XML 27 R16.htm IDEA: XBRL DOCUMENT v3.20.2
Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income
 6 Months Ended
Jun. 30, 2020
Statement of Comprehensive Income [Abstract]  
Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income
The components of Other Comprehensive Income (Loss) for the six months ended June 30, 2020 were:
 
Changes in Net Unrealized Gains (Losses) on Investment Securities
 
 
 
(Dollars in Millions)
Having No Credit Losses Recognized in Consolidated Statements of Income
Having Credit Losses Recognized in Consolidated Statements of Income
Net Unrecognized Postretirement Benefit Costs
Gain (Loss) on Cash Flow Hedges
Total 
Accumulated Other Comprehensive Income (Loss)
Balance at Beginning of Period
$
439.4

$
—

$
(100.6
)
$
(2.7
)
$
336.1

Other Comprehensive Income (Loss) Before Reclassification Adjustment, Net of Tax
168.7

(2.9
)
1.1

0.1

167.0

Reclassification Adjustment for Amounts Included in Net Income, Net of Tax
(5.8
)
—

—

—

(5.8
)
Other Comprehensive Income (Loss), Net of Tax
162.9

(2.9
)
1.1

0.1

161.2

Balance at End of Period
$
602.3

$
(2.9
)
$
(99.5
)
$
(2.6
)
$
497.3







Note 8 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (continued)
The components of Other Comprehensive Income (Loss) for the three months ended June 30, 2020 were
 
Changes in Net Unrealized Gains (Losses) on Investment Securities
 
 
 
(Dollars in Millions)
Having No Credit Losses Recognized in Consolidated Statements of Income
Having Credit Losses Recognized in Consolidated Statements of Income
Net Unrecognized Postretirement Benefit Costs
Gain (Loss) on Cash Flow Hedges
Total 
Accumulated Other Comprehensive Income (Loss)
Balance at Beginning of Period
$
279.9

$
(2.3
)
$
(100.1
)
$
(2.6
)
$
174.9

Other Comprehensive Income (Loss) Before Reclassification Adjustment, Net of Tax
325.2

(0.6
)
0.6

—

325.2

Reclassification Adjustment for Amounts Included in Net Income, Net of Tax
(2.8
)
—

—

—

(2.8
)
Other Comprehensive Income (Loss), Net of Tax
322.4

(0.6
)
0.6

—

322.4

Balance at End of Period
$
602.3

$
(2.9
)
$
(99.5
)
$
(2.6
)
$
497.3


Note 8 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (continued)
The pre-tax components of the Other Comprehensive Income (Loss) and the related Income Tax Benefit (Expense) for the six and three months ended June 30, 2020 and 2019 were:
 
 
Six Months Ended
 
Three Months Ended
(Dollars in Millions)
 
Jun 30,
2020
 
Jun 30,
2019
 
Jun 30,
2020
 
Jun 30,
2019
Changes in Net Unrealized Gains (Losses) on Investment Securities:
 
 
 
 
 
 
 
 
Having No Credit Losses Recognized in Condensed Consolidated Statements of Income
 
$
213.6

 
$
349.2

 
$
411.6

 
$
173.9

Income Tax Benefit (Expense)
 
(44.9
)
 
(73.3
)
 
(86.4
)
 
(36.5
)
Net of Taxes
 
168.7

 
275.9

 
325.2

 
137.4

 
 
 
 
 
 
 
 
 
Having Credit Losses Recognized in Condensed Consolidated Statements of Income
 
(3.7
)
 
—

 
(0.8
)
 
—

Income Tax Benefit (Expense)
 
0.8

 
—

 
0.2

 
—

Net of Taxes
 
(2.9
)
 
—

 
(0.6
)
 
—

 
 
 
 
 
 
 
 
 
Reclassification Adjustment for Amounts Included in Net Income
 
(7.4
)
 
(27.1
)
 
(3.5
)
 
(14.6
)
Income Tax Benefit (Expense)
 
