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Other Comprehensive Income (Loss)
 6 Months Ended
Jun. 30, 2013
Equity [Abstract]  
Other Comprehensive Income (Loss)
The following table illustrates activity within the balances in accumulated other comprehensive income (loss) by component, and is shown for the six and three months ended June 30, 2013.
Changes in Accumulated Other Comprehensive Income (Loss) by Component (Net of Income Taxes)
(in thousands)
Net unrealized gains (losses) on cash flow hedges
 
Net unrealized gains (losses) on investment securities available for sale
 
Amortization of post-retirement unfunded health benefit
 
Total
Beginning balance as of December 31, 2012
$
(13,373
)
 
17,111

 
363

 
4,101

Other comprehensive income (loss) before reclassifications
—

 
(36,909
)
 
519

 
(36,390
)
Amounts reclassified from accumulated other comprehensive income (loss)
136

 
(891
)
 
(16
)
 
(771
)
Net current period other comprehensive income (loss)
136

 
(37,800
)
 
503

 
(37,161
)
Ending balance as of June 30, 2013
$
(13,237
)
 
(20,689
)
 
866

 
(33,060
)
 
 
 
 
 
 
 
 
Beginning balance as of April 1, 2013
$
(13,304
)
 
15,751

 
340

 
2,787

Other comprehensive income (loss) before reclassifications
—

 
(35,578
)
 
519

 
(35,059
)
Amounts reclassified from accumulated other comprehensive income (loss)
67

 
(862
)
 
7

 
(788
)
Net current period other comprehensive income (loss)
67

 
(36,440
)
 
526

 
(35,847
)
Ending balance as of June 30, 2013
$
(13,237
)
 
(20,689
)
 
866

 
(33,060
)
 
 
 
 
 
 
 
 

In accordance with ASC 740-20-45-11(b), a deferred tax asset valuation allowance associated with unrealized gains and losses not recognized in income is charged directly to other comprehensive income (loss). Thus, during the years 2010 and 2011, Synovus recorded a deferred tax asset valuation allowance associated with unrealized gains and losses not recognized in income directly to other comprehensive income (loss) by applying the portfolio approach for allocation of the valuation allowance. Synovus has consistently applied the portfolio approach which treats derivative instruments, equity securities, and debt securities as a single portfolio. As of June 30, 2013, the ending balance in net unrealized gains (losses) on cash flow hedges and net unrealized gains (losses) on investment securities available for sale includes unrealized losses of $12.1 million and $13.3 million, respectively, related to the residual tax effects remaining in OCI due to the previously established deferred tax asset valuation allowance. Under the portfolio approach, these unrealized losses are realized at the time the entire portfolio is sold or disposed.
The following table illustrates activity within the reclassifications out of accumulated other comprehensive income (loss), for the six and three months ended June 30, 2013, respectively.
Reclassifications out of Accumulated Other Comprehensive Income (Loss)
For the Six Months Ended June 30, 2013
Details about accumulated other comprehensive income (loss) components
 
Amount reclassified from accumulated other comprehensive income (loss)
 
Affected line item in the statement where net income is presented
Net unrealized gains (losses) on cash flow hedges:
 
 
 
 
  Amortization of deferred gains (losses)
 
$
(224
)
 
Interest expense
 
 
88

 
Income tax benefit
 
 
$
(136
)
 
Reclassifications, net of income taxes
Net unrealized gains (losses) on investment securities available for sale:
 
 
 
 
  Realized gain on sale of securities
 
$
1,448

 
Investment securities gains, net
 
 
(557
)
 
Income tax expense
 
 
$
891

 
Reclassifications, net of income taxes
Amortization of post-retirement unfunded health benefit:
 
 
 
 
  Amortization of actuarial gains (losses)
 
$
26

 
Salaries and other personnel expense
 
 
(10
)
 
Income tax expense
 
 
$
16

 
Reclassifications, net of income taxes
 
 
 
 
 
For the Three Months Ended June 30, 2013
Details about accumulated other comprehensive income (loss) components
 
Amount reclassified from accumulated other comprehensive income (loss)
 
Affected line item in the statement where net income is presented
Net unrealized gains (losses) on cash flow hedges:
 
 
 
 
  Amortization of deferred gains (losses)
 
$
(112
)
 
Interest expense
 
 
45

 
Income tax benefit
 
 
$
(67
)
 
Reclassifications, net of income taxes
Net unrealized gains (losses) on investment securities available for sale:
 
 
 
 
  Realized gain on sale of securities
 
$
1,403

 
Investment securities gains, net
 
 
(541
)
 
Income tax expense
 
 
$
862

 
Reclassifications, net of income taxes
Amortization of post-retirement unfunded health benefit:
 
 
 
 
  Amortization of actuarial gains (losses)
 
$
—

 
Salaries and other personnel expense
 
 
(7
)
 
Income tax expense
 
 
$
(7
)
 
Reclassifications, net of income taxes