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16. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The other comprehensive (loss) income consists of the following
components:
Year Ended December 31, 2014
(in thousands) Before-Tax
Amount Income
Tax After-Tax
Amount
Foreign currency translation
adjustments
Translation adjustments arising
during the year ............. $ (16,061) $ — $ (16,061)
Adjustment for sales of businesses
with foreign operations ....... (404) — (404)
(16,465) — (16,465)
Unrealized gains on available-
for-sale securities
Unrealized gains for the year .... 62,719 (25,088) 37,631
Reclassification adjustment for
realization of (gain) loss on
exchange, sale or write-down of
available-for-sale securities
included in net income ....... (265,274) 106,110 (159,164)
(202,555) 81,022 (121,533)
Pension and other postretirement
plans
Actuarial loss ................ (149,482) 59,792 (89,690)
Prior service cost ............. (1,600) 640 (960)
Amortization of net actuarial gain
included in net income ....... (29,412) 11,765 (17,647)
Amortization of net prior service
credit included in net income . . . (407) 163 (244)
Curtailments and settlements ..... 8 (3) 5
(180,893) 72,357 (108,536)
Cash flow hedge
Gain for the year ............. 867 (347) 520
Other Comprehensive Loss ..... $(399,046) $153,032 $(246,014)
Year Ended December 31, 2013
(in thousands) Before-Tax
Amount Income
Tax After-Tax
Amount
Foreign currency translation
adjustments
Translation adjustments arising
during the year ............ $ (1,059) $ — $ (1,059)
Unrealized gains on available-
for-sale securities
Unrealized gains for the year .... 95,629 (38,251) 57,378
Reclassification adjustment for
write-down on available-for-sale
securities, net of gain, included
in net income ............. 9,554 (3,822) 5,732
105,183 (42,073) 63,110
Pension and other postretirement
plans
Actuarial gain ............... 762,806 (305,123) 457,683
Amortization of net actuarial loss
included in net income ....... 3,096 (1,238) 1,858
Amortization of net prior service
credit included in net
income .................. (1,383) 553 (830)
Curtailments and settlements .... (124,051) 49,617 (74,434)
640,468 (256,191) 384,277
Cash flow hedge
Gain for the year ............ 520 (208) 312
Other Comprehensive Income . . $ 745,112 $(298,472) $446,640
Year Ended December 31, 2012
(in thousands) Before-Tax
Amount Income
Tax After-Tax
Amount
Foreign currency translation
adjustments
Translation adjustments arising
during the year .............. $ 5,622 $ — $ 5,622
Adjustment for sales of businesses
with foreign operations ........ (888) — (888)
4,734 — 4,734
Unrealized gains on available-
for-sale securities
Unrealized gains for the year ..... 33,098 (13,239) 19,859
Reclassification adjustment for write-
down on available-for-sale
securities, net of gain, included in
net income ................. 17,226 (6,890) 10,336
50,324 (20,129) 30,195
Pension and other postretirement
plans
Actuarial gain ................ 82,470 (32,987) 49,483
Amortization of net actuarial
loss included in net income ..... 9,368 (3,746) 5,622
Amortization of net prior service
credit included in net income .... (1,859) 744 (1,115)
Other adjustments ............. (745) 299 (446)
89,234 (35,690) 53,544
Cash flow hedge
Loss for the year ............... (1,581) 633 (948)
Other Comprehensive Income ..... $142,711 $(55,186) $87,525
2014 FORM 10-K 83