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Other comprehensive income (loss) (Tables)
3 Months Ended
Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss)  
Schedule of accumulated other comprehensive income

 

 

Changes in Accumulated Other Comprehensive Income (Loss) by Component [1]

 

 

 

Quarters ended March 31,

(In thousands)

 

2020

2019

Foreign currency translation

Beginning Balance

$

(56,783)

$

(49,936)

 

 

Other comprehensive loss

 

(1,818)

 

(1,238)

 

 

Net change

 

(1,818)

 

(1,238)

 

 

Ending balance

$

(58,601)

$

(51,174)

Adjustment of pension and postretirement benefit plans

Beginning Balance

$

(202,816)

$

(203,836)

 

 

Amounts reclassified from accumulated other comprehensive loss for amortization of net losses

 

3,351

 

3,673

 

 

Net change

 

3,351

 

3,673

 

 

Ending balance

$

(199,465)

$

(200,163)

Unrealized net holding gains (losses) on debt securities

Beginning Balance

$

92,155

$

(173,811)

 

 

Other comprehensive income

 

381,776

 

101,403

 

 

Net change

 

381,776

 

101,403

 

 

Ending balance

$

473,931

$

(72,408)

Unrealized net losses on cash flow hedges

Beginning Balance

$

(2,494)

$

(391)

 

 

Reclassification to retained earnings due to cumulative effect adjustment of accounting change

 

-

 

(50)

 

 

Other comprehensive loss before reclassifications

 

(3,589)

 

(437)

 

 

Amounts reclassified from accumulated other comprehensive loss

 

841

 

644

 

 

Net change

 

(2,748)

 

157

 

 

Ending balance

$

(5,242)

$

(234)

 

 

Total

$

210,623

$

(323,979)

[1] All amounts presented are net of tax.

 

 

 

 

Reclassification out of accumulated other comprehensive income

 

 

Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

 

 

Affected Line Item in the

Quarters ended March 31,

(In thousands)

Consolidated Statements of Operations

2020

2019

 

 

 

 

 

 

 

 

Adjustment of pension and postretirement benefit plans

 

 

 

 

 

 

Amortization of net losses

Personnel costs

$

(5,362)

$

(5,876)

 

 

Total before tax

 

(5,362)

 

(5,876)

 

 

Income tax benefit

 

2,011

 

2,203

 

 

Total net of tax

$

(3,351)

$

(3,673)

Unrealized net losses on cash flow hedges

 

 

 

 

 

 

Forward contracts

Mortgage banking activities

$

(1,296)

$

(1,030)

 

Interest rate swaps

Other operating income

$

(31)

$

-

 

 

Total before tax

 

(1,327)

 

(1,030)

 

 

Income tax benefit (expense)

 

486

 

386

 

 

Total net of tax

$

(841)

$

(644)

 

 

Total reclassification adjustments, net of tax

$

(4,192)

$

(4,317)