Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2015

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

The following tables present the changes in the Company’s AOCI (loss) by component for the three and six months ended June 30, 2015:

Puget Energy	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
March 31, 2015	$	(36,131	)	$	—	$	(36,131	)
Other comprehensive income (loss) before reclassifications	—			—		—
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	1,277			—		1,277
Net current-period other comprehensive income (loss)	1,277			—		1,277
June 30, 2015	$	(34,854	)	$	—	$	(34,854	)

Puget Energy	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
December 31, 2014	$	(36,710	)	$	(333	)	$	(37,043	)
Other comprehensive income (loss) before reclassifications	—			—			—
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	1,856			333			2,189
Net current-period other comprehensive income (loss)	1,856			333			2,189
June 30, 2015	$	(34,854	)	$	—		$	(34,854	)

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
March 31, 2015	$	(160,900	)	$	—	$	(5,911	)	$	(166,811	)
Other comprehensive income (loss) before reclassifications	—			—		—			—
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	4,094			—		79			4,173
Net current-period other comprehensive income (loss)	4,094			—		79			4,173
June 30, 2015	$	(156,806	)	$	—	$	(5,832	)	$	(162,638	)

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
December 31, 2014	$	(164,281	)	$	(686	)	$	(5,990	)	$	(170,957	)
Other comprehensive income (loss) before reclassifications	—			—			—			—
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	7,475			686			158			8,319
Net current-period other comprehensive income (loss)	7,475			686			158			8,319
June 30, 2015	$	(156,806	)	$	—		$	(5,832	)	$	(162,638	)

Details about these reclassifications out of AOCI for the three and six months ended June 30, 2015, and 2014, are as follows:

Puget Energy		Three Months Ended June 30,						Six Months Ended June 30,
(Dollars in Thousands)		2015			2014			2015			2014
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		$	484		$	969		$	1,165
Amortization of net gain (loss)	(a)	(2,449		)	(98		)	(3,825		)	(456		)
	Total before tax	(1,965		)	386			(2,856		)	709
	Tax (expense) or benefit	688			(135		)	1,000			(248		)
	Net of Tax	$	(1,277	)	$	251		$	(1,856	)	$	461
Net unrealized gain (loss) on energy derivative instruments:
Commodity contracts: electric derivatives	Purchased electricity	—			—			(512		)	(534		)
	Tax (expense) or benefit	—			—			179			187
	Net of Tax	$	—		$	—		$	(333	)	$	(347	)
Net unrealized gain (loss) on interest rate swaps:
Interest rate contracts	Interest expense	—			—			—			(144		)
	Tax (expense) or benefit	—			—			—			50
	Net of Tax	$	—		$	—		$	—		$	(94	)
Total reclassification for the period	Net of Tax	$	(1,277	)	$	251		$	(2,189	)	$	20

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

Puget Sound Energy		Three Months Ended June 30,						Six Months Ended June 30,
(Dollars in Thousands)		2015			2014			2015			2014
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		$	381		$	762		$	762
Amortization of net gain (loss)	(a)	(6,679		)	(3,516		)	(12,262		)	(6,975		)
	Total before tax	(6,298		)	(3,135		)	(11,500		)	(6,213		)
	Tax (expense) or benefit	2,204			1,097			4,025			2,175
	Net of Tax	$	(4,094	)	$	(2,038	)	$	(7,475	)	$	(4,038	)
Net unrealized gain (loss) on energy derivative instruments:
Commodity contracts: electric derivatives	Purchased electricity	—			—			(1,055		)	(1,104		)
	Tax (expense) or benefit	—			—			369			386
	Net of Tax	$	—		$	—		$	(686	)	$	(718	)
Net unrealized gain (loss) on treasury interest rate swaps:
Interest rate contracts	Interest expense	(122		)	(122		)	(244		)	(244		)
	Tax (expense) or benefit	43			43			86			86
	Net of Tax	$	(79	)	$	(79	)	$	(158	)	$	(158	)
Total reclassification for the period	Net of Tax	$	(4,173	)	$	(2,117	)	$	(8,319	)	$	(4,914	)

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