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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Notes)
 3 Months Ended
Mar. 31, 2020
ACCUMULATED OTHER COMPREHENSIVE 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, 2020
 
$
(233,520
)
 
$
(131,481
)
 
$
(8,999
)
 
$
(374,000
)
Other comprehensive income (loss) before reclassifications
 
(106,141
)
 
20

 
(7,777
)
 
(113,898
)
Amounts reclassified to net income (loss) (c)
 
(15,164
)
 
3,542

 
134

 
(11,488
)
Other comprehensive income (loss)
 
(121,305
)
 
3,562

 
(7,643
)
 
(125,386
)
March 31, 2020
 
$
(354,825
)
 
$
(127,919
)
 
$
(16,642
)
 
$
(499,386
)
(a) - All amounts are presented net of tax.
(b) - Includes amounts related to supplemental executive retirement plan.
(c) - See Note C for details of amounts reclassified to net income (loss) for risk-management assets/liabilities and Note H for retirement and other postretirement benefit plan obligations.

The following table sets forth information about the balance of accumulated other comprehensive loss at March 31, 2020, 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 21 months (b)
 
$
72,180

Settled interest-rate swaps to be recognized over the life of the long-term, fixed-rate debt (c)
 
(218,877
)
Interest-rate swaps with future settlement dates expected to be amortized over the life of long-term debt
 
(208,128
)
Accumulated other comprehensive loss at March 31, 2020
 
$
(354,825
)
(a) - All amounts are presented net of tax.
(b) - Based on March 31, 2020, commodity prices, we expect to realize $73.0 million in net gains, net of tax, over the next 12 months and $0.8 million in net losses, net of tax, thereafter.
(c) - We expect losses of $29.4 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.