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Comprehensive income (Tables)
3 Months Ended
Mar. 31, 2018
Equity [Abstract]  
Components of Other Comprehensive Income (Loss) and Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Net 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

 

 

Defined Benefit

 

 

 

 

 

 

Total

Amount

 

 

 

Income

 

 

 

 

 

 

 

 

 

 

 

Securities (a)

 

 

Plans

 

 

Other

 

 

Before Tax

 

 

 

Tax

 

 

Net

 

 

 

 

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance — January 1, 2018

 

 

 

 

 

$

(59,957

)

 

 

(413,168

)

 

 

(20,165

)

 

$

(493,290

)

 

 

 

129,476

 

 

$

(363,814

)

Cumulative effect of change in accounting principle — equity

    securities

 

 

 

 

 

 

(22,795

)

 

 

 

 

 

 

 

 

(22,795

)

 

 

 

5,942

 

 

 

(16,853

)

Other comprehensive income before reclassifications:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding gains (losses), net

 

 

 

 

 

 

(145,457

)

 

 

 

 

 

 

 

 

(145,457

)

 

 

 

44,176

 

 

 

(101,281

)

Foreign currency translation adjustment

 

 

 

 

 

 

 

 

 

 

 

 

1,632

 

 

 

1,632

 

 

 

 

(342

)

 

 

1,290

 

Unrealized losses on cash flow hedges

 

 

 

 

 

 

 

 

 

 

 

 

(14,719

)

 

 

(14,719

)

 

 

 

3,870

 

 

 

(10,849

)

Total other comprehensive income (loss) before

   reclassifications

 

 

 

 

 

 

(145,457

)

 

 

 

 

 

(13,087

)

 

 

(158,544

)

 

 

 

47,704

 

 

 

(110,840

)

Amounts reclassified from accumulated other

   comprehensive income that (increase) decrease

   net income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of unrealized holding losses on

   held-to-maturity (“HTM”) securities

 

 

 

 

 

 

810

 

 

 

 

 

 

 

 

 

810

 

(c)

 

 

(213

)

 

 

597

 

Accretion of net gain on terminated cash flow

   hedges

 

 

 

 

 

 

 

 

 

 

 

 

(28

)

 

 

(28

)

(d)

 

 

7

 

 

 

(21

)

Net yield adjustment from cash flow

   hedges currently in effect

 

 

 

 

 

 

 

 

 

 

 

 

580

 

 

 

580

 

(d)

 

 

(152

)

 

 

428

 

Amortization of prior service credit

 

 

 

 

 

 

 

 

 

(1,050

)

 

 

 

 

 

(1,050

)

(e)

 

 

276

 

 

 

(774

)

Amortization of actuarial losses

 

 

 

 

 

 

 

 

 

10,900

 

 

 

 

 

 

10,900

 

(e)

 

 

(2,866

)

 

 

8,034

 

Total other comprehensive income (loss)

 

 

 

 

 

 

(144,647

)

 

 

9,850

 

 

 

(12,535

)

 

 

(147,332

)

 

 

 

44,756

 

 

 

(102,576

)

Balance — March 31, 2018

 

 

 

 

 

$

(227,399

)

 

 

(403,318

)

 

 

(32,700

)

 

$

(663,417

)

 

 

 

180,174

 

 

$

(483,243

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment Securities

 

 

Defined

Benefit

 

 

 

 

 

 

Total

Amount

 

 

 

Income

 

 

 

 

 

 

 

With OTTI (b)

 

 

All Other

 

 

Plans

 

 

Other

 

 

Before Tax

 

 

 

Tax

 

 

Net

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance — January 1, 2017

 

$

46,725

 

 

 

(73,785

)

 

 

(449,917

)

 

 

(8,268

)

 

$

(485,245

)

 

 

 

190,609

 

 

$

(294,636

)

Other comprehensive income before reclassifications:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding gains (losses), net

 

 

(8,628

)

 

 

5,613

 

 

 

 

 

 

 

 

 

(3,015

)

 

 

 

1,182

 

 

 

(1,833

)

Foreign currency translation adjustment

 

 

 

 

 

 

 

 

 

 

 

732

 

 

 

732

 

 

 

 

(256

)

 

 

476

 

Total other comprehensive income (loss) before

   reclassifications

 

 

(8,628

)

 

 

5,613

 

 

 

 

 

 

732

 

 

 

(2,283

)

 

 

 

926

 

 

 

(1,357

)

Amounts reclassified from accumulated other

   comprehensive income that (increase) decrease

   net income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of unrealized holding losses on

   HTM securities

 

 

 

 

 

787

 

 

 

 

 

 

 

 

 

787

 

(c)

 

 

(310

)

 

 

477

 

Accretion of net gain on terminated cash flow

   hedges

 

 

 

 

 

 

 

 

 

 

 

(39

)

 

 

(39

)

(d)

 

 

16

 

 

 

(23

)

Amortization of prior service credit

 

 

 

 

 

 

 

 

(225

)

 

 

 

 

 

(225

)

(e)

 

 

88

 

 

 

(137

)

Amortization of actuarial losses

 

 

 

 

 

 

 

 

6,775

 

 

 

 

 

 

6,775

 

(e)

 

 

(2,666

)

 

 

4,109

 

Total other comprehensive income (loss)

 

 

(8,628

)

 

 

6,400

 

 

 

6,550

 

 

 

693

 

 

 

5,015

 

 

 

 

(1,946

)

 

 

3,069

 

Balance — March 31, 2017

 

$

38,097

 

 

 

(67,385

)

 

 

(443,367

)

 

 

(7,575

)

 

$

(480,230

)

 

 

 

188,663

 

 

$

(291,567

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)

Beginning January 1, 2018, equity securities with readily determinable fair values are required to be measured at fair value with changes in fair value recognized in the income statement. All investment securities with an other-than-temporary impairment charge are within scope of the adopted accounting guidance and no longer require separate presentation.

(b)

Other-than-temporary impairment

(c)

Included in interest income

(d)

Included in interest expense

(e)

Included in other costs of operations

Accumulated Other Comprehensive Income (Loss), Net

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

 

 

 

Investment

 

 

Defined

Benefit

 

 

 

 

 

 

 

 

 

 

 

Securities

 

 

Plans

 

 

Other

 

 

Total

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance — December 31, 2017

 

$

(44,150

)

 

 

(304,546

)

 

 

(15,118

)

 

$

(363,814

)

Cumulative effect of change in accounting principle — equity securities

 

 

(16,853

)

 

 

 

 

 

 

 

 

(16,853

)

Net gain (loss) during period

 

 

(100,684

)

 

 

7,260

 

 

 

(9,152

)

 

 

(102,576

)

Balance — March 31, 2018

 

$

(161,687

)

 

 

(297,286

)

 

 

(24,270

)

 

$

(483,243

)