XML 42 R14.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Comprehensive Income | 12 Months Ended
--- | ---
Dec. 31, 2018
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] |
Comprehensive Income | Comprehensive Income (a) The components of comprehensive income, both gross and net of tax, for 2018, 2017, and 2016 were as follows:
2018 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 211,721 |  |  | 32,782 |  |  | 178,939 |
Components of OCI: |  |  |  |  |  |  |  |  |
Unrealized (losses) gains on investment securities: |  |  |  |  |  |  |  |  |
Unrealized holding losses during the year |  | (123,145 | ) |  | (25,861 | ) |  | (97,284 | )
Amounts reclassified into net income: |  |  |  |  |  |  |
HTM securities |  | 110 |  |  | 23 |  |  | 87 |
Realized losses on AFS securities |  | 39,641 |  |  | 8,325 |  |  | 31,316 |
Net unrealized losses |  | (83,394 | ) |  | (17,513 | ) |  | (65,881 | )
Defined benefit pension and post-retirement plans: |  |  |  |  |  |  |  |  |
Net actuarial loss |  | (11,273 | ) |  | (2,367 | ) |  | (8,906 | )
Amounts reclassified into net income: |  |  |  |  |  |  |  |  |
Net actuarial loss |  | 2,127 |  |  | 447 |  |  | 1,680 |
Defined benefit pension and post-retirement plans |  | (9,146 | ) |  | (1,920 | ) |  | (7,226 | )
Other comprehensive loss |  | (92,540 | ) |  | (19,433 | ) |  | (73,107 | )
Comprehensive income |  | $ | 119,181 |  |  | 13,349 |  |  | 105,832 |
2017 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 261,968 |  |  | 93,142 |  |  | 168,826 |
Components of OCI: |  |  |  |  |  |  |  |  |
Unrealized gains (losses) on investment securities: |  |  |  |  |  |  |  |  |
Unrealized holding gains during the year |  | 66,894 |  |  | 23,879 |  |  | 43,015 |
Non-credit portion of OTTI recognized in OCI |  | 36 |  |  | 13 |  |  | 23 |
Amounts reclassified into net income: |  |  |  |  |  |  |
HTM securities |  | (179 | ) |  | (63 | ) |  | (116 | )
Non-credit OTTI |  | 104 |  |  | 36 |  |  | 68 |
Realized gains on AFS securities |  | (6,979 | ) |  | (2,442 | ) |  | (4,537 | )
Net unrealized gains |  | 59,876 |  |  | 21,423 |  |  | 38,453 |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |  |  |  |
Net actuarial loss |  | (4,684 | ) |  | (984 | ) |  | (3,700 | )
Amounts reclassified into net income: |  |  |  |  |  |  |  |  |
Net actuarial loss |  | 2,102 |  |  | 735 |  |  | 1,367 |
Defined benefit pension and post-retirement plans |  | (2,582 | ) |  | (249 | ) |  | (2,333 | )
Other comprehensive income |  | 57,294 |  |  | 21,174 |  |  | 36,120 |
Comprehensive income |  | $ | 319,262 |  |  | 114,316 |  |  | 204,946 |
2016 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 219,955 |  |  | 61,460 |  |  | 158,495 |
Components of OCI: |  |  |  |  |  |  |  |  |
Unrealized (losses) gains on investment securities: |  |  |  |  |  |  |  |  |
Unrealized holding losses during the year |  | (9,195 | ) |  | (3,218 | ) |  | (5,977 | )
Non-credit portion of OTTI recognized in OCI |  | (10 | ) |  | (4 | ) |  | (6 | )
Amounts reclassified into net income: |  |  |  |  |  |  |
HTM securities |  | (141 | ) |  | (49 | ) |  | (92 | )
Non-credit OTTI |  | 213 |  |  | 75 |  |  | 138 |
Realized losses on AFS securities |  | 4,713 |  |  | 1,649 |  |  | 3,064 |
Net unrealized losses |  | (4,420 | ) |  | (1,547 | ) |  | (2,873 | )
Defined benefit pension and post-retirement plans: |  |  |  |  |  |  |  |  |
Net actuarial loss |  | (12,079 | ) |  | (4,227 | ) |  | (7,852 | )
Amounts reclassified into net income: |  |  |  |  |  |  |  |  |
Net actuarial loss |  | 6,462 |  |  | 2,262 |  |  | 4,200 |
Defined benefit pension and post-retirement plans |  | (5,617 | ) |  | (1,965 | ) |  | (3,652 | )
Other comprehensive loss |  | (10,037 | ) |  | (3,512 | ) |  | (6,525 | )
Comprehensive income |  | $ | 209,918 |  |  | 57,948 |  |  | 151,970 |
(b) The balances of, and changes in, each component of AOCI (net of taxes) as of December 31, 2018 and 2017 were as follows:
