Other comprehensive income (loss)

9 Months Ended

Sep. 30, 2017

Disclosure Text Block

Other Comprehensive Income (Loss)

Note 20 – Other comprehensive loss

The following table presents changes in accumulated other comprehensive loss by component for the quarters and nine months ended September 30,2017 and2016.

		Changes in Accumulated Other Comprehensive Loss by Component [1]
				Quarters ended				Nine months ended
				September 30,				September 30,
(In thousands)					2017		2016		2017		2016
Foreign currency translation		Beginning Balance		$	(41,405)	$	(38,070)	$	(39,956)	$	(35,930)
		Other comprehensive loss			(390)		(325)		(1,839)		(2,465)
		Net change			(390)		(325)		(1,839)		(2,465)
		Ending balance		$	(41,795)	$	(38,395)	$	(41,795)	$	(38,395)
Adjustment of pension and
	postretirement benefit plans	Beginning Balance		$	(205,928)	$	(205,743)	$	(211,610)	$	(211,276)
		Amounts reclassified from accumulated other
			comprehensive loss for amortization
			of net losses		3,421		3,348		10,263		10,041
		Amounts reclassified from accumulated other
			comprehensive loss for amortization
			of prior service credit		(580)		(580)		(1,740)		(1,740)
		Net change			2,841		2,768		8,523		8,301
		Ending balance		$	(203,087)	$	(202,975)	$	(203,087)	$	(202,975)
Unrealized holding gains
	(losses) on investments	Beginning Balance		$	(55,742)	$	98,761	$	(68,318)	$	(9,560)
		Other comprehensive income (loss) before
			reclassifications		9,350		(14,131)		15,331		94,023
		Other-than-temporary impairment amount reclassified
			from accumulated other comprehensive (loss) income		-		-		6,740		167
		Amounts reclassified from accumulated other
			comprehensive (loss) income for gains on securities		(82)		(316)		(227)		(316)
		Net change			9,268		(14,447)		21,844		93,874
		Ending balance		$	(46,474)	$	84,314	$	(46,474)	$	84,314
Unrealized net losses
	on cash flow hedges	Beginning Balance		$	132	$	(560)	$	(402)	$	(120)
		Other comprehensive loss before
			reclassifications		(250)		(685)		(869)		(2,843)
		Amounts reclassified from accumulated other
			comprehensive income (loss)		142		1,006		1,295		2,724
		Net change			(108)		321		426		(119)
		Ending balance		$	24	$	(239)	$	24	$	(239)
		Total		$	(291,332)	$	(157,295)	$	(291,332)	$	(157,295)
[1] All amounts presented are net of tax.

The following table presents the amounts reclassified out of each component of accumulated other comprehensive loss during the quarters and nine months ended September 30,2017 and2016.

		Reclassifications Out of Accumulated Other Comprehensive Loss
				Quarters ended				Nine months ended
		Affected Line Item in the		September 30,				September 30,
(In thousands)		Consolidated Statements of Operations			2017		2016		2017		2016
Adjustment of pension and postretirement benefit plans
	Amortization of net losses	Personnel costs		$	(5,606)	$	(5,488)	$	(16,819)	$	(16,461)
	Amortization of prior service credit	Personnel costs			950		950		2,850		2,850
		Total before tax			(4,656)		(4,538)		(13,969)		(13,611)
		Income tax benefit			1,815		1,770		5,446		5,310
		Total net of tax		$	(2,841)	$	(2,768)	$	(8,523)	$	(8,301)
Unrealized holding gains (losses) on investments
	Other-than-temporary impairment	Other-than-temporary impairment losses on
			available-for-sale debt securities	$	-	$	-	$	(8,299)	$	(209)
	Realized gains on sale of securities	Net gain on sale of
			investment securities		103		349		284		349
		Total before tax			103		349		(8,015)		140
		Income tax (expense) benefit			(21)		(33)		1,502		9
		Total net of tax		$	82	$	316	$	(6,513)	$	149
Unrealized net losses on cash flow hedges
	Forward contracts	Mortgage banking activities		$	(232)	$	(1,650)	$	(2,122)	$	(4,466)
		Total before tax			(232)		(1,650)		(2,122)		(4,466)
		Income tax benefit			90		644		827		1,742
		Total net of tax		$	(142)	$	(1,006)	$	(1,295)	$	(2,724)
		Total reclassification adjustments, net of tax		$	(2,901)	$	(3,458)	$	(16,331)	$	(10,876)