Huntington National Bank 2011 Annual Report Download - page 182
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retired $702.4 million of junior subordinated debentures, bank subordinated notes, and medium-term notes
resulting in net pre-tax gains of $147.4 million. These transactions have been recorded as gains on early
extinguishment of debt, a reduction of noninterest expense, in the Consolidated Financial Statements.
13. OTHER COMPREHENSIVE INCOME
The components of Huntington’s OCI in the three years ended December 31, were as follows:
2011
Pretax
Tax (expense)
Benefit After-tax
(dollar amounts in thousands)
Noncredit-related impairment recoveries (losses) on debt
securities not expected to be sold ..................... $ 11,537 $ (4,038) $ 7,499
Unrealized holding gains (losses) on available-for-sale debt
securities arising during the period .................... 95,586 (33,455) 62,131
Less: Reclassification adjustment for net losses (gains)
included in net income ............................. 3,681 (1,288) 2,393
Net change in unrealized holding gains (losses) on
available-for-sale debt securities ...................... 110,804 (38,781) 72,023
Net change in unrealized holding gains (losses) on
available-for-sale equity securities .................... 612 (215) 397
Net unrealized gains and losses on derivatives used in cash
flow hedging relationships arising during the period ...... 7,982 (2,794) 5,188
Change in pension and post-retirement benefit plan assets and
liabilities ........................................ (82,885) 29,010 (53,875)
Total other comprehensive (loss) income ............... $ 36,513 $(12,780) $ 23,733
2010
Pretax
Tax (expense)
Benefit After-tax
(dollar amounts in thousands)
Cumulative effect of change in accounting principle for
consolidation of variable interest entities $ (6,365) $ 2,116 $ (4,249)
Noncredit-related impairment (losses) recoveries on debt
securities not expected to be sold ..................... 23,569 (8,249) 15,320
Unrealized holding gains (losses) on available-for-sale debt
securities arising during the period .................... (14,498) 5,019 (9,479)
Less: Reclassification adjustment for net losses (gains)
included in net income ............................. 274 (96) 178
Net change in unrealized holding gains (losses) on
available-for-sale debt securities ...................... 9,345 (3,326) 6,019
Net change in unrealized holding gains (losses) on
available-for-sale equity securities .................... (162) 57 (105)
Net unrealized gains and losses on derivatives used in cash
flow hedging relationships arising during the period ...... (35,623) 12,468 (23,155)
Change in pension and post-retirement benefit plan assets and
liabilities ........................................ (29,263) 10,242 (19,021)
Total other comprehensive income (loss) ............... $ (62,068) $ 21,557 $(40,511)
168