Other comprehensive income (loss) (Tables)

9 Months Ended

Sep. 30, 2024

Accumulated Other Comprehensive Income (Loss)

Schedule of accumulated other comprehensive (loss) income

Changes in Accumulated Other Comprehensive Loss by Component [1]

Quarters ended

Nine months ended

September 30,

September 30,

(In thousands)

2024

2023

2024

2023

Foreign currency translation

Beginning Balance

$

(68,383)

$

(55,979)

$

(64,528)

$

(56,735)

Other comprehensive income (loss)

615

(976)

(3,240)

(220)

Net change

615

(976)

(3,240)

(220)

Ending balance

$

(67,768)

$

(56,955)

$

(67,768)

$

(56,955)

Adjustment of pension and

postretirement benefit plans

Beginning Balance

$

(113,371)

$

(138,319)

$

(117,894)

$

(144,335)

Amounts reclassified from accumulated other

comprehensive loss for amortization of net losses

2,261

3,009

6,784

9,025

Net change

2,261

3,009

6,784

9,025

Ending balance

$

(111,110)

$

(135,310)

$

(111,110)

$

(135,310)

Unrealized net holding losses

on debt securities

Beginning Balance

$

(1,696,528)

$

(2,134,137)

$

(1,713,109)

$

(2,323,903)

Other comprehensive income (loss)

326,148

(242,567)

271,985

(120,756)

Amounts reclassified from accumulated other

comprehensive loss for amortization of net unrealized

losses of debt securities transferred from available-for-

sale to held-to-maturity

36,264

35,027

107,008

102,982

Net change

362,412

(207,540)

378,993

(17,774)

Ending balance

$

(1,334,116)

$

(2,341,677)

$

(1,334,116)

$

(2,341,677)

Unrealized net (losses) gains

on cash flow hedges

Beginning Balance

$

-

$

-

$

-

$

45

Other comprehensive (loss) income before

reclassifications

-

-

-

(19)

Amounts reclassified from accumulated other

comprehensive income (loss)

-

-

-

(26)

Net change

-

-

-

(45)

Total 

$

(1,512,994)

$

(2,533,942)

$

(1,512,994)

$

(2,533,942)

[1] 

All amounts presented are net of tax.

Reclassification out of accumulated other comprehensive (loss) income

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

2024

2023

2024

2023

Adjustment of pension and postretirement benefit plans

Amortization of net losses

Other operating expenses

$

(3,618)

$

(4,814)

$

(10,854)

$

(14,440)

Total before tax

(3,618)

(4,814)

(10,854)

(14,440)

Income tax benefit

1,357

1,805

4,070

5,415

Total net of tax

$

(2,261)

$

(3,009)

$

(6,784)

$

(9,025)

Unrealized net holding losses on debt securities

Amortization of unrealized net losses of debt

securities transferred to held-to-maturity

Interest income from investment securities

$

(45,331)

$

(43,783)

$

(133,761)

$

(128,726)

Total before tax

(45,331)

(43,783)

(133,761)

(128,726)

Income tax expense

9,067

8,756

26,753

25,744

Total net of tax

$

(36,264)

$

(35,027)

$

(107,008)

$

(102,982)

Unrealized net (losses) gains on cash flow hedges

Forward contracts

Mortgage banking activities

$

-

$

-

$

-

$

41

Total before tax

-

-

-

41

Income tax benefit

-

-

-

(15)

Total net of tax

$

-

$

-

$

-

$

26

Total reclassification adjustments, net of tax

$

(38,525)

$

(38,036)

$

(113,792)

$

(111,981)