Other comprehensive income (loss)

3 Months Ended

Mar. 31, 2019

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 31,2019 and 2018.

		Changes in Accumulated Other Comprehensive Loss by Component [1]
				Quarters ended March 31,
(In thousands)				2019		2018
Foreign currency translation		Beginning Balance		$	(49,936)	$	(43,034)
		Other comprehensive (loss) income			(1,238)		93
		Net change			(1,238)		93
		Ending balance		$	(51,174)	$	(42,941)
Adjustment of pension and
	postretirement benefit plans	Beginning Balance		$	(203,836)	$	(205,408)
		Amounts reclassified from accumulated other
			comprehensive loss for amortization
			of net losses		3,673		3,285
		Amounts reclassified from accumulated other
			comprehensive loss for amortization
			of prior service credit		-		(529)
		Net change			3,673		2,756
		Ending balance		$	(200,163)	$	(202,652)
Unrealized net holding
	losses on debt securities	Beginning Balance		$	(173,811)	$	(102,775)
		Other comprehensive income (loss)			101,403		(114,404)
		Net change			101,403		(114,404)
		Ending balance		$	(72,408)	$	(217,179)
Unrealized holding gains
	on equity securities	Beginning Balance		$	-	$	605
		Reclassification to retained earnings due to
			cumulative effect adjustment of accounting change		-		(605)
		Net change			-		(605)
		Ending balance		$	-	$	-
Unrealized net losses
	on cash flow hedges	Beginning Balance		$	(391)	$	(40)
		Reclassification to retained earnings due to
			cumulative effect adjustment of accounting change		(50)		-
		Other comprehensive (loss) income before
			reclassifications		(437)		747
		Amounts reclassified from accumulated other
			comprehensive loss		644		(773)
		Net change			157		(26)
		Ending balance		$	(234)	$	(66)
		Total		$	(323,979)	$	(462,838)
[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 31,2019 and 2018.

		Reclassifications Out of Accumulated Other Comprehensive Loss
		Affected Line Item in the	Quarters ended March 31,
(In thousands)		Consolidated Statements of Operations	2019		2018
Adjustment of pension and postretirement benefit plans
	Amortization of net losses	Personnel costs	$	(5,876)	$	(5,386)
	Amortization of prior service credit	Personnel costs		-		867
		Total before tax		(5,876)		(4,519)
		Income tax benefit		2,203		1,763
		Total net of tax	$	(3,673)	$	(2,756)
Unrealized net losses on cash flow hedges
	Forward contracts	Mortgage banking activities	$	(1,030)	$	1,267
		Total before tax		(1,030)		1,267
		Income tax benefit (expense)		386		(494)
		Total net of tax	$	(644)	$	773
		Total reclassification adjustments, net of tax	$	(4,317)	$	(1,983)