XML 11 R25.htm IDEA: XBRL DOCUMENT v3.19.3
Other Comprehensive Income (Loss)
 9 Months Ended
Sep. 30, 2019
Statement of Comprehensive Income [Abstract]  
Other Comprehensive Income (Loss) Accumulated Other Comprehensive Loss

Other comprehensive income (loss) components, net of income tax, are shown in the following table for the three-month and nine-month periods ended September 30, 2019 and 2018:


(in thousands)
 
Changes in pension plan assets and benefit obligations
 
Unrealized net holding loss on cash flow hedge
 
Unrealized gains (losses) on AFS debt securities
 
Total
Beginning balance at July 1, 2019
 
$
(29,672
)
 
$
(507
)
 
$
3,872

 
$
(26,307
)
 
Other comprehensive (loss) income before reclassifications (1)
 
—

 
(49
)
 
13,889

 
13,840

 
Amounts reclassified from accumulated other comprehensive loss
 
—

 
—

 
(147
)
 
(147
)
Net current period other comprehensive (loss) income
 
—

 
(49
)
 
13,742

 
13,693

Ending balance at September 30, 2019
 
$
(29,672
)
 
$
(556
)
 
$
17,614

 
$
(12,614
)
 
 
 
 
 
 
 
 
 
 
Beginning balance at July 1, 2018
 
$
(26,701
)
 
$
—

 
$
(28,308
)
 
$
(55,009
)
 
Other comprehensive loss before reclassifications
 
—

 
—

 
(5,141
)
 
(5,141
)
Net current period other comprehensive loss
 
—

 
—

 
(5,141
)
 
(5,141
)
Ending balance at September 30, 2018
 
$
(26,701
)
 
$
—

 
$
(33,449
)
 
$
(60,150
)

(in thousands)
 
Changes in pension plan assets and benefit obligations
 
Unrealized net holding loss on cash flow hedge
 
Unrealized gains (losses) on AFS debt securities
 
Total
Beginning balance at January 1, 2019
 
$
(29,672
)
 
$
—

 
$
(20,116
)
 
$
(49,788
)
 
Other comprehensive (loss) income before reclassifications (1)
 
—

 
(556
)
 
37,397

 
36,841

 
Amounts reclassified from accumulated other comprehensive loss
 
—

 
—

 
333

 
333

Net current period other comprehensive (loss) income
 
—

 
(556
)
 
37,730

 
37,174

Ending balance at September 30, 2019
 
$
(29,672
)
 
$
(556
)
 
$
17,614

 
$
(12,614
)
 
 
 
 
 
 
 
 
 
 
Beginning balance at January 1, 2018, as previously presented
 
$
(23,526
)
 
$
—

 
$
(2,928
)
 
$
(26,454
)
 
Cumulative effect of change in accounting principle for marketable equity securities, net of tax
 
—

 
—

 
(995
)
 
(995
)
Beginning balance at January 1, 2018, as adjusted
 
(23,526
)
 
—

 
(3,923
)
 
(27,449
)
 
Reclassification of disproportionate income tax effects
 
(3,175
)
 
—

 
(631
)
 
(3,806
)
Net current period activity
 
 
 
 
 
 
 
 
 
Other comprehensive loss before reclassifications
 
—

 
—

 
(30,919
)
 
(30,919
)
 
Amounts reclassified from accumulated other comprehensive loss
 
—

 
—

 
2,024

 
2,024

Net current period other comprehensive loss
 
—

 
—

 
(28,895
)
 
(28,895
)
Ending balance at September 30, 2018
 
$
(26,701
)
 
$
—

 
$
(33,449
)
 
$
(60,150
)
(1) During the three-month and nine-month periods ended September 30, 2019, Park transferred HTM securities with a fair value of $373.9 million to AFS classification. The transfer occurred at fair value and had a related unrealized gain of $24.2 million ($19.1 million net of taxes), recorded in other comprehensive income.

During the three-month period ended September 30, 2019, there was $186,000 ($147,000 net of tax) reclassified out of accumulated other comprehensive loss due to net gains on the sale of AFS debt securities. During the nine-month period ended September 30, 2019, there was $421,000 ($333,000 net of tax) reclassified out of accumulated other comprehensive loss due to net losses on the sale of AFS debt securities. During the nine-month period ended September 30, 2018, there was $2.6 million ($2.0 million net of tax) reclassified out of accumulated other comprehensive loss due to net losses on the sale of AFS debt securities. All of these losses were recorded within "net gain (loss) on the sale of investment securities" on the consolidated condensed statements of income. During the three-month period ended September 30, 2018, there were no reclassifications out of accumulated other comprehensive loss.