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Other Comprehensive Income (Loss) (Tables) | 6 Months Ended
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Jun. 30, 2024
Other Comprehensive Income (Loss), before Tax [Abstract] |
Schedule of Components and Allocated Tax Effects of OCI | The components and allocated tax effects of other comprehensive income (loss) are as follows:
|  | Before-Tax |  | Tax Expense (Benefit) |  | After-Tax
|  | (In thousands)
Three Months Ended June 30, 2024 |  |  |  |  |  |
Net change in foreign currency translation adjustment |  | $ | (5,241) |  |  | $ | (1,101) |  |  | $ | (4,140) |
Net unrealized loss on hedging instruments |  | (456) |  |  | (110) |  |  | (346) |
Net change in pension and other post-retirement benefit obligations |  | (716) |  |  | (166) |  |  | (550) |
Other comprehensive loss attributable to HF Sinclair stockholders |  | $ | (6,413) |  |  | $ | (1,377) |  |  | $ | (5,036) |
Three Months Ended June 30, 2023 |  |  |  |  |  |
Net change in foreign currency translation adjustment |  | $ | 9,852 |  |  | $ | 2,076 |  |  | $ | 7,776 |
Net unrealized loss on hedging instruments |  | (271) |  |  | (66) |  |  | (205) |
Net change in pension and other post-retirement benefit obligations |  | (960) |  |  | (233) |  |  | (727) |
Other comprehensive income attributable to HF Sinclair stockholders |  | $ | 8,621 |  |  | $ | 1,777 |  |  | $ | 6,844 |
|  | Before-Tax |  | Tax Expense (Benefit) |  | After-Tax
|  | (In thousands)
Six Months Ended June 30, 2024 |  |  |  |  |  |
Net change in foreign currency translation adjustment |  | $ | (17,847) |  |  | $ | (3,744) |  |  | $ | (14,103) |
Net unrealized loss on hedging activities |  | (456) |  |  | (110) |  |  | (346) |
Net change in pension and other post-retirement benefit obligations |  | (1,415) |  |  | (335) |  |  | (1,080) |
Other comprehensive loss attributable to HF Sinclair stockholders |  | $ | (19,718) |  |  | $ | (4,189) |  |  | $ | (15,529) |
Six Months Ended June 30, 2023 |  |  |  |  |  |
Net change in foreign currency translation adjustment |  | $ | 12,778 |  |  | $ | 2,690 |  |  | $ | 10,088 |
Net change in pension and other post-retirement benefit obligations |  | (1,920) |  |  | (466) |  |  | (1,454) |
Other comprehensive income attributable to HF Sinclair stockholders |  | $ | 10,858 |  |  | $ | 2,224 |  |  | $ | 8,634 |
Schedule of Income Statement Line Items Effects Out of AOCI | The following table presents the statements of income line item effects for reclassifications out of accumulated other comprehensive income (“AOCI”):
|  | Three Months Ended June 30, |  |
AOCI Component |  | 2024 |  | 2023 |  | Statement of Income Line Item
|  | (In thousands) |  |
Hedging instruments: |  |  |  |  |  |
Commodity price swaps |  | $ | (305) |  |  | $ | 271 |  |  | Sales and other revenues
|  | (74) |  |  | 66 |  |  | Income tax expense (benefit)
|  | (231) |  |  | 205 |  |  | Net of tax
Other post-retirement benefit obligations: |  |  |  |  |  |
Pension obligations |  | (215) |  |  | 45 |  |  | Gain (loss) on sale of assets and other
|  | (61) |  |  | 11 |  |  | Income tax expense (benefit)
|  | (154) |  |  | 34 |  |  | Net of tax
Post-retirement healthcare obligations |  | 935 |  |  | 918 |  |  | Gain on sale of assets and other
|  | 228 |  |  | 223 |  |  | Income tax expense
|  | 707 |  |  | 695 |  |  | Net of tax
Retirement restoration plan |  | (4) |  |  | (3) |  |  | Loss on sale of assets and other
|  | (1) |  |  | (1) |  |  | Income tax benefit
|  | (3) |  |  | (2) |  |  | Net of tax
Total reclassifications for the period |  | $ | 319 |  |  | $ | 932 |  |  |
|  | Six Months Ended June 30, |  |
AOCI Component |  | 2024 |  | 2023 |  | Statement of Income Line Item
|  | (In thousands) |  |
Hedging instruments: |  |  |  |  |  |
Commodity price swaps |  | $ | (4,592) |  |  | $ | 270 |  |  | Sales and other revenues
|  | (1,113) |  |  | 65 |  | Income tax expense
|  | (3,479) |  |  | 205 |  |  | Net of tax
Other post-retirement benefit obligations: |  |  |  |  |  |
Pension obligations |  | (432) |  |  | 90 |  | Gain (loss) on sale of assets and other
|  | (114) |  |  | 22 |  | Income tax expense
|  | (318) |  |  | 68 |  |  | Net of tax
Post-retirement healthcare obligations |  | 1,857 |  |  | 1,836 |  | Gain on sale of assets and other
|  | 451 |  |  | 445 |  | Income tax expense
|  | 1,406 |  |  | 1,391 |  |  | Net of tax
Retirement restoration plan |  | (10) |  |  | (6) |  |  | Gain on sale of assets and other
|  | (2) |  |  | (1) |  |  | Income tax benefit
|  | (8) |  |  | (5) |  |  | Net of tax
Total reclassifications for the period |  | $ | (2,399) |  |  | $ | 1,659 |  |  |
Schedule of AOCI in Equity | Accumulated other comprehensive loss in the equity section of our consolidated balance sheets includes:
|  | June 30, 2024 |  | December 31, 2023
|  | (In thousands)
Foreign currency translation adjustment |  | $ | (37,129) |  |  | $ | (23,026) |
Unrealized gain on pension obligations |  | 1,051 |  |  | 619 |
Unrealized gain on post-retirement benefit obligations |  | 9,111 |  |  | 10,623 |
Unrealized loss on hedging instruments |  | (346) |  |  | — |
Accumulated other comprehensive loss |  | $ | (27,313) |  |  | $ | (11,784) |

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