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Other comprehensive income (loss) (Tables)
6 Months Ended
Jun. 30, 2020
Accumulated Other Comprehensive Income (Loss)  
Schedule of accumulated other comprehensive income

 

 

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

 

 

 

 

Quarters ended

Six months ended

 

 

 

June 30,

June 30,

(In thousands)

 

 

2020

 

2019

 

2020

 

2019

Foreign currency translation

Beginning Balance

$

(58,601)

$

(51,174)

$

(56,783)

$

(49,936)

 

 

Other comprehensive loss

 

(10,857)

 

(1,204)

 

(12,675)

 

(2,442)

 

 

Net change

 

(10,857)

 

(1,204)

 

(12,675)

 

(2,442)

 

 

Ending balance

$

(69,458)

$

(52,378)

$

(69,458)

$

(52,378)

Adjustment of pension and postretirement benefit plans

Beginning Balance

$

(199,465)

$

(200,163)

$

(202,816)

$

(203,836)

 

 

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

 

3,351

 

3,672

 

6,702

 

7,345

 

 

Net change

 

3,351

 

3,672

 

6,702

 

7,345

 

 

Ending balance

$

(196,114)

$

(196,491)

$

(196,114)

$

(196,491)

Unrealized net holding gains on debt securities

Beginning Balance

$

473,931

$

(72,408)

$

92,155

$

(173,811)

 

 

Other comprehensive income

 

15,174

 

130,452

 

396,950

 

231,855

 

 

Net change

 

15,174

 

130,452

 

396,950

 

231,855

 

 

Ending balance

$

489,105

$

58,044

$

489,105

$

58,044

Unrealized net losses on cash flow hedges

Beginning Balance

$

(5,242)

$

(234)

$

(2,494)

$

(391)

 

 

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

 

-

 

-

 

-

 

(50)

 

 

Other comprehensive loss before reclassifications

 

(393)

 

(711)

 

(3,982)

 

(1,148)

 

 

Amounts reclassified from accumulated other comprehensive loss

 

1,451

 

557

 

2,292

 

1,201

 

 

Net change

 

1,058

 

(154)

 

(1,690)

 

3

 

 

Ending balance

$

(4,184)

$

(388)

$

(4,184)

$

(388)

 

 

Total

$

219,349

$

(191,213)

$

219,349

$

(191,213)

[1]

All amounts presented are net of tax.

 

 

 

 

 

 

 

 

Reclassification out of accumulated other comprehensive income

 

 

Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

 

 

 

 

Quarters ended

Six months ended

 

 

Affected Line Item in the

June 30,

June 30,

(In thousands)

Consolidated Statements of Operations

 

2020

 

2019

 

2020

 

2019

Adjustment of pension and postretirement benefit plans

 

 

 

 

 

 

 

 

 

 

Amortization of net losses

Personnel costs

$

(5,362)

$

(5,876)

$

(10,724)

$

(11,752)

 

 

Total before tax

 

(5,362)

 

(5,876)

 

(10,724)

 

(11,752)

 

 

Income tax benefit

 

2,011

 

2,204

 

4,022

 

4,407

 

 

Total net of tax

$

(3,351)

$

(3,672)

$

(6,702)

$

(7,345)

 

 

 

 

 

 

 

 

 

 

 

Unrealized net losses on cash flow hedges

 

 

 

 

 

 

 

 

 

 

Forward contracts

Mortgage banking activities

$

(1,963)

$

(891)

$

(3,259)

$

(1,921)

 

Interest rate swaps

Other operating income

 

(224)

 

-

 

(255)

 

-

 

 

Total before tax

 

(2,187)

 

(891)

 

(3,514)

 

(1,921)

 

 

Income tax benefit

 

736

 

334

 

1,222

 

720

 

 

Total net of tax

$

(1,451)

$

(557)

$

(2,292)

$

(1,201)

 

 

Total reclassification adjustments, net of tax

$

(4,802)

$

(4,229)

$

(8,994)

$

(8,546)