Other Comprehensive Income/Loss

6 Months Ended

Jun. 30, 2013

Other Comprehensive Income/Loss

Other Comprehensive Income/Loss

8.     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 tables set forth the components of accumulated other comprehensive loss at the dates indicated and the changes during the three and six months ended June 30, 2013.

(In Thousands)	At March 31, 2013	Other Comprehensive (Loss) Income	At June 30, 2013
Net unrealized gain (loss) on securities available-for-sale	$    7,581	$(8,065)	$     (484)
Net actuarial loss on pension plans and other postretirement benefits	(76,488)	542	(75,946)
Prior service cost on pension plans and other postretirement benefits	(3,392)	35	(3,357)
Accumulated other comprehensive loss	$(72,299)	$(7,488)	$(79,787)

(In Thousands)	At December 31, 2012	Other Comprehensive (Loss) Income	At June 30, 2013
Net unrealized gain (loss) on securities available-for-sale	$    7,451	$(7,935)	$     (484)
Net actuarial loss on pension plans and other postretirement benefits	(77,115)	1,169	(75,946)
Prior service cost on pension plans and other postretirement benefits	(3,426)	69	(3,357)
Accumulated other comprehensive loss	$(73,090)	$(6,697)	$(79,787)

The following tables set forth the components of other comprehensive loss for the periods indicated.

	For the Three Months Ended June 30, 2013
(In Thousands)	Before Tax Amount		Tax Benefit (Expense)		After Tax Amount
Net unrealized loss on securities available-for-sale:
Net unrealized holding loss on securities arising during the period	$(10,396	)	$ 3,663		$ (6,733	)
Reclassification adjustment for gain on sales of securities included in net income	(2,057	)	725		(1,332	)
Net unrealized loss on securities available-for-sale	(12,453	)	4,388		(8,065	)
Reclassification adjustment for net actuarial loss included in net income	838		(296	)	542
Reclassification adjustment for prior service cost included in net income	53		(18	)	35
Other comprehensive loss	$(11,562	)	$ 4,074		$ (7,488	)

	For the Six Months Ended June 30, 2013
(In Thousands)	Before Tax Amount		Tax Benefit  (Expense)		After Tax Amount
Net unrealized loss on securities available-for-sale:
Net unrealized holding loss on securities arising during the period	$(10,196	)	$ 3,593		$ (6,603	)
Reclassification adjustment for gain on sales of securities included in net income	(2,057	)	725		(1,332	)
Net unrealized loss on securities available-for-sale	(12,253	)	4,318		(7,935	)
Reclassification adjustment for net actuarial loss included in net income	1,805		(636	)	1,169
Reclassification adjustment for prior service cost included in net income	106		(37	)	69
Other comprehensive loss	$(10,342	)	$ 3,645		$ (6,697	)

The following table sets forth information about amounts reclassified from accumulated other comprehensive loss to, and the affected line items in, the consolidated statements of income for the periods indicated.

(In Thousands)	For the Three Months Ended June 30, 2013	For the Six Months Ended June 30, 2013	Income Statement Line Item
Reclassification adjustment for gain on sales of securities	$(2,057)	$(2,057)	Gain on sales of securities
Reclassification adjustment for net actuarial loss (1)	838	1,805	Compensation and benefits
Reclassification adjustment for prior service cost (1)	53	106	Compensation and benefits
Total before tax	(1,166)	(146)
Income tax effect	411	52	Income tax expense
Total reclassifications, net of tax	$   (755)	$    (94)	Net income

(1) These 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 9 for additional details.