Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Accumulated Other Comprehensive Income (Loss)

12.     Accumulated Other Comprehensive Income (Loss):

The following tables set forth the changes in accumulated other comprehensive income (loss) by component for the periods indicated:

	For the three months ended March 31, 2024
	Unrealized Gains (Losses) on						Fair Value
	Available for Sale		Cash flow		Defined Benefit		Option Elected
	Securities		Hedges		Pension Items		on Liabilities		Total
	(In thousands)
Beginning balance, net of tax	$	(54,744)	$	14,796	$	(381)	$	1,678	$	(38,651)
Other comprehensive income (loss) before reclassifications, net of tax		(172)		7,831		—		(31)		7,628
Amounts reclassified from accumulated other comprehensive income (loss), net of tax		—		(4,730)		(63)		—		(4,793)
Net current period other comprehensive income (loss), net of tax		(172)		3,101		(63)		(31)		2,835
Ending balance, net of tax	$	(54,916)	$	17,897	$	(444)	$	1,647	$	(35,816)

	For the three months ended March 31, 2023
	Unrealized Gains (Losses) on						Fair Value
	Available for Sale		Cash flow		Defined Benefit		Option Elected
	Securities		Hedges		Pension Items		on Liabilities		Total
	(In thousands)
Beginning balance, net of tax	$	(63,106)	$	25,380	$	(275)	$	1,513	$	(36,488)
Other comprehensive income (loss) before reclassifications, net of tax		3,987		(2,180)		—		(74)		1,733
Amounts reclassified from accumulated other comprehensive income (loss), net of tax		—		(2,960)		(69)		—		(3,029)
Net current period other comprehensive income (loss), net of tax		3,987		(5,140)		(69)		(74)		(1,296)
Ending balance, net of tax	$	(59,119)	$	20,240	$	(344)	$	1,439	$	(37,784)

The following tables set forth significant amounts reclassified from accumulated other comprehensive income (loss) by component for the periods indicated:

For the three months ended March 31, 2024
	Amounts Reclassified from
Details about Accumulated Other	Accumulated Other			Affected Line Item in the Statement
Comprehensive Income (Loss) Components	Comprehensive Income (Loss)			Where Net Income is Presented
		(In thousands)
Cash flow hedges:
Interest rate swaps benefit (expense)	$	6,862		Interest expense
		(2,132)		Provision for income taxes
	$	4,730
Amortization of defined benefit pension items:
Actuarial losses benefit (expense)	$	92	(1)	Other operating expenses
		(29)		Provision for income taxes
	$	63

For the three months ended March 31, 2023
	Amounts Reclassified from
Details about Accumulated Other	Accumulated Other			Affected Line Item in the Statement
Comprehensive Income (Loss) Components	Comprehensive Income (Loss)			Where Net Income is Presented
		(In thousands)
Cash flow hedges:
Interest rate swaps benefit (expense)	$	4,288		Interest expense
		(1,328)		Provision for income taxes
	$	2,960
Amortization of defined benefit pension items:
Actuarial losses benefit (expense)	$	100	(1)	Other operating expenses
		(31)		Provision for income taxes
	$	69

(1) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost. See Note 9 (“Pension and Other Postretirement Benefit Plans”) of the Notes to the Consolidated Financial Statements for additional information.