Other comprehensive income (loss)

3 Months Ended

Mar. 31, 2017

Disclosure Text Block

Other Comprehensive Income (Loss)

Note 19 – Other comprehensive loss

The following table presents changes in accumulated other comprehensive loss by component for the quarters ended March 31,2017and2016.

		Changes in Accumulated Other Comprehensive Loss by Component [1]
				Quarters ended
				March 31,
(In thousands)					2017		2016
Foreign currency translation		Beginning Balance		$	(39,956)	$	(35,930)
		Other comprehensive income (loss)			139		(705)
		Net change			139		(705)
		Ending balance		$	(39,817)	$	(36,635)
Adjustment of pension and
	postretirement benefit plans	Beginning Balance		$	(211,610)	$	(211,276)
		Amounts reclassified from accumulated other
			comprehensive loss for amortization
			of net losses		3,421		3,346
		Amounts reclassified from accumulated other
			comprehensive loss for amortization
			of prior service credit		(580)		(580)
		Net change			2,841		2,766
		Ending balance		$	(208,769)	$	(208,510)
Unrealized net holding
	(losses) gains on investments	Beginning Balance		$	(68,318)	$	(9,560)
		Other comprehensive (loss) income before
			reclassifications		(2,609)		73,351
		Amounts reclassified from accumulated other
			comprehensive (loss) income		(130)		-
		Net change			(2,739)		73,351
		Ending balance		$	(71,057)	$	63,791
Unrealized net losses
	on cash flow hedges	Beginning Balance		$	(402)	$	(120)
		Other comprehensive loss before
			reclassifications		(389)		(1,219)
		Amounts reclassified from other accumulated other
			comprehensive loss		522		943
		Net change			133		(276)
		Ending balance		$	(269)	$	(396)
		Total		$	(319,912)	$	(181,750)
[1] All amounts presented are net of tax.

The following table presents the amounts reclassified out of each component of accumulated other comprehensive lossduring the quarters ended March 31,2017 and 2016.

		Reclassifications Out of Accumulated Other Comprehensive Loss
		Affected Line Item in the		Quarters ended March 31,
(In thousands)		Consolidated Statements of Operations		2017		2016
Adjustment of pension and postretirement benefit plans
	Amortization of net losses	Personnel costs		$	(5,607)	$	(5,486)
	Amortization of prior service credit	Personnel costs			950		950
		Total before tax			(4,657)		(4,536)
		Income tax benefit			1,816		1,770
		Total net of tax		$	(2,841)	$	(2,766)
Unrealized holding (losses) gains on investments
	Realized gain on sale of securities	Net gain on sale and valuation adjustments
			of investment securities	$	162	$	-
		Total before tax			162		-
		Income tax expense			(32)		-
		Total net of tax		$	130	$	-
Unrealized net losses on cash flow hedges
	Forward contracts	Mortgage banking activities		$	(855)	$	(1,545)
		Total before tax			(855)		(1,545)
		Income tax benefit			333		602
		Total net of tax		$	(522)	$	(943)
		Total reclassification adjustments, net of tax		$	(3,233)	$	(3,709)