Other comprehensive income (loss)

6 Months Ended

Jun. 30, 2018

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 and six months ended June 30,2018 and 2017.

		Changes in Accumulated Other Comprehensive Loss by Component [1]
				Quarters ended				Six months ended
				June 30,				June 30,
(In thousands)					2018		2017		2018		2017
Foreign currency translation		Beginning Balance		$	(42,941)	$	(39,817)	$	(43,034)	$	(39,956)
		Other comprehensive loss			(3,456)		(1,588)		(3,363)		(1,449)
		Net change			(3,456)		(1,588)		(3,363)		(1,449)
		Ending balance		$	(46,397)	$	(41,405)	$	(46,397)	$	(41,405)
Adjustment of pension and
	postretirement benefit plans	Beginning Balance		$	(202,652)	$	(208,769)	$	(205,408)	$	(211,610)
		Amounts reclassified from accumulated other
			comprehensive loss for amortization
			of net losses		3,286		3,421		6,571		6,842
		Amounts reclassified from accumulated other
			comprehensive loss for amortization
			of prior service credit		(529)		(580)		(1,058)		(1,160)
		Net change			2,757		2,841		5,513		5,682
		Ending balance		$	(199,895)	$	(205,928)	$	(199,895)	$	(205,928)
Unrealized net holding losses
	on debt securities	Beginning Balance		$	(217,179)	$	(71,707)	$	(102,775)	$	(69,003)
		Other comprehensive (loss) income before
			reclassifications		(33,243)		8,553		(147,647)		5,849
		Other-than-temporary impairment amount reclassified
			from accumulated other comprehensive loss		-		6,740		-		6,740
		Net change			(33,243)		15,293		(147,647)		12,589
		Ending balance		$	(250,422)	$	(56,414)	$	(250,422)	$	(56,414)
Unrealized holding gains
	on equity securities	Beginning Balance		$	-	$	650	$	605	$	685
		Reclassification to retained earnings due to cumulative
			effect adjustment of accounting change		-		-		(605)		-
		Other comprehensive income before
			reclassifications		-		37		-		132
		Amounts reclassified from accumulated other
			comprehensive income for gains on securities		-		(15)		-		(145)
		Net change			-		22		(605)		(13)
		Ending balance		$	-	$	672	$	-	$	672
Unrealized net (losses) gains
	on cash flow hedges	Beginning Balance		$	(66)	$	(269)	$	(40)	$	(402)
		Other comprehensive (loss) income before
			reclassifications		(165)		(230)		582		(619)
		Amounts reclassified from accumulated other
			comprehensive (loss) income		153		631		(620)		1,153
		Net change			(12)		401		(38)		534
		Ending balance		$	(78)	$	132	$	(78)	$	132
		Total		$	(496,792)	$	(302,943)	$	(496,792)	$	(302,943)
[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 six months ended June 30,2018 and2017.

		Reclassifications Out of Accumulated Other Comprehensive Loss
				Quarters ended				Six months ended
		Affected Line Item in the		June 30,				June 30,
(In thousands)		Consolidated Statements of Operations			2018		2017		2018		2017
Adjustment of pension and postretirement benefit plans
	Amortization of net losses	Personnel costs		$	(5,385)	$	(5,606)	$	(10,771)	$	(11,213)
	Amortization of prior service credit	Personnel costs			868		950		1,735		1,900
		Total before tax			(4,517)		(4,656)		(9,036)		(9,313)
		Income tax benefit			1,760		1,815		3,523		3,631
		Total net of tax		$	(2,757)	$	(2,841)	$	(5,513)	$	(5,682)
Unrealized holding losses on debt securities
	Other-than-temporary impairment	Other-than-temporary impairment losses on
			available-for-sale debt securities	$	-	$	(8,299)	$	-	$	(8,299)
		Total before tax			-		(8,299)		-		(8,299)
		Income tax benefit			-		1,559		-		1,559
		Total net of tax		$	-	$	(6,740)	$	-	$	(6,740)
Unrealized holding gains on equity securities
	Realized gain on sale of equity securities	Net gain on equity securities		$	-	$	19	$	-	$	181
		Total before tax			-		19		-		181
		Income tax expense			-		(4)		-		(36)
		Total net of tax		$	-	$	15	$	-	$	145
Unrealized net (losses) gains on cash flow hedges
	Forward contracts	Mortgage banking activities		$	(250)	$	(1,035)	$	1,017	$	(1,890)
		Total before tax			(250)		(1,035)		1,017		(1,890)
		Income tax benefit (expense)			97		404		(397)		737
		Total net of tax		$	(153)	$	(631)	$	620	$	(1,153)
		Total reclassification adjustments, net of tax		$	(2,910)	$	(10,197)	$	(4,893)	$	(13,430)