other comprehensive income that (increase) decrease net income:
Accretion of unrealized holding losses on HTM securities		—		1,589			—			—			1,589	(b)		(621	)		968
Losses realized in net income		—		108			—			—			108	(c)		(40	)		68
Accretion of net gain on terminated cash flow hedges		—		—			—			(63	)		(63	)(d)		25			(38	)
Amortization of prior service credit		—		—			(3,682	)		—			(3,682	)(e)		1,640			(2,042	)
Amortization of actuarial losses		—		—			22,465			—			22,465	(e)		(9,981	)		12,484
Total reclassifications		—		1,697			18,783			(63	)		20,417			(8,977	)		11,440
Total gain (loss) during the period		5,670		(83,905	)		18,783			611			(58,841	)		22,333			(36,508	)
Balance – June 30, 2015	$	13,108		117,923			(484,244	)		(3,471	)	$	(356,684	)		139,182		$	(217,502	)

(a) Other-than-temporary impairment

(b) Included in interest income

(c) Included in gain (loss) on bank investment securities

(d) Included in interest expense

(e) Included in salaries and employee benefits expense

Accumulated other comprehensive income (loss), net consisted of the following:

					Defined
	Investment securities				benefit
	With OTTI		All other		plans			Other			Total
	(in thousands)
Balance – December 31, 2015	$	9,921		38,166		(296,979	)		(2,735	)	$	(251,627	)
Net gain (loss) during period		5,616		138,848		7,807			(1,665	)		150,606
Balance – June 30, 2016	$	15,537		177,014		(289,172	)		(4,400	)	$	(101,021	)