Accumulated Other Comprehensive Income (Loss)

The following tables present the changes in the Company’s (loss) AOCI by component for the years ended December 31, 2018, 2017 and 2016, respectively:



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
Balance at December 31, 2015	$	(27,266	)	$	—	$	(27,266	)
Other comprehensive income (loss) before reclassifications	(5,528		)	—		(5,528		)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	(918		)	—		(918		)
Net current-period other comprehensive income (loss)	(6,446		)	—		(6,446		)
Balance at December 31, 2016	$	(33,712	)	$	—	$	(33,712	)
Other comprehensive income (loss) before reclassifications	10,251			—		10,251
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	(821		)	—		(821		)
Net current-period other comprehensive income (loss)	9,430			—		9,430
Balance at December 31, 2017	$	(24,282	)	$	—	$	(24,282	)
Other comprehensive income (loss) before reclassifications	(48,870		)	—		(48,870		)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	1,180			—		1,180
Reclassification of stranded taxes to retained earnings due to tax reform	(5,230		)	—		(5,230		)
Net current-period other comprehensive income (loss)	(52,920		)	—		(52,920		)
Balance at December 31, 2018	$	(77,202	)	$	—	$	(77,202	)



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, 2015	$	(143,877	)	$	—	$	(5,673	)	$	(149,550	)
Other comprehensive income (loss) before reclassifications	(5,655		)	—		—			(5,655		)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	9,377			—		317			9,694
Net current-period other comprehensive income (loss)	3,722			—		317			4,039
Balance at December 31, 2016	$	(140,155	)	$	—	$	(5,356	)	$	(145,511	)
Other comprehensive income (loss) before reclassifications	10,200			—		—			10,200
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	8,088			—		317			8,405
Net current-period other comprehensive income (loss)	18,288			—		317			18,605
Balance at December 31, 2017	$	(121,867	)	$	—	$	(5,039	)	$	(126,906	)
Other comprehensive income (loss) before reclassifications	(48,802		)	—		—			(48,802		)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	11,772			—		385			12,157
Reclassification of stranded taxes to retained earnings due to tax reform	(26,233		)	—		(1,100		)	(27,333		)
Net current-period other comprehensive income (loss)	(63,263		)	—		(715		)	(63,978		)
Balance at December 31, 2018	$	(185,130	)	$	—	$	(5,754	)	$	(190,884	)

Details about the reclassifications out of AOCI (loss) for the years ended December 31, 2018, 2017 and 2016, respectively, are as follows:



Puget Energy
(Dollars in Thousands)
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)
		2018			2017			2016
Net unrealized gain (loss) and prior service cost on pension plans:
Amortization of prior service cost	(a)	$	1,937		$	1,938		$	1,938
Amortization of net gain (loss)	(a)	(3,431		)	(675		)	(525		)
	Total before tax	(1,494		)	1,263			1,413
	Tax (expense) or benefit	314			(442		)	(495		)
	Net of Tax	(1,180		)	821			918
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	Net of Tax	$	(1,180	)	$	821		$	918

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^(a)	These AOCI components are included in the computation of net periodic pension cost, see Note 13, "Retirement Benefits," to the consolidated financial statements included in item 8 of this report for additional details.



Puget Sound Energy
(Dollars in Thousands)
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)
		2018			2017			2016
Net unrealized gain (loss) and prior service cost on pension plans:
Amortization of prior service cost	(a)	$	1,529		$	1,529		$	1,529
Amortization of net gain (loss)	(a)	(16,430		)	(13,972		)	(15,955		)
	Total before tax	(14,901		)	(12,443		)	(14,426		)
	Tax (expense) or benefit	3,129			4,355			5,049
	Net of tax	(11,772		)	(8,088		)	(9,377		)
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	Interest expense	(487		)	(488		)	(488		)
	Tax (expense) or benefit	102			171			171
	Net of Tax	(385		)	(317		)	(317		)
Total reclassification for the period	Net of Tax	$	(12,157	)	$	(8,405	)	$	(9,694	)

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^(a)	These AOCI components are included in the computation of net periodic pension cost, see Note 13, "Retirement Benefits," to the consolidated financial statements included in item 8 of this report for additional details.