Other Comprehensive Income:

12 Months Ended

Dec. 31, 2021

Statement of Comprehensive Income [Abstract]

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 Consolidated Statements of Income for the period, net of tax (in thousands):


	Location on the Consolidated Statements of Income	Amount Reclassified from AOCI
		December 31, 2021		December 31, 2020
Gains and (losses) on cash flow hedges:
Interest rate swaps	Interest expense	$	(2,851)	$	(2,851)
Commodity contracts	Fuel, purchased power and cost of natural gas sold	2,051		(601)
		(800)		(3,452)
Income tax	Income tax benefit (expense)	175		383
Total reclassification adjustments related to cash flow hedges, net of tax		$	(625)	$	(3,069)

Amortization of components of defined benefit plans:
Prior service cost	Operations and maintenance	$	98	$	103

Actuarial gain (loss)	Operations and maintenance	(2,391)		(2,387)
		(2,293)		(2,284)
Income tax	Income tax benefit (expense)	638		935
Total reclassification adjustments related to defined benefit plans, net of tax		$	(1,655)	$	(1,349)

Total reclassifications		$	(2,280)	$	(4,418)

Balances by classification included within AOCI, net of tax on the accompanying 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	—		3,023		1,959		4,982
Amounts reclassified from AOCI	2,174		(1,549)		1,655		2,280

As of December 31, 2021	$	(10,384)	$	1,476	$	(11,176)	$	(20,084)

	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	—		(47)		(1,062)		(1,109)
Amounts reclassified from AOCI	2,564		505		1,349		4,418


As of December 31, 2020	$	(12,558)	$	2	$	(14,790)	$	(27,346)