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Comprehensive Income (Tables)
9 Months Ended
Sep. 30, 2014
Equity [Abstract]  
Components of Comprehensive Income, Net of Related Tax

The components of comprehensive income, net of related tax, are as follows:

 

     Three Months Ended     Nine Months Ended  
     September 30,     September 30,  
     2014     2013     2014     2013  

Net income

   $ 35,391      $ 31,634      $ 104,746      $ 89,365   

Other comprehensive (loss) income:

        

Securities available for sale:

        

Unrealized (losses) gains arising during the period, net of tax (benefit) expense of $(1,551), $(2,635), $7,065 and $(8,835)

     (2,881     (4,894     13,120        (16,408

Reversal of non-credit related losses on debt securities not expected to be sold, net of tax expense of $3,335

     —          —          6,192        —     

Reclassification adjustment for gains included in net income, net of tax expense of $412, $2, $3,995 and $260

     (766     (3     (7,420     (483

Derivative instruments:

        

Unrealized (losses) gains arising during the period, net of tax (benefit) expense of $(253), $239, $2,112 and $(2,215)

     (469     443        3,922        (4,113

Pension and postretirement benefit obligations:

        

Unrealized gains arising during the period, net of tax expense of $121, $194, $355 and $569

     224        360        659        1,057   
  

 

 

   

 

 

   

 

 

   

 

 

 

Other comprehensive (loss) income

     (3,892     (4,094     16,473        (19,947
  

 

 

   

 

 

   

 

 

   

 

 

 

Comprehensive income

   $ 31,499      $ 27,540      $ 121,219      $ 69,418   
  

 

 

   

 

 

   

 

 

   

 

 

 
Changes in Accumulated Other Comprehensive Income, Net of Tax, by Component

The following table presents changes in accumulated other comprehensive income, net of tax, by component:

 

     Unrealized
Net Gains
(Losses) on
Securities
Available
for Sale
    Non-Credit
Related Loss
on Debt
Securities not
Expected to
be Sold
    Unrealized
Losses on
Derivative
Instruments
    Unrecognized
Pension and

Postretirement
Obligations
    Total  

Nine Months Ended September 30, 2014

          

Balance at beginning of period

   $ (11,874   $ (6,192   $ (6,586   $ (32,272   $ (56,924

Other comprehensive income (loss) before reclassifications

     13,120        6,192        3,922        659        23,893   

Amounts reclassified from accumulated other comprehensive income

     (7,420     —          —          —          (7,420
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net current period other comprehensive income (loss)

     5,700        6,192        3,922        659        16,473   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance at end of period

   $ (6,174   $ —        $ (2,664   $ (31,613   $ (40,451
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Summary of Reclassifications Out of Accumulated Other Comprehensive Income

The following table presents a summary of the reclassifications out of accumulated other comprehensive income:

Nine Months Ended September 30, 2014

 

Details About Accumulated Other

Comprehensive Income Component

   Amount
Reclassified from
Other
Comprehensive
Income
    Affected Line Item
in the Statement
where Net Income
is Presented

Unrealized net gains on securities available for sale (1)

   $ (11,415   Net securities gains
     (3,995   Tax expense
  

 

 

   
   $ (7,420  
  

 

 

   

 

(1) For additional detail related to unrealized net gains on securities available for sale and related amounts reclassified from accumulated other comprehensive income see the “Securities” note in this Report.