1.6

 
5.7

 
0.8

 
3.1

Net of Taxes
 
(5.8
)
 
(21.4
)
 
(2.7
)
 
(11.5
)
 
 
 
 
 
 
 
 
 
Changes in Net Unrecognized Postretirement Benefit Costs
 
1.4

 
0.6

 
0.7

 
—

Income Tax Benefit (Expense)
 
(0.3
)
 
(0.1
)
 
(0.1
)
 
0.1

Net of Taxes
 
1.1

 
0.5

 
0.6

 
0.1

 
 
 
 
 
 
 
 
 
Changes in Gain (Loss) on Cash Flow Hedges
 
0.1

 
0.1

 
—

 
—

Income Tax Benefit (Expense)
 
—

 
—

 
—

 
—

Net of Taxes
 
0.1

 
0.1

 
—

 
—

 
 
 
 
 
 
 
 
 
Total Other Comprehensive Income (Loss)
 
204.0

 
322.8

 
408.0

 
159.3

Total Income Tax Benefit (Expense)
 
(42.8
)
 
(67.7
)
 
(85.6
)
 
(33.3
)
Total Other Comprehensive Income (Loss), Net of Taxes
 
$
161.2

 
$
255.1

 
$
322.4

 
$
126.0



The components of AOCI at June 30, 2020 and December 31, 2019 were:
(Dollars in Millions)
 
Jun 30,
2020
 
Dec 31,
2019
Net Unrealized Gains on Investments, Net of Income Taxes:
 
 
 
 
No Credit Losses Recognized in Condensed Consolidated Statements of Income
 
$
602.3

 
$
439.4

Credit Losses Recognized in Condensed Consolidated Statements of Income

 
(2.9
)
 
—

Net Unrecognized Postretirement Benefit Costs, Net of Income Taxes
 
(99.5
)
 
(100.6
)
Loss on Cash Flow Hedges, Net of Income Taxes
 
(2.6
)
 
(2.7
)
Accumulated Other Comprehensive Income
 
$
497.3

 
$
336.1


Note 8 - Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (continued)
Components of AOCI were reclassified to the following lines of the Condensed Consolidated Statements of Income for the six and three months ended June 30, 2020 and 2019:
 
 
Six Months Ended
 
Three Months Ended
(Dollars in Millions)
 
Jun 30,
2020
 
Jun 30,
2019
 
Jun 30,
2020
 
Jun 30,
2019
Reclassification of AOCI from Net Unrealized Gains on Investments to:
 
 
 
 
 
 
 
 
Net Realized Gains on Sales of Investments
 
$
26.4

 
$
37.4

 
$
10.5

 
$
21.3

Impairment Losses
 
(19.0
)
 
(10.3
)
 
(7.0
)
 
(6.7
)
Total Before Income Taxes
 
7.4

 
27.1

 
3.5

 
14.6

Income Tax Expense
 
(1.6
)
 
(5.7
)
 
(0.8
)
 
(3.1
)
Reclassification from AOCI, Net of Income Taxes
 
5.8

 
21.4

 
2.7

 
11.5

Reclassification of AOCI from Unrecognized Postretirement Benefit Costs to:
 
 
 
 
 
 
 
 
Interest and Other Expenses
 
(1.4
)
 
0.6

 
(0.7
)
 
—

Income Tax Benefit (Expense)
 
0.3

 
(0.1
)
 
0.1

 
0.1

Reclassification from AOCI, Net of Income Taxes
 
(1.1
)
 
0.5

 
(0.6
)
 
0.1

Reclassification of AOCI from Loss on Cash Flow Hedges to:
 
 
 
 
 
 
 
 
Interest and Other Expenses
 
(0.1
)
 
0.1

 
—

 
—

Income Tax Benefit
 
—

 
—

 
—

 
—

Reclassification from AOCI, Net of Income Taxes
 
(0.1
)
 
0.1

 
—

 
—

Total Reclassification from AOCI to Net Income
 
$
4.6

 
$
22.0

 
$
2.1

 
$
11.6