|  | Net Unrealized (Loss) Gain on Investment Securities |  | Defined Benefit Pension and Post-retirement Plans |  |
($ in thousands) |  | OTTI Related |  | HTM Related |  | All Other |  | Investments Subtotal |  |  | Total AOCI
Balance, December 31, 2016 |  | $ | (150 | ) |  | 102 |  |  | 42,170 |  |  | 42,122 |  |  | (58,072 | ) |  | (15,950 | )
OCI before reclassifications |  | 23 |  |  | — |  |  | 43,015 |  |  | 43,038 |  |  | (3,700 | ) |  | 39,338 |
Amounts reclassified from AOCI |  | 68 |  |  | (116 | ) |  | (4,537 | ) |  | (4,585 | ) |  | 1,367 |  |  | (3,218 | )
Net current period OCI |  | 91 |  |  | (116 | ) |  | 38,478 |  |  | 38,453 |  |  | (2,333 | ) |  | 36,120 |
Balance, December 31, 2017 |  | (59 | ) |  | (14 | ) |  | 80,648 |  |  | 80,575 |  |  | (60,405 | ) |  | 20,170 |
Cumulative effect adjustments 1 |  | (12 | ) |  | (2 | ) |  | (12,792 | ) |  | (12,806 | ) |  | (12,213 | ) |  | (25,019 | )
Balance: December 31, 2017 as adjusted |  | $ | (71 | ) |  | (16 | ) |  | 67,856 |  |  | 67,769 |  |  | (72,618 | ) |  | (4,849 | )
OCI before reclassifications |  | — |  |  | — |  |  | (97,284 | ) |  | (97,284 | ) |  | (8,906 | ) |  | (106,190 | )
Amounts reclassified from AOCI |  | — |  |  | 87 |  |  | 31,316 |  |  | 31,403 |  |  | 1,680 |  |  | 33,083 |
Net current period OCI |  | — |  |  | 87 |  |  | (65,968 | ) |  | (65,881 | ) |  | (7,226 | ) |  | (73,107 | )
Balance, December 31, 2018 |  | $ | (71 | ) |  | 71 |  |  | 1,888 |  |  | 1,888 |  |  | (79,844 | ) |  | (77,956 | )
1 Upon adoption of ASU 2016-01 and ASU 2018-02 in the first quarter of 2018, we recognized a $25.0 million cumulative-effect adjustment to the opening balance of AOCI, which represents the after-tax net unrealized gain on our equity portfolio as of December 31, 2017 and the one-time reclassification from AOCI to retained earnings for the stranded tax assets that were created in AOCI from the enactment of Tax Reform. See Note 3. "Adoption of Accounting Pronouncements" above for additional information. The reclassifications out of AOCI are as follows:
($ in thousands) |  | Year ended December 31, 2018 |  | Year ended December 31, 2017 |  | Affected Line Item in the Consolidated Statements of Income
OTTI related |  |  |  |  |  |
Non-credit OTTI on disposed securities |  | $ | — |  |  | 104 |  |  | Net realized and unrealized (losses) gains
|  | — |  |  | 104 |  |  | Income before federal income tax
|  | — |  |  | (36 | ) |  | Total federal income tax expense
|  | — |  |  | 68 |  |  | Net income
HTM related |  |  |  |  |  |
Unrealized losses on HTM disposals |  | 137 |  |  | 32 |  |  | Net realized and unrealized (losses) gains
Amortization of net unrealized gains on HTM securities |  | (27 | ) |  | (211 | ) |  | Net investment income earned
|  | 110 |  |  | (179 | ) |  | Income before federal income tax
|  | (23 | ) |  | 63 |  |  | Total federal income tax expense
|  | 87 |  |  | (116 | ) |  | Net income
Realized losses (gains) on AFS |  |  |  |  |  |
Realized losses (gains) on AFS disposals |  | 39,641 |  |  | (6,979 | ) |  | Net realized and unrealized (losses) gains
|  | 39,641 |  |  | (6,979 | ) |  | Income before federal income tax
|  | (8,325 | ) |  | 2,442 |  |  | Total federal income tax expense
|  | 31,316 |  |  | (4,537 | ) |  | Net income
Defined benefit pension and post-retirement life plans |  |  |  |  |  |
Net actuarial loss |  | 450 |  |  | 450 |  |  | Loss and loss expense incurred
|  | 1,677 |  |  | 1,652 |  |  | Other insurance expenses
Total defined benefit pension and post-retirement life |  | 2,127 |  |  | 2,102 |  |  | Income before federal income tax
|  | (447 | ) |  | (735 | ) |  | Total federal income tax expense
|  | 1,680 |  |  | 1,367 |  |  | Net income
Total reclassifications for the period |  | $ | 33,083 |  |  | (3,218 | ) |  | Net income

X
- References No definition available. + Details
Name: | us-gaap_ComprehensiveIncomeNetOfTaxAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration