SunTrust 2007 Annual Report Download - page 150

Download and view the complete annual report

Please find page 150 of the 2007 SunTrust annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 168

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168

SUNTRUST BANKS, INC.
Notes to Consolidated Financial Statements (Continued)
Note 23 – Accumulated Other Comprehensive Income
(Dollars in thousands)
Pre-tax
Amount
Income
Tax
(Expense)
Benefit
After-tax
Amount
Accumulated Other Comprehensive Income
Accumulated other comprehensive income, January 1, 2005 $1,964,539 ($687,589) $1,276,950
Unrealized net loss on securities (576,888) 219,217 (357,671)
Unrealized net loss on derivatives (24,253) 9,216 (15,037)
Change related to employee benefit plans 6,561 (2,493) 4,068
Reclassification adjustment for realized gains and losses on securities 41,109 (15,621) 25,488
Reclassification adjustment for realized gains and losses on derivatives 6,924 (2,631) 4,293
Accumulated other comprehensive income, December 31, 2005 1,417,992 (479,901) 938,091
Unrealized net gain on securities 474,003 (180,121) 293,882
Unrealized net gain on derivatives 52,674 (20,016) 32,658
Change related to employee benefit plans 9,482 (3,603) 5,879
Adoption of SFAS No. 158 (621,011) 235,984 (385,027)
Reclassification adjustment for realized gains and losses on securities 59,499 (22,610) 36,889
Reclassification adjustment for realized gains and losses on derivatives 5,770 (2,193) 3,577
Accumulated other comprehensive income, December 31, 2006 1,398,409 (472,460) 925,949
Unrealized net gain on securities 666,387 (253,227) 413,160
Unrealized net gain on derivatives 240,816 (91,510) 149,306
Change related to employee benefit plans 113,550 (43,149) 70,401
Adoption of SFAS No. 159 231,211 (83,837) 147,374
Pension plan changes and resulting remeasurement 128,560 (48,853) 79,707
Reclassification adjustment for realized gains and losses on securities (272,861) 103,687 (169,174)
Reclassification adjustment for realized gains and losses on derivatives (15,442) 5,868 (9,574)
Accumulated other comprehensive income, December 31, 2007 $2,490,630 ($883,481) $1,607,149
The components of accumulated other comprehensive income at December 31 were as follows:
(Dollars in thousands) 2007 2006 2005
Unrealized net gain on available for sale securities 1,693,947 1,302,588 971,817
Unrealized net gain/(loss) on derivative financial instruments 158,628 18,896 (17,339)
Employee benefit plans (245,426) (395,535) (16,387)
Total accumulated other comprehensive income 1,607,149 925,949 938,091
138