Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2022

Statement of Comprehensive Income [Abstract]

Accumulated Other Comprehensive (Loss) Income

Other comprehensive (loss) income components, net of tax, are shown in the following table for the three-month and the nine-month periods ended September 30, 2022 and 2021:


(in thousands)		Changes in pension plan assets and benefit obligations		Unrealized net holding (loss) gain on cash flow hedge		Unrealized (losses) gains on debt securities AFS		Total
Beginning balance at July 1, 2022		$	(5,792)	$	—	$	(79,612)	$	(85,404)
	Other comprehensive loss before reclassifications	—		—		(39,939)		(39,939)
Net current period other comprehensive loss		—		—		(39,939)		(39,939)
Ending balance at September 30, 2022		$	(5,792)	$	—	$	(119,551)	$	(125,343)

Beginning balance at July 1, 2021		$	(34,421)	$	(460)	$	31,951	$	(2,930)
	Other comprehensive income (loss) before reclassifications	—		117		(4,997)		(4,880)
Net current period other comprehensive income (loss)		—		117		(4,997)		(4,880)
Ending balance at September 30, 2021		$	(34,421)	$	(343)	$	26,954	$	(7,810)


(in thousands)		Changes in pension plan assets and benefit obligations		Unrealized net holding (loss) gain on cash flow hedge		Unrealized gains (losses) on debt securities AFS		Total
Beginning balance at January 1, 2022		$	(5,792)	$	(206)	$	21,153	$	15,155
	Other comprehensive income (loss) before reclassifications	—		154		(140,704)		(140,550)
	Amounts reclassified from other comprehensive loss	—		52		—		52
Net current period other comprehensive income (loss)		—		206		(140,704)		(140,498)
Ending balance at September 30, 2022		$	(5,792)	$	—	$	(119,551)	$	(125,343)

Beginning balance at January 1, 2021		$	(34,421)	$	(698)	$	40,690	$	5,571
	Other comprehensive income (loss) before reclassifications	—		355		(13,736)		(13,381)
Net current period other comprehensive income (loss)		—		355		(13,736)		(13,381)
Ending balance at September 30, 2021		$	(34,421)	$	(343)	$	26,954	$	(7,810)

During the nine-month period ended September 30, 2022, there was $66,000 ($52,000 net of tax) reclassified out of accumulated other comprehensive loss due to a net loss on the early termination of a borrowing interest rate swap. This loss was recorded within "Miscellaneous" other expense on the Consolidated Condensed Statements of Income. During the three-month period ended September 30, 2022, there were no reclassifications out of accumulated other comprehensive (loss) income. During the three-month and the nine-month periods ended September 30, 2021, there were no reclassifications out of accumulated other comprehensive (loss) income.