Other comprehensive income (loss)

12 Months Ended

Dec. 31, 2016

Disclosure Text Block

Other Comprehensive Income (Loss)

Note 26 – Other comprehensive loss

The following table presents changes in accumulated other comprehensive loss by component for the years ended December 31, 2016, 2015 and2014.

		Changes in Accumulated Other Comprehensive Loss by Component [1]
				Years ended December 31,
(In thousands)					2016		2015		2014
Foreign currency translation		Beginning Balance		$	(35,930)	$	(32,832)	$	(36,099)
		Other comprehensive loss before
			reclassifications		(4,026)		(3,098)		(4,451)
		Amounts reclassified from accumulated other
			comprehensive loss		-		-		7,718
		Net change			(4,026)		(3,098)		3,267
		Ending balance		$	(39,956)	$	(35,930)	$	(32,832)
Adjustment of pension and
	postretirement benefit plans	Beginning Balance		$	(211,276)	$	(205,187)	$	(104,302)
		Other comprehensive loss before
			reclassifications		(11,402)		(16,032)		(98,015)
		Amounts reclassified from accumulated other
			comprehensive loss for amortization
			of net losses		13,386		12,261		(5,188)
		Amounts reclassified from accumulated other
			comprehensive loss for amortization
			of prior service credit		(2,318)		(2,318)		2,318
		Net change			(334)		(6,089)		(100,885)
		Ending balance		$	(211,610)	$	(211,276)	$	(205,187)
Unrealized net holding
	gains (losses) on	Beginning Balance		$	(9,560)	$	8,465	$	(48,344)
	investments	Other comprehensive (loss) income before
			reclassifications		(58,585)		(29,871)		55,987
		Other-than-temporary impairment amounts reclassified
			from accumulated other comprehensive (loss) income		167		11,959		-
		Amounts reclassified from accumulated other
			comprehensive (loss) income		(340)		(113)		822
		Net change			(58,758)		(18,025)		56,809
		Ending balance		$	(68,318)	$	(9,560)	$	8,465
Unrealized net losses
	on cash flow hedges	Beginning Balance		$	(120)	$	(318)	$	-
		Other comprehensive loss before
			reclassifications		(2,203)		(2,669)		(4,034)
		Amounts reclassified from other accumulated other
			comprehensive loss		1,921		2,867		3,716
		Net change			(282)		198		(318)
		Ending balance		$	(402)	$	(120)	$	(318)
		Total		$	(320,286)	$	(256,886)	$	(229,872)
[1] All amounts presented are net of tax.

		Reclassifications Out of Accumulated Other Comprehensive Loss
		Affected Line Item in the		Years ended December 31,
(In thousands)		Consolidated Statements of Operations		2016		2015		2014
Foreign currency translation
	Cumulative translation adjustment
	reclassified into earnings	Other operating income		$	-	$	-	$	(7,718)
		Total before tax			-		-		(7,718)
		Income tax (expense) benefit			-		-		-
		Total net of tax		$	-	$	-	$	(7,718)
Adjustment of pension and postretirement benefit plans
	Amortization of net losses	Personnel costs		$	(21,948)	$	(20,100)	$	8,505
	Amortization of prior service credit	Personnel costs			3,800		3,800		(3,800)
		Total before tax			(18,148)		(16,300)		4,705
		Income tax benefit (expense)			7,080		6,357		(1,835)
		Total net of tax		$	(11,068)	$	(9,943)	$	2,870
Unrealized holding gains (losses) on investments
	Realized gain (loss) on sale of securities	Net gain (loss) on sale and valuation adjustments
			of investment securities	$	379	$	141	$	(870)
		Other-than-temporary impairment losses
			on available-for-sale debt securities		(209)		(14,445)		-
		Total before tax			170		(14,304)		(870)
		Income tax benefit			3		2,458		48
		Total net of tax		$	173	$	(11,846)	$	(822)
Unrealized net losses on cash flow hedges
	Forward contracts	Mortgage banking activities		$	(3,149)	$	(4,702)	$	(6,091)
		Total before tax			(3,149)		(4,702)		(6,091)
		Income tax benefit			1,228		1,835		2,375
		Total net of tax		$	(1,921)	$	(2,867)	$	(3,716)
		Total reclassification adjustments, net of tax		$	(12,816)	$	(24,656)	$	(9,386)