XML 68 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6
Shareholders' Equity
 9 Months Ended
Sep. 30, 2012
Stockholders' Equity Note [Abstract]  
Shareholders' Equity
Shareholders’ Equity

On October 30, 2012, the Board of Directors of BOK Financial approved a quarterly cash dividend of $0.38 per common share. The quarterly dividend will be payable on or about November 30, 2012 to shareholders of record as of November 16, 2012. In addition, on October 30, 2012, the Board of Directors approved a special cash dividend of $1.00 per common share payable on or about November 30, 2012 to shareholders of record as of November 16, 2012.

Dividends declared during the three and nine months ended September 30, 2012 were $0.38 per share and $1.09 per share, respectively. Dividends declared during the three and nine months ended September 30, 2011 were $0.275 per share and $0.800 per share, respectively.

Accumulated Other Comprehensive Income (Loss)

AOCI includes unrealized gains and losses on available for sale ("AFS") securities. Unrealized gain (loss) on AFS securities also includes non-credit related unrealized losses on AFS securities for which an other-than-temporary impairment has been recorded in earnings. AOCI also includes unrealized gains on AFS securities that were transferred from AFS to investment securities in the third quarter of 2011. Such amounts will be amortized over the estimated remaining life of the security as an adjustment to yield, offsetting the related accretion of discount on the transferred securities.  Unrealized losses on employee benefit plans will be reclassified into income as pension plan costs are recognized over the remaining service period of plan participants. Accumulated losses on the interest rate lock hedge of the 2005 subordinated debt issuance will be reclassified into income over the ten-year life of the debt. Gains and losses in AOCI are net of deferred income taxes.

A rollforward of the components of accumulated other comprehensive income (loss) is included as follows (in thousands):
 
 
Unrealized Gain (Loss) on
 
 
 
 
 
 
Available for Sale Securities
 
Investment Securities Transferred from AFS
 
Employee Benefit Plans
 
Loss on Effective Cash Flow Hedges
 
Total
Balance, December 31, 2010
 
$
122,494

 
$
—

 
$
(13,777
)
 
$
(878
)
 
$
107,839

Net change in unrealized gains (losses)
 
97,753

 
—

 
—

 
—

 
97,753

Other-than-temporary impairment losses recognized in earnings
 
20,723

 
—

 
—

 
—

 
20,723

Transfer of net unrealized gain from AFS to investment securities
 
(12,999
)
 
12,999

 
—

 
—

 
—

Reclassification adjustment for net (gains) losses realized and included in earnings
 
(27,064
)
 
—

 
—

 
230

 
(26,834
)
Income tax expense (benefit)
 
(30,764
)
 
(5,057
)
 
—

 
(89
)
 
(35,910
)
Balance, September 30, 2011
 
$
170,143

 
$
7,942

 
$
(13,777
)
 
$
(737
)
 
$
163,571

 
 
 
 
 
 
 
 
 
 
 
Balance, December 31, 2011
 
$
135,740

 
$
6,673

 
$
(12,742
)
 
$
(692
)
 
$
128,979

Net change in unrealized gains (losses)
 
86,390

 
—

 
(292
)
 
—

 
86,098

Other-than-temporary impairment losses recognized in earnings
 
5,684

 
—

 
—

 
—

 
5,684

Amortization of unrealized gain on investments securities transferred from AFS
 
—

 
(5,430
)
 
—

 
—

 
(5,430
)
Reclassification adjustment for net(gains) losses realized and included in earnings
 
(32,779
)
 
—

 
—

 
399

 
(32,380
)
Income tax benefit (expense)
 
(23,066
)
 
2,550

 
113

 
(155
)
 
(20,558
)
Balance, September 30, 2012
 
$
171,969

 
$
3,793

 
$
(12,921
)
 
$
(448
)
 
$
162,393