Navy Federal Credit Union 2015 Annual Report Download - page 23

Download and view the complete annual report

Please find page 23 of the 2015 Navy Federal Credit Union 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 78

  • 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

Navy Federal Credit Union4
Consolidated Statements of Comprehensive Income
(dollars in thousands) 2015 2014
Net Income $ 872,219 $ 718,830
Other Comprehensive Income/(Loss)
Change in unrecognized pension and postretirement amounts 11,776 (178,801)
Unrealized net holding (losses)/gains arising during the period
on AFS securities (147,744) 250,557
Net unrealized (losses)/gains on cash flow hedge derivatives (7,172) (56,921)
Total Other Comprehensive (Loss)/Income (143,140) 14,835
Total Comprehensive Income $ 729,079 $ 733,665
The accompanying notes are an integral part of these consolidated financial statements.
Consolidated Statements of Changes in Members’ Equity
Accumulated Other Comprehensive
Income/(Loss)
Regular
Reserve
Capital
Reserve
Undivided
Earnings
Pension
Accounting
Adjustments
Available-for-
Sale Securities Derivatives Total Members’
Equity
(dollars in
thousands)
Balance at
December 31, 2013 $ 349,808 $ 6,012,723 $ 50,000 $ (101,559) $ (97,024) $ 23,353 $ 6,237,301
Other
comprehensive
(loss)/income
— — — (178,801) 250,557 (56,921) 14,835
Net income — — 718,830 — — — 718,830
Discretionary
transfer — 718,830 (718,830) — — — —
Other — 957 — — — — 957
Balance at
December 31, 2014 $ 349,808 $ 6,732,510 $ 50,000 $ (280,360) $ 153,533 $ (33,568) $ 6,971,923
Other
comprehensive
income/(loss)
— — — 11,776 (147,744) (7,172) (143,140)
Net income — — 872,219 — — — 872,219
Discretionary
transfer — 872,219 (872,219) — — — —
Balance at
December 31, 2015 $ 349,808 $ 7,604,729 $ 50,000 $ (268,584) $ 5,789 $ (40,740) $ 7,701,002
The accompanying notes are an integral part of these consolidated financial statements.