Accumulated Other Comprehensive Income (Notes)

9 Months Ended

Sep. 30, 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 and nine months ended September 30, 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 June 30, 2014	$	47,522		$	(358	)	$	—	$	47,164
Other comprehensive income (loss) before reclassifications	—			—			—		—
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	(314		)	—			—		(314		)
Net current-period other comprehensive income (loss)	(314		)	—			—		(314		)
Balance at September 30, 2014	$	47,208		$	(358	)	$	—	$	46,850

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	(945		)	—			—			(945		)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	(361		)	347			94			80
Net current-period other comprehensive income (loss)	(1,306		)	347			94			(865		)
Balance at September 30, 2014	$	47,208		$	(358	)	$	—		$	46,850

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, 2014	$	(83,980	)	$	(1,309	)	$	(6,149	)	$	(91,438	)
Other comprehensive income (loss) before reclassifications	—			—			—			—
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	1,880			—			79			1,959
Net current-period other comprehensive income (loss)	1,880			—			79			1,959
Balance at September 30, 2014	$	(82,100	)	$	(1,309	)	$	(6,070	)	$	(89,479	)

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, 2013	$	(87,405	)	$	(2,027	)	$	(6,307	)	$	(95,739	)
Other comprehensive income (loss) before reclassifications	(945		)	—			—			(945		)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	6,250			718			237			7,205
Net current-period other comprehensive income (loss)	5,305			718			237			6,260
Balance at September 30, 2014	$	(82,100	)	$	(1,309	)	$	(6,070	)	$	(89,479	)

Details about these reclassifications out of accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2014 and three and nine months ended September 30, 2013, respectively, are as follows:

Puget Energy		Three Months Ended September 30,						Nine Months Ended September 30,
(Dollars in Thousands)		2014			2013			2014			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)	$	483		$	499		$	1,452		$	1,498
Amortization of net gain (loss)	(a)	—			(1,104		)	(388		)	(3,315		)
	Total before tax	483			(605		)	1,064			(1,817		)
	Tax (expense) or benefit	(169		)	212			(703		)	(197		)
	Net of Tax	$	314		$	(393	)	$	361		$	(2,014	)
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	—			(1,247		)	(144		)	(3,886		)
	Tax (expense) or benefit	—			436			50			1,360
	Net of Tax	$	—		$	(811	)	$	(94	)	$	(2,526	)
Total reclassification for the period	Net of Tax	$	314		$	(1,204	)	$	(80	)	$	(4,433	)

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^(a)  These accumulated OCI components are included in the computation of net periodic pension cost (see Note 5 for additional details).

Puget Sound Energy		Three Months Ended September 30,						Nine Months Ended September 30,
(Dollars in Thousands)		2014			2013			2014			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		$	390		$	1,143		$	1,171
Amortization of net gain (loss)	(a)	(3,488		)	(5,630		)	(10,463		)	(16,891		)
	Total before tax	(3,107		)	(5,240		)	(9,320		)	(15,720		)
	Tax (expense) or benefit	1,227			1,834			3,070			4,669
	Net of Tax	$	(1,880	)	$	(3,406	)	$	(6,250	)	$	(11,051	)
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		)	(366		)	(366		)
	Tax (expense) or benefit	43			43			129			128
	Net of Tax	$	(79	)	$	(79	)	$	(237	)	$	(238	)
Total reclassification for the period	Net of Tax	$	(1,959	)	$	(3,485	)	$	(7,205	)	$	(13,100	)

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^(a)  These accumulated OCI components are included in the computation of net periodic pension cost (see Note 5 for additional details).