Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Accumulated Other Comprehensive Loss

The following is a summary of the changes in the components of accumulated other comprehensive income loss ("AOCL"), which are included in People’s United’s stockholders’ equity on an after-tax basis:


(in millions)	Pension and Other Postretirement Plans		Net Unrealized Gains (Losses) on Debt Securities Available-for-Sale		Net Unrealized Gains (Losses) on Debt Securities Transferred to Held-to-Maturity		Net Unrealized Gains (Losses) on Derivatives Accounted for as Cash Flow Hedges		Total AOCL
Balance at December 31, 2019	$	(176.2)	$	20.8	$	(11.8)	$	0.3	$	(166.9)
Other comprehensive income before reclassifications	—		71.6		—		—		71.6
Amounts reclassified from AOCL (1)	1.6		—		1.0		—		2.6
Current period other comprehensive income	1.6		71.6		1.0		—		74.2

Balance at March 31, 2020	$	(174.6)	$	92.4	$	(10.8)	$	0.3	$	(92.7)


(in millions)	Pension and Other Postretirement Plans		Net Unrealized Gains (Losses) on Debt Securities Available-for-Sale		Net Unrealized Gains (Losses) on Debt Securities Transferred to Held-to-Maturity		Net Unrealized Gains (Losses) on Derivatives Accounted for as Cash Flow Hedges		Total AOCL
Balance at December 31, 2018	$	(192.5)	$	(47.0)	$	(15.3)	$	(2.0)	$	(256.8)
Other comprehensive income before reclassifications	—		29.0		—		0.5		29.5
Amounts reclassified from AOCL (1)	1.8		—		0.6		0.3		2.7
Current period other comprehensive income	1.8		29.0		0.6		0.8		32.2

Balance at March 31, 2019	$	(190.7)	$	(18.0)	$	(14.7)	$	(1.2)	$	(224.6)

(1)See the following table for details about these reclassifications.

Summary of Amounts Reclassified from AOCL

The following is a summary of the amounts reclassified from AOCL:


	Amounts Reclassified from AOCL					Affected Line Item in the Statement Where Net Income is Presented
	Three Months Ended March 31,
(in millions)	2020		2019
Details about components of AOCL:
Amortization of pension and other postretirement plans items:
Net actuarial loss	$	(2.0)	$	(1.3)	(1)

	(2.0)		(1.3)		Income before income tax expense
	0.4		(0.5)		Income tax expense
	(1.6)		(1.8)		Net income
Reclassification adjustment for net realized gains (losses) on debt securities available-for-sale	—		—		Income before income tax expense (2)
	—		—		Income tax expense
	—		—		Net income
Amortization of unrealized losses on debt securities transferred to held-to-maturity	(1.3)		(0.8)		Income before income tax expense (3)
	0.3		0.2		Income tax expense
	(1.0)		(0.6)		Net income
Amortization of unrealized gains and losses on cash flow hedges:
Interest rate swaps	—		(0.4)		(5)
Interest rate locks (4)	—		—		(5)
	—		(0.4)		Income before income tax expense
	—		0.1		Income tax expense
	—		(0.3)		Net income
Total reclassifications for the period	$	(2.6)	$	(2.7)

(1)Included in the computation of net periodic benefit income (expense) reflected in other non-interest expense (see Note 9 for additional details).

(2)Included in other non-interest income.

(3)Included in interest and dividend income - securities.

(4)Amount reclassified from AOCL totaled less than $0.1 million for both periods

(5)Included in interest expense - notes and debentures.