Huntington National Bank 2004 Annual Report Download - page 118

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS HUNTINGTON BANCSHARES INCORPORATED
14. OTHER COMPREHENSIVE INCOME
The components of Huntington’s Other Comprehensive Income in each of the three years ended December 31 were as follows:
Year Ended December 31,
(in thousands of dollars) 2004 2003 2002
Unrealized holding gains and losses on securities available for sale arising during the period:
Unrealized net (losses) gains $(18,555) $(67,520) $ 46,655
Related tax benefit (expense) 6,689 23,511 (16,082)
Net (11,866) (44,009) 30,573
Reclassification adjustment for net gains from sales of securities available for sale realized
during the period:
Realized net gains (15,763) (5,258) (4,902)
Related tax expense 5,517 1,840 1,716
Net (10,246) (3,418) (3,186)
Total unrealized holding (losses) gains on securities available for sale arising during the
period, net of reclassification adjustment for net gains included in net income (22,112) (47,427) 27,387
Unrealized holding gains and losses on derivatives used in cash flow hedging relationships
arising during the period:
Unrealized net gains (losses) 14,914 (17,048) 14,799
Related tax (expense) benefit (5,220) 5,967 (5,179)
Net 9,694 (11,081) 9,620
Minimum pension liability:
Unrealized net loss (1,789) (1,714) (300)
Related tax benefit 626 600 105
Net (1,163) (1,114) (195)
Total Other Comprehensive (Loss) Income $(13,581) $(59,622) $ 36,812
Activity in Accumulated Other Comprehensive Income for the most recent three years is as follows:
Unrealized gains and Unrealized gains and losses on
losses on securities derivative instruments used in Minimum
(in thousands of dollars) available for sale cash flow hedging relationships pension liability Total
Balance, January 1, 2002 $ 29,469 $ (3,981) $ — $ 25,488
Current period change 27,387 9,620 (195) 36,812
Balance, December 31, 2002 56,856 5,639 (195) 62,300
Current period change (47,427) (11,081) (1,114) (59,622)
Balance, December 31, 2003 9,429 (5,442) (1,309) 2,678
Current period change (22,112) 9,694 (1,163) (13,581)
Balance, December 31, 2004 $ (12,683) $ 4,252 $ (2,472) $ (10,903)
116