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Other Comprehensive Income/Loss (Tables)
9 Months Ended
Sep. 30, 2013
Other Comprehensive Income/Loss  
Components of and Changes in Accumulated Other Comprehensive Loss

 

 

(In Thousands)

 

At
June 30, 2013

 

Other
Comprehensive
(Loss) Income

 

At
September 30, 2013

 

Net unrealized loss on securities available-for-sale

 

$     (484

)

 

$ (1,286

)

 

$  (1,770

)

 

Net actuarial loss on pension plans and other postretirement benefits

 

(75,946

)

 

585

 

 

(75,361

)

 

Prior service cost on pension plans and other postretirement benefits

 

(3,357

)

 

34

 

 

(3,323

)

 

Accumulated other comprehensive loss

 

$(79,787

)

 

$    (667

)

 

$(80,454

)

 

 

(In Thousands)

 

At
December 31, 2012

 

Other
Comprehensive
(Loss) Income

 

At
September 30, 2013

 

Net unrealized gain (loss) on securities available-for-sale

 

$   7,451

 

 

$  (9,221

)

 

$   (1,770

)

 

Net actuarial loss on pension plans and other postretirement benefits

 

(77,115

)

 

1,754

 

 

(75,361

)

 

Prior service cost on pension plans and other postretirement benefits

 

(3,426

)

 

103

 

 

(3,323

)

 

Accumulated other comprehensive loss

 

$(73,090

)

 

$  (7,364

)

 

$ (80,454

)

 

Schedule of components of other comprehensive loss

 

 

 

 

For the Three Months Ended
September 30, 2013

 

(In Thousands)

 

Before Tax
Amount

 

Tax Benefit
(Expense)

 

After Tax
Amount

 

Net unrealized holding loss on securities available-for-sale arising during the period

 

$   (1,984

)

 

$   698

 

 

$  (1,286

)

 

Reclassification adjustment for net actuarial loss included in net income

 

903

 

 

(318

)

 

585

 

 

Reclassification adjustment for prior service cost included in net income

 

53

 

 

(19

)

 

34

 

 

Other comprehensive loss

 

$   (1,028

)

 

$   361

 

 

$     (667

)

 

 

 

 

For the Nine Months Ended
September 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

 

$  (12,180

)

 

$  4,291

 

 

$  (7,889

)

 

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

 

(14,237

)

 

5,016

 

 

(9,221

)

 

Reclassification adjustment for net actuarial loss included in net income

 

2,708

 

 

(954

)

 

1,754

 

 

Reclassification adjustment for prior service cost included in net income

 

159

 

 

(56

)

 

103

 

 

Other comprehensive loss

 

$  (11,370

)

 

$  4,006

 

 

$  (7,364

)

 

Information about amounts reclassified from accumulated other comprehensive loss to the consolidated statements of income

 

 

(In Thousands)

 

For the
Three Months Ended
September 30, 2013

 

For the
Nine Months Ended
September 30, 2013

 

Income Statement
Line Item

 

Reclassification adjustment for gain on sales of securities

 

$     —

 

 

$  2,057

 

 

Gain on sales of securities

 

Reclassification adjustment for net actuarial loss (1)

 

(903

)

 

(2,708

)

 

Compensation and benefits

 

Reclassification adjustment for prior service cost (1)

 

(53

)

 

(159

)

 

Compensation and benefits

 

Total reclassifications, before tax

 

(956

)

 

(810

)

 

 

 

Income tax effect

 

337

 

 

285

 

 

Income tax expense

 

Total reclassifications, net of tax

 

$  (619

)

 

$    (525

)

 

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.