Other comprehensive income (loss)

9 Months Ended

Sep. 30, 2018

Disclosure Text Block

Other Comprehensive Income (Loss)

Note 20 – Other comprehensive loss

The following table presents changes in accumulated other comprehensive loss by component for the quarters and ninemonths ended September 30,2018 and 2017.

		Changes in Accumulated Other Comprehensive Loss by Component [1]
				Quarters ended				Nine months ended
				September 30,				September 30,
(In thousands)					2018		2017		2018		2017
Foreign currency translation		Beginning Balance		$	(46,397)	$	(41,405)	$	(43,034)	$	(39,956)
		Other comprehensive loss			(605)		(390)		(3,968)		(1,839)
		Net change			(605)		(390)		(3,968)		(1,839)
		Ending balance		$	(47,002)	$	(41,795)	$	(47,002)	$	(41,795)
Adjustment of pension and
	postretirement benefit plans	Beginning Balance		$	(199,895)	$	(205,928)	$	(205,408)	$	(211,610)
		Amounts reclassified from accumulated other
			comprehensive loss for amortization
			of net losses		3,285		3,421		9,856		10,263
		Amounts reclassified from accumulated other
			comprehensive loss for amortization
			of prior service credit		(529)		(580)		(1,587)		(1,740)
		Net change			2,756		2,841		8,269		8,523
		Ending balance		$	(197,139)	$	(203,087)	$	(197,139)	$	(203,087)
Unrealized net holding losses
	on debt securities	Beginning Balance		$	(250,422)	$	(56,414)	$	(102,775)	$	(69,003)
		Other comprehensive (loss) income before
			reclassifications		(39,845)		9,302		(187,492)		15,151
		Other-than-temporary impairment amount reclassified
			from accumulated other comprehensive loss		-		-		-		6,740
		Amounts reclassified from accumulated other
			comprehensive loss for gains on securities		-		(66)		-		(66)
		Net change			(39,845)		9,236		(187,492)		21,825
		Ending balance		$	(290,267)	$	(47,178)	$	(290,267)	$	(47,178)
Unrealized holding gains
	on equity securities	Beginning Balance		$	-	$	672	$	605	$	685
		Reclassification to retained earnings due to cumulative
			effect adjustment of accounting change		-		-		(605)		-
		Other comprehensive income before
			reclassifications		-		48		-		180
		Amounts reclassified from accumulated other
			comprehensive income for gains on securities		-		(16)		-		(161)
		Net change			-		32		(605)		19
		Ending balance		$	-	$	704	$	-	$	704
Unrealized net (losses) gains
	on cash flow hedges	Beginning Balance		$	(78)	$	132	$	(40)	$	(402)
		Other comprehensive income (loss) before
			reclassifications		208		(250)		790		(869)
		Amounts reclassified from accumulated other
			comprehensive (loss) income		89		142		(531)		1,295
		Net change			297		(108)		259		426
		Ending balance		$	219	$	24	$	219	$	24
		Total		$	(534,189)	$	(291,332)	$	(534,189)	$	(291,332)
[1] All amounts presented are net of tax.

The following table presents the amounts reclassified out of each component of accumulated other comprehensive loss during the quarters and nine months ended September 30,2018 and2017.

		Reclassifications Out of Accumulated Other Comprehensive Loss
				Quarters ended				Nine months ended
		Affected Line Item in the		September 30,				September 30,
(In thousands)		Consolidated Statements of Operations			2018		2017		2018		2017
Adjustment of pension and postretirement benefit plans
	Amortization of net losses	Personnel costs		$	(5,386)	$	(5,606)	$	(16,157)	$	(16,819)
	Amortization of prior service credit	Personnel costs			868		950		2,603		2,850
		Total before tax			(4,518)		(4,656)		(13,554)		(13,969)
		Income tax benefit			1,762		1,815		5,285		5,446
		Total net of tax		$	(2,756)	$	(2,841)	$	(8,269)	$	(8,523)
Unrealized holding losses on debt securities
	Other-than-temporary impairment	Other-than-temporary impairment losses on
			available-for-sale debt securities	$	-	$	-	$	-	$	(8,299)
	Realized gains on sale of debt securities	Net gain on sale of debt securities			-		83		-		83
		Total before tax			-		83		-		(8,216)
		Income tax (expense) benefit			-		(17)		-		1,542
		Total net of tax		$	-	$	66	$	-	$	(6,674)
Unrealized holding gains on equity securities
	Realized gain on sale of equity securities	Net gain on equity securities		$	-	$	20	$	-	$	201
		Total before tax			-		20		-		201
		Income tax expense			-		(4)		-		(40)
		Total net of tax		$	-	$	16	$	-	$	161
Unrealized net (losses) gains on cash flow hedges
	Forward contracts	Mortgage banking activities		$	(147)	$	(232)	$	870	$	(2,122)
		Total before tax			(147)		(232)		870		(2,122)
		Income tax benefit (expense)			58		90		(339)		827
		Total net of tax		$	(89)	$	(142)	$	531	$	(1,295)
		Total reclassification adjustments, net of tax		$	(2,845)	$	(2,901)	$	(7,738)	$	(16,331)