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Other Comprehensive Income:

3 Months Ended

Mar. 31, 2021

Statement of Comprehensive Income [Abstract]

Other Comprehensive Income

Other Comprehensive Income

We record deferred gains (losses) in AOCI related to interest rate swaps designated as cash flow hedges, commodity contracts designated as cash flow hedges and the amortization of components of our defined benefit plans. Deferred gains (losses) for our commodity contracts designated as cash flow hedges are recognized in earnings upon settlement, while deferred gains (losses) related to our interest rate swaps are recognized in earnings as they are amortized.

The following table details reclassifications out of AOCI and into Net income. The amounts in parentheses below indicate decreases to Net income in the Condensed Consolidated Statements of Income for the period (in thousands):

			Location on the Condensed Consolidated Statements of Income												Amount Reclassified from AOCI
												Three Months Ended March 31,
															2021			2020
Gains and (losses) on cash flow hedges:
Interest rate swaps			Interest expense												$	(713)		$	(713)
Commodity contracts			Fuel, purchased power and cost of natural gas sold												(31)			(486)
															(744)			(1,199)
Income tax			Income tax benefit												198			285
Total reclassification adjustments related to cash flow hedges, net of tax															$	(546)		$	(914)
Amortization of components of defined benefit plans:
Prior service cost			Operations and maintenance												$	25		$	30
Actuarial gain (loss)			Operations and maintenance												(598)			(597)
															(573)			(567)
Income tax			Income tax benefit												208			88
Total reclassification adjustments related to defined benefit plans, net of tax															$	(365)		$	(479)
Total reclassifications															$	(911)		$	(1,393)

Balances by classification included within AOCI, net of tax on the accompanying Condensed Consolidated Balance Sheets were as follows (in thousands):

			Derivatives Designated as Cash Flow Hedges
			Interest Rate Swaps			Commodity Derivatives			Employee Benefit Plans			Total
As of December 31, 2020			$	(12,558)		$	2		$	(14,790)		$	(27,346)
Other comprehensive income (loss)
before reclassifications			—			107			—			107
Amounts reclassified from AOCI			523			23			365			911
As of March 31, 2021			$	(12,035)		$	132		$	(14,425)		$	(26,328)
			Derivatives Designated as Cash Flow Hedges
			Interest Rate Swaps			Commodity Derivatives			Employee Benefit Plans			Total
As of December 31, 2019			$	(15,122)		$	(456)		$	(15,077)		$	(30,655)
Other comprehensive income (loss)
before reclassifications			—			(175)			55			(120)
Amounts reclassified from AOCI			543			371			479			1,393
As of March 31, 2020			$	(14,579)		$	(260)		$	(14,543)		$	(29,382)

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- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-URI http://asc.fasb.org/topic&trid=2134417

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

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X

- References

No definition available.

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