Other Comprehensive Income/Loss

3 Months Ended

Mar. 31, 2013

Other Comprehensive Income/Loss

Other Comprehensive Income/Loss

7.     Other Comprehensive Income/Loss

The following disclosures reflect our adoption, effective January 1, 2013, of the guidance in Accounting Standards Update, or ASU, 2013-02, “Comprehensive Income (Topic 220) Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” The guidance in ASU 2013-02 is effective prospectively for reporting periods beginning after December 15, 2012 and is presentation related only.  Our adoption of ASU 2013-02 did not have an impact on our financial condition or results of operations.

The following table sets forth the components of accumulated other comprehensive loss at March 31, 2013 and December 31, 2012 and the changes during the three months ended March 31, 2013.

(In Thousands)	At December 31, 2012	Other Comprehensive Income	At March 31, 2013
Net unrealized gain on securities available-for-sale	$   7,451	$ 130	$   7,581
Net actuarial loss on pension plans and other postretirement benefits	(77,115)	627	(76,488)
Prior service cost on pension plans and other postretirement benefits	(3,426)	34	(3,392)
Accumulated other comprehensive loss	$(73,090)	$ 791	$(72,299)

The following table sets forth the components of other comprehensive income for the three months ended March 31, 2013.

(In Thousands)	Before Tax Amount	Tax Expense	After Tax Amount
Net unrealized holding gain on securities available-for-sale arising during the period	$    200	$   (70)	$  130
Reclassification adjustment for net actuarial loss included in net income	967	(340)	627
Reclassification adjustment for prior service cost included in net income	53	(19)	34
Other comprehensive income	$ 1,220	$ (429)	$  791

The following table sets forth information about amounts reclassified from accumulated other comprehensive loss to the consolidated statement of income and the affected line item in the statement where net income is presented.

(In Thousands)	For the Three Months Ended March 31, 2013
Net actuarial loss and prior service cost on pension plans and other postretirement benefits (1):
Income statement line item:
Compensation and benefits:
Recognized net actuarial loss	$      967
Amortization of prior service cost	53
Compensation and benefits	1,020
Income tax benefit	(359)
Net of tax	$      661

(1) These accumulated other comprehensive loss components are included in the computations of net periodic cost for our defined benefit pension plans and other postretirement benefit plan. See Note 8 for additional details.