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Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income | 6 Months Ended
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Jun. 30, 2021
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, 2021 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 Year |  | $ | 730.6 |  |  | $ | (2.1) |  |  | $ | (45.7) |  |  | $ | (2.3) |  |  | $ | 680.5 |
Other Comprehensive Income (Loss) Before Reclassification Adjustment, Net of Tax |  | (116.3) |  |  | (1.9) |  |  | — |  |  | — |  |  | $ | (118.2) |
Reclassification Adjustment for Amounts Included in Net Income, Net of Tax |  | (20.3) |  |  | — |  |  | 0.8 |  |  | 0.2 |  |  | $ | (19.3) |
Other Comprehensive Income (Loss), Net of Tax |  | (136.6) |  |  | (1.9) |  |  | 0.8 |  |  | 0.2 |  |  | (137.5) |
Balance at End of Period |  | $ | 594.0 |  |  | $ | (4.0) |  |  | $ | (44.9) |  |  | $ | (2.1) |  |  | $ | 543.0 |
The components of Other Comprehensive Income (Loss) and AOCI for the three months ended June 30, 2021 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 |  | 441.4 |  | $ | (3.8) |  |  | $ | (44.9) |  |  | $ | (2.2) |  |  | $ | 390.5 |
Other Comprehensive Income (Loss) Before Reclassification Adjustment, Net of Tax |  | 165.2 |  |  | (0.2) |  |  | — |  |  | — |  |  | $ | 165.0 |
Reclassification Adjustment for Amounts Included in Net Income, Net of Tax |  | (12.6) |  |  | — |  |  | — |  |  | 0.1 |  |  | $ | (12.5) |
Other Comprehensive Income (Loss), Net of Tax |  | 152.6 |  |  | (0.2) |  |  | — |  |  | 0.1 |  |  | 152.5 |
Balance at End of Period |  | $ | 594.0 |  |  | $ | (4.0) |  |  | $ | (44.9) |  |  | $ | (2.1) |  |  | $ | 543.0 |
Note 9 - 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, 2021 and 2020 were:
|  | Six Months Ended |  | Three Months Ended
(Dollars in Millions) |  | Jun 30, 2021 |  | Jun 30, 2020 |  | Jun 30, 2021 |  | Jun 30, 2020
Changes in Net Unrealized Gains (Losses) on Investment Securities: |  |  |  |  |  |  |  |
Having No Credit Losses Recognized in Condensed Consolidated Statements of Income |  | $ | (147.5) |  |  | $ | 213.6 |  |  | $ | 206.7 |  |  | $ | 411.6 |
Income Tax Benefit (Expense) |  | 31.2 |  |  | (44.9) |  |  | (41.5) |  |  | (86.5) |
Net of Taxes |  | (116.3) |  |  | 168.7 |  |  | 165.2 |  |  | 325.1 |
Having Credit Losses Recognized in Condensed Consolidated Statements of Income |  | (2.4) |  |  | (3.7) |  |  | (0.3) |  |  | (0.8) |
Income Tax Benefit (Expense) |  | 0.5 |  |  | 0.8 |  |  | 0.1 |  |  | 0.2 |
Net of Taxes |  | (1.9) |  |  | (2.9) |  |  | (0.2) |  |  | (0.6) |
Reclassification Adjustment for Amounts Included in Net Income |  | (25.7) |  |  | (7.4) |  |  | (15.9) |  |  | (3.5) |
Income Tax Benefit (Expense) |  | 5.4 |  |  | 1.6 |  |  | 3.3 |  |  | 0.8 |
Net of Taxes |  | (20.3) |  |  | (5.8) |  |  | (12.6) |  |  | (2.7) |
Changes in Net Unrecognized Postretirement Benefit Costs |  | 0.4 |  |  | 1.4 |  |  | 0.1 |  |  | 0.7 |
Income Tax Benefit (Expense) |  | 0.4 |  |  | (0.3) |  |  | (0.1) |  |  | (0.1) |
Net of Taxes |  | 0.8 |  |  | 1.1 |  |  | — |  |  | 0.6 |
Changes in Gain (Loss) on Cash Flow Hedges |  | 0.2 |  |  | 0.1 |  |  | 0.1 |  |  | — |
Income Tax Benefit (Expense) |  | — |  |  | — |  |  | — |  |  | — |
Net of Taxes |  | 0.2 |  |  | 0.1 |  |  | 0.1 |  |  | — |
Total Other Comprehensive Income (Loss) Before Income Taxes |  | (175.0) |  |  | 204.0 |  |  | 190.7 |  |  | 408.0 |
Total Income Tax Benefit (Expense) |  | 37.5 |  |  | (42.8) |  |  | (38.2) |  |  | (85.6) |
Total Other Comprehensive Income (Loss), Net of Taxes |  | $ | (137.5) |  |  | $ | 161.2 |  |  | $ | 152.5 |  |  | $ | 322.4 |
Note 9 - 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, 2021 and 2020:
|  | Six Months Ended |  | Three Months Ended
(Dollars in Millions) |  | Jun 30, 2021 |  | Jun 30, 2020 |  | Jun 30, 2021 |  | Jun 30, 2020
Reclassification of AOCI from Net Unrealized Gains on Investments to: |  |  |  |  |  |  |  |
Net Realized Gains on Sales of Investments |  | $ | 32.9 |  |  | $ | 26.4 |  |  | $ | 19.1 |  |  | $ | 10.5 |
Impairment Losses |  | (7.2) |  |  | (19.0) |  |  | (3.2) |  |  | (7.0) |
Total Before Income Taxes |  | 25.7 |  |  | 7.4 |  |  | 15.9 |  |  | 3.5 |
Income Tax Benefit (Expense) |  | (5.4) |  |  | (1.6) |  |  | (3.3) |  |  | (0.8) |
Reclassification from AOCI, Net of Income Taxes |  | 20.3 |  |  | 5.8 |  |  | 12.6 |  |  | 2.7 |
Reclassification of AOCI from Unrecognized Postretirement Benefit Costs to: |  |  |  |  |  |  |  |
Interest and Other Expenses |  | (0.4) |  |  | (1.4) |  |  | (0.1) |  |  | (0.7) |
Income Tax Benefit (Expense) |  | (0.4) |  |  | 0.3 |  |  | 0.1 |  |  | 0.1 |
Reclassification from AOCI, Net of Income Taxes |  | (0.8) |  |  | (1.1) |  |  | — |  |  | (0.6) |
Reclassification of AOCI from Loss on Cash Flow Hedges to: |  |  |  |  |  |  |  |
Interest and Other Expenses |  | (0.2) |  |  | (0.1) |  |  | (0.1) |  |  | — |
Income Tax Benefit (Expense) |  | — |  |  | — |  |  | — |  |  | — |
Reclassification from AOCI, Net of Income Taxes |  | (0.2) |  |  | (0.1) |  |  | (0.1) |  |  | — |
Total Reclassification from AOCI to Net Income |  | $ | 19.3 |  |  | $ | 4.6 |  |  | $ | 12.5 |  |  | $ | 2.1 |

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
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