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Other Comprehensive Income | 9 Months Ended
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Sep. 30, 2024
Statement of Comprehensive Income [Abstract] |
Other Comprehensive Income | (9) Other Compr ehensive 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:
|  | Amount Reclassified from AOCI |  | Amount Reclassified from AOCI |
| Location on the Consolidated Statements of Income | Three Months Ended September 30, |  | Nine Months Ended September 30, |
|  | 2024 |  | 2023 |  | 2024 |  | 2023 |
|  | (in millions) |
Gains and (losses) on cash flow hedges: |  |  |  |  |  |  |  |  |
Interest rate swaps | Interest expense | $ | (0.8 | ) | $ | (0.7 | ) | $ | (2.2 | ) | $ | (2.1 | )
Commodity contracts | Fuel, purchased power, and cost of natural gas sold |  | - |  |  | - |  |  | (3.2 | ) |  | (2.5 | )
|  | $ | (0.8 | ) | $ | (0.7 | ) | $ | (5.4 | ) | $ | (4.6 | )
Income tax | Income tax expense |  | 0.2 |  |  | 0.1 |  |  | 1.2 |  |  | 1.1 |
Total reclassification adjustments related to cash flow hedges, net of tax |  | $ | (0.6 | ) | $ | (0.6 | ) | $ | (4.2 | ) | $ | (3.5 | )
Amortization of components of defined benefit plans: |  |  |  |  |  |  |  |  |
Actuarial (loss) | Operations and maintenance |  | - |  |  | - |  |  | (0.1 | ) |  | (0.1 | )
|  | $ | - |  | $ | - |  | $ | (0.1 | ) | $ | (0.1 | )
Income tax | Income tax expense |  | - |  |  | - |  |  | - |  |  | - |
Total reclassification adjustments related to defined benefit plans, net of tax |  | $ | - |  | $ | - |  | $ | (0.1 | ) | $ | (0.1 | )
Total reclassifications |  | $ | (0.6 | ) | $ | (0.6 | ) | $ | (4.3 | ) | $ | (3.6 | )
Balances by classification included within AOCI, net of tax on the accompanying Consolidated Balance Sheets were as follows:
| Derivatives Designated as Cash Flow Hedges |  |  |  |  |
| Interest Rate Swaps |  | Commodity Derivatives |  | Employee Benefit Plans |  | Total |
| (in millions) |
As of December 31, 2023 | $ | (6.1 | ) | $ | (2.5 | ) | $ | (6.2 | ) | $ | (14.8 | )
Other comprehensive income (loss) before reclassifications |  | - |  |  | (0.1 | ) |  | - |  |  | (0.1 | )
Amounts reclassified from AOCI |  | 1.7 |  |  | 2.5 |  |  | 0.1 |  |  | 4.3 |
As of September 30, 2024 | $ | (4.4 | ) | $ | (0.1 | ) | $ | (6.1 | ) | $ | (10.6 | )
| Derivatives Designated as Cash Flow Hedges |  |  |  |  |
| Interest Rate Swaps |  | Commodity Derivatives |  | Employee Benefit Plans |  | Total |
| (in millions) |
As of December 31, 2022 | $ | (8.3 | ) | $ | (1.2 | ) | $ | (6.1 | ) | $ | (15.6 | )
Other comprehensive income (loss) before reclassifications |  | - |  |  | (0.9 | ) |  | - |  |  | (0.9 | )
Amounts reclassified from AOCI |  | 1.7 |  |  | 1.8 |  |  | 0.1 |  |  | 3.6 |
As of September 30, 2023 | $ | (6.6 | ) | $ | (0.3 | ) | $ | (6.0 | ) | $ | (12.9 | )

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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://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/220/tableOfContent + Details
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