Accumulated Other Comprehensive Income (Notes)

3 Months Ended

Mar. 31, 2014

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, 2014:

Puget 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 interest rate swaps
Changes in AOCI, net of tax
(Dollars in Thousands)										Total
Balance at December 31, 2013	$	48,514		$	(705	)	$	(94	)	$	47,715
Other comprehensive income (loss) before reclassifications	—			—			—			—
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	(209		)	347			94			232
Net current-period other comprehensive income (loss)	(209		)	347			94			232
Balance at March 31, 2014	$	48,305		$	(358	)	$	—		$	47,947

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, 2013	$	(87,405	)	$	(2,027	)	$	(6,307	)	$	(95,739	)
Other comprehensive income (loss) before reclassifications	—			—			—			—
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	2,001			718			79			2,798
Net current-period other comprehensive income (loss)	2,001			718			79			2,798
Balance at March 31, 2014	$	(85,404	)	$	(1,309	)	$	(6,228	)	$	(92,941	)

Details about these reclassifications out of accumulated other comprehensive income (loss) for the three months ended March 31, 2014 and March 31, 2013, respectively, are as follows:

Puget Energy		Three Months Ended			Three Months Ended
(Dollars in Thousands)		March 31, 2014			March 31, 2013
Details about accumulated other comprehensive income (loss) components	Affected line item in the statement where net income (loss) is presented	Amount reclassified from accumulated other comprehensive income (loss)
Net unrealized gain (loss) and prior service cost on pension plans:
Amortization of prior service cost	(a)	484			499
Amortization of net gain (loss)	(a)	(162		)	(1,032		)
	Total before tax	322			(533		)
	Tax (expense) or benefit	(113		)	186
	Net of Tax	$	209		$	(347	)
Net unrealized gain (loss) on energy derivative instruments:
Commodity contracts: electric derivatives	Purchased electricity	(534		)	164
	Tax (expense) or benefit	187			(57		)
	Net of Tax	$	(347	)	$	107
Net unrealized gain (loss) on interest rate swaps:
Interest rate contracts	Interest expense	$	(144	)	$	(1,314	)
	Tax (expense) or benefit	50			460
	Net of Tax	$	(94	)	$	(854	)
Total reclassification for the period	Net of Tax	$	(232	)	$	(1,094	)

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^(a)  These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 4 for additional details).

Puget Sound Energy		Three Months Ended			Three Months Ended
(Dollars in Thousands)		March 31, 2014			March 31, 2013
Details about accumulated other comprehensive income (loss) components	Affected line item in the statement where net income (loss) is presented	Amount reclassified from accumulated other comprehensive income (loss)
Net unrealized gain (loss) and prior service cost on pension plans:
Amortization of prior service cost	(a)	$	381		$	389
Amortization of net gain (loss)	(a)	(3,461		)	(5,599		)
	Total before tax	(3,080		)	(5,210		)
	Tax (expense) or benefit	1,079			1,824
	Net of Tax	$	(2,001	)	$	(3,386	)
Net unrealized gain (loss) on energy derivative instruments:
Commodity contracts: electric derivatives	Purchased electricity	(1,104		)	(2,786		)
	Tax (expense) or benefit	386			975
	Net of Tax	$	(718	)	$	(1,811	)
Net unrealized gain (loss) on treasury interest rate swaps:
Interest rate contracts	Interest expense	(122		)	(122		)
	Tax (expense) or benefit	43			43
	Net of Tax	$	(79	)	$	(79	)
Total reclassification for the period	Net of Tax	$	(2,798	)	$	(5,276	)

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^(a)  These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 4 for additional details).