Other comprehensive (loss) income (Tables)

9 Months Ended

Sep. 30, 2023

Accumulated Other Comprehensive Income (Loss)

Schedule of accumulated other comprehensive income

Changes in Accumulated Other Comprehensive Loss by Component [1]

Quarters ended

Nine months ended

September 30,

September 30,

(In thousands)

2023

2022

2023

2022

Foreign currency translation

Beginning Balance

$

(55,979)

$

(64,167)

$

(56,735)

$

(67,307)

Other comprehensive (loss) income

(976)

7,206

(220)

10,346

Net change

(976)

7,206

(220)

10,346

Ending balance

$

(56,955)

$

(56,961)

$

(56,955)

$

(56,961)

Adjustment of pension and

postretirement benefit plans

Beginning Balance

$

(138,319)

$

(152,837)

$

(144,335)

$

(158,994)

Other comprehensive income before reclassifications

-

-

-

1,269

Amounts reclassified from accumulated other

comprehensive loss for amortization of net losses

3,009

2,444

9,025

7,332

Net change

3,009

2,444

9,025

8,601

Ending balance

$

(135,310)

$

(150,393)

$

(135,310)

$

(150,393)

Unrealized net holding losses

on debt securities

Beginning Balance

$

(2,134,137)

$

(1,735,370)

$

(2,323,903)

$

(96,120)

Other comprehensive loss

(242,567)

(781,898)

(120,756)

(2,421,148)

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

35,027

-

102,982

-

Net change

(207,540)

(781,898)

(17,774)

(2,421,148)

Ending balance

$

(2,341,677)

$

(2,517,268)

$

(2,341,677)

$

(2,517,268)

Unrealized net (losses) gains

on cash flow hedges

Beginning Balance

$

-

$

(642)

$

45

$

(2,648)

Other comprehensive (loss) income before

reclassifications

-

415

(19)

3,222

Amounts reclassified from accumulated other

comprehensive income (loss)

-

518

(26)

(283)

Net change

-

933

(45)

2,939

Ending balance

$

-

$

291

$

-

$

291

Total 

$

(2,533,942)

$

(2,724,331)

$

(2,533,942)

$

(2,724,331)

[1] 

All amounts presented are net of tax.

Reclassification out of accumulated other comprehensive income

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

2023

2022

2023

2022

Adjustment of pension and postretirement benefit plans

Amortization of net losses

Other operating expenses

$

(4,814)

$

(3,911)

$

(14,440)

$

(11,733)

Total before tax

(4,814)

(3,911)

(14,440)

(11,733)

Income tax benefit

1,805

1,467

5,415

4,401

Total net of tax

$

(3,009)

$

(2,444)

$

(9,025)

$

(7,332)

Unrealized net holding losses on debt securities

Amortization of unrealized net losses of debt

securities transferred to held-to-maturity

Interest income from investment securities

$

(43,783)

$

-

$

(128,726)

$

-

Total before tax

(43,783)

-

(128,726)

-

Income tax expense

8,756

-

25,744

-

Total net of tax

$

(35,027)

$

-

$

(102,982)

$

-

Unrealized net (losses) gains on cash flow hedges

Forward contracts

Mortgage banking activities

$

-

$

(609)

$

41

$

1,249

Interest rate swaps

Other operating income

-

(219)

-

(498)

Total before tax

-

(828)

41

751

Income tax benefit

-

310

(15)

(468)

Total net of tax

$

-

$

(518)

$

26

$

283

Total reclassification adjustments, net of tax

$

(38,036)

$

(2,962)

$

(111,981)

$

(7,049)