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Investment in Qualified Affordable Housing (Notes) | 9 Months Ended
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Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract] |
Affordable Housing Program [Text Block] | Investment in Qualified Affordable Housing Park makes certain equity investments in various limited partnerships that sponsor affordable housing projects. The purpose of these investments is to achieve a satisfactory return on capital, help create affordable housing opportunities, and to assist the Company to achieve our goals associated with the Community Reinvestment Act. Previously, these investments were accounted for under the cost method of accounting with amortization of the investment being recorded in miscellaneous other expense and tax benefits recognized in the provision for income taxes. During the first quarter of 2015, Park adopted ASU 2014-01, Accounting for Investments in Qualified Affordable Housing Projects, and elected the proportional amortization method with amortization expense and tax benefits recognized through the provision for income taxes. This ASU is required to be applied retrospectively to all periods presented. As a result of these changes, Park recorded a cumulative-effect adjustment to beginning retained earnings. The following table summarizes the impact of retrospective application to the balance sheet and income statement for all periods presented as well as the year ended December 31, 2014:
(in thousands) |  | December 31, 2014 |
Other assets |  |
As previously reported (which included $45.4 million of affordable housing tax credit investments) |  | $ | 140,803 |
As reported under the new guidance |  | 138,746 |
Total assets |  |
As previously reported |  | $ | 7,003,256 |
As reported under the new guidance |  | 7,001,199 |
Retained earnings |  |
As previously reported |  | $ | 486,541 |
As reported under the new guidance |  | 484,484 |
Total equity |  |
As previously reported |  | $ | 698,598 |
As reported under the new guidance |  | 696,541 |
(in thousands) |  | 3 months ended September 30, 2014 | 9 months ended September 30, 2014 | 12 months ended December 31, 2014
Total other expense |  |  |  |
As previously reported |  | $ | 46,903 |  | $ | 142,797 |  | $ | 195,234 |
As reported under the new guidance |  | 44,972 |  | 136,992 |  | 187,510 |
Income tax expense |  |  |  |
As previously reported |  | $ | 6,398 |  | $ | 19,903 |  | $ | 28,602 |
As reported under the new guidance |  | 8,363 |  | 25,801 |  | 36,459 |
Net income |  |  |  |
As previously reported |  | $ | 18,303 |  | $ | 59,749 |  | $ | 84,090 |
As reported under the new guidance |  | 18,269 |  | 59,656 |  | 83,957 |
The table below details the balances of Park’s affordable housing tax credit investments and related unfunded commitments as of September 30, 2015 and December 31, 2014.
(in thousands) |  | September 30, 2015 | December 31, 2014
Affordable housing tax credit investments |  | $ | 52,731 |  | $ | 48,911 |
Unfunded commitments |  | 21,339 |  | 16,629 |
During each of the three months ended September 30, 2015 and 2014, Park recognized amortization expense of $1.7 million which was included within the provision for income taxes. During each of the nine months ended September 30, 2015 and 2014, Park recognized amortization expense of $5.2 million which was included within the provision for income taxes. Additionally, during the three months ended September 30, 2015 and 2014, Park recognized tax credits and other benefits from its affordable housing tax credit investments of $2.3 million and $2.2 million, respectively. For the nine months ended September 30, 2015 and 2014, Park recognized tax credits and other benefits from its affordable housing tax credit investments of $6.8 million and $6.6 million, respectively.

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