Accumulated Other Comprehensive Income (Notes)

3 Months Ended

Mar. 31, 2013

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

The following tables present the changes in the Company’s accumulated other comprehensive income (loss) (AOCI) by component for the three months ended March 31, 2013:

Puget Energy	Net unrealized gain (loss) on interest rate swaps			Net unrealized gain (loss) and prior service cost on pension plans			Net unrealized gain (loss) on energy derivative instruments
Changes in AOCI, net of tax
(Dollars in Thousands)										Total
Balance at December 31, 2012	$	(3,022	)	$	(29,065	)	$	(742	)	$	(32,829	)
Other comprehensive income (loss) before reclassifications	—			—			—			—
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	854			347			(107		)	1,094
Net current-period other comprehensive income (loss)	854			347			(107		)	1,094
Balance at March 31, 2013	$	(2,168	)	$	(28,718	)	$	(849	)	$	(31,735	)

Puget Sound Energy	Net unrealized gain (loss) and prior service cost on pension plans			Net unrealized gain (loss) on energy derivative instruments			Net unrealized gain (loss) on treasury interest rate swaps
Changes in AOCI, net of tax
(Dollars in Thousands)										Total
Balance at December 31, 2012	$	(175,998	)	$	(4,576	)	$	(6,624	)	$	(187,198	)
Other comprehensive income (loss) before reclassifications	—			—			—			—
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	3,386			1,811			79			5,276
Net current-period other comprehensive income (loss)	3,386			1,811			79			5,276
Balance at March 31, 2013	$	(172,612	)	$	(2,765	)	$	(6,545	)	$	(181,922	)

Details about these reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 31, 2013 are as follows:

Puget Energy
(Dollars in Thousands)
Details about accumulated other comprehensive income (loss) components	Amount reclassified from accumulated other comprehensive income (loss)			Affected line item in the statement where net income (loss) is presented
Net unrealized gain (loss) on interest rate swaps
Interest rate contracts	$	(1,314	)	Interest expense
	460			Tax (expense) or benefit
	$	(854	)	Net of Tax
Net unrealized gain (loss) and prior service cost on pension plans
Amortization of prior service cost	499			1
Amortization of net gain (loss)	(1,032		)	1
	(533		)	Total before tax
	186			Tax (expense) or benefit
	$	(347	)	Net of Tax
Net unrealized gain (loss) on energy derivative instruments
Commodity contracts: electric derivatives	164			Purchased electricity
	(57		)	Tax (expense) or benefit
	$	107		Net of Tax
Total reclassification for the period	$	(1,094	)	Net of Tax

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¹ These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 5 for additional details).

Puget Sound Energy
(Dollars in Thousands)
Details about accumulated other comprehensive income (loss) components	Amount reclassified from accumulated other comprehensive income (loss)			Affected line item in the statement where net income (loss) is presented
Net unrealized gain (loss) and prior service cost on pension plans
Amortization of prior service cost	$	389		1
Amortization of net gain (loss)	(5,599		)	1
	(5,210		)	Total before tax
	1,824			Tax (expense) or benefit
	$	(3,386	)	Net of Tax
Net unrealized gain (loss) on energy derivative instruments
Commodity contracts: electric derivatives	(2,786		)	Purchased electricity
	975			Tax (expense) or benefit
	$	(1,811	)	Net of Tax
Net unrealized gain (loss) on treasury interest rate swaps
Interest rate contracts	(122		)	Interest expense
	43			Tax (expense) or benefit
	$	(79	)	Net of Tax
Total reclassification for the period	$	(5,276	)	Net of Tax

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¹ These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 5 for additional details).