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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ACCUMULATED OTHER COMPREHENSIVE INCOME (Notes)
 6 Months Ended
Jun. 30, 2019
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
ACCUMULATED OTHER COMPREHENSIVE LOSS

The following table sets forth the balance in accumulated other comprehensive loss for the period indicated:
 
 
Risk-
Management
Assets/Liabilities (a)
 
Retirement and Other
Postretirement
Benefit Plan
Obligations (a) (b)
 
Risk-
Management
Assets/Liabilities of
Unconsolidated
Affiliates (a)
 
Accumulated
Other
Comprehensive
Loss (a)
 
 
(Thousands of dollars)
January 1, 2019
 
$
(64,660
)
 
$
(121,785
)
 
$
(1,794
)
 
$
(188,239
)
Other comprehensive income (loss) before reclassifications
 
(125,973
)
 
(84
)
 
(6,122
)
 
(132,179
)
Amounts reclassified to net income
 
(20,796
)
 
4,890

 
(72
)
 
(15,978
)
Other comprehensive income (loss)
 
(146,769
)
 
4,806

 
(6,194
)
 
(148,157
)
June 30, 2019
 
$
(211,429
)
 
$
(116,979
)
 
$
(7,988
)
 
$
(336,396
)

(a) - All amounts are presented net of tax.
(b) - Includes amounts related to supplemental executive retirement plan.

The following table sets forth information about the balance of accumulated other comprehensive loss at June 30, 2019, representing unrealized gains (losses) related to risk-management assets and liabilities:
 
 
Risk-
Management
Assets/Liabilities (a)
 
 
(Thousands of dollars)
Commodity derivative instruments expected to be realized within the next 18 months (b)
 
$
19,756

Settled interest-rate swaps to be recognized over the life of the long-term, fixed-rate debt (c)
 
(33,341
)
Interest-rate swaps with future settlement dates expected to be amortized over the life of long-term debt
 
(197,844
)
Accumulated other comprehensive loss at June 30, 2019
 
$
(211,429
)
(a) - All amounts are presented net of tax.
(b) - Based on June 30, 2019, commodity prices, we will realize $18.6 million in net gains, net of tax, over the next 12 months and $1.2 million in net gains, net of tax, thereafter.
(c) - Losses of $13.8 million, net of tax, will be reclassified into earnings during the next 12 months as the hedged items affect earnings.

The remaining amounts in accumulated other comprehensive loss relate primarily to our retirement and other postretirement benefit plan obligations, which are expected to be amortized over the average remaining service period of employees participating in these plans.

The following table sets forth the effect of reclassifications from accumulated other comprehensive loss to net income for the periods indicated:
Details about Accumulated Other
Comprehensive Loss
Components
 
Three Months Ended
 
Six Months Ended
 
Affected Line Item in the
Consolidated
Statements of Income
 
June 30,
 
June 30,
 
 
2019
 
2018
 
2019
 
2018
 
 
 
(Thousands of dollars)
 
 
Risk-management assets/liabilities
 
 
 
 
 
 
 
 
 
 
Commodity contracts
 
$
15,244

 
$
(10,189
)
 
$
34,096

 
$
(21,800
)
 
Commodity sales revenues/cost of sales and fuel
Interest-rate contracts
 
(4,815
)
 
(5,602
)
 
(7,319
)
 
(9,545
)
 
Interest expense
 
 
10,429

 
(15,791
)
 
26,777

 
(31,345
)
 
Income before income taxes
 
 
(1,804
)
 
3,631

 
(5,981
)
 
7,209

 
Income taxes
 
 
$
8,625

 
$
(12,160
)
 
$
20,796

 
$
(24,136
)
 
Net income
 
 
 
 
 
 
 
 
 
 
 
Retirement and other postretirement benefit plan obligations (a)
 
 
 
 
 
 
 
 
 
 
Amortization of net loss
 
$
(3,232
)
 
$
(4,592
)
 
$
(6,464
)
 
$
(9,184
)
 
Other income (expense)
Amortization of unrecognized prior service credit
 
57

 
415

 
114

 
830

 
Other income (expense)
 
 
(3,175
)
 
(4,177
)
 
(6,350
)
 
(8,354
)
 
Income before income taxes
 
 
730

 
960

 
1,460

 
1,921

 
Income taxes
 
 
$
(2,445
)
 
$
(3,217
)
 
$
(4,890
)
 
$
(6,433
)
 
Net income
 
 
 
 
 
 
 
 
 
 
 
Risk-management assets/liabilities of unconsolidated affiliates
 
 
 
 
 
 
 
 
 
 
Interest-rate contracts
 
$
18

 
$
66

 
$
93

 
$
19

 
Equity in net earnings from investments
 
 
(4
)
 
(15
)
 
(21
)
 
(4
)
 
Income taxes
 
 
$
14

 
$
51

 
$
72

 
$
15

 
Net income
 
 
 
 
 
 
 
 
 
 
 
Total reclassifications for the period
 
$
6,194

 
$
(15,326
)
 
$
15,978

 
$
(30,554
)
 
Net income

(a) - These components of accumulated other comprehensive loss are included in the computation of net periodic benefit cost. See Note H for additional detail of our net periodic benefit cost.