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Comprehensive Income
 3 Months Ended
Mar. 31, 2020
Equity [Abstract]  
Comprehensive Income
Comprehensive Income
Comprehensive income is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances arising from nonowner sources. The following summarizes the change in the components of other comprehensive income.
 
Three Months Ended March 31,
 
2020
 
2019
 
Pretax
 
Tax Expense/ (Benefit)
 
After-tax
 
Pretax
 
Tax Expense/ (Benefit)
 
After-tax
 
(In Thousands)
Other comprehensive income:
 
 
 
 
 
 
 
 
 
 
 
Unrealized holding gains arising during period from debt securities available for sale
$
130,943

 
$
31,244

 
$
99,699

 
$
67,768

 
$
16,068

 
$
51,700

Less: reclassification adjustment for net gains on sale of debt securities in net income
19,139

 
4,567

 
14,572

 
8,958

 
2,124

 
6,834

Net change in unrealized gains on debt securities available for sale
111,804

 
26,677

 
85,127

 
58,810

 
13,944

 
44,866

Change in unamortized net holding gains on debt securities held to maturity
2,069

 
494

 
1,575

 
2,284

 
541

 
1,743

Change in unamortized non-credit related impairment on debt securities held to maturity
155

 
37

 
118

 
482

 
114

 
368

Net change in unamortized holding gains on debt securities held to maturity
2,224

 
531

 
1,693

 
2,766

 
655

 
2,111

Unrealized holding gains arising during period from cash flow hedge instruments
360,963

 
86,126

 
274,837

 
31,518

 
7,465

 
24,053

Change in defined benefit plans
2,301

 
547

 
1,754

 
4,089

 
970

 
3,119

Other comprehensive income
$
477,292

 
$
113,881

 
$
363,411

 
$
97,183

 
$
23,034

 
$
74,149


Activity in accumulated other comprehensive income (loss), net of tax was as follows:
 
Unrealized Gains (Losses) on Debt Securities Available for Sale and Transferred to Held to Maturity
 
Accumulated Gains (Losses) on Cash Flow Hedging Instruments
 
Defined Benefit Plan Adjustment
 
Unamortized Impairment Losses on Debt Securities Held to Maturity
 
Total
 
(In Thousands)
Balance, December 31, 2018
$
(158,433
)
 
$
6,175

 
$
(29,495
)
 
$
(5,095
)
 
$
(186,848
)
Cumulative effect of adoption of ASUs (1)
(25,844
)
 
(1,040
)
 
(7,351
)
 
(1,201
)
 
(35,436
)
 
$
(184,277
)
 
$
5,135

 
$
(36,846
)
 
$
(6,296
)
 
$
(222,284
)
Other comprehensive income before reclassifications
51,700

 
23,001

 
—

 
—

 
74,701

Amounts reclassified from accumulated other comprehensive income (loss)
(5,091
)
 
1,052

 
3,119

 
368

 
(552
)
Net current period other comprehensive income
46,609

 
24,053

 
3,119

 
368

 
74,149

Balance, March 31, 2019
$
(137,668
)
 
$
29,188

 
$
(33,727
)
 
$
(5,928
)
 
$
(148,135
)
 
 
 
 
 
 
 
 
 
 
Balance, December 31, 2019
$
(40,080
)
 
$
91,445

 
$
(46,666
)
 
$
(5,771
)
 
$
(1,072
)
Other comprehensive income before reclassifications
99,699

 
278,675

 
—

 
—

 
378,374

Amounts reclassified from accumulated other comprehensive income (loss)
(12,997
)
 
(3,838
)
 
1,754

 
118

 
(14,963
)
Net current period other comprehensive income
86,702

 
274,837

 
1,754

 
118

 
363,411

Balance, March 31, 2020
$
46,622

 
$
366,282

 
$
(44,912
)
 
$
(5,653
)
 
$
362,339


(1)
Related to the Company's adoption of ASU 2017-12 and ASU 2018-02 on January 1, 2019.
The following table presents information on reclassifications out of accumulated other comprehensive income (loss).
Details About Accumulated Other Comprehensive Income (Loss) Components
 
Amounts Reclassified From Accumulated Other Comprehensive Income (Loss) (1)
 
Condensed Consolidated Statements of Income Caption
 
 
Three Months Ended March 31,
 
 
 
 
2020
 
2019
 
 
 
 
(In Thousands)
 
 
Unrealized Gains (Losses) on Debt Securities Available for Sale and Transferred to Held to Maturity
 
$
19,139

 
$
8,958

 
Investment securities gains, net
 
 
(2,069
)
 
(2,284
)
 
Interest on debt securities held to maturity
 
 
17,070

 
6,674

 
 
 
 
(4,073
)
 
(1,583
)
 
Income tax expense
 
 
$
12,997

 
$
5,091

 
Net of tax
 
 
 
 
 
 
 
Accumulated Gains (Losses) on Cash Flow Hedging Instruments
 
$
5,459

 
$
(1,210
)
 
Interest and fees on loans
 
 
(419
)
 
(169
)
 
Interest on FHLB and other borrowings
 
 
5,040

 
(1,379
)
 
 
 
 
(1,202
)
 
327

 
Income tax (expense) benefit
 
 
$
3,838

 
$
(1,052
)
 
Net of tax
 
 
 
 
 
 
 
Defined Benefit Plan Adjustment
 
$
(2,301
)
 
$
(4,089
)
 
(2)
 
 
547

 
970

 
Income tax benefit
 
 
$
(1,754
)
 
$
(3,119
)
 
Net of tax
 
 
 
 
 
 
 
Unamortized Impairment Losses on Debt Securities Held to Maturity
 
$
(155
)
 
$
(482
)
 
Interest on debt securities held to maturity
 
 
37

 
114

 
Income tax benefit
 
 
$
(118
)
 
$
(368
)
 
Net of tax
(1)
Amounts in parentheses indicate debits to the Unaudited Condensed Consolidated Statements of Income.
(2)
These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 17, Benefit Plans, in the Notes to the December 31, 2019, Consolidated Financial Statements for additional details).