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Other comprehensive (loss) income
 3 Months Ended
Mar. 31, 2022
Disclosure Of Change In Accumulated Other Comprehensive Income Loss [Abstract]  
Other Comprehensive Income (Loss)

Note 18 – Other comprehensive loss

The following table presents changes in accumulated other comprehensive loss by component for the quarters ended March 31, 2022 and 2021.

 

 

Changes in Accumulated Other Comprehensive Loss by Component [1]

 

 

 

Quarters ended March 31,

(In thousands)

 

2022

2021

Foreign currency translation

Beginning Balance

$

(67,307)

$

(71,254)

 

 

Other comprehensive (loss) income

 

(2,858)

 

569

 

 

Net change

 

(2,858)

 

569

 

 

Ending balance

$

(70,165)

$

(70,685)

Adjustment of pension and postretirement benefit plans

Beginning Balance

$

(158,994)

$

(195,056)

 

 

Other comprehensive loss before reclassifications

 

1,269

 

-

 

 

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

 

2,444

 

3,242

 

 

Net change

 

3,713

 

3,242

 

 

Ending balance

$

(155,281)

$

(191,814)

Unrealized net holding (losses) gains on debt securities

Beginning Balance

$

(96,120)

$

460,900

 

 

Other comprehensive loss

 

(1,075,830)

 

(369,945)

 

 

Net change

 

(1,075,830)

 

(369,945)

 

 

Ending balance

$

(1,171,950)

$

90,955

Unrealized net gains (losses) on cash flow hedges

Beginning Balance

$

(2,648)

$

(4,599)

 

 

Other comprehensive income before reclassifications

 

3,139

 

1,357

 

 

Amounts reclassified from accumulated other comprehensive gains (losses)

 

(333)

 

48

 

 

Net change

 

2,806

 

1,405

 

 

Ending balance

$

158

$

(3,194)

 

 

Total

$

(1,397,238)

$

(174,738)

[1] All amounts presented are net of tax.

 

 

 

 

The following table presents the amounts reclassified out of each component of accumulated other comprehensive loss during the quarters ended March 31, 2022 and 2021.

 

 

Reclassifications Out of Accumulated Other Comprehensive Loss

 

 

Affected Line Item in the

Quarters ended March 31,

(In thousands)

Consolidated Statements of Operations

2022

2021

 

 

 

 

 

 

 

 

Adjustment of pension and postretirement benefit plans

 

 

 

 

 

 

Amortization of net losses

Other operating expenses

$

(3,911)

$

(5,190)

 

 

Total before tax

 

(3,911)

 

(5,190)

 

 

Income tax benefit

 

1,467

 

1,948

 

 

Total net of tax

$

(2,444)

$

(3,242)

Unrealized net gains (losses) on cash flow hedges

 

 

 

 

 

 

Forward contracts

Mortgage banking activities

$

978

$

370

 

Interest rate swaps

Other operating income

$

(279)

$

(279)

 

 

Total before tax

 

699

 

91

 

 

Income tax expense

 

(366)

 

(139)

 

 

Total net of tax

$

333

$

(48)

 

 

Total reclassification adjustments, net of tax

$

(2,111)

$

(3,290)