Other comprehensive (loss) income

3 Months Ended

Mar. 31, 2023

Disclosure Of Change In Accumulated Other Comprehensive Income Loss [Abstract]

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,

2023 and 2022.

Changes in Accumulated Other Comprehensive Loss by Component [1]

Quarters ended March 31,

(In thousands)

2023

2022

Foreign currency translation

Beginning Balance

$

(56,735)

$

(67,307)

Other comprehensive loss

(5,245)

(2,858)

Net change

(5,245)

(2,858)

Ending balance

$

(61,980)

$

(70,165)

Adjustment of pension and

postretirement benefit plans

Beginning Balance

$

(144,335)

$

(158,994)

Other comprehensive loss before reclassifications

-

1,269

Amounts reclassified from accumulated other comprehensive loss for

amortization of net losses

3,008

2,444

Net change

3,008

3,713

Ending balance

$

(141,327)

$

(155,281)

Unrealized net holding losses on

debt securities

Beginning Balance

$

(2,323,903)

$

(96,120)

Other comprehensive income (loss) before reclasifications

191,752

(1,075,830)

Amounts reclassified from accumulated other comprehensive loss for

amortization of net unrealized losses of debt securities transferred from

available-for-sale to held-to-maturity

33,633

-

Net change

225,385

(1,075,830)

Ending balance

$

(2,098,518)

$

(1,171,950)

Unrealized net gains on cash

flow hedges

Beginning Balance

$

45

$

(2,648)

Other comprehensive (loss) income before reclassifications

(19)

3,139

Amounts reclassified from accumulated other comprehensive gains

(26)

(333)

Net change

(45)

2,806

Ending balance

$

-

$

158

Total 

$

(2,301,825)

$

(1,397,238)

[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 ended March 31, 2023 and 2022.

Reclassifications Out of Accumulated Other Comprehensive Loss

Affected Line Item in the 

Quarters ended March 31,

(In thousands)

Consolidated Statements of Operations

2023

2022

Adjustment of pension and postretirement benefit plans

Amortization of net losses

Other operating expenses

$

(4,813)

$

(3,911)

Total before tax

(4,813)

(3,911)

Income tax benefit

1,805

1,467

Total net of tax

$

(3,008)

$

(2,444)

Unrealized holding losses on debts securities

Amortization of unrealized net losses of debt

securities transferred to held-to-maturity

Investment securities

$

(42,040)

$

-

Total before tax

(42,040)

-

Income tax benefit

8,407

-

Total net of tax

$

(33,633)

$

-

Unrealized net gains on cash flow hedges

Forward contracts

Mortgage banking activities

$

41

$

978

Interest rate swaps

Other operating income

$

-

$

(279)

Total before tax

41

699

Income tax expense

(15)

(366)

Total net of tax

$

26

$

333

Total reclassification adjustments, net of tax

$

(36,615)

$

(2,111)