Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2015

Stockholders' Equity

Components of basic and diluted earnings per share

	2015		2014		2013
	(in thousands, except per share amounts)
Net income	$	245,536		313,331		252,998
Weighted average shares outstanding, basic and diluted		83,499		84,485		85,589
Earnings per share, basic and diluted	$	2.94		3.71		2.96

Summary of other comprehensive income (loss) activity

Year ended December 31, 2015	Unrealized (gains) losses on investment securities		Change in valuation allowance for unrealized gains (losses) on investment securities		Pension and postretirement benefits		Total accumulated other comprehensive income (loss)
	(in thousands)
Balance at December 31, 2014	$	(727)		(1,471)		(48,245)		(50,443)
Other comprehensive loss before reclassification		(2,464)		(1,463)		(9,897)		(13,824)
Amount reclassified from accumulated other comprehensive income		(538)		(306)		3,606		2,762
Net current period other comprehensive loss		(3,002)		(1,769)		(6,291)		(11,062)
Balance at December 31, 2015	$	(3,729)	$	(3,240)		(54,536)		(61,505)

Year ended December 31, 2014	Unrealized (gains) losses on investment securities		Change in valuation allowance for unrealized gains (losses) on investment securities		Pension and postretirement benefits		Total accumulated other comprehensive income (loss)
	(in thousands)
Balance at December 31, 2013	$	3,150		810		(19,819)		(15,859)
Other comprehensive loss before reclassification		(636)		(381)		(29,689)		(30,706)
Amount reclassified from accumulated other comprehensive income		(3,241)		(1,900)		1,263		(3,878)
Net current period other comprehensive loss		(3,877)		(2,281)		(28,426)		(34,584)
Balance at December 31, 2014	$	(727)	$	(1,471)		(48,245)		(50,443)

Summary of reclassifications from accumulated other comprehensive income (loss) and included in net income

	For the year ended December 31, 2015
	Pre-tax		Tax (expense) benefit		Net of tax		Statement of income line item
	(in thousands)
Reclassifications included in net income:
Sponsored funds investment gains	$	850		(312)		538	Investment and other income (loss)
Valuation allowance		—		306		306	Provision for income taxes
Amortization of pension and postretirement benefits		(5,654)		2,048		(3,606)	Underwriting and distribution expense and Compensation and related costs
Total	$	(4,804)		2,042		(2,762)

	For the year ended December 31, 2014
	Pre-tax		Tax (expense) benefit		Net of tax		Statement of income line item
	(in thousands)
Reclassifications included in net income:
Realized gain on sale of sponsored investment securities	$	5,146		(1,905)		3,241	Investment and other income (loss)
Valuation allowance		—		1,900		1,900	Provision for income taxes
Amortization of pension and postretirement benefits		(2,007)		744		(1,263)	Underwriting and distribution expense and Compensation and related costs
Total	$	3,139		739		3,878