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 and nine months ended September 30, 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 June 30, 2013	$	(1,307	)	$	(29,825	)	$	(849	)	$	(31,981	)
Other comprehensive income (loss) before reclassifications	—			—			—			—
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	811			393			—			1,204
Net current-period other comprehensive income (loss)	811			393			—			1,204
Balance at September 30, 2013	$	(496	)	$	(29,432	)	$	(849	)	$	(30,777	)



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	—			(1,548		)	—			(1,548		)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	2,526			1,181			(107		)	3,600
Net current-period other comprehensive income (loss)	2,526			(367		)	(107		)	2,052
Balance at September 30, 2013	$	(496	)	$	(29,432	)	$	(849	)	$	(30,777	)



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 June 30, 2013	$	(170,733	)	$	(2,765	)	$	(6,466	)	$	(179,964	)
Other comprehensive income (loss) before reclassifications	—			—			—			—
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	3,406			—			79			3,485
Net current-period other comprehensive income (loss)	3,406			—			79			3,485
Balance at September 30, 2013	$	(167,327	)	$	(2,765	)	$	(6,387	)	$	(176,479	)



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	(1,548		)	—			—			(1,548		)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	10,219			1,811			237			12,267
Net current-period other comprehensive income (loss)	8,671			1,811			237			10,719
Balance at September 30, 2013	$	(167,327	)	$	(2,765	)	$	(6,387	)	$	(176,479	)

Details about these reclassifications out of accumulated other comprehensive income (loss) for the three months ended September 30, 2013 are as follows:



Puget Energy	Three Months Ended
(Dollars in Thousands)	September 30, 2013
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	$	(1,247	)	Interest expense
	436			Tax (expense) or benefit
	$	(811	)	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)	(1,104		)	¹
	(605		)	Total before tax
	212			Tax (expense) or benefit
	$	(393	)	Net of Tax
Net unrealized gain (loss) on energy derivative instruments:
Commodity contracts: electric derivatives	—			Purchased electricity
	—			Tax (expense) or benefit
	$	—		Net of Tax
Total reclassification for the period	$	(1,204	)	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	Three Months Ended
(Dollars in Thousands)	September 30, 2013
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	$	390		¹
Amortization of net gain (loss)	(5,630		)	¹
	(5,240		)	Total before tax
	1,834			Tax (expense) or benefit
	$	(3,406	)	Net of Tax
Net unrealized gain (loss) on energy derivative instruments:
Commodity contracts: electric derivatives	—			Purchased electricity
	—			Tax (expense) or benefit
	$	—		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	$	(3,485	)	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).

Details about these reclassifications out of accumulated other comprehensive income (loss) for the nine months ended September 30, 2013 are as follows:



Puget Energy	Nine Months Ended
(Dollars in Thousands)	September 30, 2013
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	$	(3,886	)	Interest expense
	1,360			Tax (expense) or benefit
	$	(2,526	)	Net of Tax
Net unrealized gain (loss) and prior service cost on pension plans:
Amortization of prior service cost	1,498			¹
Amortization of net gain (loss)	(3,315		)	¹
	(1,817		)	Total before tax
	636			Tax (expense) or benefit
	$	(1,181	)	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	$	(3,600	)	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	Nine Months Ended
(Dollars in Thousands)	September 30, 2013
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	$	1,171		¹
Amortization of net gain (loss)	(16,891		)	¹
	(15,720		)	Total before tax
	5,501			Tax (expense) or benefit
	$	(10,219	)	Net of Tax
Net unrealized gain (loss) on energy derivative instruments:
Commodity contracts: electric derivatives	(2,786		)	Purchased electricity
	976			Tax (expense) or benefit
	$	(1,810	)	Net of Tax
Net unrealized gain (loss) on treasury interest rate swaps:
Interest rate contracts	(366		)	Interest expense
	129			Tax (expense) or benefit
	$	(237	)	Net of Tax
Total reclassification for the period	$	(12,266	)	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).