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Other comprehensive (loss) income (Tables)
6 Months Ended
Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss)  
Schedule of accumulated other comprehensive income

 

 

Changes in Accumulated Other Comprehensive Loss by Component [1]

 

 

 

 

Quarters ended

Six months ended

 

 

 

June 30,

June 30,

(In thousands)

 

 

2022

 

2021

 

2022

 

2021

Foreign currency translation

Beginning Balance

$

(70,165)

$

(70,685)

$

(67,307)

$

(71,254)

 

 

Other comprehensive income

 

5,998

 

2,726

 

3,140

 

3,295

 

 

Net change

 

5,998

 

2,726

 

3,140

 

3,295

 

 

Ending balance

$

(64,167)

$

(67,959)

$

(64,167)

$

(67,959)

Adjustment of pension and postretirement benefit plans

Beginning Balance

$

(155,281)

$

(191,814)

$

(158,994)

$

(195,056)

 

 

Other comprehensive income before reclassifications

 

-

 

-

 

1,269

 

-

 

 

Amounts reclassified from accumulated other comprehensive loss for amortization of net losses

 

2,444

 

3,242

 

4,888

 

6,484

 

 

Net change

 

2,444

 

3,242

 

6,157

 

6,484

 

 

Ending balance

$

(152,837)

$

(188,572)

$

(152,837)

$

(188,572)

Unrealized net holding (losses) gains on debt securities

Beginning Balance

$

(1,171,950)

$

90,955

$

(96,120)

$

460,900

 

 

Other comprehensive (loss) income

 

(563,420)

 

73,027

 

(1,639,250)

 

(296,918)

 

 

Net change

 

(563,420)

 

73,027

 

(1,639,250)

 

(296,918)

 

 

Ending balance

$

(1,735,370)

$

163,982

$

(1,735,370)

$

163,982

Unrealized net losses on cash flow hedges

Beginning Balance

$

158

$

(3,194)

$

(2,648)

$

(4,599)

 

 

Other comprehensive (loss) income before reclassifications

 

(332)

 

(230)

 

2,807

 

1,127

 

 

Amounts reclassified from accumulated other comprehensive loss

 

(468)

 

282

 

(801)

 

330

 

 

Net change

 

(800)

 

52

 

2,006

 

1,457

 

 

Ending balance

$

(642)

$

(3,142)

$

(642)

$

(3,142)

 

 

Total

$

(1,953,016)

$

(95,691)

$

(1,953,016)

$

(95,691)

[1]

All amounts presented are net of tax.

 

 

 

 

 

 

 

 

Reclassification out of accumulated other comprehensive income

 

 

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

 

2022

 

2021

 

2022

 

2021

Adjustment of pension and postretirement benefit plans

 

 

 

 

 

 

 

 

 

 

Amortization of net losses

Other operating expenses

$

(3,911)

$

(5,189)

$

(7,822)

$

(10,379)

 

 

Total before tax

 

(3,911)

 

(5,189)

 

(7,822)

 

(10,379)

 

 

Income tax benefit

 

1,467

 

1,947

 

2,934

 

3,895

 

 

Total net of tax

$

(2,444)

$

(3,242)

$

(4,888)

$

(6,484)

Unrealized net losses on cash flow hedges

 

 

 

 

 

 

 

 

 

 

Forward contracts

Mortgage banking activities

$

1,099

$

2

$

2,077

$

348

 

Interest rate swaps

Other operating income

 

(219)

 

(282)

 

(498)

 

(537)

 

 

Total before tax

 

880

 

(280)

 

1,579

 

(189)

 

 

Income tax benefit

 

(412)

 

(2)

 

(778)

 

(141)

 

 

Total net of tax

$

468

$

(282)

$

801

$

(330)

 

 

Total reclassification adjustments, net of tax

$

(1,976)

$

(3,524)

$

(4,087)

$

(6,814)