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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 6 Months Ended
Jun. 30, 2020
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
 
(152,671
)
 
39

 
(11,567
)
 
(164,199
)
Amounts reclassified to net income (loss) (c)
 
5,849

 
7,084

 
363

 
13,296

Other comprehensive income (loss)
 
(146,822
)
 
7,123

 
(11,204
)
 
(150,903
)
June 30, 2020
 
$
(380,342
)
 
$
(124,358
)
 
$
(20,203
)
 
$
(524,903
)
(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.
Schedule of Accumulated Other Comprehensive Loss for Risk-Management Assets/Liabilities [Table Text Block]
The following table sets forth information about the balance of accumulated other comprehensive loss at June 30, 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 18 months (b)
 
$
12,317

Settled interest-rate swaps to be recognized over the life of the long-term, fixed-rate debt (c)
 
(206,931
)
Interest-rate swaps with future settlement dates expected to be amortized over the life of long-term debt
 
(185,728
)
Accumulated other comprehensive loss at June 30, 2020
 
$
(380,342
)
(a) - All amounts are presented net of tax.
(b) - Based on June 30, 2020, commodity prices, we expect to realize $12.6 million in net gains, net of tax, over the next 12 months and $0.3 million in net losses, net of tax, thereafter.
(c) - We expect losses of $30.0 million, net of tax, will be reclassified into earnings during the next 12 months as the hedged items affect earnings.