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Accumulated Other Comprehensive Income (Loss) (Tables)
6 Months Ended
Jun. 30, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of accumulated other comprehensive income (loss) by component
The changes in accumulated other comprehensive income (loss) by component are as follows (in thousands):

 
Three Months Ended June 30, 2017
 
 
 
 
Pension Plans
 
 
 
Unrealized Gains (Losses) on Securities
 
Unrealized Gains (Losses) on Derivatives
 
Net Prior
 Service
 (Cost)
 Credit
 
Net Gain (Loss)
 
Total
Beginning balance, net of tax
$
(20,425
)
 
$
4,961

 
$
(134
)
 
$
(18,993
)
 
$
(34,591
)
Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss) before reclassifications
13,221

 
(1,768
)
 

 

 
11,453

Reclassified from accumulated other comprehensive income (loss)
288

 
223

 
(2
)
 
416

 
925

Income tax (expense) benefit
(4,728
)
 
541

 

 
(145
)
 
(4,332
)
Net current-period other comprehensive income (loss), net of tax
8,781

 
(1,004
)
 
(2
)
 
271

 
8,046

Ending balance, net of tax
$
(11,644
)
 
$
3,957

 
$
(136
)
 
$
(18,722
)
 
$
(26,545
)
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2017
 

 
 
Pension Plans
 
 
 
Unrealized Gains (Losses) on Securities
 
Unrealized Gains (Losses) on Derivatives
 
Net Prior
Service
(Cost)
Credit
 
Net Gain (Loss)
 
Total
Beginning balance, net of tax
$
(23,708
)
 
$
4,595

 
$
(133
)
 
$
(19,247
)
 
$
(38,493
)
Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss) before reclassifications
18,106

 
(1,575
)
 

 

 
16,531

Reclassified from accumulated other comprehensive income (loss)
454

 
593

 
(4
)
 
807

 
1,850

Income tax (expense) benefit
(6,496
)
 
344

 
1

 
(282
)
 
(6,433
)
Net current-period other comprehensive income (loss), net of tax
12,064

 
(638
)
 
(3
)
 
525

 
11,948

Ending balance, net of tax
$
(11,644
)
 
$
3,957

 
$
(136
)
 
$
(18,722
)
 
$
(26,545
)

 
Three Months Ended June 30, 2016
 
 
 
 
Pension Plans
 
 
 
Unrealized Gains (Losses) on Securities
 
Unrealized Gains (Losses) on Derivatives
 
Net Prior
 Service
 (Cost)
 Credit
 
Net Gain (Loss)
 
Total
Beginning balance, net of tax
$
16,245

 
$
(1,459
)
 
$
(47
)
 
$
(18,132
)
 
$
(3,393
)
Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss) before reclassifications
16,247

 
(3,594
)
 

 

 
12,653

Reclassified from accumulated other comprehensive income (loss)
(641
)
 
460

 
8

 
502

 
329

Income tax (expense) benefit
(5,462
)
 
1,097

 
(3
)
 
(176
)
 
(4,544
)
Net current-period other comprehensive income (loss), net of tax
10,144

 
(2,037
)
 
5

 
326

 
8,438

Ending balance, net of tax
$
26,389

 
$
(3,496
)
 
$
(42
)
 
$
(17,806
)
 
$
5,045

 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2016
 

 
 
Pension Plans
 
 
 
Unrealized Gains (Losses) on Securities
 
Unrealized Gains (Losses) on Derivatives
 
Net Prior
 Service
 (Cost)
 Credit
 
Net Gain (Loss)
 
Total
Beginning balance, net of tax
$
(239
)
 
$

 
$
(44
)
 
$
(18,400
)
 
$
(18,683
)
Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss) before reclassifications
43,991

 
(6,195
)
 

 

 
37,796

Reclassified from accumulated other comprehensive income (loss)
(3,025
)
 
817

 
4

 
913

 
(1,291
)
Income tax (expense) benefit
(14,338
)
 
1,882

 
(2
)
 
(319
)
 
(12,777
)
Net current-period other comprehensive income (loss), net of tax
26,628

 
(3,496
)
 
2

 
594

 
23,728

Ending balance, net of tax
$
26,389

 
$
(3,496
)
 
$
(42
)
 
$
(17,806
)
 
$
5,045

Reclassifications out of accumulated other comprehensive income
The reclassifications out of accumulated other comprehensive income (loss) into net income are presented below (in thousands):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
Unrealized losses on securities transferred to held to maturity:
 
 
 
 
 
 
 
Amortization of unrealized losses (1)
$
(213
)
 
$
(87
)
 
$
(701
)
 
$
(144
)
Tax benefit
75

 
30

 
245

 
50

Net of tax
$
(138
)
 
$
(57
)
 
$
(456
)
 
$
(94
)
 
 
 
 
 
 
 
 
Unrealized gains and losses on available for sale securities:
 
 
 
 
 
 
 
Realized net (loss) gain on sale of securities (2)
$
(75
)
 
$
728

 
$
247

 
$
3,169

Tax benefit (expense)
26

 
(255
)
 
(86
)
 
(1,109
)
Net of tax
$
(49
)
 
$
473

 
$
161

 
$
2,060

 
 
 
 
 
 
 
 
Derivatives:
 
 
 
 
 
 
 
Realized net loss on interest rate swap derivatives (3)
$
(245
)
 
$
(460
)
 
$
(624
)
 
$
(817
)
Tax benefit
86

 
161

 
218

 
286

Net of tax
$
(159
)
 
$
(299
)
 
$
(406
)
 
$
(531
)
 
 
 
 
 
 
 
 
Amortization of unrealized gains on terminated interest rate swap derivatives (3)
$
22

 
$

 
$
31

 
$

Tax expense
(8
)
 

 
(11
)
 

Net of tax
$
14

 
$

 
$
20

 
$

 
 
 
 
 
 
 
 
Amortization of pension plan:
 
 
 
 
 
 
 
Net actuarial loss (4)
$
(416
)
 
$
(502
)
 
$
(807
)
 
$
(913
)
Prior service credit (cost) (4)
2

 
(8
)
 
4

 
(4
)
Total before tax
(414
)
 
(510
)
 
(803
)
 
(917
)
Tax benefit
145

 
179

 
281

 
321

Net of tax
(269
)
 
(331
)
 
(522
)
 
(596
)
Total reclassifications for the period, net of tax
$
(601
)
 
$
(214
)
 
$
(1,203
)
 
$
839

(1)    Included in interest income on the consolidated statements of income.
(2)    Listed as net (loss) gain on sale of securities available for sale on the consolidated statements of income.
(3)    Included in interest expense for long-term obligations on the consolidated statements of income.
(4)
These accumulated other comprehensive income components are included in the computation of net periodic pension cost (income) presented in “Note 8 - Employee Benefit Plans.”